Thyroid eye disease (TED), also known as Graves' ophthalmopathy, is an autoimmune disorder characterized by inflammation of the muscles and fat tissues in the eye socket. Symptoms of TED include eyelid retraction, proptosis or bulging of the eyes, double vision, and dry eyes among others. The current treatment options for TED includes medications such as steroids and teprotumumab, radiation therapy, orbital decompression surgery and cosmetic eyelid surgery.
Market key trends:
The increasing prevalence of thyroid disorders, especially Graves' disease and Hashimoto's thyroiditis, has led to a rise in the number of cases of TED over the past few years. According to the American Thyroid Association, it is estimated that Graves' disease occurs in approximately 1 per 200 women and 1 per 1,000 men in the U.S. each year. Similarly, Hashimoto's thyroiditis affects nearly 14% of the American population. Since TED is an autoimmune disorder strongly associated with Graves' disease, its incidence is also on the rise along with the increasing incidence of hyperthyroidism. This has emerged as a key factor driving growth of the global thyroid eye disease treatment market.
Segment Analysis
The global thyroid eye disease treatment market can be segmented on the basis of drug type, distribution channel and region. Based on drug type, the market has been segmented into corticosteroids, immunosuppressant, monoclonal antibodies and others. Corticosteroids holds the highest market share currently owing to its wide utilization and effectiveness for thyroid eye disease treatment. The immunosuppressant segment is expected to witness high growth during the forecast period owing to increasing adoption of new drugs such as teprotumumab.
Key Takeaways
The Global Thyroid Eye Disease Treatment Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The market size for 2024 is projected to be US$ 1.62 Bn and is anticipated to reach a valuation of US$ 10 Bn by 2031, registering a CAGR of 24% during the forecast period.
Regional analysis: North America currently dominates the global thyroid eye disease treatment market and is expected to continue its dominance during the forecast period. This can be attributed to the presence of well-established healthcare infrastructure and increasing awareness regarding thyroid eye disease treatment options. Asia Pacific region is projected to witness the fastest growth during the forecast period owing to large patient pool, growing healthcare expenditure and rising focus of key players in emerging markets of the region.
Key players operating in the thyroid eye disease treatment market are Sumitomo Electric Industries, Ltd, Lear Corporation, Leoni AG, Motherson Group, Yazaki Corporation, Aptiv PLC, Furukawa Electric Co, Delphi Automotive LLP, Furukawa Electric Co. Ltd, Nexans Autoelectric, Yura Corporation, THB Group, BorgWarner, Inc, Nexans Autoelectric GmbH, and AmWINS Group Inc.
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