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Hashimoto's Thyroiditis Therapeutics Market

Market Insights on Hashimoto's Thyroiditis Therapeutics covering sales outlook, demand forecast & up-to-date key trends

Hashimoto's Thyroiditis Therapeutics Market By Dosage Form (Oral Powders, Capsule, Intravenous Injection, Oral Solution, Tablet), Route of Administration (Intravenous, Oral), Product Type (Synthetic Thyroid, Desiccated Animal Thyroid), Distribution Channel (Drug Stores, Hospital Pharmacies) & Region - Forecast 2022-2032

Hashimoto’s Thyroiditis Therapeutics Market Overview

The global Hashimoto's thyroiditis therapeutics market size is expected to reach US$ 7.4 Billion in 2022 and US$ 11.3 Billion in 2032. It is set to exhibit a steady growth at a CAGR of 5.8% in the forecast period from 2022 to 2032. The rising awareness regarding the importance of timely diagnosis and treatment of thyroid disorders is projected to bolster the demand for Hashimoto's thyroiditis therapeutics.

Report Attribute

Details

Hashimoto’s Thyroiditis Therapeutics Market Estimated Base Year Value (2021)

US$ 6.2 Billion

Hashimoto’s Thyroiditis Therapeutics Market Expected Market Value (2022)

US$ 7.4 Billion

Hashimoto’s Thyroiditis Therapeutics Market Anticipated Forecast Value (2032)

US$ 11.3 Billion

Hashimoto’s Thyroiditis Therapeutics Market Projected Growth Rate (2022-2032)

5.8% CAGR

Hashimoto’s thyroiditis, often referred to as Hashimoto's disease, is an autoimmune disorder that turns the immune system against the body’s own tissues. The immune system attacks the thyroid and it can result in hypothyroidism.

Fatigue, weight gain, constipation, paleness, hair loss, joint pain, and depression are some of the common symptoms of this disorder. Though the exact cause of the disorder is still unknown, factors, such as radiation exposure, excessive iodine, hormones, and genes are believed to play a major role.

The increasing inclination of patients towards the T-4 hormone replacement therapy is estimated to propel the market. Hypothyroidism is often treated with levothyroxine, a synthetic hormone that is naturally produced by the thyroid.

The T-3 hormone replacement therapy is another popular treatment option that is set to gain momentum in the market. In this, naturally produced T-4 is converted into triiodothyronine.

Which are Some Prominent Drivers Spearheading Hashimoto’s Thyroiditis Therapeutics Market Growth?

The lack of iodine in the body is expected to lead to the rising prevalence of Hashimoto’s thyroiditis in the near future. As per the World Health Organization (WHO), more than 1.9 billion people have inadequate iodine nutrition across the globe. Out of these, nearly 285 million are school-aged children. These numbers are likely to surge in the forthcoming years, thereby bolstering the sales of Hashimoto's thyroiditis therapeutics.  

The ongoing development of numerous effective combination drug therapies for the treatment of thyroid gland disorder is anticipated to fuel the market. In addition to this, the presence of a large undiagnosed patient pool owing to the asymptomatic nature of their thyroid disorders is set to create new growth opportunities for key players.  

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What are the Challenges Faced by the Hashimoto’s Thyroiditis Therapeutics Industry?

The high entry barrier is expected to hamper the Hashimoto's thyroiditis therapeutics market growth in the upcoming years. The presence of multiple established companies, stringent compliance requirements, and strict norms for product commercialization are anticipated to make it difficult for small-scale firms to launch cutting-edge products.

The drugs that are required for the treatment of Hashimoto's thyroiditis are carefully manufactured with the help of novel techniques. These techniques are either trade secrets or patented by leading companies. This can create major challenges for new players as they are incapable of achieving such perfection during the manufacturing of drugs.

The inability of start-up companies to maintain long-term relationships with physicians and the marketing teams of renowned vendors is another factor that may obstruct the growth.

Why is North America emerging as an Opportunistic Hashimoto’s Thyroiditis Therapeutics Market?

North America is likely to remain at the forefront by generating the largest Hashimoto’s thyroiditis therapeutics market share in the assessment period. The rising cases of thyroid disorders in the U.S. and Canada is a significant factor that is projected to augur well for the market.

According to the American Thyroid Association, approximately 20 million Americans suffer from some form of thyroid disease and more than 12% of the U.S. population will develop a thyroid disorder in their lifetime. This trend is set to continue throughout the forecast period, thereby pushing the North America market.

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How is Europe Contributing to Growth of the Hashimoto’s Thyroiditis Therapeutics Market?

The presence of numerous established players and the high healthcare expenditure in the U.K. are set to spur the Europe Hashimoto’s thyroiditis therapeutics market size in the evaluation period. Many non-governmental and governmental organizations in this country are expected to launch new campaigns that would help people in better understanding the preliminary symptoms of complex thyroid disorders.

The rising exposure to harmful radiation is another vital factor that is anticipated to accelerate the market. The increasing prevalence of hyperthyroidism across Europe owing to the surging smoking habit among people is also expected to bode well for the market.

Market Competition

Some of the leading companies present in the global Hashimoto’s thyroiditis therapeutics market are Pfizer, Inc., LGM Pharma, Jerome Stevens Pharmaceuticals, Inc., Merck KGaA, Shenzhen Zhonglian Pharmaceutical, Taj Group, Berlin-Chemie, Sandoz, Sichuan Hairong Pharmaceutical, and Manus Aktteva among others.

Majority of the leading players are deploying numerous strategies, such as collaboration and acquisition to remain at the forefront in the market. Some of the other companies are investing huge sums in research and development activities to introduce innovative therapeutics and gain fast track approval from government bodies. Meanwhile, a few others are focusing on expanding their manufacturing facilities to meet the high demand for novel healthcare products worldwide.

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Scope of Report 

Report Attribute

Details

Growth Rate

CAGR of 5.8% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Dosage Form
  • Route of Administration
  • Distribution Channel
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Easter Europe
  • APEJ
  • Japan
  • Middle East & Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Pfizer, Inc.
  • LGM Pharma
  • Jerome Stevens Pharmaceuticals, Inc.
  • Merck KGaA
  • Shenzhen Zhonglian Pharmaceutical
  • Taj Group
  • Berlin-Chemie
  • Sandoz
  • Sichuan Hairong Pharmaceutical
  • Manus Aktteva

Customization

Available Upon Request

Key Segments Profiled in the Hashimoto’s Thyroiditis Therapeutics Industry Survey

By Dosage Form:

  • Oral Powders
  • Capsule
  • Intravenous Injection
  • Oral Solution
  • Tablet

By Route of Administration:

  • Intravenous
  • Oral

By Product Type:

  • Synthetic Thyroid
  • Desiccated Animal Thyroid

By Distribution Channel:

  • Drug Stores
  • Hospital Pharmacies
  • Mail Order Pharmacies
  • Retail Pharmacies

By Region:

  • North America
  • Latin America
  • Western Europe
  • Easter Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

The global Hashimoto’s thyroiditis therapeutics market is estimated to exceed US$ 11.3 Billion by 2032.

North America is likely to dominate the Hashimoto’s thyroiditis therapeutics market.

Pfizer, Inc., LGM Pharma, Jerome Stevens Pharmaceuticals, Inc., Merck KGaA, Shenzhen Zhonglian Pharmaceutical, and Taj Group are some of the leading companies in the Hashimoto’s thyroiditis therapeutics market.

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Sabyasachi Ghosh
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Hashimoto's Thyroiditis Therapeutics Market