New York, United States , July 05, 2024 (GLOBE NEWSWIRE) -- The Graves’ Disease (Overactive Thyroid) Market Size is to Grow from USD 390.8 Million in 2023 to USD 614.6 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.63% during the projected period.
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Basedow's disease, also known as hyperactive thyroid disease or graves' disease, is an autoimmune condition that results in hyperthyroidism. It occurs when the immune system targets the thyroid, causing an excess of thyroid hormones to be produced. Graves' disease treatment aims to stop the body's production of thyroid hormones and all of its associated effects. Beta-blockers such as propranolol and metoprolol are frequently used as first-line treatments. One of the most frequent causes of elevated thyroid hormone in the bloodstream is the autoimmune disease graves' disease, which leads to hyperthyroidism. It is expected that the overactive thyroid disorder, also known as graves' disease, will become more commonplace globally, propelling market expansion. Among the many detrimental implications of hyperthyroidism are heart problems. The disorder is known to cause congestive heart failure, where the heart is unable to pump enough blood to fulfill the body's needs. Other symptoms include an accelerated heart rate and atrial fibrillation, a heart rhythm irregularity that raises the risk of stroke. However, the high cost of the treatment will limit the rate of growth in the market. The absence of adequate healthcare infrastructure in developing nations and the scarcity of skilled specialists will cause problems for the overactive thyroid such as graves' disease sector.
Browse key industry insights spread across 190 pages with 115 Market data tables and figures & charts from the report on the "Global Graves’ Disease (Overactive Thyroid) Market Size, Share, and COVID-19 Impact Analysis, By Treatment (Anti-Thyroid Drugs, Beta Blockers, Iodine Therapy, Radioactive Iodine Therapy, Others), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The anti-thyroid drugs segment is anticipated to hold the greatest share of the global graves’ disease (overactive thyroid) market during the projected timeframe.
On the basis of treatment, the global graves’ disease (overactive thyroid) market is divided into anti-thyroid drugs, beta-blockers, iodine therapy, radioactive iodine therapy, and others. Among these, the anti-thyroid drugs segment is anticipated to hold the greatest share of the global graves’ disease (overactive thyroid) market during the projected timeframe. The first line of treatment for graves' disease is usually anti-thyroid drugs because they are easy to take and don't require hospital stays. They work by reducing the activity of the overactive thyroid gland and preventing the creation of thyroid hormones.
The oral segment is anticipated to grow at the fastest pace in the global graves’ disease (overactive thyroid) market during the projected timeframe.
On the basis of the route of administration, the global graves’ disease (overactive thyroid) market is divided into oral, parenteral, and others. Among these, the oral segment is anticipated to grow at the fastest pace in the global graves’ disease (overactive thyroid) market during the projected timeframe. The oral route is a non-invasive, painless procedure. Physicians are not required when take drugs orally, which mainly comprises antithyroid tablets. Oral drugs also have a lengthy shelf life and don't require special storage conditions.
The hospital pharmacies segment is predicted to grow at the highest pace in the graves’ disease (overactive thyroid) market during the estimated period.
On the basis of distribution, the global graves’ disease (overactive thyroid) market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment is predicted to grow at the highest pace in the graves’ disease (overactive thyroid) market during the estimated period. This segment has become the main distribution channel because of the high rate of hospital visits for individuals with Graves' disease, especially in the early phases of diagnosis and treatment when surgery or radioactive iodine therapy may be required.
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North America is expected to hold the largest share of the global graves’ disease (overactive thyroid) market over the forecast period.
North America is expected to hold the largest share of the global graves’ disease (Overactive Thyroid) market over the forecast period. Several large pharmaceutical companies in the region are primarily focused on creating novel treatments for Graves' disease. The increased prevalence of thyroid issues and rising healthcare expenses in the US and Canada have created a huge need for graves’ disease medications. The region has a robust regulatory framework and a favorable reimbursement climate that help to expedite the clearance of novel products.
Asia Pacific is predicted to grow at the fastest pace in the global graves’ disease (overactive thyroid) market during the projected timeframe. Growing healthcare knowledge and greater access to healthcare services, especially in developing countries like China and India, may present opportunities for market participants. The shifting lifestyles and genetic predispositions in these countries have resulted in a significant patient population with thyroid problems.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global graves’ disease (overactive thyroid) market include Allergan, AstraZeneca, Sling Therapeutics, Inc, Johnson & Johnson Private Limited, Hikma Pharmaceuticals PLC, Merck KGaA, Novartis AG, Mindray, HanAll Biopharma Co., Ltd., Mylan N.V., Aspen Pharmacare Holdings Ltd, GlaxoSmithKline plc, Horizon Therapeutics plc, Alara Pharmaceutical Corporation, and Others.
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Recent Developments
- In June 2022, The biopharmaceutical startup Sling Therapeutics, Inc. raised USD 35 million in its Series A fundraising round, which was spearheaded by TPG's The Rise Fund. The company's experimental drug, sunitinib, will be assessed in a Phase 2b clinical trial to treat thyroid eye disease (TED) with the help of this funding. The majority of TED cases are documented in females, and the condition is typically linked to hyperthyroidism brought on by Graves' sickness.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global graves’ disease (overactive thyroid) market based on the below-mentioned segments:
Global Graves’ Disease (Overactive Thyroid) Market, By Treatment
- Anti-thyroid Drugs
- Beta Blockers
- Iodine Therapy
- Radioactive Iodine Therapy
- Others
Global Graves’ Disease (Overactive Thyroid) Market, By Route Of Administration
- Oral
- Parenteral
- Others
Global Graves’ Disease (Overactive Thyroid) Market, By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Graves’ Disease (Overactive Thyroid) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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