Global Levothyroxine Sodium Market Share Is Expected to Grow At A CAGR Value Of Around 3.27% By 2030

27-Apr-2023 | Facts and Factors

According to the Facts and Factors report, the global levothyroxine sodium market size was valued at around USD 3,671 million in 2022 and is expected to grow around USD 4,598 million by 2030 with a compound annual growth rate (CAGR) of approximately 3.27% between 2023 and 2030.

Levothyroxine sodium Market

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Levothyroxine sodium is a wide variety of treatments that depend heavily on its effectiveness or bioavailability for the result. The administration to a person of a low-power or bioavailability drug product under conditions controlled by other products that lead to a sub-optimal response and hypothyroidism. On the other side, medicines with higher efficacy may lead to a toxic manifestation of thyroid problems, including heart arrhythmia, shortness of breath, and cardiac pain, making it important to prescribe only the right dose of sodium levothyroxine to patients with cardiovascular disease. The lowest effective levothyroxine dose should be titrated to minimize the risk of osteoporosis— a disease that is seen predominantly in women.

Browse the full “Levothyroxine sodium Market – By Type (Powder and Tablets), and By Distribution Channel (Hypermarkets, Supermarkets, Drug stores, Online stores, and Specialty stores): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2030." https://www.fnfresearch.com/levothyroxine-sodium-market-by-type-powder-and-tablets-1203

Hypothyroid therapy or an underactive thyroid condition is the single largest application of sodium levothyroxine — with targets for care to correct catabolic imbalances and reverse clinical progress. According to the American Association of Clinical Endocrinologists (AACE), most people suffer from hypothyroidism among some 27 million people with various thyroid disorders— the most common cause being autoimmune thyroiditis and odine deficiency. The increase in demand for levothyroxine for the treatment of thyroid cancer, apart from the decrease in the size of the enlarged thyroid gland, may increase sales of sodium levothyroxine products over the coming years.

Owing to the rising prevalence of high blood pressure and related complications, the demand for levothyroxine is expected to expand globally. The key drivers of this market are factors such as increasing geriatric population pools, sedentary lifestyles, changing dietary habits, ease of diagnosis, and increased awareness. However, poor compliance with treatment might hinder the segment's growth over the forecast period even if this risk is greatly offset by growing awareness and improving testing methods. Tablets were the largest segment of the market in 2022 based on type. This segment is anticipated to bolster throughout the forecast period, owing to ease of use and its effectiveness as compared to power. Based on distribution channels, online sales dominated the market in 2022, the growth is primarily attributable to easy availability and high internet penetration worldwide.

North America continues to dominate the global market for levothyroxine sodium. The Asia Pacific market is expected to rise at a faster rate of growth as a result of increased awareness among people, and presence of huge population in this region and increased investment by the pharmaceutical industry.

Report Scope

Report Attribute

Details

Market Size in 2022

USD 3,671 Million

Projected Market Size in 2030

USD 4,598 Million

CAGR Growth Rate

3.27% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Renew Life Robinson Pharma, Inc., Citrucel, Benefiber, Metamucil, Optimum Nutrition, Walgreens, BarnDad’s, SPECIES, Twinlab, Myogenix, Garden Of Life, and Others.

Key Segment

By Type, By Distribution Channel, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the leading players in the global market include

Renew Life Robinson Pharma, Inc., Citrucel, Benefiber, Metamucil, Optimum Nutrition, Walgreens, BarnDad’s, SPECIES, Twinlab, Myogenix, Garden Of Life, and Others.

This report segments the Levothyroxine sodium market as follows:

By Type Segmentation Analysis

  • Powder
  • Tablets

By Distribution Channel Segmentation Analysis

  • Hypermarkets
  • Supermarkets
  • Drug stores
  • Online stores
  • Specialty stores

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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