by The Graves’ disease overactive thyroid market provides treatment for patients suffering from hyperthyroidism caused by Graves’ disease. Graves’ disease is an autoimmune disorder where the thyroid gland becomes overactive and enlarges, producing too much thyroid hormone. The major treatment options available are anti-thyroid medications, radioactive iodine therapy, and thyroid surgery.
The global Graves’ disease overactive thyroid market is estimated to be valued at US$ 570.2 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period from 2024 to 2031.
Increasing prevalence of hyperthyroidism, growing awareness about diagnosis and treatment of thyroid disorders, and availability of various treatment options are some of the key factors driving the market.
Key Takeaways
Key players operating in the Graves’ disease overactive thyroid market are AbbVie Inc., Pfizer Inc., Merck KGaA, Eisai Co., Ltd., Novartis AG, Mylan N.V., Aspen Pharmacare Holdings Ltd, Sanofi, GlaxoSmithKline plc, AstraZeneca, Horizon Therapeutics plc, Antares Pharma, Inc., IONIS Pharmaceuticals, Inc., Immunovant, Inc., HanAll Biopharma Co., Ltd.
The Graves Disease Overactive Thyroid Market Size prevalence of hyperthyroidism globally is expected to boost the demand for Graves’ disease treatment drugs and therapies. According to the American Thyroid Association, about 1 in every 200 people suffers from hyperthyroidism caused by Graves’ disease in the United States.
Major players are focusing on expansions and collaborations to strengthen their presence across different geographies. For instance, in 2021, AbbVie Inc. acquired Allergan Plc to expand its global commercial and medical aesthetics business. Similarly, Mylan N.V. is expanding manufacturing sites across various countries to meet the global demand for generic and specialty drugs.
Market Key Trends
Research on novel therapeutic development is a key trend in the Graves’ disease overactive thyroid market size and trends. Several pharmaceutical companies are conducting clinical trials to evaluate novel biologics and small molecule drugs for treatment-resistant cases. For example, Horizon Therapeutics is evaluating teprotumumab, a fully human monoclonal antibody, in phase 3 confirmatory trials for treatment of Graves’ orbitopathy which is an eye condition associated with Graves’ disease. If approved, teprotumumab will offer a new mechanism of action for patients not responding to standard therapies. Overall, increasing R&D investments are expected to result in approvals of new drugs, supporting market growth.
Porter’s Analysis
Threat of new entrants: Low as it requires high investment in research and regulatory approvals.
Bargaining power of buyers: Moderate as there are many established brands but limited therapeutic alternatives.
Bargaining power of suppliers: Low due to availability of substitutes and focus of manufacturers on developing innovative products.
Threat of new substitutes: High as newer drug delivery methods and targeted therapies are emerging.
Competitive rivalry: Fierce due to presence of many global and regional players focusing on product differentiation through branding and promotions.
Geographical regions:
North America region currently holds the major share in Graves Disease Overactive Thyroid market in terms of value due to favorable reimbursement policies, increasing prevalence of hyperthyroidism and high awareness about the disease. Europe holds the second largest share.
Asia Pacific region reflects the fastest growth during the forecast period majorly driven by improving healthcare infrastructure, increasing government initiatives to curb thyroid disorders, large patient pool and rapid adaptation of advanced diagnostic and treatment options. Increasing middle class population with access to insurance and programs like ‘Ayushman Bharat’ in India is further fueling the market growth in the region.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
