Industry Outlook
Hypothyroidism as a syndrome was first recognized in the 1870s and its treatment with animal extracted thyroid was achieved in 1890s. Since 1927, synthetic thyroid hormone replacement therapy has been available, and in the recent years, there has been a minor shift in treatment away from levothyroxine. The currently popular treatment forms include use of liothyronine T3 as a monotherapy or even commonly combined with levothyroxine T3/T4. However, there is not current formulation of T3/T4 that completely replicates the natural hormone pattern released from human thyroid. Levothyroxine formulations have been vastly available across the global market.
"Hypothyroidism to occupy the Largest Revenue Share through the Forecast Period"
Hypothyroidism is the common thyroid disorder observed worldwide. Autoimmune diseases (Hashimoto thyroiditis) and iodine deficiency account for vast majority of primary hypothyroidism cases. Approximately one-third of the global population is housed in iodine deficient areas and the consequences of iodine deficiency often reflect through growth disorders and hypothyroidism. Hypothyroidism is tem times more prevalent in women than in men, whereas the prevalence of untreated overt hypothyroidism is significantly low. However, implementation of new thyroid function testing and low threshold treatment indication for thyroid disorders have resulted in growth in prescriptions of levothyroxine for hypothyroidism. In Europe, the prevalence of overt hypothyroidism ranged between 0.2% and 5.3%, which is further between 0.3% and 3.7% in the U.S.
"Asia Pacific Set to Become a Prominent Market for Levothyroxine Sodium"
North America remains the largest market for levothyroxine sodium drugs on the global front. The American thyroid Association reports that approximately 12% of the U.S. population shall develop thyroid condition during their lifetime, and 20 million Americans have some form of thyroid condition at any given time. High prevalence of thyroid disorders, better diagnostic regimen, and smaller treatment threshold are the key factors supporting the global dominance of North America market. Additionally, better reimbursements to levothyroxine drugs regimen both for short and long term treatments drive the market growth. On the other hand, Asia Pacific will progress at faster growth rate during the forecast period from 2021 to 2029. Rapidly growing awareness and significant untapped opportunities, along with evidently large patient population contribute to the rapid progress of Asia Pacific market. China and India are the most prominent markets for levothyroxine drugs. The prevalence of subclinical hypothyroidism in China has risen to 3.22%. A large cross-sectional multicity study in India reported high prevalence of hypothyroidism (10%).
In this report, the in-trend market dynamics of the global levothyroxine sodium are studied to reflect the qualitative and quantitative information pertaining to the industry. Factors such as drivers and challenges are studied in the report to determine the prevalent market trends. Opportunities for new and existing market players are also enumerated in this report. This study also includes profiling of key market players in terms of their business overview, financial status, product offering and key developments. Some of the major players profiled in this report include Mylan Laboratories, Inc., Farmak (Farmak Group N.V.), Goldline Laboratories, Inc., IBSA Institut Biochimique SA, Fresenius Kabi USA Llc, Piramal Critical Care Ltd., Cediprof, Inc., King Pharmaceuticals Research And Development Llc, Abbvie, Inc., Takeda Pharmaceutical Company Ltd., Merck KGaA, Jerome, Stevens Pharmaceuticals, Inc., Pfizer, Inc., Teva Pharmaceuticals, Abbott Laboratories, Inc., Sandoz (Novartis International AG), and Lloyd, Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Levothyroxine Sodium market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Disease Indication
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
