Hormones released by thyroid gland play a crucial role in stimulating metabolism, growth, and calories processing. Globally, thyroid gland disorders such as hypothyroidism, hyperthyroidism, and thyroid nodules affect around 5% to 10% of the population. Hyperthyroidism and hypothyroidism affect majority of the population primarily due to growing incidence of autoimmune diseases such as Grave’s disease and Hashimoto's thyroiditis. Moreover, iodine deficiency is a widespread problem across the globe and is measured as a prime risk factor for the increase in prevalence of thyroid disorders.
The global thyroid gland disorder treatment market represents a highly competitive and fragmented
landscape. This is mainly due to the presence of numerous small and large players in the market, says
Transparency Market Research.
Some of prominent players operating in the global thyroid gland disorder marker are Abbott, Pfizer,
GlaxoSmithKline, Mylan N.V., and Amgen. These players are relying on several strategies such as
partnership agreements, regional expansions, brand awareness activities, and increase product
profiliration in order to gain a competitive edge in the market. In addition, increasing FDA approval of
novel drug patent for the treatment of thyroid gland disorder treatment market is expected to fuel
rivalry among players in the coming years.
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In june 2018, Hutchison China MediTech Limited, a key players in the global throid gland disorder
treatment market has initiated a Phase Ib/II proof-of-concept study of sulfatinib in pancreatic
neuroendocrine. Once developed and successfully tested the drug is expected to treat tumors and
biliary tract cancer efficiently. This is expected to fuel tyroid gland disorder market in the coming years.
In the same year, another player called AmpliPhi Biosciences Corporation presented a AB-PA01
Bacteriophage Therap. As per the company it is helpful in treating patient with cystic fibrosis.
According to TMR, the global thyroid gland disorders treatment market was noted at a valuation of
US$1,954.7 mn in 2016. The market is expected to rise at a steady 3.3% CAGR from 2017 to 2025. Rising
at this CAGR, the global thyroid gland disorder treatment market is expected to hit a valuation of
US$2,609.9 mn by 2025.
On the basis of geography, North America is anticipated to dominate the global thyroid gland disorder
treatment market during the forecast period. This can be attributed by the fact higher investments in
research and development of novel dru