Thyroid Gland Disorders Treatment Market Forecasts to 2030 - Global Analysis By Type of Disorder, Treatment Type, Route of Administration, Drug Type, Distribution Channel and By Geography

According to Stratistics MRC, the Global Thyroid Gland Disorders Treatment Market is accounted for $2.50 billion in 2024 and is expected to reach $3.69 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Thyroid gland disorders treatment refers to medical interventions aimed at managing conditions that affect the thyroid, a small gland in the neck responsible for regulating metabolism. Common thyroid disorders include hypothyroidism (underactive thyroid), hyperthyroidism (overactive thyroid), thyroid nodules, and thyroid cancer. Treatment options vary based on the disorder and may include hormone replacement therapy, anti-thyroid medications, radioactive iodine, or surgery.

According to the Canadian Cancer Society 2022 report, close to 6,700 Canadians were diagnosed with thyroid cancer in the year 2022.

Market Dynamics:

Driver:

Rising incidence of thyroid disorders

The rising incidence of thyroid disorders and increasing awareness of thyroid health, coupled with advancements in diagnostic technologies, leads to earlier detection and treatment. This growing patient population drives demand for effective therapies, including medications, radioactive iodine therapy, and surgical interventions. Additionally, the prevalence of risk factors such as obesity and autoimmune diseases further escalates the market's growth. Consequently, pharmaceutical companies are increasingly investing in research and development to offer innovative treatment options.

Restraint:

High cost of treatments

The high cost of treatments for thyroid gland disorders significantly hinders market growth by limiting patient access to necessary therapies. Many individuals may forgo or delay treatment due to financial constraints, leading to worsening health conditions. Additionally, insurance coverage can be inadequate, further exacerbating affordability issues. This situation discourages pharmaceutical companies from investing in new therapies, reducing innovation and competition in the market. Consequently, the overall treatment landscape becomes less effective, impacting patient outcomes and increasing the burden on healthcare systems, thus hindering the growth of the market.

Opportunity:

Partnerships and collaborations

Partnerships and collaborations in the thyroid gland disorders treatment market enhance research and development, facilitating the sharing of expertise and resources among pharmaceutical companies, healthcare providers, and research institutions. These alliances foster innovation in drug development and the introduction of advanced treatment modalities, improving patient outcomes. Collaborative efforts can also lead to more effective marketing strategies, increasing awareness and accessibility of therapies. Furthermore, partnerships can accelerate clinical trials, shorten time-to-market for new treatments, and help in obtaining regulatory approvals, ultimately propelling market growth.

Threat:

Intense competition

Intense competition in the thyroid gland disorders treatment market can hinder growth by driving down prices, which may reduce profit margins for manufacturers. Companies may invest heavily in marketing and promotions to gain market share, leading to increased operational costs. Additionally, the focus on competitive differentiation can divert resources from research and development, stalling innovation in treatment options. As companies prioritize short-term gains over long-term advancements, patients may face limited access to cutting-edge therapies, ultimately impacting overall market growth and patient outcomes.

Covid-19 Impact

The COVID-19 pandemic impacted thyroid gland disorders treatment by disrupting healthcare services, delaying diagnoses, and limiting access to routine care. Patients with thyroid disorders, especially those requiring regular monitoring or surgery, face postponements due to overwhelmed healthcare systems. Telemedicine emerged as a solution, enabling remote consultations and management. Additionally, COVID-19's effects on the immune system and its association with thyroid inflammation (thyroiditis) increased concerns about potential virus-induced thyroid dysfunction, influencing treatment approaches during and after the pandemic.

The medications segment is expected to be the largest during the forecast period

During the forecast period, the medications segment is anticipated to register the largest market share, due to non-invasive solutions for managing common thyroid conditions. For hypothyroidism, levothyroxine is widely prescribed to replace deficient hormones, while antithyroid drugs like methimazole and propylthiouracil treat hyperthyroidism by reducing excessive hormone production. These medications provide long-term disease management, often delaying or preventing the need for surgery or radioactive iodine therapy.

The injectable segment is expected to have the highest CAGR during the forecast period

During the projection period, the injectable segment is expected to grow at the highest CAGR, due to efficient and targeted treatment options, especially for patients with severe thyroid dysfunction. Injectable treatments, such as thyroid hormone injections or biologics, provide rapid relief in conditions like hypothyroidism or thyroid-related emergencies. Their effectiveness in delivering precise doses ensures better control of thyroid hormone levels compared to oral medications. The growing adoption of injectables, advancements in drug formulations, and the increasing prevalence of thyroid disorders contribute to the segment's growth.

Region with largest share:

During the estimation period, the Asia Pacific region is expected to capture the largest market share due to raised awareness of thyroid diseases and advancements in medical technology. Key therapies include hormone replacement treatments, antithyroid medications, and surgical interventions. Countries like India and China are witnessing significant growth driven by a growing patient population and enhanced healthcare infrastructure. Moreover, government initiatives promoting thyroid health and the rising adoption of telemedicine are further propelling market growth.

Region with highest CAGR:

The North America region is projected to achieve the highest CAGR during the forecast period, due to the rising prevalence of thyroid-related conditions, including hypothyroidism and hyperthyroidism. Advances in diagnostic technologies and the increasing adoption of targeted therapies contribute to market expansion. Additionally, the growing awareness of thyroid disorders among healthcare professionals and patients drives demand for effective treatments, including hormone replacement therapies and surgical options. Moreover, the presence of key market players and ongoing research into innovative therapies are expected to further enhance market dynamics in the region.

Key players in the market

Some of the key players profiled in the Thyroid Gland Disorders Treatment Market include Abbott Laboratories, AstraZeneca PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline PLC, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Boehringer Ingelheim GmbH, Amgen Inc., Takeda Pharmaceutical Company Limited, ThyroSafe, LLC, Hormone Health Network, Zydus Cadila, Mylan N.V., Hikma Pharmaceuticals PLC, Endo International PLC, Genzyme Corporation and Roche Holding AG.

Key Developments:

In September 2024, Abbott announced collaboration with the DoD to develop and distribute a rapid COVID-19 test that provides results in under 30 minutes, aiming to enhance testing capabilities for military personnel.

In August 2024, Abbott acquired Walk Vascular, a company specializing in advanced vascular access solutions, enhancing its product portfolio in medical devices for vascular access.

In April 2024, Abbott formed a joint venture with Axiom Health to create digital health solutions that integrate diagnostics with data analytics to improve patient outcomes in chronic disease management.

Type of Disorders Covered:

• Hypothyroidism
• Hyperthyroidism
• Goiter
• Thyroid Cancer
• Hashimoto's Thyroiditis
• Graves' Disease
• Thyroid Nodules
• Other Type of Disorders

Treatment Types Covered:

• Medications
• Surgery
• Radiofrequency Ablation
• Other Treatment Types

Route of Administrations Covered:

• Oral
• Injectable
• Topical
• Other Route of Administrations

Drug Types Covered:

• Levothyroxine
• Liothyronine
• Propylthiouracil
• Imidazole-Based Compounds
• Other Drug Types

Distribution Channels Covered:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Clinics
• Other Distribution Channels

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances