June 23, 2024
Thyroid Eye Disease Treatment Market

Thyroid Eye Disease Treatment Market is expected to be Flourished by Increasing Prevalence of Thyroid Disorders

The thyroid eye disease, also known as Graves’ ophthalmopathy, is an inflammatory, autoimmune disorder that causes swelling of tissues behind the eyes and double vision. It is associated with Graves’ disease and hyperthyroidism. The symptoms of thyroid eye disease include proptosis (bulging eyes), diplopia (double vision), dry eyes, and swelling of eyes. The existing treatment options include medications such as steroids and teprotumumab, radiation therapy, and surgery in severe cases. Teprotumumab, monoclonal antibody developed by Horizon Therapeutics, is the first FDA approved medication for thyroid eye disease. It is effective in reducing proptosis and diplopia. The rising prevalence of Graves’ disease and hyperthyroidism globally has fueled the demand for treatment of thyroid eye disease. According to a study published in March 2022, globally, hyperthyroidism affects 0.5-2% of the general population.

The global thyroid eye disease treatment Market is estimated to be valued at US$ 1.62 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Increasing prevalence of thyroid disorders as well as the availability of FDA approved medication such as teprotumumab are the major drivers of the thyroid eye disease treatment market. According to Mayo Foundation, more than 20 million Americans have some form of thyroid problems, and it is estimated that 20% of those people have eye changes related to thyroid eye disease. Teprotumumab was the first medication to be approved by FDA in 2020 for thyroid eye disease and has significantly improved the treatment options. It effectively reduces eye bulging and double vision in thyroid eye disease patients. However, high treatment cost remains a challenge. Teprotumumab therapy costs around $6,000 per infusion every 3 weeks for the initial 6 infusions followed by once every 6 months for maintenance doses. This makes the treatment unaffordable for many. Development of low-cost biosimilars can help expand the patient reach in future.

Segment Analysis

The global thyroid eye disease treatment market can be segmented based on treatment type, end user and distribution channel. By treatment type, the market is dominated by drug therapy sub segment which holds around 60% share. The dominance is attributed to lower costs and easy availability of drug therapies such as corticosteroids and immunosuppressants.

PEST Analysis

Political: The government policies and regulations provide direction to the market. Favorable regulations support the industry growth.

Economic: Rising disposable incomes drives the demand. The high treatment costs burdens the patients in developing nations.

Social: Increasing thyroid disorders prevalence and growing awareness boosts the market. The social stigma related prevents people from timely treatment.

Technological: Advancements in drug delivery systems and therapies expand the treatment options. The research aims at developing novel therapies.

Key Takeaways

The Global Thyroid Eye Disease Treatment Market Growth is expected to witness high at a CAGR of 24% during the forecast period of 2024 to 2031. The market size is projected to reach US$ 5.34 Bn by 2031 from US$ 1.62 Bn in 2024.

Regional analysis: North America holds the major share and is expected to remain dominant driven by increasing prevalence, awareness and availability of advanced therapies. Asia Pacific is expected to witness fastest growth supported by growing medical tourism and improving access to care.

Key players: Key players operating in the thyroid eye disease market are Sumitomo Electric Industries, Ltd, Lear Corporation, Leoni AG. Key players are focused on product launches, M&A and expansion strategies to strengthen their market presence. Innovation in treatment therapies is also a key focus area.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it