Product Code: BWC19439
Global Thyroid Eye Disease Market Thriving -Projected to Accelerate at a CAGR of 9.1% by 2027
Global Thyroid Eye Disease market is anticipated to grow due to the steep rise in smoking habits has become the other key factor influencing the growth of the market. Fast food consumption has reduced dietary intake of nutritious foods, increasing the need for diagnosis and treatment, thereby impacting the global Thyroid eye disease market….
A study, recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global thyroid eye disease market was valued USD 237.6 million in 2020 and is further projected to reach USD 417.4 million by 2027, at a CAGR of 9.1% during the forecast period (2021-2027). The increasing prevalence of thyroid eye disease and favorable reimbursement policies for the treatment of the same are the key factors driving market growth. Additionally, the consumption of fast food or carbonated sodas and drinks has been the other major factors exacerbating the situation of hyperthyroidism patients.
Increasing Approval of Drugs for the Treatment of Thyroid Eye Disease
In January 2020, the Food and Drug Administration (FDA) approved teprotumumab-trbw (Tepezza, Horizon Therapeutics), which is considered the first medicine approved for the treatment of thyroid eye disease. Before the approval of teprotumumab-trbw, patients suffering from thyroid eye disease had to wait for approximately three years or more for their condition to go from acute phase to chronic phase for a series of surgeries to help restore vision and appearance of their eyes. At week 24, 82.9% of patients treated with teprotumumab-trbw had a 2-mm reduction in proptosis, compared to 9.5% of patients treated with placebo, with no deterioration in the other eye in the Tepezza phase 3 clinical trial. In Addition, according to FDA, 67.9% of patients treated with teprotumumab-trbw had at least 1-grade baseline change in diplopia at week 24 compared with 28.6% of patients treated with placebo. Thus, teprotumumab-trbw has changed the way doctors treat patients suffering from thyroid eye disease. Doctors now have a dedicated medicine that addresses the disease's primary causes, potentially reversing the disease's progression. Thus, the market for thyroid eye disease is growing due to increased technical breakthroughs and medicinal approvals.
Anti-Thyroid Medication Segment to Witness the Largest Growth in the Treatment Segment
Based on treatments, the global thyroid eye disease market is trisected into anti- thyroid medication, radioactive iodine therapy, and surgery. The anti-thyroid medication segment accounted for the largest share in the market in 2020 and is anticipated to record an impressive CAGR over the forecast period. Anti-thyroid medicines are the simplest way to treat this disease and has few to no adverse effects. Furthermore, methimazole (MMI) and propylthiouracil (PTU) are commonly utilized medications in the treatment. The disease is self-limited; however, if unchecked, inflammation of the eye tissues can cause permanent scars. Ocular lubricants may be sufficient in the early stages of the disease. However, the disease's increasing severity may necessitate adjustments in treatment and even hospitalization.
Impact of COVID-19 on Global Thyroid Eye Disease Market
The COVID-19 outbreak has negatively influenced the global Thyroid eye diseases market. Due to lockdown and travel restrictions, patients were unable to travel to hospitals, which reduced the demand for checkups. A study published in the Asia-Pacific Journal of Ophthalmology reported that ophthalmology centers are at the highest risk of transmitting COVID-19, which calls for extra precautionary measures. Close contact, aerosols, droplets, and others are the most common routes for the transfer of COVID-19. Thus, ophthalmologist centers are at the highest risk of infection due to exposure to these viral particles. In typical face-to-face ocular clinical examinations the slit lamp or direct ophthalmoscope is used in close proximity to the patient, thereby increasing the chances of contracting the coronavirus. Moreover numerous hospitals and clinics were used for treating COVID-19 patients, which resulted in delays in treatment and surgery.
Global Thyroid eye disease Market: Regional Insights
The global thyroid eye disease market is grouped into North America, Europe, the Asia-Pacific, Latin America and the Middle East and Africa. North America accounted for the largest share in the market in 2020. On the other hand, Europe accounted for the second-largest share in the market due to increasing smoking habits across the region. Smoking habits are commonly observed in Eastern Europe, which is heavily influenced by the substance. Because smoking is one of the major causes of the disease's spread, it opens up new prospects for the detection and treatment of thyroid eye disease
Competitive Landscape
The leading players in the global thyroid eye disease market are Pfizer Inc., Abbott Laboratories Inc., Abbvie Inc., Merck & Co., Inc., Horizon Therapeutics Plc, Johnson & Johnson, GE Healthcare, Carl Zeiss Meditec AG, Alcon Vision LLC, Eli Lilly and Company, Optovue Inc., RC Labs Inc., Hitachi Medical Systems America Inc., Kala Pharmaceuticals, Inc., Akron Pharmaceuticals, Carestream, Santen Pharmaceutical Co., Ltd., Fresnel Prism & Lens Co., TOMTEC Imaging Systems GmbH, and other prominent players. Due to a lack of understanding of the disease, thyroid eye disease has gone undiagnosed in a number of poor countries. Due to the rising awareness programs, the disease is becoming more recognized, resulting in the market's growth. As a result, the global thyroid eye disease market is becoming more concentrated.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global thyroid eye disease market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the ¬¬¬thyroid eye disease market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary and Secondary Sources
- 2.2. Quantitative Research
- 2.2.1. Primary and Secondary Sources
- 2.3. Breakdown of Primary Research Respondents
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Industry Participants
- 2.5. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Thyroid Eye Disease Market - Industry Insights
- 4.1. Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunity
- 4.2.4. Challenges
- 4.3. Recent Developments
- 4.4. Regulatory Framework
- 4.5. Porter Five Forces Analysis
5. Global Thyroid Eye Disease Market Overview
- 5.1. Market Size & Forecast by Value, 2017-2027
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Diagnosis
- 5.2.1.1. Ultrasound
- 5.2.1.2. Imaging Test
- 5.2.1.3. Radioactive Iodine Uptake
- 5.2.1.4. Blood Sample
- 5.2.2. By Treatment
- 5.2.2.1. Anti- Thyroid Medication
- 5.2.2.2. Radioactive Iodine Therapy
- 5.2.2.3. Surgery
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. The Asia-Pacific
- 5.2.3.4. Latin America
- 5.2.3.5. The Middle East & Africa
6. North America Thyroid Eye Disease Market
- 6.1. Market Size & Forecast by Value, 2017-2027
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Diagnosis
- 6.2.2. By Treatment
- 6.2.3. By Country
- 6.2.3.1. United States
- 6.2.3.2. Canada
7. Europe Thyroid Eye Disease Market
- 7.1. Market Size & Forecast by Value, 2017-2027
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Diagnosis
- 7.2.2. By Treatment
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. United Kingdom
- 7.2.3.3. France
- 7.2.3.4. Italy
- 7.2.3.5. Spain
- 7.2.3.6. Russia
- 7.2.3.7. Rest of Europe
8. Asia Pacific Thyroid Eye Disease Market
- 8.1. Market Size & Forecast by Value, 2017-2027
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Diagnosis
- 8.2.2. By Treatment
- 8.2.3. By Country
- 8.2.3.1. China
- 8.2.3.2. India
- 8.2.3.3. Japan
- 8.2.3.4. South Korea
- 8.2.3.5. Singapore
- 8.2.3.6. Rest of Asia Pacific
9. Latin America Thyroid Eye Disease Market
- 9.1. Market Size & Forecast by Value, 2017-2027
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Diagnosis
- 9.2.2. By Treatment
- 9.2.3. By Country
- 9.2.3.1. Brazil
- 9.2.3.2. Mexico
- 9.2.3.3. Argentina
- 9.2.3.4. Rest of Latin America
10.Middle East & Africa Thyroid Eye Disease Market
- 10.1. Market Size & Forecast by Value, 2017-2027
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Diagnosis
- 10.2.2. By Treatment
- 10.2.3. By Country
- 10.2.3.1. Saudi Arabia
- 10.2.3.2. UAE
- 10.2.3.3. South Africa
- 10.2.3.4. Rest of Middle East & Africa
11.Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis (2020)
- 11.3. Competitive Benchmarking, By Operating Parameters
12.Impact of COVID-19 on Global Thyroid Eye Disease Market
13.Company Profiles (Company Overview, Financial Matrix, Key Treatment landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- 13.1. Abbvie Inc.
- 13.2. Abbott Laboratories Inc.
- 13.3. Allergan Plc
- 13.4. Apitope Technology Ltd.
- 13.5. AstraZeneca Plc
- 13.6. Bristol-Myers Squibb Company
- 13.7. Eli Lilly and Company
- 13.8. Epivax, Inc
- 13.9. GlaxoSmithKline Plc
- 13.10. Johnson & Johnson
- 13.11. Macleods Pharmaceuticals Ltd.
- 13.12. Merck & Co., Inc
- 13.13. Mylan NV
- 13.14. Novartis International Ag
- 13.15. Pfizer Inc.
- 13.16. Other Prominent Players
List of Tables
- Table 1: Global Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 2: Global Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 3: Global Thyroid Eye Disease Market Size. By Region, By Value (USD Million), 2017-2027
- Table 4: North America Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 5: North America Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 6: North America Thyroid Eye Disease Market Size (USD Million), By Country, By Value 2017-2027
- Table 7: Europe Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 8: Europe Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 9: Europe Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027
- Table 10: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 11: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 12: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027
- Table 13: Latin America Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 14: Latin America Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 15: Latin America Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027
- Table 16: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027
- Table 17: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027
- Table 18: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027
- Table 19: List of Key Players and Their Offerings
- Table 20 : Competitive Benchmarking, by Operating Parameters
- Table 21 Pfizer Inc. Overview
- Table 22 : Pfizer Inc. Financial Analysis (USD Million)
- Table 23 : Abbott Laboratories Overview
- Table 24 : Abbott Financial Analysis (USD Million)
- Table 25: Eli Lilly and Company Overview
- Table 26: Eli Lilly and Company Financial Analysis (USD Million)
- Table 27 : Abbvie Inc. Overview
- Table 28 : Abbvie Inc. Financial Analysis (USD Million)
- Table 29: Horizon Therapeutic Plc Overview
- Table 30: Horizon Therapeutic Plc Financial Analysis (USD Million)
- Table 31: RLC Labs Inc. Overview
- Table 32: Alcon Vision LLC Overview
- Table 33: Alcon Vision LLC Financial Analysis (USD Million)
- Table 34: Carl Zeiss Meditec AG Overview
- Table 35: Carl Zeiss Meditec AG Financial Analysis (USD Million)
- Table 36: Johnson & Johnson Vision Overview
- Table 37: Johnson & Johnson Vision Financial Analysis (USD Million)
- Table 38: Akron Pharmaceuticals Overview
- Table 39: Kala Pharmaceuticals, Inc. Overview
- Table 40: Kala Pharmaceuticals, Inc. Financial Analysis (USD Million)
- Table 41: Santen Pharmaceutical Co., Ltd. Overview
- Table 42: Santen Pharmaceutical Co., Ltd. Financial Analysis (USD Million)
- Table 43: Merck & Co. Overview
- Table 44 : Merck & Co. Financial Analysis (USD Million)
- Table 45 : Optovue Overview
- Table 46 : Fresnel Prism & Lens Co. Overview
List of Figures
- Fig 1: Global Thyroid Eye Disease Market Segmentation
- Fig 2 : Global Thyroid Eye Disease Market: Healthcare Industry Value Chain
- Fig 3: Image of Algorithm for investigating a patient with suspected Graves' hyperthyroidism
- Fig 4: Porters Five Forces Analysis
- Fig 5 : Global Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 6 : Global Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 7: Global Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 8: Global Thyroid Eye Disease Market Share (%), By Region, By Value, 2017-2027
- Fig 9 : North America Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 10: North America Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 11: North America Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 12: North America Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027
- Fig 13 : Europe Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 14: Europe Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 15: Europe Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 16: Europe Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027
- Fig 17 : The Asia-Pacific Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 18: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 19: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 20: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027
- Fig 21 : Latin America Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 22: Latin America Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 23: Latin America Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 24: Latin America Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027
- Fig 25 : the Middle East & Africa Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027
- Fig 26: the Middle East & Africa Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027
- Fig 27: the Middle East & Africa Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027
- Fig 28: The Middle East & Africa Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027
- Fig 29: Global Thyroid Eye Disease Market: Company Analysis, By Value, 2020