Global market for Graves' Disease treatment set to grow by 4.63% by 2033
From GlobeNewswire: 2024-07-05 08:00:00
The Graves’ Disease (Overactive Thyroid) Market is set to grow from USD 390.8 million in 2023 to USD 614.6 million by 2033, with a CAGR of 4.63% during the projected period. Graves’ disease, an autoimmune condition causing hyperthyroidism, may become more prevalent globally, driving market growth. Treatment focuses on stopping the body’s excess production of thyroid hormones. Heart problems, high treatment costs, and limited healthcare infrastructure in developing nations may hinder market growth.
The anti-thyroid drugs segment is expected to dominate the global graves’ disease market, comprising treatment options including beta-blockers, iodine therapy, and radioactive iodine therapy. Anti-thyroid drugs are often the first line of treatment, reducing the activity of the hyperactive thyroid gland. The oral segment is projected to see the fastest growth, thanks to its non-invasive nature and ease of administration. Hospital pharmacies are forecasted to grow the fastest in distribution channels due to high hospital visits for Graves’ disease.
North America is anticipated to lead the global graves’ disease market, with several pharmaceutical companies focusing on novel treatments. Asia Pacific is expected to grow rapidly due to increasing healthcare access and a growing patient population with thyroid issues. Companies like Allergan, AstraZeneca, and Novartis are key players in the market, focusing on innovations and partnerships to drive growth. In June 2022, Sling Therapeutics raised USD 35 million to advance their drug for thyroid eye disease. Market segments include treatment options, route of administration, and distribution channels, with regional analysis for North America, Europe, Asia Pacific, and more.
This comprehensive analysis and forecast offer insights into the global graves’ disease market, highlighting growth opportunities and key players in the industry. With segments based on treatment, route of administration, and distribution channels, the market is projected to witness significant growth, particularly in North America and Asia Pacific. The involvement of major pharmaceutical companies and ongoing developments in the field indicate a promising outlook for the market.
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