Market Size of Graves Disease Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Graves Disease Market Analysis
The Graves' disease market is expected to register a significant CAGR of 4.2% during the forecast period.
The emergence of the COVID-19 pandemic hurt the world economy and the healthcare system. There is a need to streamline the healthcare process during the COVID-19 times. Due to the COVID-19-led outages, there was a temporary shutdown of the manufacturing plants and a lack of skilled labor, which resulted in supply chain disruptions, impacting the demand and supply of anti-thyroid medications and radioactive iodine, thus impacting the market. Also, due to the rising cases of COVID-19, resources at healthcare facilities were reallocated to the COVID ward, thereby delaying the diagnosis of Graves' disease and hyperthyroidism, thus impacting the market. However, with the increase in vaccination drives and decrease in COVID-19 cases, the diagnosis and therapeutics of GD came to pre-pandemic levels. Additionally, the article 'COVID-19 may trigger Graves' disease relapse, subacute thyroiditis,' published in May 2021, reported that approximately 15% of patients with mild to moderate COVID-19 have thyroid dysfunction, and SARS-CoV-2 may directly affect thyroid morphology and function, worsening preexisting autoimmune thyroid disease. Thus, COVID-19 significantly impacted the market and is expected to impact during the study period.
The factors propelling the studied market growth are the increasing prevalence of hyperthyroidism, rising funding for rare diseases and advancement in treatment technology for effective treatment of Graves' disease is another factor propelling the market growth. Currently, most of the population are adopting sedentary behavior, which is a major cause of thyroid-related diseases, including hyperthyroidism, hypothyroidism, autoimmune diseases, goiter, and others. Additionally, the growing prevalence of smoking, drinking alcohol, and unhealthy foods in developed and developing countries due to sedentary lifestyles lead to serious immune problems such as Graves disease.
According to the Cleveland clinic, in 2022, it has been stated that Graves' disease is one of the most common cause of hyperthyroidism and accounts for around 60% to 80% of hyperthyrodism cases and approximately 1.2% of people in the United States have hyperthyroidism. Thereby, due to this factor there is a need to treat Graves' disease, which in turn is elevating market growth.
Additionally, the study 'Prevalence of hyperthyroidism, hypothyroidism, and euthyroidism in thyroid eye disease: a systematic review of the literature' published in September 2020 estimates global prevalence of hypothyroidism is 10.36%, euthyroidism is 7.9%, and hyperthyroidism is 86.2%. Thus, this high prevalence of thyroid eye disease encourages the research and development activities in the studied market, which will drive the market growth significantly.
Moreover, In April 2022, National Organization for Rare Disorder invested USD 100,000 in grant funding for rare disease research, which will be awarded to qualified researchers to initiate small scientific research studies or clinical trials, the results of which could be used to obtain funding from the National Institutes for Health (NIH), United States Food and Drug Administration (FDA), or other funding agencies, or to attract a corporate sponsor.
However, high costs of treatments and limited reimbursement policies are expected to hinder the market growth during the study period.
