PUBLISHER: Allied Market Research | PRODUCT CODE: 1193123
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193123
Iodine is an essential trace element that is present in the thyroid hormones, thyroxine and triiodotyronine. These hormones play an important role in regulation of weight, energy levels, internal temperature, skin, hair, nail growth, metabolism and is an important part of the endocrine system. But in some cases thyroid gland is underactive i.e. it is unable to produce enough hormones due to which hypothyroidism occurs. The main cause of iodine deficiency disorder is hypothyroidism, which leads to development and metabolic problems. The adverse effects of hypothyroidism may lead to major problems such as abortion, still birth to mental and physical retardation and deafness.
The growth of global iodine deficiency drug market is driven by increase in iodine deficiency disorders, increase in awareness about iodine deficiency and also various drug launches by pharmaceutical key players. Moreover, the increase in prevalence of hypothyroidism cases in developing regions is a key factor which boosts the growth of market. Also, increase in prevalence of iodine deficiency cases in new born drives the growth of market. In addition, awareness programs across the globe by WHO, UNICEF for iodine deficiency will drive the market growth. For instance, according to WHO 2022, universal salt iodization program is introduced to combat iodine deficiency disorders across globe which fuels the growth of market.
However, side effects associated with iodine deficiency drugs and patent expiry of branded version are the restraints that decrease the growth of market. When thyroxine consumption is excess, various consequences can occur like thyroiditis, hyperthyroidism, and thyroid papillary cancer, brassy taste in the mouth, increased salivation, and gastrointestinal irritation which hinder the growth of market.
The global iodine deficiency drug market is segmented into dosage form, distribution channel and region wise. By dosage form, the market is categorized into tablets and others (softgel capsules, liquid formulations and injections). On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global iodine deficiency drug market are Abbott Laboratories, AbbVie Inc, Cipla Ltd, Fresenius SE & Co. KGaA (Fresenius Kabi), GlasxoSmithKline, Lupin, Macleods Pharmaceuticals, Merck KGaA, Pfizer, and Teva Pharmaceutical Industries Ltd, Inc.
Key Benefits For Stakeholders
By Distribution Channel
By Dosage Form
By Region