Hypothyroidism Market to Expand by USD 789.8 Million (2024-2028) as New Drug Approvals Drive Revenue; Report Highlights AI’s Role in Market Transformation – Technavio

NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global hypothyroidism market  size is estimated to grow by USD 789.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.8%  during the forecast period. Increasing approval of new hypothyroidism drugs is driving market growth, with a trend towards inorganic growth strategies among market vendors. However, product recall in global hypothyroidism market  poses a challenge.Key market players include AbbVie Inc., AdvaCare Pharma, Alvogen Inc, Aurore Life Sciences Pvt Ltd, Biophore India Pharmaceuticals Pvt. Ltd., IBSA Institut Biochimique SA, JEROME STEVENS PHARMACEUTICALS INC., LLOYD Inc., Lupin Ltd., Merck KGaA, Novartis AG, Pfizer Inc., RLC Labs Inc., Sigmapharm Laboratories LLC, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., Wockhardt Ltd., and Zydus Lifesciences Ltd..

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Key Market Trends Fueling Growth

The global hypothyroidism market is experiencing notable growth through strategic partnerships and collaborations. In May 2023, Merck, the Indonesian Medical Association (PB IDI), and the Central Board of the Indonesian Thyroid Association signed a Memorandum of Understanding (MoU) to launch the Thyroid RAISE program. This initiative aims to enhance healthcare professionals’ capabilities and increase public awareness about thyroid disorders. The Thyroid RAISE program focuses on both hypothyroidism and hyperthyroidism, ensuring comprehensive care and early intervention. Merck’s collaboration with Indonesian medical associations underscores the importance of cross-sector partnerships in addressing public health challenges. These collaborations expand the reach and impact of thyroid disorder treatments by sharing knowledge and resources, ultimately improving patient outcomes. The Thyroid RAISE program is expected to equip healthcare providers with the necessary skills to diagnose and treat thyroid disorders effectively. Furthermore, increased public awareness from these collaborations encourages early screening and intervention, reducing the burden on healthcare systems. In conclusion, strategic partnerships and collaborations are pivotal to the hypothyroidism market’s growth, driving advancements in diagnosis, treatment, and overall management of thyroid disorders. 

Hypothyroidism, a medical condition characterized by an underactive thyroid gland, affects millions worldwide due to iodine deficiency and autoimmune disorders. The disease causes metabolic issues, cold sensitivity, memory impairment, and menstrual irregularities. The global hypothyroidism market is growing, driven by increasing patient pool and diagnosis through tests like thyroid-stimulating hormone and thyroid scintigraphy. In-market drugs like Thyroxine and Triiodothyronine are commonly used for oral administration. Late-stage pipeline drugs, such as Drug X and Drug Y, show promise for intravenous administration. Disease awareness campaigns and drug combinations are trends in the treatment market for undiagnosed patients. Robotic energy-based therapies and liothyronine are also under exploration. Primary, secondary, and tertiary hypothyroidism require diagnosis and treatment. 

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Market Challenges

•         The global hypothyroidism market is currently facing challenges due to product recalls, which can negatively impact patient trust and treatment regimens. In December 2023, the ANSM National Drug Agency of France came under investigation for allegedly providing misleading information about Merck’s Levothyrox thyroid drug. This situation raised concerns about regulatory oversight and the accuracy of information given to patients and healthcare providers. Furthermore, product recalls due to quality issues pose a substantial challenge. For instance, in December 2023, Sun Pharmaceutical Industries recalled 96,192 bottles of liothyronine sodium tablets in the US due to failed impurities/degradation specifications. This recall not only affected medication availability but also highlighted the importance of stringent quality control measures in pharmaceutical manufacturing. Another significant recall involved IBSA Pharma Inc., which withdrew over two dozen lots of Tirosint-SOL (levothyroxine sodium) oral solution in March 2023 due to potential subpotency. The US FDA classified this recall as Class I, indicating serious health consequences or death from using the affected medication. These incidents of quality assurance processes and transparent communication from pharmaceutical companies. Product recalls not only disrupt the supply chain but also erode patient confidence in their treatments. As the global hypothyroidism market grows, addressing these challenges through improved regulatory compliance and quality control is essential to maintaining patient trust and ensuring the availability of safe and effective treatments during the forecast period.

•         The Hypothyroidism market encompasses solutions for addressing Thyroid Gland Disorders, specifically Hypothyroidism. This condition, characterized by an underactive thyroid gland, affects millions worldwide. Undiagnosed patients pose a significant challenge, as many remain asymptomatic. For diagnosed patients, treatment options include drug combinations of Liothyronine and Levothyroxine via Oral Administration or Intravenous Administration. Diagnosis relies on Thyroid Function Tests, Thyroid ultrasound, and Thyroid antibody exam. Iodine Deficiency is a common cause. Symptoms include Fatigue, Weakness, Weight gain, Sensitivity to cold, Dry skin, Hair loss, Constipation, Depression, Mood swings, Muscle aches, Stiffness, Impaired memory, and Concentration issues. Primary, Secondary, and Tertiary Hypothyroidism require clinical evaluation through Medical history and Laboratory procedures. Robotic Energy-Based Therapies offer potential advancements in diagnosis and treatment. The Hypothyroidism market continues to grow, driven by the need for effective solutions for Hormones like Thyroxine (T4) and Triiodothyronine (T3), and Thyroid-stimulating hormone.

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Segment Overview 

This hypothyroidism market report extensively covers market segmentation by

1. Disease Type

• 1.1 Primary hypothyroidism
• 1.2 Secondary hypothyroidism
• 1.3 Others

Distribution Channel

• 2.1 Hospital pharmacy
• 2.2 Retail pharmacy
• 2.3 Online pharmacy

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Primary hypothyroidism-  Primary hypothyroidism is a condition characterized by insufficient thyroid hormone production. Autoimmune thyroiditis, specifically Hashimoto’s disease, is the leading cause in iodine-sufficient regions like the US. In contrast, iodine deficiency remains the primary cause in areas with insufficient iodine intake. Understanding these causes and regional variations is essential for market segmentation and targeting. Vendors can develop targeted strategies, such as increasing access to iodine supplements and fortified foods in iodine-deficient regions, and providing specialized medical interventions in areas with high autoimmune thyroiditis prevalence. By addressing the primary causes, vendors can drive growth in the primary hypothyroidism market.

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Research Analysis

Hypothyroidism, also known as an underactive thyroid, is a medical condition characterized by the thyroid gland’s inability to produce sufficient thyroid hormones. Thyroid gland disorders, including hypothyroidism, affect millions worldwide. Disease awareness campaigns aim to increase understanding and early diagnosis. Treatment options range from oral administration of hormones like Thyroxine (T4) and Triiodothyronine (T3), to robotic energy-based therapies. Hypothyroidism presents with symptoms such as fatigue, weakness, weight gain, sensitivity to cold, dry skin, hair loss, and constipation. Primary, secondary, and tertiary hypothyroidism refer to different causes, with primary being the most common. Diagnosis and treatment involve testing thyroid function and hormone levels. The thyroid gland, located in the neck, plays a crucial role in metabolism by producing thyroid hormones that regulate body functions.

Market Research Overview

Hypothyroidism, or an underactive thyroid gland, is a thyroid disorder that affects the production of essential hormones. Thyroid gland disorders, including primary, secondary, and tertiary hypothyroidism, can lead to various symptoms such as fatigue, weakness, weight gain, sensitivity to cold, dry skin, hair loss, constipation, depression, mood swings, muscle aches, stiffness, impaired memory, concentration issues, and menstrual irregularities. Hypothyroidism can be caused by autoimmune disorders, iodine deficiency, or other factors. Undiagnosed patients are a significant concern due to the potential for long-term health complications. Disease awareness campaigns are essential to increase understanding of hypothyroidism and its symptoms. Treatment options include drug combinations, oral administration of Liothyronine and Levothyroxine, and intravenous administration. Thyroid function tests, such as thyroid antibody exam and thyroid ultrasound, aid in diagnosis. The hypothyroidism market is expanding with in-market drugs and pipeline drugs, including late-stage pipeline drugs, addressing various unmet needs. Lifestyle modifications can also help manage symptoms. Epidemiology data indicates a growing patient pool, particularly in developing countries.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Disease Type
• Primary Hypothyroidism
• Secondary Hypothyroidism
• Others
• Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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