Thyroid Gland Disorders Therapeutics Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Thyroid Gland Disorders Therapeutics Market is segmented By Disease Type (Hypothyroidism, Hyperthyroidism, Others), By Drug Class (Thiourea derivatives, Propylthiouracil (PTU), Thyroid hormones, Electrolytes, Corticosteroids, Tricyclic antidepressants, Antiepileptic agents), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Global Industry Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

Global Thyroid Gland Disorders Therapeutics Market reached US$ 2.7 billion in 2023 and is expected to reach US$ 4.3 billion by 2031, growing at a CAGR of 6.3% during the forecast period 2024-2031

Thyroid gland disorders therapeutics involve medical interventions to treat abnormalities in thyroid function, such as hypothyroidism, hyperthyroidism, thyroid nodules, and thyroid cancer. Treatments include hormone replacement therapy, antithyroid medications, radioactive iodine, and surgical options. Advancements in molecular and targeted therapies improve treatment precision, providing more tailored solutions for patients. These treatments address metabolic imbalances caused by disrupted thyroid hormone production.

Market Scope

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Market Dynamics: Drivers & Restraints

Rise in the prevalence of thyroid disorders

The global thyroid gland disorders therapeutics market is experiencing growth due to the increasing prevalence of thyroid disorders like hypothyroidism, hyperthyroidism, thyroid nodules, and thyroid cancer. Factors like aging populations, genetic predispositions, and autoimmune diseases like Hashimoto's thyroiditis and Graves' disease are contributing to this increase.

For instance, according to America Thyroid Association, over 12 percent of the U.S. population will develop a thyroid condition, with 20 Billion Americans having some form of thyroid disease. Up to 60% of those with thyroid disease are unaware of their condition. Women are five to eight times more likely than men to have thyroid problems. One woman in eight will develop a thyroid disorder.

Most thyroid cancers respond to treatment, but a small percentage can be aggressive. Undiagnosed thyroid disease can lead to serious conditions like cardiovascular diseases, osteoporosis, and infertility. Pregnant women with undiagnosed or inadequately treated hypothyroidism have an increased risk of miscarriage and preterm delivery. 

Complications associated with the drugs

Thyroid gland disorders can result in various side effects, depending on the treatment. Hormone replacement therapy, used in hypothyroidism, can cause weight gain, hair loss, heart palpitations, anxiety, and insomnia. Antithyroid medications, like methimazole and propylthiouracil, can cause liver toxicity, skin rashes, joint pain, and reduced white blood cell counts, increasing the risk of infections. Radioactive iodine therapy can lead to long-term hypothyroidism, requiring lifelong hormone replacement, and may cause dry mouth, salivary gland inflammation, or taste changes.

Market Segment Analysis

The global thyroid gland disorders therapeutics market is segmented based on disease type, drug class, route of administration, distribution channel, and region.

The thyroid hormones from the drug class segment accounted for approximately 40.1% of the thyroid gland disorders therapeutics market share

The thyroid hormones from the drug class segment accounted for approximately 40.1%. Thyroid hormones are crucial in treating thyroid disorders, especially hypothyroidism. Hormone replacement therapies like levothyroxine are used to restore normal levels of thyroid hormones, regulating metabolism and energy levels. 

The increasing prevalence of hypothyroidism and improved diagnostic techniques have driven demand for these therapies. Thyroid hormone levels are monitored and managed in patients undergoing treatments for hyperthyroidism, nodules, and thyroid cancer. The reliance on thyroid hormone replacement as a lifelong treatment contributes significantly to market growth.

For instance, in December 2023, the FDA approved 2 changes to the label of levothyroxine sodium (Tirosint-SOL, IBSA), an oral solution that is aimed to treat hypothyroidism. The first change included the use of levothyroxine sodium combined with proton pump inhibitor (PPI) therapy. The second change included timing to administer levothyroxine sodium.

Market Geographical Analysis

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period due to increased prevalence, improved healthcare facilities, public awareness, and treatment options, as well as promotional strategies between governments and pharmaceutical companies.

For instance, in July 2024, the US Food and Drug Administration (FDA) granted full approval to the targeted therapy selpercatinib (Retevmo) for treating adult and pediatric patients 2 years and older with advanced or metastatic thyroid cancers that have certain changes in a gene called RET.

Market Segmentation

By Disease Type

• Hypothyroidism
• Hyperthyroidism
• Others

By Drug Class

• Thiourea derivatives
• Propylthiouracil 
  • Methimazole 
  • Beta-adrenergic blocking agents
  • Propranolol 
  • Others
• Thyroid Hormones
  • Levothyroxine 
  • Liothyronine
  • Others
• Electrolytes
  • Potassium chloride 
  • Others
• Corticosteroids
  • Prednisone
  • Others
• Tricyclic antidepressants
  • Amitriptyline
  • Others
• Antiepileptic agents
  • Gabapentin 
  • Others

By Route of Administration

• Oral 
• Parenteral
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Market Competitive Landscape

The major global players in the market include GlaxoSmithKline PLC, Abbvie Inc,Amgen Inc, Novartis AG, Mylan NV, Merck KGaA, Pfizer Inc, Takeda Pharmaceutical Company Limited, Elexis Inc, IBSA Pharma (IBSA Group) among others.

Key Developments

• In May 2023, Merck KGaA collaborated with the Executive Board of the Indonesian Medical Association and the Central Board of the Indonesian Thyroid Association to improve screening and diagnosis of thyroid disorders in Indonesia.
• In December 2023, Aspen Pharmacare Holdings Limited made an agreement with Sandoz AG to acquire its Chinese business, helping to expand its presence in China by establishing a portfolio for future growth in the region.

Why Purchase the Report?

• To visualize the global thyroid gland disorders therapeutics market segmentation based on disease type, drug class, route of administration, distribution channel, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of the thyroid gland disorders therapeutics market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global thyroid gland disorders therapeutics market report would provide approximately 64 tables, 61 figures, and 186 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies