Report Overview

Global Thyroid Eye Disease Market- Industry Trends & Forecast Report 2027

The global thyroid eye disease market is increasing at a potential year-over-year (YOY) rate and has reached USD 237.6 million by 2020. The market is projected to reach USD 417.4 million by 2027. The increasing prevalence of thyroid problems around the world is causing the market to grow. Additionally, steep rise in smoking habits has become the other key factor influencing the growth of the market.

Source: BlueWeave Consulting

Global Thyroid Eye Disease Overview

Thyroid eye disease commonly referred to as Graves ' disease, is a condition of the immune system that results in hyperthyroidism. It is a problem that causes the overproduction of thyroid hormones by the thyroid gland. Thyroid eye disease is a type of inflammation of the muscles of the skin, eyelids, tear glands, and fatty tissues behind the eyes. This can cause the eyes and eyelids to become red, inflamed, and uncomfortable, as well as move the eyes forward.

Global Thyroid Eye Disease Market Trend

Growth Drivers

Technological Advancement in Medical Field

There have been significant technological improvements in the medical system and in the development of new technologies which has allowed ultrasound technology to be more widely adopted for soft tissue diagnosis. Thyroid eye disease technical equipment design necessitates hardware enhancements such as reduced machine size, minimum heat generation, and increased energy efficiency. All of these technological upgrades, together with major increases in image quality, aid in the accurate diagnosis of thyroid-eye illness. Furthermore, market participants are launching new advanced point-of-care ultrasound solutions in an effort strengthen their position in the market. For example, in March 2018, in collaboration with Innovative Imaging Technologies (IIT), Royal Philips unveiled an integrated tele-ultrasound solution based on Philips ' Lumify portable ultrasound system using the collaborative framework of IIT's Reactions. This innovation allows for real-time communication between clinicians around the globe using a tele-ultrasound solution. This breakthrough in point of care (POC) technology drives demand for POC ultrasound devices, which in turn drives the Thyroid eye disease market.

Opportunity

Growing Number of Tobacco Smoker

About 40% of the people suffering from grave disease develop thyroid eye disease. It majorly happens when the body's immune system attacks the backside of the eye and causes inflammation. Cigarette smoking is known to have a significant influence on graves' disease and thyroid eye disease. Smoke contains a considerable amount of harmful and toxic chemicals that can harm the immune system. Smoking also reduces the amount of oxygen in tissues and the body. Due to the low oxygen content in the body, it causes inflammation behind the eyes.

According to the WHO, over 80% of the world's 1.3 billion tobacco users live in low- and middle-income countries. From 1.05 billion tobacco consumers in 2000 to 1.09 billion tobacco consumers in 2018, male tobacco consumption has increased by approximately 40 million (or 82% of the current 1.34 billion tobacco consumers in 2018). According to CDC, each day in the U.S., about 1,600 youth smoke their first cigarette, and nearly 200 youth start smoking every day. Thus, the increasing number of tobacco smokers globally is driving the thyroid eye diseases market.

Restraints

Lack of Skilled Professionals

The rising demand for skilled healthcare practitioners is not exclusive to the U.S. According to a report published in the journal Human Resources for Health in 2016, 80 million healthcare staff would be needed globally by 2030. Nevertheless, only 65 million healthcare workers were projected to be available by 2020, leaving a global shortage of 15 million.

Ophthalmologists are the doctors who treat patients suffering from thyroid eye diseases. According to Royal College of Ophthalmologist, over the next two years an, extra 230 consultant and 204 Staff and Associate Specialist (SAS) posts would be required in the U.K, due to low availability of eye specialist consultants. Moreover, 67% of hospital eye units are using locum doctors to fill consultant posts. Thus, the shortage of ophthalmologist around the globe has hindered the market growth of the thyroid eye disease  market.

Impact of COVID-19 on the Global Thyroid Eye Disease Market

Around the end of 2020, the industries began to reopen, but a majority of the markets are still trying to recover from the effects of the COVID-19. Vaccination drives have given hope that the market would recover, but the second wave of the COVID-19 and the threat of the upcoming third wave of the COVID-19 have affected the pace of market recovery. The coronavirus outbreak has negatively influenced the global thyroid eye diseases market. Due to lockdown and travel restrictions, the patients could not travel to hospitals, which reduced the demand for checkups. The number of out-patients also decreased, thus impacting the market negatively.

Global Thyroid Eye Disease Market: By Diagnosis

Based on diagnosis, the global thyroid eye disease market is grouped into ultrasound, imaging tests, radioactive iodine uptake, and blood sample. The ultrasound segment is expected to register a strong CAGR during the forecast period (2021-2027). Over 80% of the time, thyroid eye disease occurs in people who have a hyperthyroid condition, compared to 15% of those who have a hypothyroid condition. The most commonly leveraged diagnosis is ultrasonography or ultrasound.

Source: BlueWeave Consulting

Global Thyroid Eye Disease Market: Regional Insights

The global thyroid eye disease market is grouped into North America, Europe, the Asia-Pacific, Latin America and the Middle East and Africa. North America accounted for the largest share of the market in 2020. The growth in the North American region can be attributed to the increased research, development, and discovery of most pharmacological therapies in the region. According to the National Health Expenditure data report 2019, the U.S. had the highest healthcare expenditure per capita globally at USD 10,966 (PPP) in 2019. Such investment directed toward healthcare makes it easier for organizations to develop drugs that help reduce the penetration of diseases like thyroid eye disease.

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global thyroid eye disease market are Pfizer Inc., Abbott Laboratories Inc., Abbvie Inc., Merck & Co., Inc., Horizon Therapeutics Plc, Johnson & Johnson, GE Healthcare, Carl Zeiss Meditec AG, Alcon Vision LLC, Eli Lilly and Company, Optovue Inc., RC Labs Inc., Hitachi Medical Systems America Inc., Kala Pharmaceuticals, Inc., Akron Pharmaceuticals, Carestream, Santen Pharmaceutical Co., Ltd., Fresnel Prism & Lens Co., TOMTEC Imaging Systems GmbH and other prominent players. Due to a lack of understanding of the disease, thyroid eye disease has gone undiagnosed in a number of poor countries. Due to the rising awareness programs, the disease is becoming more recognized, resulting in the market's growth. As a result, the global thyroid eye disease market is becoming more concentrated.

Recent Developments

• In July 2021, AbbVie, Biogen Inc., and Pfizer collaborated together to launch the world’s largest browsable resource, linking rare protein-coding genetic variants to human health and disease via a genetic exome sequence analysis. The browser, which was managed by the Broad Institute of MIT and Harvard, allows users to view results from whole exome sequencing data from 300,000 UK Biobank research participants. This browsable database was created by combining genetic data with specific health information.

• In July 2021, According to the provisions of the contract Eli Lilly and Company established a global research cooperation with MiNA Treatments Limited, a pioneer in RNA activation therapeutics, to develop novel medication candidates using MiNA's unique short activating RNA (saRNA) technology platform.

Scope of the Report

By Diagnosis

• Ultrasound
• Imaging Tests
• Radioactive Iodine Uptake
• Blood Sample

By Treatment

• Anti- Thyroid Medication
• Radioactive Iodine Therapy
• Surgery

By Region

• The Asia-Pacific
• North America
• Europe
• The Middle East & Africa
• Latin America

1.   Research Framework

1.1.  Research Objective

1.2.  Product Overview

1.3.  Market Segmentation

2.   Research Methodology

2.1.  Qualitative Research

2.1.1.   Primary and Secondary Sources

2.2.  Quantitative Research

2.2.1.   Primary and Secondary Sources

2.3.  Breakdown of Primary Research Respondents

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4.  Breakdown of Primary Research Respondents, By Industry Participants

2.5.  Market Breakdown & Data Triangulation

3.   Executive Summary

4.   Global Thyroid Eye Disease Market – Industry Insights

4.1.  Value Chain Analysis

4.2.  DROC Analysis

4.2.1.   Growth Drivers

4.2.2.   Restraints

4.2.3.   Opportunity

4.2.4.   Challenges

4.3.  Recent Developments

4.4.  Regulatory Framework

4.5.  Porter Five Forces Analysis

5.   Global Thyroid Eye Disease Market Overview

5.1. Market Size & Forecast by Value, 2017-2027

5.1.1.   By Value (USD Million)

5.2. Market Share & Forecast

5.2.1.   By Diagnosis

5.2.1.1.      Ultrasound

5.2.1.2.      Imaging Test

5.2.1.3.      Radioactive Iodine Uptake

5.2.1.4.      Blood Sample

5.2.2.   By Treatment

5.2.2.1.      Anti- Thyroid Medication

5.2.2.2.      Radioactive Iodine Therapy

5.2.2.3.      Surgery

5.2.3.   By Region

5.2.3.1.      North America

5.2.3.2.      Europe

5.2.3.3.      The Asia-Pacific

5.2.3.4.      Latin America

5.2.3.5.      The Middle East & Africa

6.   North America Thyroid Eye Disease Market

6.1.  Market Size & Forecast by Value, 2017-2027

6.1.1.   By Value (USD Million)

6.2.  Market Share & Forecast

6.2.1.   By Diagnosis

6.2.2.   By Treatment

6.2.3.   By Country

6.2.3.1.      United States

6.2.3.2.      Canada

7.   Europe Thyroid Eye Disease Market

7.1.  Market Size & Forecast by Value, 2017-2027

7.1.1.   By Value (USD Million)

7.2.  Market Share & Forecast

7.2.1.   By Diagnosis

7.2.2.   By Treatment

7.2.3.   By Country

7.2.3.1.      Germany

7.2.3.2.      United Kingdom

7.2.3.3.      France

7.2.3.4.      Italy

7.2.3.5.      Spain

7.2.3.6.      Russia

7.2.3.7.      Rest of Europe

8.   Asia Pacific Thyroid Eye Disease Market

8.1.  Market Size & Forecast by Value, 2017-2027

8.1.1.   By Value (USD Million)

8.2.  Market Share & Forecast

8.2.1.   By Diagnosis

8.2.2.   By Treatment

8.2.3.   By Country

8.2.3.1.      China

8.2.3.2.      India

8.2.3.3.      Japan

8.2.3.4.      South Korea

8.2.3.5.      Singapore

8.2.3.6.      Rest of Asia Pacific

9.   Latin America Thyroid Eye Disease Market

9.1.  Market Size & Forecast by Value, 2017-2027

9.1.1.   By Value (USD Million)

9.2.  Market Share & Forecast

9.2.1.   By Diagnosis

9.2.2.   By Treatment

9.2.3.   By Country

9.2.3.1.      Brazil

9.2.3.2.      Mexico

9.2.3.3.      Argentina

9.2.3.4.      Rest of Latin America

10.Middle East & Africa Thyroid Eye Disease Market

10.1.          Market Size & Forecast by Value, 2017-2027

10.1.1. By Value (USD Million)

10.2.          Market Share & Forecast

10.2.1. By Diagnosis

10.2.2. By Treatment

10.2.3. By Country

10.2.3.1.    Saudi Arabia

10.2.3.2.    UAE

10.2.3.3.    South Africa

10.2.3.4.    Rest of Middle East & Africa

11.Competitive Landscape

11.1.          List of Key Players and Their Offerings

11.2.          Market Share Analysis (2020)

11.3.          Competitive Benchmarking, By Operating Parameters

12.Impact of COVID-19 on Global Thyroid Eye Disease Market

13.Company Profiles (Company Overview, Financial Matrix, Key Treatment landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

13.1. Abbvie Inc.

13.2. Abbott Laboratories Inc.

13.3. Allergan Plc

13.4. Apitope Technology Ltd.

13.5. AstraZeneca Plc

13.6. Bristol-Myers Squibb Company

13.7. Eli Lilly and Company

13.8. Epivax, Inc

13.9. GlaxoSmithKline Plc

13.10.  Johnson & Johnson

13.11.  Macleods Pharmaceuticals Ltd.

13.12.   Merck & Co., Inc

13.13.  Mylan NV

13.14.  Novartis International Ag

13.15.   Pfizer Inc.

13.16.  Other Prominent Players

List of Tables

Table 1: Global Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 2: Global Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 3: Global Thyroid Eye Disease Market Size. By Region, By Value (USD Million), 2017-2027

Table 4: North America Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 5: North America Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 6: North America Thyroid Eye Disease Market Size (USD Million), By Country, By Value 2017-2027

Table 7: Europe Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 8: Europe Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 9: Europe Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027

Table 10: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 11: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 12: The Asia-Pacific Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027

Table 13: Latin America Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 14: Latin America Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 15: Latin America Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027

Table 16: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Diagnosis, By Value, 2017-2027

Table 17: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Treatment, By Value, 2017-2027

Table 18: The Middle East & Africa Thyroid Eye Disease Market Size (USD Million), By Country, By Value, 2017-2027

Table 19: List of Key Players and Their Offerings

Table 20 : Competitive Benchmarking, by Operating Parameters

Table 21 Pfizer Inc. Overview

Table 22 : Pfizer Inc. Financial Analysis (USD Million)

Table 23 : Abbott Laboratories Overview

Table 24 : Abbott Financial Analysis (USD Million)

Table 25: Eli Lilly and Company Overview

Table 26: Eli Lilly and Company Financial Analysis (USD Million)

Table 27 : Abbvie Inc. Overview

Table 28 : Abbvie Inc. Financial Analysis (USD Million)

Table 29: Horizon Therapeutic Plc Overview

Table 30: Horizon Therapeutic Plc Financial Analysis (USD Million)

Table 31: RLC Labs Inc. Overview

Table 32: Alcon Vision LLC Overview

Table 33: Alcon Vision LLC Financial Analysis (USD Million)

Table 34: Carl Zeiss Meditec AG Overview

Table 35: Carl Zeiss Meditec AG Financial Analysis (USD Million)

Table 36: Johnson & Johnson Vision Overview

Table 37: Johnson & Johnson Vision Financial Analysis (USD Million)

Table 38: Akron Pharmaceuticals Overview

Table 39: Kala Pharmaceuticals, Inc. Overview

Table 40: Kala Pharmaceuticals, Inc. Financial Analysis (USD Million)

Table 41: Santen Pharmaceutical Co., Ltd. Overview

Table 42: Santen Pharmaceutical Co., Ltd. Financial Analysis (USD Million)

Table 43: Merck & Co. Overview

Table 44 : Merck & Co. Financial Analysis (USD Million)

Table 45 : Optovue Overview

Table 46 : Fresnel Prism & Lens Co. Overview

List of Figures

Fig 1: Global Thyroid Eye Disease Market Segmentation

Fig 2 : Global Thyroid Eye Disease Market: Healthcare Industry Value Chain

Fig 3: Image of Algorithm for investigating a patient with suspected Graves’ hyperthyroidism

Fig 4: Porters Five Forces Analysis

Fig 5 : Global Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 6 : Global Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 7: Global Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 8: Global Thyroid Eye Disease Market Share (%), By Region, By Value, 2017-2027

Fig 9 : North America Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 10: North America Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 11: North America Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 12: North America Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027

Fig 13 : Europe Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 14: Europe Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 15: Europe Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 16: Europe Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027

Fig 17 : The Asia-Pacific Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 18: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 19: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 20: The Asia-Pacific Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027

Fig 21 : Latin America Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 22: Latin America Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 23: Latin America Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 24: Latin America Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027

Fig 25 : the Middle East & Africa Thyroid Eye Disease Market Size, By Value (USD Million), 2017-2027

Fig 26: the Middle East & Africa Thyroid Eye Disease Market Share (%), By Diagnosis, By Value, 2017-2027

Fig 27: the Middle East & Africa Thyroid Eye Disease Market Share (%), By Treatment, By Value, 2017-2027

Fig 28: The Middle East & Africa Thyroid Eye Disease Market Share (%), By Country, By Value, 2017-2027

Fig 29: Global Thyroid Eye Disease Market: Company Analysis, By Value, 2020