The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s anti-thyroid drugs market report forecasts the anti-thyroid drugs market size to grow to $2.78 Billion by 2027, with a CAGR (compound annual growth rate) of more than 2%.

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Anti-Thyroid Drugs Market Size Forecast
The global anti-thyroid drugs market is expected to grow from $2.45 billion in 2022 to $2.52 billion in 2023 at a compound annual growth rate (CAGR) of 3.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global anti-thyroid drugs market size is expected to grow to $2.78 billion in 2027 at a CAGR of 2.5%.

North America held the largest anti-thyroid drugs market share, and Middle East was the fastest-growing region in 2022.

Key Anti-Thyroid Drugs Market Driver ­– Growth In The Demand For Anti-Thyroid Drugs
According to a research study published in 2020, in developed countries, Graves’ disease (GD) is the most common cause of hyperthyroidism. It is more common between the ages of 30 and 60, and women are 5–10 times more likely than men. Genetic predisposition accounts for 79% of the risk for GD, while environmental factors account for 21%. Owing to the rising number of Grave’s disease, people suffering from hyperthyroidism are also increasing. This results in the overall growth in the demand for anti-thyroid drugs thereby driving the market.

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Key Anti-Thyroid Drugs Market Trend – Launching Initiatives
Associations for thyroid care are launching initiatives to spread more awareness about thyroid disorders, updates on the recent treatment methods, and other summaries regarding various research on thyroid disorders. In the USA, nearly 60% of the population suffering from hyperthyroidism are unaware and remain undiagnosed. To curb these issues, associations including the American Thyroid Association (ATA) are making an impact by educating people about thyroid disorders. Similarly, the Thyroid Foundation of Canada has also initiated awareness to awaken public interest and awareness about thyroid diseases including hyperthyroidism. Other associations that are launching initiatives and awareness programs include the American Academy of Otolaryngology and the British Thyroid Foundation among others.

Anti-Thyroid Drugs Market Segment
1) By Drug Type: Thionamides (Inhibition of hormone synthesis), Iodides (Inhibition of hormone release)
2) By Route of Administration: Oral, Intravenous, Other Route of Adminitration
3) By Distribution Channel: Wholesaler/Distributors, Retail Chain, Online Distribution, Other Distribution Channels

Anti-Thyroid Drugs Market Major Players and Strategies
Major players in the anti-thyroid drugs market are Mylan N.V., Abbott Laboratories, GlaxoSmithKline PLC., Merck & Co., AbbVie Inc., Pfizer Inc., Allergan PLC, RLC LABS, Amgen Inc., and Lannett Company Inc.

The Anti-Thyroid Drugs Global Market Report 2023 covers regional data on anti-thyroid drugs market size, anti-thyroid drugs market trends and drivers, opportunities, strategies, and anti-thyroid drugs market competitor analysis. The countries covered in the anti-thyroid drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Anti-thyroid drugs refer to agents that function by preventing the manufacture of thyroid hormones or by reducing the action of thyroid hormones. Additionally, they are suggested for use in radioactive iodine uptake tests to assess thyroid function and safeguard the thyroid gland in case of radiation exposure.

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