Overview and Scope
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.
Sizing and Forecast
The anti-thyroid drugs market size has grown steadily in recent years. It will grow from <b>$2.4 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 2.5%. </b> The growth in the historic period can be attributed to prevalence of thyroid disorders, advancements in drug development, healthcare infrastructure.
The anti-thyroid drugs market size is expected to see steady growth in the next few years. It will grow to <b>$2.75 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. </b> The growth in the forecast period can be attributed to patient awareness and education, healthcare expenditure, patient demographics, global economic conditions. Major trends in the forecast period include thyroid surgery and radioactive iodine alternatives, patient-centric care, telemedicine and remote monitoring.
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Segmentation & Regional Insights
The anti-thyroid drugs market covered in this report is segmented –
1) By Drug Type: Thionamides (Inhibition of hormone synthesis), Iodides (Inhibition of hormone release)
2) By Route of Administration: Oral, Intravenous, Other Route of Adminitration
3) By Distribution Channel: Wholesaler/Distributors, Retail Chain, Online Distribution, Other Distribution Channels
<b>North America</b> was the largest region in the anti-thyroid drugs market in 2023. The <b>Middle East</b> is expected to be the fastest-growing region in the anti-thyroid drugs market during 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, Africa
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Major Driver Impacting Market Growth
Graves’ disease is one of the direct causes of hyperthyroidism and the incidence of Graves’ disease increasing. According to National Library of Medicine, a US-based biomedical library operated by the United States federal government, 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.
Key Industry Players
Major companies operating in the anti-thyroid drugs market include <b>Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., AbbVie Inc., Pfizer Inc., Allergan plc, RLC LABS Inc., Amgen Inc., Lannett Company Inc., Sanofi S.A., Novartis AG, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Aspen Pharmacare Holdings Limited, Astellas Pharma Inc., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim GmbH, Daiichi Sankyo Company Limited, Roche Holding AG, Bayer AG, Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Cipla Inc., Lupin Limited, Cadila Healthcare Limited, Torrent Pharmaceuticals Ltd., Alkem Laboratories Ltd., Akorn Inc.</b>
The anti-thyroid drugs market report table of contents includes:
1. Executive Summary
2.Anti-Thyroid Drugs Market Characteristics
3. Anti-Thyroid Drugs Market Trends And Strategies
4.Anti-Thyroid Drugs Market analysis
5.Anti-Thyroid Drugs Market Size And Growth
6.Anti-Thyroid Drugs Segmentation
7.Anti-Thyroid Drugs Regional And Country Analysis
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27.Anti-Thyroid Drugs Competitive Landscape And Company Profiles
28. Anti-Thyroid Drugs Key Mergers And Acquisitions
29.Anti-Thyroid Drugs Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Mylan N.V.
- Abbott Laboratories
- GlaxoSmithKline plc
- Merck & Co.
- AbbVie Inc.
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