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Thyroid Eye Disease Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5764138
According to the NCBI, thyroid eye disease is a complex inflammatory disorder of the eye orbit, which includes the orbital fibroblasts, adipocytes, extra-ocular muscles, optic nerve, and orbital vasculature. Systemic thyroid status can unpredictably affect the course of thyroid eye disease. The thyroid eye disease treatment market is expected to register a CAGR of 8.2% over the forecast period.

The COVID-19 pandemic negatively impacted the studied market due to delayed treatment and lack of diagnosis. According to the NCBI data published in February 2022, there is a possible risk of reactivation of autoimmune disease after COVID-19 vaccination. Certain autoimmune disorders, such as myasthenia gravis, new-onset of Graves disease, and subacute thyroiditis, were also developed among individuals who took COVID-19 vaccinations. Thus, there was a slight increase in the number of thyroid eye diseases during COVID-19, demanding treatment. Post-pandemic, the market has regained its importance.

The rising incidence of thyroid disease and increasing treatment options are among the significant factors driving the market's growth. Data published by NCBI in May 2021 states that the prevalence of TED is 40% in patients with Graves disease. Around 70% of the patients with Graves hyperthyroidism have subclinical extra-ocular muscle enlargement annually. This elevates the need for thyroid eye disease treatment, thereby contributing to market growth.

Similarly, the data updated by the American Academy of Ophthalmology in March 2020 stated that thyroid eye disease is most frequently associated with hyperthyroidism (consisting of 90% of cases). This factor points toward escalating demand for various treatment options to treat TED, as it can lead to visual disfigurement and disability and, in some cases, can cause permanent visual loss.

Moreover, according to a study by Biomed Central Ltd, published in September 2020, the global prevalence of patients with thyroid eye disease was around 10.36% for hypothyroidism, 7.9% for euthyroidism, and 86.2% for hyperthyroidism. Therefore, the increasing prevalence of thyroid eye disease among individuals is elevating the growth of the market globally and is expected to increase in the future, thereby driving the development of the studied market over the forecast period.

Owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, low awareness and underdiagnosis of thyroid disorders will likely impede the market growth.

Thyroid Eye Disease Treatment Market Trends

Monoclonal Antibody Segment Expected to Witness Growth over the Forecast Period

The monoclonal antibodies (mAbs), cloned from antibodies produced in the body, are used to treat many fatal diseases. The main advantage of using monoclonal antibodies in treating these diseases is that they are taken from a biological source and can produce antibodies in the long term. Monoclonal antibodies are types of proteins that are made in labs. They can bind to a specific target in the body, such as antigens and the surface of cells.

mAbs assist in fighting against various infections and are given to the patients directly as infusions. For instance, Tocilizumab, an FDA-approved monoclonal antibody, works by blocking the antibodies from attacking the orbit and is increasingly used to treat thyroid eye disease. Hence, due to the beneficial treatment options provided by the drug, it is becoming more popular among patients suffering from thyroid eye disease, ultimately driving market growth.

Furthermore, in May 2021, the NCBI stated that monoclonal antibodies, such as Tocilizumab, work against the interleukin 6 receptor. Tocilizumab blocks the antibodies from attacking the fibroblasts, prevents muscle and sat tissue remodeling, and halts hyaluronan buildup in orbit. Tocilizumab improved 93% of the patients at 16 weeks, with minimal proptosis. Hence, the monoclonal antibody segment is going to keep growing.

Therefore, the monoclonal antibody segment is expected to witness significant growth over the forecast period.

North America Expected to Dominate the Market

Owing to significant factors, such as the increasing prevalence of various thyroid diseases in the United States and advancement toward new treatment options, North America is expected to dominate the market.

According to the American Academy of Ophthalmology data published in July 2022, around 19 in 100,000 people suffer from thyroid eye disease in the United States. Thus, the prevalence of thyroid eye disease in the United States will promote the growth of the market studied in the region.

Key product launches, the high concentration of market players, and the manufacturers' presence in the United States are some factors driving the growth of the ortho-pediatric devices market. For instance, in January 2020, Horizon Therapeutics PLC announced the approval of TEPEZZA for treating thyroid eye disease by the Food and Drug Administration. Such continuous regional collaborations are anticipated to drive market growth in the country.

Therefore, owing to the aforementioned factors, the market's growth is anticipated in North America.

Thyroid Eye Disease Treatment Market Competitor Analysis

The thyroid eye disease treatment market is consolidated in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known, including Horizon Therapeutics PLC, Pfizer Inc., Novartis AG, Johnson & Johnson Services, Inc. (Johnson & Johnson Vision Care, Inc.), and AbbVie Inc., among others.

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Table of Contents

1.1 Study Assumptions & Market Definition
1.2 Scope Of The Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Thyroid Disease
4.2.2 Increasing Treatment Options for TED
4.3 Market Restraints
4.3.1 Low Awareness and Under-diagnosis of Thyroid Disorders
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Treatment Type
5.1.1 Monoclonal Antibody
5.1.2 Steroids
5.1.3 Artificial Tear Drops
5.1.4 Other Treatment Types
5.2 By Distribution Channel
5.2.1 Retail Pharmacy
5.2.2 Hospital Pharmacy
5.2.3 E-commerce
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Middle East and Africa
5.3.5 South America
6.1 Company Profiles
6.1.1 Horizon Therapeutics PLC
6.1.2 Pfizer Inc.
6.1.3 Novartis AG
6.1.4 Johnson & Johnson Services, Inc. (Johnson & Johnson Vision Care, Inc.)
6.1.5 AbbVie Inc.
6.1.6 Cipla Inc.
6.1.7 Bausch & Lomb Incorporated
6.1.8 Sun Pharmaceutical Industries, Inc.
6.1.9 Eyevance Pharmaceuticals LLC
6.1.10 Alcon Inc.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Horizon Therapeutics PLC
  • Pfizer Inc.
  • Novartis AG
  • Johnson & Johnson Services, Inc. (Johnson & Johnson Vision Care, Inc.)
  • AbbVie Inc.
  • Cipla Inc.
  • Bausch & Lomb Incorporated
  • Sun Pharmaceutical Industries, Inc.
  • Eyevance Pharmaceuticals LLC
  • Alcon Inc.