Myxedema Coma Market Share, Growth Statistics

Global Myxedema Coma Market: Growth Drivers and Challenges

Growth Drivers

Growing Geriatric Population - According to the World Health Organization, one in six persons on the planet would be 60 years of age or older by the year 2030. At this point, there would be 1.4 billion people, up from 1 billion in 2020, who are 60 years of age or older. Age-related increases in thyroid dysfunction are associated with an increased risk of hypothyroidism and myxedema coma. The aged may also be more susceptible to hypothyroidism's side effects, which could lead to more severe symptoms and consequences. Thus, as the world's population ages, there may be a greater demand for screening and early thyroid dysfunction identification in the senior population.
Rise in Healthcare Expenditure -In 2021, the United States spent about 3% more on health care, amounting to approximately USD 3 trillion or about USD 12,913 per person.
Surge in Prevalence of Diabetes 1 -Globally, there were approximately 7 million people with type 1 diabetes in 2021, of whom about 2 million (approximately 17%) were under the age of 20, about 4 million (approximately 63%) were between the ages of 20 and 59, and about 2 million (approximately 18%) were 60 years or older. Type 1 diabetes could be linked to other autoimmune diseases including Hashimoto's thyroiditis, a major cause of hypothyroidism. Hence, it is expected to boost the growth of the market in the upcoming years.
Growth in Prevalence of Pneumonia -The number of hospitalized pneumonia cases among adults under the age of 18 increased from 13.49 in 2015 to 17.65 in 2018. Myxedema coma might have pneumonia as a cause or consequence, and it is projected to expand the growth of the market.
Upsurge in Untreated Injury -An important public health issue is injury. Over 3 million non-fatal injuries and over 149,999 fatal injuries occur each year in the United States as a result of injury. However, when these injuries remain untreated they may lead to myxedema coma. Hence, this factor is estimated to boost the demand for treatment for myxedema coma market.

Challenges

Limited Awareness Among People
Lack of Specific Treatment
High Cost of Treatment - Owing to the frequent need for hospitalization and extensive care, myxedema coma therapy could be costly. The expense of hospitalization could be significant since myxedema coma is often treated in a medical facility. This may cover the price of hospital lodging, medical personnel, and medical equipment. Moreover, to help with the diagnosis and ongoing monitoring of the illness, diagnostic testing such blood tests and imaging examinations may be required. These tests could potentially be expensive. Additionally, thyroid hormone replacement medication and supportive care, such as fluids and electrolytes, are frequently used to treat myxedema coma. These medicines could be costly as well, especially if they have to be given intravenously. Further, patients may need continuous care and monitoring after treatment for myxedema coma to manage any complications or long-term repercussions of the disorder. The total cost of treatment may increase as a result of this.

Global Myxedema Coma Market Segmentation

The global myxedema coma market is segmented and analyzed for demand and supply by route of administration into oral and injectable. Out of which, the oral segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to growing people preference for oral therapy. Compared to intravenous treatments, oral drugs carry a lesser risk of problems including infection or vein damage. A post-injection flare is thought to occur in about 2 in 50 persons few hours after receiving an injection. Hence, the preference for oral therapy is growing. Moreover, patients find taking oral drugs more convenient since they don't require an IV line and could do it at home or in a hospital setting. Also, since oral drugs are typically less expensive than intravenous ones, patients could acquire them more easily. Additionally, in contrast to intravenous drugs, oral pharmaceuticals are absorbed through the gastrointestinal tract, which may result in a slower and sustained release of the drug. Moreover, oral medicines for myxedema coma are readily accessible and could be prescribed by a healthcare professional for people who fit the treatment criteria.

The global myxedema coma market is also segmented and analyzed for demand and supply by distribution channel into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies. Amongst which, the hospital pharmacies segment is estimated to have the significant growth over the forecast period. Myxedema coma is a serious medical condition that frequently necessitates immediate hospitalization and specialized treatment. Thyroid hormone replacement therapy, which is the drug used to treat myxedema coma, is commonly accessible in hospital pharmacies where patients receive treatment for this potentially fatal illness. Moreover, levothyroxine (T4) and liothyronine (T3) hormones, along with other medications used to treat myxedema coma, are often taken with the assistance of a medical practitioner. The effectiveness of the patient's treatment must be closely monitored, and the dosage of the medicine should be changed as necessary. Hence, the demand for the segment is growing.

Our in-depth analysis of the global myxedema coma market includes the following segments:

By Route of Administration	Oral Injectable
By Indication	Hypothyroidism Hypocortisolemia Hyponatremia Hypoventilation Hypothermia Hypoglycemia Hypotension
By Distribution Channel	Hospital Pharmacies Retail Pharmacies Drug Stores Online Pharmacies
By Drug Class	Synthetic Natural

Global Myxedema Coma Market Regional Synopsis

The market share of myxedema coma in North America, amongst the market in all the other regions, is projected to have the highest growth by the end of 2035, backed by growing geriatric population, along with rising healthcare expenditure. The percentage of older Americans would rise from 15% to 21% by 2030, when all baby boomers would be above the age of 65. Nearly one in four Americans would be 65 or older by 2060, tripling the number of those who are 85 or older, and a half million more would be centenarians. Additionally, more myxedema coma instances could be identified and diagnosed as a result of improved diagnostic methods and increasing awareness of the condition's symptoms. Moreover, the development of hypothyroidism, which could result in myxedema coma, is significantly influenced by obesity. The rising incidence of myxedema coma in the continent of North America may be caused by the high prevalence of obesity in the continent.

The European myxedema coma market is estimated to be the second largest, to have the highest growth over the forecast period. Thyroid hormone replacement therapy is the major treatment for hypothyroidism, which is the most typical cause of myxedema coma. In order to restore hormone production, it is necessary to take synthetic thyroid hormones. Thyroid hormone replacement therapy is becoming more and more popular in Europe as the prevalence of hypothyroidism rises. Moreover, the diagnostic methods for hypothyroidism and its side effects, such as myxedema coma, have made great strides. These consist of imaging tests to assess the thyroid gland as well as blood tests to gauge thyroid hormone levels. The need for myxedema coma treatment in Europe has increased as a result of improved diagnostic methods. Additionally, respiratory support, intravenous fluids, and electrolyte replacement are all necessary for patients with myxedema coma. In Europe, as the prevalence of the disorder rises, so does the demand for supportive treatment for people with myxedema coma.

Additionally, the market in Asia Pacific region is also estimated to have the significant growth over the forecast period. One of the most frequent causes of hypothyroidism in the globe is iodine deficiency. Iodine deficiency is highly prevalent in a number of nations in the Asia Pacific region, especially in South and Southeast Asia. Iodine supplementation plans and thyroid hormone replacement therapy are now more popular in the region as a result of this. Additionally, in the Asia Pacific region, rapid economic development and urbanization have prompted considerable changes in food and physical activity habits. Increased rates of obesity and metabolic diseases, which are risk factors for hypothyroidism, have been linked to these changes. The need for screening and treatment for hypothyroidism in the region has increased as a result of the rising incidence of these risk factors.

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Top Featured Companies Dominating the Global Myxedema Coma Market

AbbVie Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Merck & Co., Inc.
Pfizer Inc.
GSK plc.
Sanofi Global
Mylan N.V.
Teva Pharmaceutical Industries Ltd.
Novartis AG
Lannett Company, Inc.
Advanz Pharma

In The News

Pfizer Inc. and Valneva SE announce that Pfizer, as the study's sponsor, has chosen to terminate several of the Americans who had been enrolled in the Phase 3 clinical research Vaccine Against Lyme for Outdoor Recreationists (VALOUR) (NCT05477524). The study examines VLA15, a potential Lyme disease vaccine candidate, for its efficacy, safety, and immunogenicity.
ADVANZ PHARMA and Kyowa Kirin Co., Ltd. have reached an agreement for ADVANZ PHARMA Corp. Limited to purchase the worldwide rights to Tostran. ADVANZ PHARMA Corp. Limited is a global pharmaceutical firm with its headquarters in the UK and a strategic focus on speciality, hospital, and rare illness medicines in Europe. The deal is anticipated to be completed within the second quarter of 2023.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the myxedema coma market?

Ans: The major factors driving the growth of the market are growing geriatric population, rise in healthcare expenditure, surge in prevalence of diabetes 1, and others.

2) What would be the CAGR of myxedema coma market over the forecast period?

Ans: The market size of myxedema coma is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the myxedema coma market growth?

Ans: Limited awareness among people, lack of specific treatment, high cost of treatment are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of myxedema coma market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the myxedema coma market?

Ans: The major players in the market are AbbVie Inc., Merck & Co., Inc., Pfizer Inc., GSK plc., and more.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the myxedema coma market?

Ans: The market is segmented by route of administration, indication, distribution channel, drug class, and by region.

8) Which segment captures the largest market size in the route of administration segment in the myxedema coma market?

Ans: The oral segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~4%
Base Year Market Size (2022)	~ USD 2 Billion
Forecast Year Market Size (2035)	~ USD 5 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Myxedema Coma Market Size, Forecast, and Trend Highlights Over 2023 – 2035

Global Myxedema Coma Market: Key Insights