Levothyroxine sodium is a tablet used in the treatment of hypothyroidism. Hypothyroidism is the improper condition of the thyroid gland where it does not create and release sufficient thyroid hormone into the human bloodstream resulting in slackening in our metabolism. These hormones affect nearly every organ and control many of your body's most important functions. The deficiency of thyroid hormones may affect our breathing, heart rate, weight, digestion, and moods.
Levothyroxine sodium either boosts or substitutes for the thyroid hormone produced by the thyroid gland. To maintain an appropriate level of mental and physical activity, thyroid hormone must be present in sufficient amounts. Children's proper physical and mental development requires thyroid hormone. Other thyroid conditions are also treated with levothyroxine sodium (such as certain types of goiters, and thyroid cancer).
According to Business Research Insights, In 2020, the levothyroxine sodium market size was valued at USD 3.51 billion. The market is anticipated to reach USD 4.25 billion by 2027, with a CAGR of 2.8% over that duration.
Halted supply-chain disrupted affected the market growth during COVID-19
COVID-19 has been severely hard for patient’s thyroid or hyperthyroid disorder as the chances of viral infections were higher for these patients. As a result, the public in general became more concerned for their health in relation to thyroid levels to mitigate the situation of hypothyroidism. The possibility that thyroid dysfunction may also increase susceptibility for COVID-19 increased the demand for Levothyroxine Sodium. The Levothyroxine Sodium market growth was slightly hindered by the disruption in the transportation vis-à-vis supply chain but has bounced back after the lockdown restrictions were lifted. The was little to no effect of COVID-19 on production and the Levothyroxine Sodium market size grew as a result of the increased demand.
Business Research Insights Reports Top 5 Levothyroxine Sodium Manufacturers
1. Abbvie (U.S.)
AbbVie Inc. (AbbVie) finds, identifies, produces, and sells medicines to treat chronic and serious disorders. Its medications are recommended for treatment of serious illnesses such as gastrointestinal disorders, rheumatological diseases, neurological disorders, viral diseases, skin diseases, complications of cystic fibrosis, endometriosis pain, metabolic diseases, rheumatological diseases, cancers of different types, and other life - threatening illnesses.
2. Mylan Pharma (U.S.)
Mylan, Inc., a generic and specialty pharmaceuticals corporation, develops, produces, sells, and distributes medications. The company divides its market into two categories: generics and specialty. Generic or generic pharmaceutical goods in pills, capsule, injectable, or transdermal patch form, in addition to API, are developed, manufactured, sold, and distributed predominantly by the Generics industry. The development, production, and distribution of branded specialised nebulized and injectable products are the primary activities of the specialty category.
3. Merck (U.S.)
Merck is a global pharmaceutical company with a commitment to finding treatments for the most severe chronic health issues, that offers cutting-edge customized solutions through its prescription medications, vaccines, biologic therapies, and animal health products. It has a number of top-selling medicines or goods, each with a $1 billion annual revenue, such as cancer immunotherapy, diabetes treatment, and vaccines for HPV as well as chickenpox.
4. Pfizer (U.S.)
Charles Pfizer and Charles F. Erhart established Pfizer Inc. (Pfizer) in 1849 with the goal of discovering, developing, producing, and marketing biopharmaceuticals. The company produces products to treat a variety of illnesses, including cancer, inflammation, immune disorders, chronic conditions, and conditions related to the heart, metabolism, and pain. Additionally, it offers contract manufacturing services, sterile injectable drugs, biosimilars, active pharmaceutical ingredients (APIs), and pharmaceutical drugs.
5. Lannett Company (U.S.)
Lannett Company, Inc. was established in 1942 and is a major producer of several distinct biopharmaceutical classes. Pharmaceutical brand-name generic copies are created, produced, packaged, sold, and distributed by Lannett Company, Inc. It develops and sells inexpensive, high-quality generic drugs that are functionally equivalent to name-brand pharmaceuticals. Its product portfolio comprises a large number of items in a diverse range of therapeutic areas.
Regulated use to counteract the side effects of levothyroxine sodium drug
hypothyroidism can have severe consequences on our health, resulting in numerous diseases which if left unchecked can cause grave injury to our health. Usually, hypothyroidism is treated by replacing the amount of hormone that our thyroid is no longer making. This is typically done with medication that is commonly known as Levothyroxine Sodium. Taken most of the time orally, this medication balances the amount of thyroid hormone our body produces, evening out our levels. Hypothyroidism is a manageable disease. However, we will need to continuously take medication to normalize the number of hormones in our bodies for the rest of our life. With careful management, and follow-up appointments with your healthcare provider to make sure our treatment is working properly, we can lead a normal and healthy life.