Global Thyroid Gland Disorder Treatment Market To Grow Steadily
The global thyroid gland disorder treatment market was worth US$1.8 billion in 2014 and is projected to reach a market value of US$2.4 billion in 2023 intensifying at a CAGR of 3.1% from 2015 to 2023. The thyroid gland produces thyroid hormones that control some of the most essential functions in the human body such as stimulating growth and other metabolic processes. A hyperactive as well as hypoactive thyroid could end in wide-ranging health complications, right from life intimidating cancer to an innocuous goiter.
Freshly piloted investigations divulge that an assessed 5 to 10 per cent of the worldwide population is affected by diverse thyroid gland ailments such as thyroid nodules, hypothyroidism, and hyperthyroidism. There has also been a rising occurrence of autoimmune maladies such as Hashimoto’s thyroiditis and Grave’s disease, which are connected to the growing frequency of hypothyroidism and hyperthyroidism. The lack of iodine in people around the world has also amplified which is another factor liable for the extensive incidence of thyroid gland conditions. These above-mentioned forces, along with the rise in elderly population, have determined the demand for thyroid gland disorder treatment market.
The global market for thyroid gland disorder treatment is expected to enlarge at a modest but firm stride by 2023. Amongst all the other regions, North America makes for the major thyroid gland disorder treatment market and is anticipated to maintain its lead in the forthcoming years. In addition to the growing occurrence of thyroid gland disorders in North America, the region is also motivated by the existence of flattering reimbursement strategies for the health care and medical industry – an element that lifts the thyroid gland disorder treatment market.
The developing markets in Asia Pacific have been spotting an augmented frequency of thyroid gland disorders and a developed level of responsiveness amongst the patients. The access to numerous cure options for thyroid gland disorders has grown in the Asia Pacific region, particularly in nations such as Malaysia, India, Japan, and China. This makesAPACan enormously money-spinning market for thyroid gland disorder treatment.
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