Thyroid Gland Disorders Treatment Market Analysis & Forecast to 2023-2033: Market By Indication; By Route of Administration; By Distribution Channel; and by Region

The global thyroid gland disorders treatment market size was estimated to be USD 2.45 billion in 2023 and is expected to reach at USD 3.7 billion by 2033 with a CAGR of 3.91% during the forecast period 2023-2033. One of the main factors boosting the expansion of the global market for treating thyroid gland disorders is the increase in programmes to raise awareness of thyroid treatment. The global thyroid gland disorder treatment market will rise due to the increasing emphasis on emerging economies. In both established and emerging regions, there has been an increase in demand for thyroid treatments on the market. The market for treatments for these conditions is anticipated to expand rapidly globally due to the growing incidence of thyroid gland problems.

The rising prevalence of iodine shortage among patients is the main factor driving the market for treatments for thyroid gland disorders. The prevalence of self-reported thyroid or goitre problems rose to 2.9% in India last year, according to a Ministry of Health and Family Welfare article from February 2022. Thus, it is anticipated that the rise in thyroid disorders will fuel market expansion. According to a National Centre of Biotechnology Information report from August 2022, iodine deficiency was one of the most prevalent nutrient inadequacies, affecting 35-45% of the world's population in the previous year. The most prevalent cause of goitre, affecting 2.2 billion people globally is iodine deficiency.

By Indication, hypothyroidism was the highest revenue-grossing segment in the global thyroid gland disorders treatment market in 2022 owing to rising prevalence of hypothyroidism, increasing iodine deficiency among population, and growing launch of new products. For instance, in November 2021, The Bloom Thyroid Test was developed by Swiss medical technology company Bloom Diagnostics to help identify hypothyroidism. The company has developed a smart self-testing system for various medical conditions, including the Bloom Thyroid Test. The test has received approval from the Notified Body, enabling users to conveniently perform the test in the comfort of their own homes. Additionally, Hyperthyroidism is predicted to grow at fastest CAGR during the forecast period owing to the increasing cases of hyperthyroidism, rising prevalence of thyroid cancer, and growing demand for medications & therapies.

By Route of Administration, oral was the highest revenue-grossing segment in the global thyroid gland disorders treatment market in 2022 owing to increasing development of new drugs and the presence of a strong clinical pipeline. Additionally, Intravenous is predicted to grow at fastest CAGR during the forecast period owing to the rapid delivery of drugs and growing novel drug approvals by regulatory bodies. For instance, in May 2022, Eli Lilly and Company received approval from the U.S. Food and Drug Administration (FDA) for Mounjaro (tirzepatide) injection. Mounjaro is a new medication that combines a once-weekly GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist. It is intended to be used alongside diet and exercise to enhance glycemic control in adults diagnosed with type 2 diabetes.

By Distribution Channel, Wholesaler/Distributors was the highest revenue-grossing segment in the global thyroid gland disorders treatment market in 2022 owing to high use of these platforms for distributing prescription drugs. Additionally, Online distribution is predicted to grow at fastest CAGR during the forecast period owing to the growing popularity of eCommerce channels for prescription medicines.

North America region is anticipated for the highest revenue share during the forecast period owing to the increasing healthcare facilities, growing awareness amongst individuals, presence of treatment options, rising launch of innovative products. For instance, in September 2021, Exelixis Inc. has obtained approval from the USFDA for CABOMETYX (cabozantinib) to treat locally advanced or metastatic differentiated thyroid cancer (DTC) in both adult and pediatric patients. This approval is specifically for cases where the cancer has advanced despite prior treatment targeting the vascular endothelial growth factor receptor (VEGFR) and the patients are either resistant or ineligible for radioactive iodine therapy. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising development of cost-effective products with higher efficiency and increasing product approvals by regulatory bodies. For instance, in November 2022, Zydus Lifesciences, a subsidiary based in the United States, has obtained approval from the USFDA to distribute Levothyroxine Sodium injection, a medication used for the treatment of thyroid hormone deficiency.

Segmentation: Thyroid Gland Disorders Treatment Market Report 2022-2033

Thyroid Gland Disorders Treatment Market Analysis & Forecast By Indication 2022-2033 (Revenue USD Bn)

• Hyperthyroidism
• Propacil
• Imidazole
• Hypothyroidism
• Liothyronine
• Levothyroxine

Thyroid Gland Disorders Treatment Market Analysis & Forecast By Route of Administration 2022-2033 (Revenue USD Bn)

• Intravenous
• Oral

Thyroid Gland Disorders Treatment Market Analysis & Forecast By Distribution Channel 2022-2033 (Revenue USD Bn)

• Online Distribution
• Wholesaler/Distributors
• Retail Chain

Thyroid Gland Disorders Treatment Market Analysis & Forecast by Region 2022-2033 (Revenue USD Bn)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA