Global Graves’ Disease Market Research by Diagnosis (Ultrasound, Imaging tests, Radioactive iodine uptake, and Blood sample), by Treatment (Antithyroid medication, Radioactive iodine therapy, and Surgery), And Forecast 2022-2028
The global graves’ disease market is growing at a CAGR of 4.2% during the forecast period. The growing prevalence of auto-immune disorders such as thyroid disorder has created the demand for its treatment which in turn is driving the graves’ disease market. Advancement in treatment technology for effective treatment of graves’ disease is one of the prime factors to drive the market growth. Further, the existence of favorable reimbursement policies, funding in the development of novel therapies among others are also estimated to drive the growth of the market. Reimbursement policies and practices reflect the considerable impact on the expansion of healthcare facilities, diagnosis services, and R&D activities. Reimbursement policies control the work of the research and development companies without any budget concerns and with better decisions and strategies. R&D of any drug and supporting policies go hand in hand. Better reimbursement policies draw significant spending on healthcare, particularly in research and development. Reimbursements offered by many governments and private insurance companies for Grave’s disease diagnosis and treatment are furthermore augmenting the growth of Grave’s disease market.
The higher inclination of the population towards a sedentary lifestyle is a significant cause of diseases related to the thyroid including hyperthyroidism, hypothyroidism, autoimmune diseases, goiter, and others. The growing trend of smoking, drinking alcohol, and unhealthy eating activity in emerging and developing countries due to sedentary lifestyles has to lead to severe auto-immune disorders. The development of new technologies that have allowed ultrasound to become more widely adopted for soft tissue diagnosis across the globe is anticipated to offer lucrative opportunities for market growth during the forecast period. However, the high cost of treatment of Graves disorders and the unavailability of skilled medical professionals in developing and under-developed economies are certain factors that are hindering the growth of the market.
The market is segmented based on diagnosis and treatment. Based on the diagnosis, the market is segmented into ultrasound, imaging tests, radioactive iodine uptake, and blood sample. Ultrasound diagnosis method in Grave’s diseases market is growing at the highest CAGR during the forecast period attributed to the increasing advancement in ultrasound technology and significant contribution of major players such as Phillips, Toshiba, GE Healthcare, and Abbott providing ultrasound across the globe. Based on the treatment segment, the market is segmented into anti-thyroid medication, radioactive iodine therapy, and surgery.
Global Graves’ Disease Market Share Treatment, 2020 (%)
Global Graves’ Disease Market Share Treatment
Anti-Thyroid Medication Held Major Market Share in 2020
Based on the treatment segment, the anti-thyroid medication segment held a major market share in 2020. This is due to the fact that it is the most common treatment for Grave’s disease. Antithyroid medications include Propylthiouracil (PTU) and Methimazole (Tapazole). These drugs prevent the thyroid to produce excess amounts of the hormone. One of the advantages provided by the PTU is that it possesses a lower risk of birth defects; hence, it is the treatment that is firstly preferred by pregnant women. PTU drugs are used for those who cannot tolerate MMI, radioactive iodine therapy, or surgery. With the anti-thyroid medications, the coupling reaction of monoiodotyrosine and diiodotyrosine for producing T3 and T4 is blocked, and therefore, the synthesis of thyroid hormone is prevented.
Global graves’ disease market analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America held a major market share in the graves’ disease market in North America. The high prevalence of thyroid disorders, significant awareness about thyroid treatment and diagnosis, and availability of various treatment options due to advanced healthcare infrastructure are some of the key factors that are contributing to the high share of this regional market. Moreover, in Europe, the changing lifestyle and the growing prevalence of type-1 diabetes among others are some factors affecting the growth in the region. Asia-Pacific is estimated to be the remarkable growth during the forecast period 2022-2028.
Global Graves’ Disease Market, by Region 2022-2028
Global Graves’ Disease Market, by Region
Asia-Pacific Will Have Considerable Growth in the Global Graves’ Disease Market
Asia-Pacific region is expected to witness significant growth in the graves’ disease market. The rising prevalence of the autoimmune disorder, increasing awareness among people with regards to graves’ disease treatment are the key factors to drive the growth of the regional market. Further, development in treatment technologies, improving healthcare infrastructure, and increasing public health programs are some other factors to drive the growth of the market in the Asia-Pacific region. Moreover, the increasing prevalence of diabetes in the region, especially in China, is one of the other major factors augmenting the market growth in the region. Asia-Pacific comprises of large low- and middle-income population base, owing to which, the people generally adopt cost-effective treatment solutions such as anti-thyroid medications. Moreover, the rising healthcare spending in the emerging economies of the region is expected to provide the medical solution to the poor healthcare infrastructure of some underdeveloped countries in the region such as Indonesia.
Market Players Outlook
Key players of the graves’ disease market include Rodos Biotarget GmbH, Sanofi Genzyme, Macleods Pharmaceuticals Ltd., Apitope International N.V., RLC Labs Inc. Takeda Pharmaceutical Co., Ltd., and Omeros Corp. To remain competitive in the market, these players adopt different marketing strategies such as product launches, mergers & acquisitions, and partnerships among others.
In July 2018, the German Federal Institute for Drugs and Medical Devices has given acceptance in 21 countries of the EU for a new formulation by Merck KGaA named Euthyrox (levothyroxine). Euthyrox is expected to have better control over individual levothyroxine dosage as the active ingredient is in the new formulation of Euthyrox enables patients.
In April 2018, Apitope Technology (Bristol) Ltd. announced the positive results of the phase I clinical trial of its product candidate ATX-GD-59 that is used for the treatment of Grave’s disease. This would allow the company to expand its market in Grave’s disease treatment. This strategy would help gain a significant market share in the future by having a ‘first-mover advantage’ unless a rival company launches a similar product.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global graves disease market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
Table of Contents
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
5.1.2. Imaging Tests
5.1.3. Radioactive Iodine Uptake
5.1.4. Blood Sample
5.2. Global Graves’ Disease Market by Treatment
5.2.1. Anti- Thyroid Medication
5.2.2. Radioactive Iodine Therapy
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7.2. Abbott Laboratories
7.3. Acella Pharmaceuticals, LLC
7.4. Allergan PLC
7.5. ApitopeInternational N.V.
7.6. AstraZeneca PLC
7.7. Bayer AG
7.8. Biomérieux S.A.
7.9. East West Pharma
7.10. EpiVax, Inc.
7.11. F.Hoffman-La-Roche AG
7.12. GlaxoSmithKline plc.
7.13. Lupin, Ltd.
7.14. Macleods Pharmaceuticals Ltd.
7.15. Merck KGaA
7.16. Mylan N.V.
7.17. Novartis International AG
7.18. Pfizer Inc.
7.19. RLC Labs
7.20. Sanofi S.A.
7.21. Takeda Pharmaceutical Co.Ltd.
7.22. Torrent Pharmaceuticals, Ltd.
A selection of companies mentioned in this report includes:
- AbbVie Inc.
- Abbott Laboratories
- Acella Pharmaceuticals, LLC
- Allergan PLC
- ApitopeInternational N.V.
- AstraZeneca PLC
- Bayer AG
- Biomérieux S.A.
- East West Pharma
- EpiVax, Inc.
- F.Hoffman-La-Roche AG
- GlaxoSmithKline plc.
- Lupin, Ltd.
- Macleods Pharmaceuticals Ltd.
- Merck KGaA
- Mylan N.V.
- Novartis International AG
- Pfizer Inc.
- RLC Labs
- Sanofi S.A.
- Takeda Pharmaceutical Co.Ltd.
- Torrent Pharmaceuticals, Ltd.