The global thyroid gland disorder treatment
market
Some of prominent players
operating in the global thyroid gland disorder marker are Abbott, Pfizer,
GlaxoSmithKline, Mylan N.V., and Amgen. These players are relying on several
strategies such as partnership agreements, regional expansions, brand awareness
activities, and increase product profiliration in order to gain a competitive
edge in the market. In addition, increasing FDA approval of novel drug
patent for the treatment of thyroid gland disorder treatment market is expected
to fuel rivalry among players in the coming years.
In june 2018,
Hutchison China MediTech Limited, a key players in the global throid
gland disorder treatment market has initiated a Phase Ib/II
proof-of-concept study of sulfatinib in pancreatic neuroendocrine. Once
developed and successfully tested the drug is expected to treat tumors and
biliary tract cancer efficiently. This is expected to fuel tyroid gland
disorder market in the coming years.
In the same year, another
player called AmpliPhi Biosciences Corporation presented a AB-PA01
Bacteriophage Therap. As per the company it is helpful in treating patient with
cystic fibrosis.
According to TMR, the
global thyroid gland disorders treatment market was noted at a valuation
of US$1,954.7 mn in 2016. The market is expected to rise at a steady 3.3% CAGR
from 2017 to 2025. Rising at this CAGR, the global thyroid gland disorder
treatment market is expected to hit a valuation of US$2,609.9 mn by 2025.
On the basis of
geography, North America is anticipated to dominate the global thyroid gland
disorder treatment market during the forecast period. This can be attributed by
the fact higher investments in research and development of novel drugs and
equipment for treatment of chronic disorders. Along with this, early adoption of
advanced healthcare technologies, rising awareness and increasing geriatric
populations are some of the predominant factors expected to drive the global
thyroid gland disorder treatment market in the coming years. Based on disorder,
the Hypothyroidism segment is expected to lead the global throid gland
disorder treatment market in the forecast period.
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Side
Effects of Thyroid Gland Disorder Treatment Drugs to Impede Growth
The global
thyroid gland disorder treatment market is anticipated to garner a stready
growth during the forecast period. Key factor contributing the growth of
thyroid gland disorder treatment market include market include increasing
prevalence of thyroid gland disorder, surge in geriatric people, rise in
awareness programs by private and public body.
However,
side effects of thyroid gland disorder treatment drugs, habit forming nature
and stringent government regulations regarding the sales of medicines are some
of the factors expected to hamper growth in the global thyroid gland disorder
treatment market. In addition to this asymptomatic nature of thyroid gland
disorder is one factor impeding growth in the thyroid gland disorder treatment
market. This is because several thyroid gland disorder cases left untreated
owing to poor diagnostic.
Unprecedented
Rise in Alcohol and Tobacco Consumptions to Drive Growth
Nevertheless,
increasing cases of iodine deficiency across the globe is a strong factor
expected to propel the growth in the global thyroid gland disorder treatment
market.
Moreover,
rise in alcohol and tobacco consumption also leads the thyroid disorders.
This is because they contain thiocyanate, a compound responsible to degrade
thyroid functioning. This is also expected to open several opportunities for
growth of the global thyroid gland disorder treatment market.
This
assessment of the global thyroid gland disorders treatment market is based on a
recent market research report by Transparency Market Research, titled “Thyroid
Gland Disorders Treatment Market (Disorders - Hypothyroidism (Levothyroxine and
Liothyronine) and Hyperthyroidism (Imidazole and Propacil)) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025.”
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