Thyroid eye disease, also known as Graves’ ophthalmopathy, is a condition where the eye muscles and fatty tissues behind the eye become inflamed and swollen due to hyperthyroidism or Graves’ disease. Common symptoms include dry eyes, redness, bulging eyes, double vision, drooping eyelids and sensitivity to light. Thyroid eye disease can severely impact the quality of life as it can lead to vision loss if left untreated. Currently, corticosteroids and orbital decompression surgery are widely used treatment options. However, new emerging biological treatments targeting autoimmune pathways are showing promising results with fewer side effects. The global thyroid eye disease treatment market is gaining significant traction with the growing prevalence of thyroid disorders worldwide.
The global Thyroid Eye Disease Treatment Market is estimated to be valued at US$ 1.62 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the thyroid eye disease treatment market is the emergence of biological therapies targeting autoimmune pathways involved in the pathogenesis of the disease. Drugs such as teprotumumab, which inhibits Insulin-like Growth Factor-1 Receptor (IGF-1R), have demonstrated promising results in phase III clinical trials. Teprotumumab was granted Breakthrough Therapy designation by the U.S. FDA in 2019 due to its efficacy and safety profile. It has the potential to become the first FDA approved pharmacological treatment for thyroid eye disease. Another promising biological called Rituximab, which targets B-lymphocytes, is also under evaluation in ongoing clinical studies. With their targeted approach and fewer side effects compared to corticosteroids, biological therapies are likely to revolutionize the long-term management of thyroid eye disease in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low given the high costs required for R&D, manufacturing and marketing.
Bargaining power of buyers: The bargaining power of buyers is moderate as the treatment options are limited and branded products differentiate the market.
Bargaining power of suppliers: The bargaining power of suppliers is low given the availability of alternatives and lack of supplier concentration.
Threat of new substitutes: The threat of new substitutes is moderate as other treatment methods continue to emerge but have not replaced existing options.
Competitive rivalry: Competition in the market is high between established brands.
Key Takeaways
The Global Thyroid Eye Disease Treatment Market Demand is expected to witness high growth.
Regional analysis: North America currently dominates the global market and is expected to retain its position throughout the forecast period. Favorable reimbursement policies and strong healthcare infrastructure are some of the factors supporting market growth in the region.
Key players: 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. Players are focusing on new product launches and geographical expansion strategies to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it