The global iodine deficiency drug industry was pegged at $3.7B in 2021, and is expected to reach $6.5B by 2031, growing at a CAGR of 5.8% from 2022 to 2031, according to a report from Allied Market Research.
Rise in prevalence of hypothyroidism in geriatric populations, surge in hypothyroidism in children, and education on iodine deficiency disorders have boosted the growth of the global iodine deficiency drug market. However, side effects associated with levothyroxine drug hinder the market growth. On the other hand, rise in investments of pharmaceutical players in developing countries would open new opportunities.
By dosage form, the tables segment would showcase the highest CAGR of 5.9% from 2021 to 2030. Moreover, the segment held the largest share in 2021, contributing to nearly four-fifths of the global iodine deficiency drug market, due to increase in adoption of tablet dosage forms for iodine deficiency treatment. In addition, increase in demand for levothyroxine tablets across developing countries leads to treating iodine deficiency disorders, further boosting the segment growth.