Graves' Disease Market to Grow Due to Rising Thyroid Disorder Prevalence

Graves' Disease Market
Graves' Disease Market

The Graves’ disease overactive thyroid market is a segment of the broader thyroid disorder therapeutics industry. Graves' disease, also known as toxic diffuse goiter or toxic adenomatous goiter, is an autoimmune disease that leads to the overproduction of thyroid hormones in the body. Uncontrolled thyroid hormones can have several adverse effects on the whole body like weight loss, cardiac issues, tremors, anxiety and many others. As per estimates, Graves' disease affects around 0.5% of the total population. With growing awareness about early diagnosis and treatment of thyroid issues coupled with the rising burden of thyroid disorders globally, the demand for Graves' disease therapeutics is expected to increase substantially over the coming years.

The Global Graves' disease overactive thyroid market is estimated to be valued at US$ 570.2 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Graves' disease overactive thyroid market are AbbVie Inc., Pfizer Inc., RLC LABS, Inc., Merck KGaA, Eisai Co., Ltd., Novartis AG, Mylan N.V., Aspen Pharmacare Holdings Ltd, Sanofi, GlaxoSmithKline plc, AstraZeneca, Horizon Therapeutics plc, Alara Pharmaceutical Corporation, Antares Pharma, Inc., Apitope Technology (Bristol) Ltd., IONIS Pharmaceuticals, Inc., Immunovant, Inc., HanAll Biopharma Co., Ltd., Cara Therapeutics.

The Graves Disease Overactive Thyroid Market Size offers new growth opportunities with the availability of newer treatment options and pipeline products in development. Emerging technologies like cell-based therapies and gene editing are also spurring innovation in Graves' disease treatment landscape.

Major players in the Graves' disease overactive thyroid market are focusing on geographical expansion and global facility upgrades to strengthen their market position. Strategic partnerships and M&A activities are helping companies augment product portfolios and improve global commercial footprints.

Market Restraints

High cost of newer targeted drugs remains a major challenge restricting broader patient access and uptake. Thyroid surgeries also carry risks of recurrent laryngeal nerve injuries and hypoparathyroidism. Social stigma associated with thyroid disorders in some cultures acts as a behavioral barrier to timely medical intervention and management. Strict regulatory approval processes further delay market entry of novel treatment concepts and modalities.

Market Drivers

One of the key drivers for the Graves' disease overactive thyroid market size and trends is the increasing prevalence of thyroid disorders across both developed and developing regions. Factors like genetic predisposition, changing lifestyle patterns, growing environmental pollution are contributing to the rising disease incidence. Advances in diagnostic techniques are also enabling early detection of Graves' disease, driving the adoption of therapeutic drugs and solutions.

Segment Analysis

The Graves disease overactive thyroid market can be segmented based on treatment type, route of administration, distribution channel and geography. Based on treatment type, the market is divided into radioactive iodine therapy, antithyroid drugs, and surgery. The antithyroid drugs segment currently dominates the market owing to easy availability and less invasive nature of drugs such as propylthiouracil, methimazole, and beta blockers. These oral medications are prescribed long term to inhibit thyroid hormone production.

Global Analysis

Regionally, North America is expected to hold the largest share in the Graves disease overactive thyroid market during the forecast period. Factors such as rising incidence of thyroid disorders, presence of key players, developed healthcare infrastructure and high healthcare expenditure in the US and Canada are anticipated to drive market growth in North America. On the other hand, Asia Pacific region is projected to witness the highest growth rate due to increasing patient awareness about Graves disease treatment, growing geriatric population, and improving healthcare facilities across developing economies like India and China.

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About Author:

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, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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