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Market Size in USD Billion
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2022 –2029 |
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USD 2.30 Billion |
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USD 3.15 Billion |
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Global Hyperthyroidism Market, By Diagnosis (Physical Examination, Cholesterol Test, Blood Tests, Radioiodine Uptake Test, Thyroid Scan, Thyroid Ultrasound, Others), Treatment (Medication, Surgery), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029
The global hyperthyroidism market is expected to witness significant growth during the forecast period. Growing cases of autoimmune disorders such as grave’s disease drives the hyperthyroidism market. Several reasons can cause hyperthyroidism such as excess iodine, inflammation in thyroid gland, tumors in ovaries & testes, tumor of thyroid gland and other will also boost up the hyperthyroidism market. Medical advancements which involves 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 hyperthyroidism market in the forecast period 2022-2029. The expected CAGR of global hyperthyroidism market is tend to be around 4% in the mentioned forecast period. The market was valued at USD 2.3 billion in 2021, and it would grow upto USD 3.15 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
Hyperthyroidism also known as overactive thyroid occurs when thyroid gland secreted too much of thyroxine hormone. During hyperthyroidism, body metabolism accelerates, causing unintentional weight disbalance and rapid or irregular heartbeat. Symptoms of hyperthyroidism includes palpitations, increased appetite, nervousness, anxiety, tremor, changes in menstrual patterns in women’s, and increased sensitivity to heat among others. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period
Report Scope and Market 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 Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Diagnosis (Physical Examination, Cholesterol Test, Blood Tests, Radioiodine Uptake Test, Thyroid Scan, Thyroid Ultrasound, Others), Treatment (Medication, Surgery), Route of Administration (Oral, Parenteral, 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 Pvt Ltd (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Lilly (U.S.), Merck & Co., Inc. (U.S.), Aurobindo Pharma (India), CASI Pharmaceuticals Inc. (U.S.), ECI Pharmaceuticals (Florida), Bristol-Myers Squibb Company (U.S.), GSK plc (U.K.)
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Market Opportunities
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Drivers
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.
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.
Opportunities
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.
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.
Restraints/Challenges
Lack of trained professionals who are unaware of the knowledge of the treatment methods for this disease could curb the growth of the global hyperthyroidism market over a forecast period.
One of the primary factors that are causing a restrain to the hyperthyroidism 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 hyperthyroidism 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 hyperthyroidism market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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. .
The global hyperthyroidism market is segmented on the basis of diagnosis, treatment, route of administration, 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.
Diagnosis
Treatment
Route of Administration
End-Users
Distribution Channel
The global hyperthyroidism market is analysed and market size insights and trends are provided by diagnosis, treatment, route of administration, distribution channel and end-user as referenced above.
The major countries covered in the global hyperthyroidism 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 increasing thyroid-related diseases and initiatives taken by pharmaceutical organizations to generate novel formulation.
Asia-Pacific dominates the market due to increasing initiatives taken by the government and pharmaceutical organizations to spread awareness and presence of generic manufacturer.
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.
The global hyperthyroidism 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 hyperthyroidism market.
Key players operating in the global hyperthyroidism market include:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
