Treatment for thyroid gland disorder is predicted to be a market worth $2.8bn by 2025, reflecting a CAGR of 3.8% between 2015-2018, according to Allied Market Research (AMR) report.
AMR also found that North America were the highest contributor to the market in 2017 due to the regions’ high prevalence rate for thyroid disorders, greater number of diagnosed patients compared to other regions and its well-established healthcare infrastructure. However, the report found that during the forecast period, APAC is predicted to experience the highest growth at a CAGR of 4.4%.
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Major factors expected to drive the growth are: increased incidences of thyroid gland disorders, the development of effective combination thyroid disorders drug therapies during the period and increasing numbers of disease awareness programs in developing regions. Among the disease type, the hypothyroidism segment occupied the largest share, and is anticipated to continue its dominance during the forecast period as it is the most commonly occurring thyroid disorder.
Despite the growth, AMR found that there were limitations, and stated that "side effects of the medication and stringent government regulations limit the market growth." However, they added that "availability of large pool of undiagnosed patients due to asymptomatic nature of thyroid disorders in the emerging economies are anticipated to provide numerous opportunities for the market growth during the forecast period."