Global Grave’s Disease Market 2022-2028

Global Grave’s Disease Market 2022-2028

Global Grave’s disease diagnosis and treatment market size was $745.0 million in 2021 and is growing at a modest CAGR of 4.2% during the forecast period. The market has been consolidated with the presence of a few key market players that register a significant share of the overall market. The key players in the market include Macleods Pharmaceuticals Ltd., Apitope International N.V., RLC Labs Inc., and so on. The market is estimated by considering all the diagnostic and treatment products and services provided by these key players across the globe. The Grave’s disease diagnosis market is growing at the highest CAGR of 5.3% during the forecast period owing to increasing awareness towards the disease and increasing market for Radioactive Iodine Uptake (RAIU) across the developed region such as the US and UK.

However, the lack of professionals in emerging economies is a major restraining factor for the growth of Grave’s disease market in emerging countries. This is driven by a lack of awareness and poor healthcare policies regarding Grave’s disease diagnosis and treatment. Further, the cost associated with treatment is also considered the limiting factor in the growth of the global Grave’s disease market. The cost of thyroid surgeries is approximately more than $2,500 in the US.

Segmental Outlook

The Grave’s disease market is segmented into diagnosis and treatment. Based on the diagnosis, the market can be segmented into ultrasound, an imaging test, RIAU, and blood samples. Blood sample testing is the most common method of diagnosis of Grave’s disease. A blood test can be used for detecting thyroid-stimulating immunoglobulin (TSI). Ultrasound diagnosis method in Grave’s diseases market is growing at the highest CAGR during the forecast period attributed to the increasing advancement in ultrasound technology and significant contribution of major players such as Phillips, Toshiba, GE Healthcare, and Abbott providing ultrasound across the globe. Based on treatment, the market is diversified as anti-thyroid medication, radioactive iodine therapy, and surgery.

Regional Outlook

The report includes an analysis of the global Grave’s disease diagnosis and treatment market from a geographical standpoint and segmented the market into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America held a dominant position in the global Grave’s diseases market in 2021. North America has a well-developed healthcare infrastructure, owing to which, the companies are receiving funding and investment for the development of therapies for autoimmune diseases. For instance, the National Institutes of Health (NIH) has invested $591 million in autoimmune diseases. This supports the development of therapies for the treatment of Grave’s disease. A sedentary lifestyle and unhealthy dietary habits coupled with smoking and the growing prevalence of diabetes are among the major factors for the growth of Grave’s disease in the region. The US market in North America is dominating due to several factors such as investments in R&D, high healthcare expenditure, the presence of key players, and an increasing geriatric population.

Market Player Outlook

Major players contributing to the global Grave’s disease diagnosis and treatment market include Rodos Biotarget GmbH, Sanofi Genzyme, Macleods Pharmaceuticals Ltd., Apitope International N.V., RLC Labs Inc. Takeda Pharmaceutical Co., Ltd., and Omeros Corp. These companies are engaged in the development of innovative and improved products and instruments for the treatment and diagnosis of the disease. These market players are adopting different strategies to stay competitive in the market. Various funding grants to perform R&D on new therapies to treat Grave’s disease. For instance, in January 2020, the US FDA approved Tepezza (teprotumumab-trbw) for the treatment of adults with thyroid eye disease, a rare condition where the muscles and fatty tissues behind the eye become inflamed, causing the eyes to be pushed forward and bulge outwards (proptosis). The approval represents the first drug approved for the treatment of thyroid eye disease. Further, in December 2017, the company awarded an SBIR grant for the development of a new therapy for Grave’s disease. With this grant, the company started work on the project of novel antigen-specific immunomodulatory tregitope-based therapy to address autoimmune pathogenesis in Grave’s disease.