The global thyroid disorder market within the Americas is divided into two segments: North America and South America. North America is poised to take the lead in this market, primarily propelled by the escalating incidence of thyroid disorders and the amplifying risk factors like obesity and diabetes. A 2016 survey conducted by the American Association of Clinical Endocrinologists (AACE) revealed that roughly 13 million individuals, accounting for 4.80% of the US population, grappled with thyroid disorders. Within this context, the American Thyroid Association reported that 4.6% of the US populace suffered from hypothyroidism, while 1.3% dealt with hyperthyroidism in 2017.
The introduction of naturally derived drugs has contributed significantly to the expanding thyroid market in this region. Associations such as the American Thyroid Association (ATA) and the Human Growth Foundation play crucial roles in disseminating awareness about thyroid disorders and available treatment modalities. Notably, the American Association of Clinical Endocrinologists (AACE) spearheaded a campaign in 2016 focused on augmenting public awareness and educating Americans about various thyroid disorder treatments.
The market's growth trajectory in North America is further fueled by the ongoing development of effective drug therapies targeting thyroid disorders. Moreover, the proliferation of disease awareness programs, especially in developing regions, has significantly contributed to market expansion. These initiatives aim not only to inform the populace about the prevalence and implications of thyroid disorders but also to underscore the available treatment avenues.
As advancements in drug therapies and awareness programs continue to evolve, the North American market for thyroid disorders is anticipated to witness sustained growth. The concerted efforts of medical associations and organizations dedicated to spreading awareness and advancing treatment options serve as pivotal drivers in addressing the challenges posed by thyroid disorders, ultimately aiming to improve patient outcomes and quality of life.
In 2017, North America held the lion's share of the thyroid disorder market, commanding an impressive 86.18% market stake equating to a value of USD 993.7 million. Forecasts indicate that this region is poised to sustain its dominance, expected to record the highest Compound Annual Growth Rate (CAGR) of 3.73% throughout the forecast period. On the other hand, South America emerged as the second-largest market in 2017, boasting a market value of USD 159.4 million. Projections suggest a steady growth trajectory for South America, anticipated to demonstrate a CAGR of 2.02%.
The dominance of North America in the thyroid disorder market can be attributed to several factors, including heightened disease prevalence, substantial healthcare infrastructure, and advancements in treatment modalities. The region's proactive approach in disease awareness and access to healthcare services has contributed significantly to its prominent market position. Moreover, the continuous research and development efforts aimed at innovative therapeutic interventions have bolstered the market's growth prospects, setting North America on a path of sustained expansion within the thyroid disorder treatment landscape.