Published Date : Mar 09, 2016
The thyroid gland – a butterfly shaped glad at the base of the neck – produces thyroid hormones that impact some of the most fundamental functions in the human body such as stimulating growth and other metabolic processes. An overactive as well as underactive thyroid could result in a wide range of health problems, right from life threatening cancer to a harmless goiter.
Rising Incidence of Hyperthyroidism and Hypothyroidism Driving Demand for Thyroid Gland Disorder Treatment
Recently conducted surveys reveal that an estimated 5 to 10 per cent of the global population is affected by different thyroid gland disorders such as hypothyroidism, thyroid nodules, and hyperthyroidism. There has also been a growing incidence of autoimmune diseases such as Hashimoto’s thyroiditis and Grave’s disease, which is linked to the increasing prevalence of hypothyroidism and hyperthyroidism. The deficiency of iodine in people around the world has also increased – another factor responsible for the widespread prevalence of thyroid gland disorders. These aforementioned forces, in addition to the rise in aging population, has driven the demand for thyroid gland disorder treatment market.
North America Emerges as Largest Regional Market for Thyroid Gland Disorder Treatment
The global market for thyroid gland disorder treatment is anticipated to expand at a modest but steady pace by 2023. Among all the other regions, North America forms the largest thyroid gland disorder treatment market and is expected to retain its lead through the coming years. The National Health and Nutrition Examination Survey conducted in July 2012 reveals that the US reports a 4.6 per cent to 9.5 per cent prevalence of hypothyroidism. In addition to the rising incidence of thyroid gland disorders in North America, the region is also driven by the presence of favorable reimbursement policies for the health care and medical industry – a factor that boosts the thyroid gland disorder treatment market.
Asia Pacific Identified as Lucrative Market for Thyroid Gland Disorder Treatment
The emerging economies in Asia Pacific have been observing an increased prevalence of thyroid gland disorders and a higher level of awareness among the patients. The access to various treatment options for thyroid gland disorders has grown in the Asia Pacific region, especially in countries such as Japan, Malaysia, India, and China. This makes APAC an immensely lucrative market for thyroid gland disorder treatment.