by The Graves disease overactive thyroid market involves targeted drug therapies that help regulate the overproduction of thyroid hormones. Graves’ disease, also known as hyperthyroidism, is an autoimmune disorder where the thyroid gland produces excessive amounts of thyroid hormones that accelerate metabolism. Some key drugs to treat Graves’ disease include antithyroid medications, beta blockers, and surgery in severe cases. The treatment aims to prevent complications caused by an overactive thyroid like irregular heartbeat, osteoporosis, muscle weakness, and eye disease.
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 market offers opportunities for targeted therapies that can provide longer remission and fewer side effects than antithyroid drugs alone. Advancements in recombinant humanized monoclonal antibodies and RNA inhibition therapeutics allow for more selective regulation of the immune system and thyroid function in Graves Disease Overactive Thyroid Market Size
Graves’ Disease Overactive Thyroid Market Challenges:
The major challenges faced by the Graves’ disease overactive thyroid market are lack of disease awareness, limited treatment options, high costs associated with therapies, risk of surgery and lifelong medication requirements. Many people in developing nations do not have access to proper healthcare facilities which results in late diagnosis and treatment of the condition.
Market drivers
The key driver boosting the Graves’ disease overactive thyroid market size and trends is the rising awareness about the early diagnosis and treatment of hyperthyroidism. As more patients are being diagnosed, the demand for drugs to regulate excessive thyroid hormone levels is increasing. Another major factor is the advancements in targeted drug therapies that can provide better disease control with minimal side effects compared to older treatment options. This makes adherence and compliance higher among patients diagnosed with Graves’ disease and overactive thyroid. Development of biosimilar and novel treatment options also supplements the overall market growth.
SWOT Analysis
Strength: Rapidly growing patient population globally due to rising thyroid disorders. Introduction of novel drugs with improved efficacy and safety.
Weakness: Lack of approved therapeutics specifically for Graves’ disease treatment. Risk of drug interactions and side effects with long term medication use.
Opportunity: Developing blockbuster drugs with novel mechanisms of action. Expanding healthcare infrastructure and insurance coverage in developing regions.
Threats: Patent expiries of blockbuster drugs resulting in lower prices. Stringent regulatory pathways for new drug approvals.
Geographical Regions:
North America currently holds the largest share in the Graves’ disease overactive thyroid market in terms of value, due to high healthcare expenditures and availability of advanced treatment options. The United States contributes significantly to the regional market growth.
Fastest Growing Region:
Asia Pacific region is poised to witness the fastest CAGR over the forecast period, attributed to rising incidences of thyroid disorders, growing medical tourism, improvements in healthcare infrastructure and rising spending on healthcare. China and India represent major emerging markets.
About Author - Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
