Global Levothyroxine Market to Experience Rapidly Ascending Growth

  • 26 Jul 2019

Global Levothyroxine Market is projected to achieve a CAGR of over 4% from the forecast period 2019 to 2029.

The gradually increasing number of patients suffering from hypothyroidism is boosting the market. Levothyroxine acts as an analogue hormone that is used to replace the hormone in patients who are suffering from a thyroid issue. The rising awareness regarding hypothyroidism is also positively influencing the market. Mergers and acquisitions of a prominent player are also propelling the market. The merging of Amneal with Jerome Stevens Pharmaceuticals Inc. has strengthened the company's presence in North America.

Researchers have pointed out that Hypothyroid patients, when treated with levothyroxine sodium gel capsules, might experience less thyroid hormone changes than levothyroxine tablets. Thus capsules might represent as a lucrative opportunity for the manufacturers in the future.

The market is bifurcated into type, disease indication,  distribution channel and by region. Based on disease indication, hypothyroidism is projected to witness significant growth. According to the American Association of Clinical Endocrinologists (AACE), nearly 27 million people suffering from various thyroid disorders. Most of the people suffer from hypothyroidism and iodine deficiency. This has resulted in the growing demand for levothyroxine, thus accelerating the growth of the market. The American Thyroid Association (ATA) has found no better thyroid hormone replacements than levothyroxine, thus result in an escalation of the market.

In terms of type, intravenous injection is said to have substantial growth. Increasing R&D is set to boost the demand for intravenous injection, thus elevating the market.

In terms of distribution channel, hospital pharmacies are expected to dictate the market. Hospital pharmacies offer medical conditions aimed at curing hypothyroidism. They have experienced and trained personnel who supply medicines as per the requirement and conditions. Such factors have fueled the demand for hospital pharmacies, thus positively influencing the market.

In terms of region, North America is the global leader of the market. According to the American Thyroid Association report,  approximately 12% of the U.S. population will develop a thyroid condition during their lifetime. Rising prevalence of thyroid disorders and small treatment threshold are the major factors promoting the market in the region. Asia-Pacific region remains a lucrative space for manufacturers. Increase in awareness and substantial untapped opportunities are set to escalate the market in the region. The large patient population in developing economies like India and China is driving the growth of the market.

Prominent players of the market are IBSA Institut Biochimique SA, Cedirpof Inc., Piramal Critical Care Ltd., Goldline Laboratories, Inc., King Pharmaceuticals Research And Development Llc, Stevens Pharmaceuticals, Inc., Lloyd, Inc., Abbott Laboratories, Inc., Merck KGaA, Pfizer, Inc. and Mylan Laboratories, Inc.

Global Levothyroxine Market Segmentation:

By Disease Indication 

  • Hypothyroidism  
  • Goiter 
  • Thyroid Cancer  
  • Myxedema Coma 

By Type 

  • Tablet 
  • Intravenous Injection 

By Distribution Channel 

  • Hospital Pharmacy 
  • Retail Pharmacy 
  • Online Pharmacy 

Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Rest of World

Competitive Landscape:

• Tier 1 players- established companies in the market with a major market share

• Tier 2 players

• Emerging players which are growing rapidly

• New Entrants

FutureWise Takeaways:

• Growth prospects

• SWOT analysis

• Key trends

• Key data points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global levothyroxine  market based

on disease indication, distribution type, type, and region

• To cater comprehensive information on factors impacting market growth (drivers,

restraints, opportunities, and industry-specific restraints)

• To evaluate and forecast micro-markets and the overall market

• To predict the market size, in key regions (along with countries)—North America,

Europe, Asia Pacific, Latin America, and rest of the world

• To record evaluate and competitive landscape mapping- product launches,

technological advancements, mergers and expansions

• Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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