Overview:
Increasing prevalence of associated conditions, rising awareness about thyroid disease, and favorable reimbursement policies are some of the factors supporting the growth of the global thyroid disorder market. In developing countries, the market proliferation is sluggish owing to factors such as poor healthcare penetration, high-cost of treatment and lack of healthcare programs. Many of the developing countries have massive pools of price-sensitive patients that show high reluctance towards expensive treatment options.
Booming economies across the world is experiencing a radical shift to urbanization which, in a supple way, is creating a physiological disorder that is giving rise to the prevalence of various ailments. Diseases such as obesity, thyroid, autoimmune diseases are a common byproduct of this shift and trigger thyroid disorders in many which, if not checked, in time can cause severe brain damage. The global market for the thyroid disorder is expected to rise with a moderate 3.1% CAGR during the forecast period (2013-2022) and can reach up to a valuation of USD 2400.8 million in the same period. The rising cases of thyroid disorder have become a concern for many initiating a collaborative agreement between private and public organizations to spread awareness. Efforts made by the pharmacies can be considered a tactical gambit in this context. As per the report of the International Thyroid Society, near about 20 million Americans are diagnosed with some form of thyroid disease, and around 12% can get affected by it in their lifetime. Chances of contracting the disease can aggravate if the patient has diabetes.
However, the treatment incurs high cost, and alternative treatment options are on the rise which can act as a headwind for the market. Side-effects of the treatment cannot be blind sighted as well. In considering the future of the market, this can seriously cause a plummeting effect.
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Industry Trend:
New research by the University of Colorado School of Medicine Department of Radiation Oncology has revealed that thyroid tumors can be treated with stereotactic body radiation therapy (SBRT). The side-effects would be far lesser than the traditional method and the treatment promises the better chance of recovery. The University of Birmingham has recently called for universal testing for thyroid function to reduce the number of miscarriages and negative neurodevelopmental effects on the baby.
Segmentation:
The global thyroid disorder market can be segmented by treatment, disease indication, route of administration and end-users.
By treatment, the market is segmented into drugs & supplements, diagnostics, and surgery.
Based on disease indication, the market includes hypothyroidism, hyperthyroidism, and others. The hypothyroidism holds the largest market share.
Based on the route of administration, the market encompasses oral, injectable, and others. High efficacy and bioavailability made the oral segment the most preferable.
On the basis of end-users, the market comprises hospitals and home use.
Regional Analysis:
Region-specific segmentation includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa.
The Americas are currently leading the pack with the maximum share of the market. North America is spearheading the region with a considerable number of patients and advanced technologies used in treating the disease in multiple facilities. Europe assumes the second position. However, the APAC is set to register the maximum CAGR during the forecast period as the region has two countries such as China and India which are showing considerable expansion. Market incumbents are also launching strategies to raise awareness among the populace which can further boost the sector’s revenue.
Market Competition:
The presence of several big shots across the globe is promising for the market as this will keep the market competitive and help it gain much from research and developments.
Some of the key players in this market are namely Allergan (Ireland), Abbott Laboratories (US), GlaxoSmithKline Plc (UK), Merck & Co., Inc. (US), Pfizer Inc. (US), RLC LABS (US), AbbVie (US), Mylan (US)and others.
TABLE OF CONTENTS
1 Report Prologue$ 1,350.00
2 Executive Summary$ 1,350.00
3 Market Introduction$ 0.00
3.1 Definition 18
3.2 Scope Of The Study 18
3.3 List Of Assumptions 19
3.4 Market Structure 19
4 Research Methodology$ 0.00
4.1 Research Process 21
4.2 Primary Research 21
4.3 Secondary Research 22
4.4 Market Size Estimation 23
4.5 Forecast Model 24
5 Market Dynamics$ 950.00
5.1 Introduction 26
5.2 Drivers 26
5.2.1 Increasing Prevalence Of Thyroid Diseases 26
5.2.2 Rising Awareness Of Thyroid 26
5.2.3 Favorable Reimbursement And Funding Policies 27
5.2.4 Drivers Impact Analysis 27
5.3 Restraint 28
5.3.1 High Cost Of Treatment Procedures Such As Radioactive Iodine (RAI) Therapy 28
5.3.2 Side-Effects Related To Available Therapeutics 28
5.3.3 Restraints Impact Analysis 28
5.4 Opportunity 29
5.4.1 Emerging Markets Of Asia-Pacific 29
5.5 Macroeconomic Indicators 29
…Continued
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