Iodine Deficiency Drug Market Future Scope (2023-2028): Key Factors, Status and Forecast
The Iodine Deficiency Drug Market is estimated to grow at a rate of 5.6% CAGR by 2028.
Market Research Engine has published a new report titled as “Iodine Deficiency Drug Market by Distribution Channel (Hospital Pharmacies, Drug stores and Retail Pharmacies and Online Providers), Dosage Form (Tablets and Others) and Geography (North America, Europe, APAC and RoW)-Forecast up to 2023 -2028.”
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Iodine Deficiency Disorder (IDD) is one of the major worldwide public health issues. An insufficient dietary intake of iodine results in insufficient production of thyroid hormones. Tissues are negatively affected due to insufficient hormone production, which leads to the disease states referred collectively as iodine deficiency disorders, or IDD. Extreme and prolonged iodine deficiency may result in a deficient supply of thyroid hormones. This condition is known as hypothyroidism. IDD is a rare endocrinology illness in which the thyroid gland in the neck produces insufficient amounts or is incapable of creating thyroid hormone owing to a lack of iodine, which is a vital nutrient for the growth and function of the thyroid gland. The body’s metabolism, temperature, and heart rate regulation is the responsible of the thyroid hormone. As per the World Health Organization (WHO), approximately 2 billion people around the world are at risk of iodine deficiency, and it is projected that iodine deficiency impacts around 30% of the world population. This rising prevalence is augmenting the demand for iodine deficiency drugs eventually, market growth. Moreover, iodine deficiency causes several issues, ranging from miscarriage and stillbirth to physical and mental retardation and hearing. On the other hand, the adverse impacts associated with levothyroxine drug used for hypothyroidism may limit the market growth. The Iodine Deficiency Drug Market is estimated to grow at a rate of 5.6% CAGR by 2028.
The Iodine Deficiency Drug Market has been segmented as below:
Iodine Deficiency Drug Market on the basis of Distribution Channel
- Hospital Pharmacies
- Drug stores and Retail Pharmacies
- Online Providers
Iodine Deficiency Drug Market on the basis of Dosage Form
- Tablets
- Others
Iodine Deficiency Drug Market on the basis of Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
In the market for Distribution Channel, the market is bifurcated into Hospital Pharmacies, Drug stores and Retail Pharmacies and Online Providers. The Drug stores and Retail Pharmacies segment is likely to dominate the Iodine Deficiency Drug market growth. This is due to the surge in demand for iodine deficiency disorders and extensive usage of drugs for treatment of hypothyroidism by people in developing nations. Moreover, counseling of patients about the treatment options for common symptoms such as hypothyroidism is provided at the drug and retail pharmacies, thus providing unique benefit to the segment.
Further, on the basis of Dosage Form, the market is divided into Tablets and Others. The tablet based segment is estimated to hold a major share of the Iodine Deficiency Drug market. This is owing to the factors such as easy availability of tablets, minimum cost, easy to consume, suitable for wide range of population in developed as well as in developing nations.
In the market according to geography, the key regions are North America, Europe, Asia Pacific and Rest of the world. The North America region has the significant contribution in the Iodine Deficiency Drug market due to the rise in the healthcare infrastructure. In addition to this, the increasing awareness about the iodine deficiency will further fuel the expansion of the iodine deficiency market in region.
Moreover, the governments and healthcare organizations worldwide are creating awareness regarding the prominence of iodine in maintaining good health, particularly for pregnant women and children. This awareness is generating demand for iodine supplements and drugs worldwide. Further, iodized salt is a cost-effective and easy way to avoid iodine deficiency. The surging demand for iodized salt is propelling the demand for iodine deficiency drugs, as people who do not consume enough iodized salt may need supplements.
The report of iodine deficiency drugs market consists of profiles of the key vendors- Sanofi, Johnson & Johnson Services, Inc., Apitope Technology (Bristol) Ltd, F. Hoffmann La Roche Ltd, ILDONG PHARMACEUTICAL CO., LTD., Biotex Inc., Novartis AG, Immunovant, Inc., Lupin Pharmaceuticals, Inc., and GlaxoSmithKline plc.
The iodine deficiency is a very common disorder observed across the world which is leading to the numerous serious problems in men and women. As a result, the market for iodine deficiency drug is likely to witness a significant growth in the estimated period.
- This study represents the accurate evaluation of the iodine deficiency drugs market size and its share in the parent market
- Accurate estimations of future trends and changes in market dynamics are also included in this report.
- This report depicts the growth analysis of the iodine deficiency drugs market industry among North America, Asia Pacific, Europe, and rest of the world.
- Full analysis of the market’s competitive outlook and detailed information of vendors is defined in the study.
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TABLE OF CONTENTS
- Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
4. Market characteristics
5. Distribution Channel: Market Size & Analysis
5.1. Overview
5.2. Hospital Pharmacies
5.3. Drug stores and Retail Pharmacies
5.4. Online Providers
6. Dosage Form: Market Size & Analysis
7. Geography: Market Size & Analysis
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Rest of the World
8. Competitive Landscape
8.1. Competitor Comparison Analysis
8.2. Market Developments
8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
8.2.2. Product Launches and execution
9. Vendor Profiles
9.1. Sanofi
9.2. Johnson & Johnson Services, Inc.
9.3. Apitope Technology (Bristol) Ltd
9.5. ILDONG PHARMACEUTICAL CO., LTD.
9.6. Biotex Inc.
9.7. Novartis AG
9.8. Immunovant, Inc.
9.9. Lupin Pharmaceuticals, Inc.
9.10. GlaxoSmithKline plc
10. Analyst Opinion
11. Annexure
11.1. Report Scope
11.2. Market Definitions
11.3. Research Methodology
11.3.1. Data Collation and In-house Estimation
11.3.2. Market Triangulation
11.3.3. Forecasting
11.4. Report Assumptions
11.5. Declarations
11.6. Stakeholders
11.7. Abbreviations
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