The global Iodine Deficiency Drug market size was valued at USD 3.7 Billion in 2021 growing at a CAGR of 7.95% from 2022 to 2032. Iodine deficiency disorders (IDD) are among the most serious global public health problems. Thyroid hormone synthesis is inadequate when there is insufficient dietary iodine consumption. Iodine deficiency diseases sometimes referred to as IDDs, are a group of illness conditions caused by inadequate hormone synthesis that have a negative impact on tissues. Thyroid hormones may not be produced in sufficient amounts in cases of severe and protracted iodine shortage. Hypothyroidism is the medical term for this ailment.
The driving factor of the Iodine Deficiency Drug market are:
- The growing number of countries that have introduced iodine supplementation programs
- increasing awareness of iodine in the human diet
increasing awareness of the importance of iodine in the human diet. Iodine is essential for the proper functioning of the thyroid gland, and a deficiency of iodine can lead to many health problems, including goitre, mental retardation, and cretinism. As a result, there is a growing awareness of the need to supplement the diet with iodine, and this is driving the growth of the iodine deficiency drug market.
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Key Highlights:
- The global Iodine Deficiency Drug market size was valued at USD 3.7 Billion in 2021 growing at a CAGR of 7.95% from 2022 to 2032.
- North America dominated the market in 2021
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2022 to 2032
Key Players
The Iodine Deficiency Drug market report gives comprehensive information about the company and its past performance. The report also provides a detailed market share analysis along with product benchmarking with key developments.
The key players profiled in the report are:
- Cipla Ltd
- Abbott Laboratories
- Abbvie Inc
- Fresenius SE and Co.
- Glaxosmithkline
- Lupin Ltd
- Merck KgaA
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Macleods Pharmaceuticals Ltd
The Global Iodine Deficiency Drug Logistic report also includes information on company profiles, product descriptions, revenue, market share data, and contact details for several regional, global, and local companies. Due to increased technological innovation, R&D, and M&A operations in the sector, the market is becoming more popular in particular niche sectors. Additionally, a large number of regional and local vendors in the Iodine Deficiency Drug market provide specialized product offerings according to geographical regions in keeping with the global manufacturing footprint. Due to the reliability, quality, and technological modernity of the worldwide suppliers, it is difficult for the new market entrants to compete.
COVID Impact
In terms of COVID-19 impact, the Iodine Deficiency Drug market report also includes the following data points:
- COVID-19 Impact on Iodine Deficiency Drug market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in the Iodine Deficiency Drug market
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Scope of the Report:
Market Segment By Therapy Type:
- Thyroid Hormone Replacement Therapy
- Radioactive Iodine Therapy
Market Segment By Treatment Type:
- Medication
- Surgery
- Radioactive Iodine
- Iodine Supplements
Market Segment By Dosage Form Type:
- Tablet
- Capsule
- Solution
- Powder
Market Segment By Route of Administration:
- Oral
- Injectable
Market Segment By End Users:
- Hospitals
- Homecare
- Specialty Clinics
- Others
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Key Region/ Countries Covered
- North America (US, Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of MEA)
- Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
North America dominates the iodine deficiency drug market because of its expanding healthcare infrastructure. Furthermore, increased awareness about iodine deficiency will drive the region’s iodine deficiency market growth throughout the forecast year. Asia Pacific is expected to see considerable growth in the iodine deficiency medicine market. Furthermore, the region’s population expansion is expected to drive the growth of the iodine deficiency medicine market in the future years.
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