Global Goitre Treatment Market - 2023-2030

Overview

The global goitre treatment market has witnessed significant growth and transformations over the years, with various factors influencing its dynamics such as increasing prevalence, rising clinical trials, research activities, and others. Government investments in the development of better treatment will continue to drive and boost the global market. Overall, the global goitre treatment market is expected to experience rapid growth in the coming years.

The goitre is mainly characterized by the irregular growth of the thyroid gland. The treatment of goiter includes thyroid hormone replacement therapy, anti-thyroid drugs, beta-blockers, pain relievers, radioactive iodine treatment, surgery (thyroidectomy), and others. The radioactive iodine treatment is expected to hold the largest market share from the treatment segment and is considered a first-line treatment. Similarly, North America dominates the market, capturing the largest market share owing to the region's advanced healthcare infrastructure, and favorable reimbursement policies.

Moreover, owing to the increasing prevalence of goitre, regulatory approvals, growing awareness and early detection, rising clinical trials for novel therapeutics, increasing demand for personalized medicines, and advancements in treatment options are the major factors expected to drive the global goitre treatment market over the forecast period. However, the availability of alternative treatment options and adverse effects associated with the treatment are the factors expected to hamper the market growth.

Dynamics

Rising Clinical Trials for Novel Therapeutics is Expected to Drive the Growth of the Market

There is an increasing demand for novel therapeutics, which is expected to drive the global market over the forecast period. Clinical trials are still going on for the development of novel therapeutics for better patient outcomes. The currently available treatments and therapeutics are not effective for all patients due to the treatment is based on thyroid enlargement and thyroid hormone levels, and there is also a need for new therapies and therapeutics that can achieve better and enhanced treatment results.

Moreover, for the development of innovative treatment options, clinical trials are very important to consider the safety concerns and efficacy of developing novel therapeutics. There is a continuously increasing prevalence of the goitre, for instance, according to the Cleveland Clinic organization, goitre affects an estimated 2.2 billion people. This increasing prevalence helps to perform more studies. Many comparison studies also helps to evolve new therapies and therapeutics with better results and with different mechanisms of action.

For instance, on July 2, 2023, the National Taiwan University Hospital announced that they started clinical trials for prospective comparison of the effect of antiadhesive barriers during thyroid or parathyroid surgery. The study is performing to develop the treatment or intervention of drugs such as oxidized regenerated cellulose drugs, and hyaluronic acid drugs for the treatment of goiter, thyroid cancer, and thyroidectomy conditions.

Growing Awareness and Early Detection is Expected to Drive the Growth of the Market

The growing awareness and early detection are expected to drive the market over the forecast period. Increased awareness about the signs and symptoms of goitre can helps to earlier detection and diagnosis of the condition, which further helps to manage and seeks the better treatment potentially reducing the need for more aggressive interventions like surgery.

Moreover, early detection can also helps individuals to take preventive measures, especially in regions where iodine deficiency is a common cause of goitre. These measures may include dietary changes to increase iodine intake or the use of iodized salt. As awareness grows, there may be a higher demand for diagnostic tools and tests that can accurately assess thyroid function and detect goitre.

Growing awareness can also lead to a greater need for patient education and support services. Patients with goitre and thyroid disorders may require information on managing their condition, dietary recommendations, and medication adherence, creating opportunities for healthcare providers and support organizations.

For instance, according to the National Nutrition Council, the fourth week of January is declared as Goiter Awareness Week (GAW) through Proclamation No. 1188 signed by former President Gloria Macapagal Arroyo on the 11th day of December 2006. This is to formulate guidelines and logistics to ensure the success of the yearly event which also includes information dissemination to further spread awareness and educate the masses about goiter and iodine deficiency disorders.

Availability of Alternative Treatment Options Expected to Hamper the Market's Growth

The availability of alternative treatment options is expected to hamper the market growth over the forecast period. Some individuals may choose to explore complementary and alternative medicine approaches to manage the goitre, such as herbal remedies, or dietary supplements. While these approaches may not be supported by robust scientific evidence, they can provide alternatives for those who are seeking non-conventional treatments.

Moreover, herbal supplements and natural remedies are often considered by individuals with thyroid issues. Lifestyle changes, including dietary adjustments and stress management techniques, may be recommended by alternative medicine practitioners. These approaches can be seen as an alternative to conventional medical treatments, which hampers the goitre treatment market.

Adverse Effects Associated with the Treatment Will also Hamper the Market Growth

The adverse effects associated with the goitre treatment are expected to hamper the market growth over the forecast period. If patients experience unpleasant side effects from medications or treatments, they may be less likely to adhere to their prescribed treatments. Poor compliance can lead to suboptimal treatment outcomes and potentially worsen the condition, which can limit the market's growth.

Furthermore, the fear of adverse effects can discourage some individuals from seeking medical treatment for goitre. This can result in delayed diagnosis and treatment, which may lead to more advanced stages of the condition. The presence of significant adverse effects associated with existing treatments can drive research and development efforts to discover safer and more effective therapies, potentially leading to the introduction of new treatments that compete with existing ones.

Segment Analysis

The global goitre treatment market is segmented based on goitre type, treatment, end-user and region.

The Radioactive Iodine Treatment Segment Accounted for Approximately 37.8% of the Goitre Treatment Market Share

Radioactive iodine treatment is expected to hold the largest market share over the forecast period. Treatment for goiter especially depends on the factors such as how large the thyroid has grown, symptoms, and what caused it. The radioactive iodine treatment is used in cases of an overactive thyroid gland and involves taking radioactive iodine orally. The iodine directly goes to the thyroid gland and helps to kill the thyroid cells, which results in shrinking the gland. After radioactive iodine treatment, it's better to take thyroid hormone replacement therapy for the rest of the life to avoid further complications.

Moreover, the radioactive iodine treatment is an older and best method for enhanced and better treatment. Following radioactive iodine treatment, patients with goitre can be monitored over the long term using radioactive iodine scans and blood tests. This provides a valuable tool for ongoing goitre management. Radioactive iodine is taken up primarily by thyroid tissue, making it a highly targeted therapy. This means it has minimal impact on other tissues and organs in the body, reducing the risk of side effects compared to more systemic treatments.

For instance, according to the National Institute of Health (NIH), Dr. Saul Hertz, founding director of Massachusetts General Hospital Thyroid Clinic, affiliated with Harvard University created a framework for radioactive iodine theranostics with preclinical experiments and clinical cases from 1937 to 1942. The first thyroid cancer treatment with radioactive iodine was applied in 1942 by Samuel Seidlin. This radioactive iodine treatment is applied for the treatment of thyroid cancer, goiter, and some iodine deficiency disorders.

Geographical Penetration

North America Accounted for Approximately 39.1% of the Market Share in 2022, Owing to the Advanced Healthcare Infrastructure and Favorable Reimbursement Policies

North America is expected to hold the largest market share over the forecast period owing to the advanced healthcare infrastructure and favorable reimbursement policies. North America, especially the United States and Canada is very well known for its advanced healthcare infrastructure including hospitals, specialty clinics, research centers, ENT clinics, and others. This advanced healthcare infrastructure helps to treat patients in a better way.

According to the Cleveland Clinic Organization, goiter affects about 5% of people in the United States. This increasing prevalence can be controlled by advanced healthcare infrastructure by early detection and advanced treatment.

Furthermore, North America is also known for its favorable reimbursement policies for offering patients which helps for effective treatment and early prevention. The improved insurance coverage offers the better treatment for many patients at affordable costs without the burden to the goitre patients, leading to market dominance in the region.

Competitive Landscape

The major global players in the goitre treatment market include Abbvie Inc., Merck KGaA, Pfizer Inc., Viatris Inc., Exelixis Inc., Abbott Laboratories, Mylan Laboratories Inc., Lannett Company, Inc., BTG International Inc., and ANBEX INC. among others.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic in late 2019 created unprecedented challenges for pharmaceutical industries worldwide, including the global goitre treatment market. During the pandemic, many clinical trials, and research activities to develop new treatment options, have been temporarily postponed due to the redirected focus on the COVID-19 pandemic and its related restrictions.

The onset of the pandemic in early 2020 led to widespread lockdowns and restrictions, impacting regular thyroid and goiter check-ups, appointments, and consultations worldwide due to many hospitals being focused on COVID-19 cases, this reduced thyroid-related treatments including goitre treatment impacted the global market.

Moreover, the COVID-19 pandemic severely disrupted global supply chains, impacting the transportation of raw materials of goiter-related therapeutics such as anti-thyroid drugs, beta-blockers, and others. Movement restrictions and border closures delayed shipments and caused drug transportation delays. Additionally, some countries faced shortages of drugs for treatment due to disruptions in their supply chain networks.

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global goitre treatment market. Many clinical trials and research activities are temporarily disrupted. The conflict has less impact mainly due to the low prevalence and absence of key market players in this region. The impact of the import and export of raw materials is expected to have little influence over the global market growth over the forecast period.

By Goitre Type

• Based on Enlargement
  • Simple (Diffuse) Goitre
  • Nodular Goitre
  • Multinodular Goitre

• Based on Thyroid Hormone Levels
  • Toxic Goitre
  • Nontoxic Goitre

By Treatment

• Thyroid Hormone Replacement Therapy
• Anti-Thyroid Drugs
• Beta Blockers
• Pain Relievers
• Radioactive Iodine Treatment
• Surgery (Thyroidectomy)
• Others

By End-User

• Hospitals
• Specialty Clinics
• ENT Clinics
• Ambulatory Surgical Centers
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On January 18, 2023, drug major Cipla said that it has launched a diagnostic device for various conditions including diabetes, infectious diseases, and thyroid function. The product, Cippoint, a point-of-care testing device offers a wide range of testing parameters including cardiac markers, diabetes, infectious diseases, fertility, thyroid function, inflammation, metabolic markers, and coagulation markers. The device is approved by the European In-Vitro Diagnostic Device Directive, thus ensuring reliable testing solutions.
• On November 19, 2021, Swiss medtech company Bloom Diagnostics launched its Bloom Thyroid Test to help detect hypothyroidism. Bloom Diagnostics is an innovative MedTech company that has developed a smart self-testing system for a wide range of medical conditions. The single-use kit can be used to test adults for thyroid-stimulating hormone (TSH) as a means of detecting thyroid dysfunction in adults. The Bloom Thyroid test received the approval certificate from the Notified Body, which will allow lay users to perform the test at home.

DataM Intelligence Opinion:

According to the DataM Intelligence, the goitre treatment market experiencing the rapid growth in recent years and is expected to grow rapidly in the coming years owing to its increasing prevalence mainly due to iodine deficiency and many companies are focusing to develop novel therapeutic innovations for better patient outcomes. Many innovative treatment options are going to develop in the coming years by reducing the adverse effects and for effective treatment. Moreover, many clinical trials and research activities are still going on for novel therapeutics, which is expected to growth of the global goitre treatment market in the upcoming years.

Why Purchase the Report?

• To visualize the global goitre treatment market segmentation based on goitre type, treatment, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of goitre treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global goitre treatment market report would provide approximately 61 tables, 58 figures, and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies