Rising occurrence of hypothyroidism and rising awareness levels in the individuals are the key contributors to the market growth. Numerous companies are collaborating with the government organizations and groups to spread the awareness regarding the disease management and this is estimated to fuel adoption of drugs for the treatment of the thyroid gland disorders during the forecast period.
The disorders may result from the structural or functional abnormalities. As of now, the disorder affects over 200 million people all around the globe and in most of the countries, half of population remains undiagnosed. The condition is common among the women and elderly. Data by the Thyroid Foundation of Canada, state that one in 1700 children in the Canada is affected by the congenital hypothyroidism, in 2015. This shows potential demand for the anti-thyroid drugs in coming years.
Rise in collaborative agreements between the public and private organizations to spread the awareness pertaining to the thyroid management among patients and healthcare professionals is anticipated to fuel the market growth. Numerous government organizations including American Academy of Otolaryngology, The American Thyroid Association (ATA), British Thyroid Foundation, and the Thyroid Foundation of Canada and many others are involved in many promotional activities to generate awareness regarding disease and its treatment alternatives.
Segment Overview
Based on indication, the market is divided into hyperthyroidism and hypothyroidism. Hypothyroidism accounted for largest revenue share in 2019 owing to the high prevalence of the condition, with about 90.0% of total diseased population displaying an indication.
Major drug classes used in the treatment of hypothyroidism are Levothyroxine and Liothyronine. Levothyroxine, is a hormone replacement drug that held the dominant share in 2019 and is predictable to maintain position throughout forecast period. Brand names of the drug class in U.S. are Tirosint, Levoxyl, and Synthroid; the company’s manufacturing the generic equivalents for the drug class are Merck KGaA; Mylan; and Lannett Company, Inc.
Regional Overview
North America accounted for largest revenue share in 2019 and is expected to increase at an exponential CAGR during the forecast period. Existence of efficient healthcare facilities, more awareness levels among individuals, and plenty availability of the treatment alternatives to choose from are the factors responsible for large revenue share.
Strategic partnerships between the pharmaceutical companies and the government organizations are on rise in the region, mainly to develop the generic drugs and to spread awareness among healthcare professionals. This makes North America market extremely lucrative. For instance, the manufacturer Genzyme, in partnership with the Veracyte Inc., will be providing personalized solutions for treatment of disorders related to thyroid gland.
The Asia Pacific market is anticipated to exhibit lucrative CAGR as the manufacturers in the region are focusing on the development of various low-cost products with greater efficiency. In addition, players are capitalising in local companies in region, involved by the lower cost of labour and raw material.
Competitor overview
The market is split in nature with many large and small manufacturers operating in the industry. It is dominated by the major participants including Abbott; Lannett Company, Inc.; Pfizer; GlaxoSmithKline; Mylan N.V.; Merck KGaA; AbbVie Inc.; and the Amgen. Companies are implementing strategies such as regional expansions, partnership agreements, promotional activities, and the new product development to gain edge over their competition. Additionally, strategic actions commenced by U.S. FDA and the other supervision authorities to prevent the hurdles in entry of the generic drug makers in market is expected to boost industry rivalry in the coming years.
Key Players
- Abbott;
- Pfizer;
- Lannett Company, Inc.;
- GlaxoSmithKline;
- Merck KGaA;
- Mylan N.V.;
- AbbVie Inc.;
- Amgen
Market Segmentation
By Indication
- Hypothyroidism
- Hyperthyroidism
- Intravenous
- Oral
- Others
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
Table of Contents
1 Report Prologue 12
2 Executive Summary 14
3 Market Introduction 17
- 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 20
- 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 25
- 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
6 Market Factor Analysis 30
- 6.1 Porter’s Five Forces Model 31
- 6.1.1 Threat of New Entrants 32
- 6.1.2 Bargaining Power of Suppliers 32
- 6.1.3 Threat of Substitutes 32
- 6.1.4 Bargaining Power of Buyers 32
- 6.1.5 Intensity of Rivalry 32
7 Global Thyroid Disorder Market, by Type 33
- 7.1 Overview 34
- 7.1.1 Introduction 34
- 7.1.2 Hypothyroidism 35
- 7.1.3 Hyperthyroidism 36
8 Global Thyroid Disorder Market, by Treatment 37
- 8.1 Overview 38
- 8.1.1 Introduction 38
- 8.1.2 Medications 39
- 8.1.3 Radioactive Iodine Therapy 40
- 8.1.4 Surgery 41
9 Global Thyroid Disorder Market, by Route of Administration 42
- 9.1 Overview 43
- 9.1.1 Oral 44
- 9.1.2 Intravenous 45
10 Global Thyroid Disorder Market, by End User 46
- 10.1 Overview 47
- 10.1.1 Hospitals 48
- 10.1.2 Clinics 49
11 Global Thyroid Disorder Market, by Region 50
- 11.1 Overview 51
- 11.2 Americas 52
- 11.2.1 North America 55
- 11.2.1.1 US 57
- 11.2.1.2 Canada 58
- 11.2.2 South America 60
- 11.2.1 North America 55
- 11.3 Europe 62
- 11.3.1 Western Europe 64
- 11.3.1.1 Germany 66
- 11.3.1.2 France 68
- 11.3.1.3 UK 69
- 11.3.1.4 Italy 71
- 11.3.1.5 Spain 73
- 11.3.1.6 Rest of Western Europe 74
- 11.3.2 Eastern Europe 76
- 11.3.1 Western Europe 64
- 11.4 Asia-Pacific 78
- 11.4.1 Japan 81
- 11.4.2 China 82
- 11.4.3 India 84
- 11.4.4 Republic of Korea 86
- 11.4.5 Australia 87
- 11.4.6 Rest of Asia-Pacific 89
- 11.5 Middle East & Africa 91
- 11.5.1 Middle East 93
- 11.5.2 Africa 95
12 Competitive Landscape 97
- 12.1 Company Market Share Analysis 98
- 12.1.1 Introduction 98
13 Company Profiles 99
- 13.1 Pfizer Inc 100
- 13.1.1 Company Overview 100
- 13.1.2 Financial Overview 100
- 13.1.3 Products/Services Offered 101
- 13.1.4 Key Developments 101
- 13.1.5 SWOT Analysis 101
- 13.1.6 Key Strategy 101
- 13.2 Allergan Inc. 102
- 13.2.1 Company Overview 102
- 13.2.2 Financial Overview 102
- 13.2.3 Products/Services Offered 103
- 13.2.4 Key Developments 103
- 13.2.5 SWOT Analysis 103
- 13.2.6 Key strategy 103
- 13.3 AbbVie Inc. 104
- 13.3.1 Company Overview 104
- 13.3.2 Financial Overview 104
- 13.3.3 Products/Services Offering 105
- 13.3.4 Key Developments 105
- 13.3.5 SWOT Analysis 105
- 13.3.6 Key Strategy 105
- 13.4 Merck KGaA 106
- 13.4.1 Company Overview 106
- 13.4.2 Financial Overview 106
- 13.4.3 Products/Services Offering 107
- 13.4.4 Key Developments 107
- 13.4.5 SWOT Analysis 107
- 13.4.6 Key Strategy 107
- 13.5 RLC Labs 108
- 13.5.1 Company Overview 108
- 13.5.2 Financial Overview 108
- 13.5.3 Products/Services Offered 108
- 13.5.4 SWOT Analysis 108
- 13.5.5 Key Developments 108
- 13.5.6 Key strategy 108
- 13.6 Abbott Laboratories 109
- 13.6.1 Company Overview 109
- 13.6.2 Financial Overview 109
- 13.6.3 Products/Services Offered 110
- 13.6.4 Key Developments 110
- 13.6.5 SWOT Analysis 110
- 13.6.6 Key Strategy 110
- 13.7 GlaxoSmithKline Plc 111
- 13.7.1 Company Overview 111
- 13.7.2 Financial Overview 111
- 13.7.3 Products/Services Offered 112
- 13.7.4 Key Developments 112
- 13.7.5 SWOT Analysis 112
- 13.7.6 Key Strategy 112
- 13.8 Mylan 113
- 13.8.1 Company Overview 113
- 13.8.2 Financial Overview 113
- 13.8.3 Products/Services Offered 114
- 13.8.4 Key Developments 114
- 13.8.5 SWOT Analysis 114
- 13.8.6 Key Strategy 114
14 Appendix 115
- 14.1 Discussion Blue Print 116
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
