Global Antithyroid Agents Market, By Drugs (Sodium Iodide-I-131, Methimazole, Others), Indication (Hyperthyroidism, Thyroid Cancer, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.
Antithyroid Agents Market Analysis and Size
The global antithyroid agents market is expected to witness significant growth during the forecast period. Graves’ disease is one of the main causes of hyperthyroidism and the occurrence of Graves’ disease is increasing. It is more prevalent between 30 and 60 years and occurs in women 5–10 times more than men. Medical advancements which involve ongoing drug discovery, and government and non-government organizational initiatives are what that boosts the market growth. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global antithyroid agents market in the forecast period 2022-2029. The expected CAGR of global antithyroid agents market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 2.3 billion in 2021, and it would grow upto USD 3.03 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Antithyroid agents are pharmaceutical drugs that prevent or inhibit thyroid hormone biosynthesis. It is most widely used in the treatment of hyperactivated thyroid clinically caused by Graves' disease. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period
Antithyroid Agents Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Drugs (Sodium Iodide-I-131, Methimazole, Others), Indication (Hyperthyroidism, Thyroid Cancer, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Teva Pharmaceutical Industries Ltd (Israel), Mylan N.V (U.S.), Johnsons & Johnsons Services Inc (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Lilly (U.S.), Merck & Co., Inc. (U.S.), Aurobindo Pharma (India), Myers Squibb Company (U.S.), GSK plc (U.K.), Mission Pharmacal Company (U.S.), CASI Pharmaceuticals Inc. (U.S.), ECI Pharmaceuticals (U.S.)
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Market Opportunities
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Global Antithyroid Agents Market Dynamics
Drivers
- Increased Incidence of Thyroid Disorders
Thyroid Disorders, mainly hyperthyroidism, affect 200 million people globally; in most countries, half of the population remains undiagnosed. This condition is more prevalent among women and the elderly. As per the statistics by the Thyroid Foundation of Canada in 2015, 1 in every 1700 children in Canada is affected by congenital hypothyroidism. This creates more opportunity in the market.
- Increased Initiatives by Government and Market Players
The increasing number of efforts and initiatives that are being initiated by the government and major market leaders all over the world are boosting the market growth. Governments in many countries have launched several healthcare schemes, which, a patient can use for the treatment of several disorders. Furthermore, hyperthyroidism is a serious issue, becoming the reason of mortality for people worldwide each year. Thus, these policies drive the market growth
Opportunities
- The Growing Strategic Collaborations
There has been an increase in collaborative agreements between private and public organizations that aids to spread awareness pertaining to thyroid management among healthcare professionals and patients is expected to expand the market growth. Several government organizations such as The British Thyroid Foundation, American Thyroid Association (ATA), American Academy of Otolaryngology and Thyroid Foundation of Canada are engaged in many promotional activities to create awareness regarding the disease and its treatment options.
- Rising Demand for Oral Drugs
Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.
Restraints/Challenges
- Lack of Skilled Professionals
Lack of trained professionals who are unaware of the knowledge of the treatment methods for this disease could curb the growth of the global antithyroid agents market over a forecast period.
- Increasing Cost of Treatment
One of the primary factors that are causing a restrain to the antithyroid agents market is the high cost of the drugs associated with the disease. There is an increasing number of people that suffer from thyroid disorders all over the world. Most of the population cannot get the optimum benefit of the treatment due to the rising cost.
This global antithyroid agents market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global antithyroid agents market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Antithyroid Agents Market
Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials. Thyroidism is increasing irrespective of the COVID-19 situation but due to the pandemic, this was in halt.
But, in the post-pandemic era, the market is expected to flourish with the increasing upliftments of hospitals and clinics and the reduction of COVID-19 treatment methods.
Global Antithyroid Agents Market Scope
The global antithyroid agents market is segmented on the basis of drug, indication, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Drugs
- Sodium Iodide-I-131
- Methimazole
- Others
Indication
- Hyperthyroidism
- Thyroid Cancer
- Others
End-Users
- Hospitals
- Homecare
- Speciality Centres
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Antithyroid Agents Market Regional Analysis/Insights
The global antithyroid agents market is analysed and market size insights and trends are provided by drug, indication, distribution channel and end-user as referenced above.
The major countries covered in the global antithyroid agents market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to have the highest market growth due to the presence of advance healthcare infrastructure and high prevalence of thyroid diseases.
Asia-Pacific dominates the market due to developing economic and increase in government initiatives.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Antithyroid Agents Market Share Analysis
The global antithyroid agents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global antithyroid agents market.
Key players operating in the global antithyroid agents market include:
- Teva Pharmaceutical Industries Ltd (Israel)
- Mylan N.V (U.S.)
- Johnsons & Johnsons Services Inc (U.S.)
- F. Hoffman-La Roche Ltd. (Switzerland)
- Lilly (U.S.)
- Merck & Co., Inc. (U.S.)
- Aurobindo Pharma (India)
- CASI Pharmaceuticals Inc. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- GSK plc (U.K.)
- Aurobindo Pharma (India)
- Mission Pharmacal Company (U.S.)
- ECI Pharmaceuticals (U.S.)
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