How Global Anti-Thyroid Drugs Market Players Should Strategize For 2022-2031
20 May, 2022
The global anti-thyroid drugs market size is expected to grow from $2.32 billion in 2021 to $2.42 billion in 2022 at a compound annual growth rate (CAGR) of 4.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global anti-thyroid drug market is expected to reach $2.72 billion in 2026 at a CAGR of 3.0%.
What is the Global Anti-Thyroid Drugs Market?
The anti-thyroid drugs market consists of sales of anti-thyroid drugs and related services which are used for the treatment of hyperthyroidism. Hyperthyroidism is caused by over production of thyroid hormones in children, adults and pregnant women. Anti-thyroid class of drugs are also called thioamides which block the formation of thyroid hormone from over active thyroid gland.
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What drives the Global Anti-Thyroid Drugs Market?
Graves’ disease is one of the direct causes of hyperthyroidism and the incidence of Graves’ disease increasing. According to a research study published in 2020, in developed countries, Graves' disease (GD) is the most common cause of hyperthyroidism. It is more common between the ages of 30 and 60, and women are 5–10 times more likely than men. Genetic predisposition accounts for 79% of the risk for GD, while environmental factors account for 21%. Owing to the rising number of Grave’s disease, people suffering from hyperthyroidism is also increasing. This results in the overall growth in the demand for anti-thyroid drugs thereby driving the market.
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Global Anti-Thyroid Drugs Market Segments
The global anti-thyroid drugs market is segmented:
By Drug Type: Thioamides (Inhibition of Hormone Synthesis), Iodides (Inhibition of Hormone Release)
By Route of Administration: Oral, Intravenous, Others
By Distribution Channel: Wholesaler/Distributors, Retail Chain, Online Distribution, Others
By Geography: The regions covered in the anti-thyroid drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Anti-Thyroid Drugs Global Market Report 2022 provides market size and growth forecasts for the global anti-thyroid drugs market, global anti-thyroid drugs market share, anti-thyroid drugs market segments and geographies, anti-thyroid drugs market competitive landscape including leading competitors’ revenues, profiles and market shares. The anti-thyroid drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Anti-Thyroid Drugs Industry Players include Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., AbbVie Inc, Pfizer Inc., Allergan plc., RLC LABS, Amgen Inc and Lannett Company Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.