Global Graves’ Disease (Overactive Thyroid) Market Insights Forecasts to 2033

• The Global Graves’ Disease (Overactive Thyroid) Market Size was Valued at USD 390.8 Million in 2023
• The Market Size is Growing at a CAGR of 4.63% from 2023 to 2033
• The Worldwide Graves’ Disease (Overactive Thyroid) Market Size is Expected to Reach USD 614.6 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Graves’ Disease (Overactive Thyroid) Market Size is Anticipated to Exceed USD 614.6 Million by 2033, Growing at a CAGR of 4.63% from 2023 to 2033.

Market Overview

Basedow's disease, commonly referred to as graves' disease (overactive thyroid), is an autoimmune disorder that causes hyperthyroidism. It happens when the thyroid is attacked by the immune system, which results in an overproduction of thyroid hormones. The goal of treating graves' disease is to prevent the body from producing thyroid hormones and to stop their effects. Propranolol and metoprolol are two kinds of beta-blockers that are commonly used as first-line therapies. One of the most common causes of excessive thyroid hormone in the blood is graves' disease, an autoimmune condition that results in hyperthyroidism. Antithyroid medications such as propylthiouracil and methimazole (Tapazole) inhibit the thyroid gland's ability to produce thyroid hormone. Taking a single dose of radioactive iodine as a pill or liquid is known as radioiodine therapy. Growing use of cutting-edge treatments and medications in the pipeline to enhance the effectiveness of graves' disease treatment. Research and development efforts are increasing, which is driving the market's growth. This will present advantageous prospects for the growth of the graves' disease (overactive thyroid) industry. Overactive thyroid disease (graves' disease) market growth is expected to be supported by growing investment in cutting-edge technology research and the expansion of emerging markets throughout the forecast period.

Report Coverage

This research report categorizes the market for the global graves’ disease (overactive thyroid) market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global graves’ disease (overactive thyroid) market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global graves’ disease (overactive thyroid) market.

Driving Factors

The overactive thyroid condition, or graves' disease, is predicted to become increasingly prevalent worldwide, which will drive growth in the market. Heart issues are among the many harmful side effects of hyperthyroidism. The symptoms include an elevated heart rate, atrial fibrillation, a heart rhythm abnormality that increases the risk of stroke, and congestive heart failure, a condition in which the heart fails to pump enough blood to meet the body's demands. The market for graves' disease (overactive thyroid) is also growing at a large rate due to increased healthcare spending, which supports the development of the industry's infrastructure. Additionally, by boosting funding, several government groups hope to improve the healthcare infrastructure, which would further alter the dynamics of the market.

Restraining Factors

The treatment's high cost is going to restrict the market's rate of expansion. The graves’ disease (overactive thyroid) industry will face challenges from developing economies' lack of healthcare infrastructure and a shortage of qualified specialists. Strict regulations and a general lack of awareness among the public will also limit and challenge the market's growth during the projection period.

Market Segmentation

The global graves’ disease (overactive thyroid) market share is classified into treatment, route of administration, and distribution channel.

• anti-thyroid drugs segment dominates the market with the largest market share through the forecast period.

Based on the treatment, the global graves’ disease (overactive thyroid) market is categorized into anti-thyroid drugs, beta-blockers, iodine therapy, radioactive iodine therapy, and others. Among these, the anti-thyroid drugs segment dominates the market with the largest market share through the forecast period. The anti-thyroid drugs are easy to take and don't need hospital stays, they are typically the initial line of treatment for graves' disease. They function by inhibiting the synthesis of thyroid hormones and lowering the hyperactive thyroid gland's activity. Methimazole and propylthiouracil (PTU) are two anti-thyroid medications that are frequently prescribed.

• The oral segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the route of administration, the global graves’ disease (overactive thyroid) market is categorized into oral, parenteral, and others. Among these, the oral segment is anticipated to grow at the fastest CAGR growth through the forecast period. The oral route is a painless, non-invasive method. When taking medications orally, which primarily consists of antithyroid pills, medical personnel do not need to be present. This provides patients the flexibility to self-administer their medication anywhere they like, according to the recommended dosage guidelines. Additionally, oral drugs do not require special storage conditions and have a long shelf life.

• The hospital pharmacies segment accounted for the largest revenue share through the forecast period.

Based on the distribution channel, the global graves’ disease (overactive thyroid) market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment accounted for the largest revenue share through the forecast period. Hospital pharmacies are essential components of healthcare facilities, and patients can obtain prescription drugs directly from these on-site pharmacies. Given that hospital visits for graves' disease patients continue to be high, particularly during the early stages of diagnosis and treatment when surgery or radioactive iodine therapy may be necessary, this segment has emerged as the primary route of distribution.

Regional Segment Analysis of the Global Graves’ Disease (Overactive Thyroid) Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global graves’ disease (overactive thyroid) market over the predicted timeframe.

North America is anticipated to hold the largest share of the global graves’ disease (overactive thyroid) market over the predicted timeframe. Major pharmaceutical businesses with a focus on developing new treatments for graves' disease are heavily represented in the region. There is a great need for graves disease drugs due to the rising incidence of thyroid problems and rising healthcare costs in the United States and Canada. Along with a strong regulatory framework, the region offers a good reimbursement environment that facilitates the clearance of innovative products. Therefore, in comparison to other regions, North American countries are quick to accept novel therapeutic approaches and recently FDA-approved medications.

Asia Pacific is expected to grow at the fastest CAGR growth of the global graves’ disease (overactive thyroid) market during the forecast period. Opportunities for market participants may arise from growing healthcare awareness and easier access to healthcare services, particularly in developing nations like China and India. These countries have a sizable patient population with thyroid diseases as a result of changing lifestyles and genetic predispositions. Patients in Asia Pacific can now afford to take Graves' disease treatments more easily due to increased local production of generic meds.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global graves’ disease (overactive thyroid) market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Allergan
• AstraZeneca
• Sling Therapeutics, Inc
• Johnson & Johnson Private Limited
• Hikma Pharmaceuticals PLC
• Merck KGaA
• Novartis AG
• Mindray
• HanAll Biopharma Co., Ltd.
• Mylan N.V.
• Aspen Pharmacare Holdings Ltd
• GlaxoSmithKline plc
• Horizon Therapeutics plc
• Alara Pharmaceutical Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2022, Sling Therapeutics, Inc., a biopharmaceutical company, led by TPG's The Rise Fund, launched a Series A funding round that raised USD 35 million. These funds will be used to support a Phase 2b clinical trial that will evaluate the company's experimental medication, sunitinib, for the treatment of thyroid eye disease (TED). TED is primarily reported in women and is most usually associated with hyperthyroidism resulting from Graves' illness.

• In May 2022, Mindray, a medical instrumentation manufacturer, launched the TRAb assay designed for diagnosing and managing Graves' disease. Thyrotropin receptor antibody (TRAb), recognized as the pathogenic antibody in Graves' disease, serves as a pivotal serum biomarker aiding in diagnosis.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global graves’ disease (overactive thyroid) market based on the below-mentioned segments: 

Global Graves’ Disease (Overactive Thyroid) Market, By Treatment

• Anti-thyroid Drugs
• Beta Blockers
• Iodine Therapy
• Radioactive Iodine Therapy
• Others

Global Graves’ Disease (Overactive Thyroid) Market, By Route Of Administration

• Oral
• Parenteral
• Others

Global Graves’ Disease (Overactive Thyroid) Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Global Graves’ Disease (Overactive Thyroid) Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa