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Anti-Thyroid Drugs Global Market Report 2023
Major players in the anti-thyroid drugs market are Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., AbbVie Inc, Pfizer Inc., Allergan plc., RLC LABS, Amgen Inc and Lannett Company Inc.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anti-Thyroid Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245007/?utm_source=GNW
The global anti-thyroid drugs market will grow from $2.45 billion in 2022 to $2.52 billion in 2023 at a compound annual growth rate (CAGR) of 3.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The anti-thyroid drugs market is expected to grow to $2.78 billion in 2027 at a CAGR of 2.5%.
The anti-thyroid drugs market consists of sales of levothyroxine, propylthiouracil, and methimazole.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anti-thyroid drugs refer to agents that function by preventing the manufacture of thyroid hormones or by reducing the action of thyroid hormones. Additionally, they are suggested for use in radioactive iodine uptake tests to assess thyroid function and safeguard the thyroid gland in case of radiation exposure.
North America was the largest region in the anti-thyroid drugs market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
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.
The main types of anti-thyroid drugs are thionamides (inhibition of hormone synthesis) and iodides (inhibition of hormone release).Ethionamide drugs pharmacologically normalize thyroid hormone levels.
The drugs are administered orally, and intravenously, and others are distributed by wholesalers/distributors, retail chains, online distribution, and others.
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 are also increasing. This results in the overall growth in the demand for anti-thyroid drugs thereby driving the market.
The anti-thyroid drugs market is being restrained by the side effects of medication used to treat hyperthyroidism conditions.There are many side effects associated with the medication used to treat hyperthyroidism.
For instance, according to a study it was found that the two most commonly used anti-thyroid medications propylthiouracil (PTU) and methimazole (MMI) cause hepatotoxicity and death in children and major abnormalities in the fetus.
Associations for thyroid care are launching initiatives to spread more awareness about thyroid disorders, updates on the recent treatment methods, and other summaries regarding various research on thyroid disorders.In the USA, nearly 60% of the population suffering from hyperthyroidism are unaware and remain undiagnosed.
To curb these issues, associations including the American Thyroid Association (ATA) are making an impact by educating people about thyroid disorders.Similarly, the Thyroid Foundation of Canada has also initiated awareness to awaken public interest and awareness about thyroid diseases including hyperthyroidism.
Other associations that are launching initiatives and awareness programs include the American Academy of Otolaryngology and the British Thyroid Foundation among others.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The anti-thyroid drugs market research report is one of a series of new reports that provides anti-thyroid drugs market statistics, including anti-thyroid drugs industry global market size, regional shares, competitors with an anti-thyroid drugs market share, detailed anti-thyroid drugs market segments, market trends and opportunities, and any further data you may need to thrive in the anti-thyroid drugs industry. This anti-thyroid drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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