The global Graves Ophthalmopathy Market, also known as Graves orbitopathy, exhibited significant strength in 2021 and is projected to experience a rapid revenue compound annual growth rate (CAGR) throughout the forecast period. The growth in revenue within the Graves ophthalmopathy treatment market is primarily attributed to the increasing prevalence of autoimmune diseases, along with factors such as research and development (R&D) activities in the field of ophthalmology and a growing number of clinical trials for the treatment of autoimmune disorders. However, the limited number of FDA-approved drugs for the treatment of Graves ophthalmopathy hinders the revenue growth of the market.
Graves ophthalmopathy is an autoimmune condition that affects the tissues around the eyes, and in severe cases, it can pose a threat to vision. Therefore, prompt examination, referral, and management are crucial.
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Factors Supporting Revenue Growth
Drivers: The revenue growth of the Graves ophthalmopathy market is driven by several factors. First, Graves ophthalmopathy can affect people of various ages, and with the global population increasing, there is a greater number of individuals at risk, contributing to market growth. Studies suggest that up to 25 to 50 percent of people with Graves' disease also experience Graves' orbitopathy. The prevalence of clinically evident Graves orbitopathy is estimated to be 2.9 cases per 100,000 men and 16 cases per 100,000 women. Furthermore, the awareness among patients regarding the condition has been increasing, which also contributes to the growth of the market. Severe forms of Graves' ophthalmopathy, characterized by intense pain, inflammation, and potential complications like corneal ulceration or compressive optic neuropathy, affect approximately 3 to 5% of patients. Additionally, the rising prevalence of thyroid-related diseases worldwide has a positive impact on the Graves ophthalmopathy treatment market.
Restraints: There are certain factors that impede the revenue growth of the Graves ophthalmopathy treatment market. Graves orbitopathy can exhibit various progressions, with some individuals experiencing constant moderate orbitopathy over time, while others may see either worsening or improvement of the condition. According to a study, an average of 2.5% of patients developed moderate-to-severe orbitopathy over 18 months, and 58% of those with moderate illness experienced complete remission. Moreover, the market expansion is limited by the scarcity of qualified specialists and the high costs associated with treatment. Surgical procedures such as Orbital decompression surgery are available as a treatment option for Graves ophthalmopathy, in addition to medication therapy, which further hampers the revenue growth. Furthermore, long-term use of anti-inflammatory drugs, specifically corticosteroids, is associated with serious adverse effects like osteoporosis and thinning of the skin, which may limit the market's revenue growth.
Opportunities: Expanding R&D activities in the field of ophthalmology have led to significant advancements in the market. Numerous clinical trials focusing on the treatment of eye inflammation, including the use of insulin and growth factors, contribute to the revenue growth of the treatment market. The increasing demand for effective and shorter treatment options presents an opportunity for innovative solutions. Educating patients about the disease process, the importance of therapy, and the need for follow-up compliance is crucial. Patients should be informed about the potential risks, which can include complete loss of eyesight. Implementing strict return precautions when patients exhibit alarming signs and symptoms, such as worsening discomfort, blurred vision, floaters, or photophobia, is necessary. As a result, extensive research investigations have been conducted to address the challenges and complications associated with Graves ophthalmopathy.
Geographic Market Scenario:
Largest Market Share: North America is expected to hold the largest revenue share in the Graves ophthalmopathy market during the forecast period. The region's dominance is primarily attributed to the increasing incidence of infectious diseases, which has a significant impact on market growth. Furthermore, ongoing research on viral diseases in the region and the growing healthcare infrastructure contribute to its position as the largest market. Additionally, the emphasis on hygiene and awareness of cleanliness during the COVID-19 pandemic has driven the demand for immunity-boosting medications like antibiotics, further driving the revenue growth of the Graves ophthalmopathy market in North America.
Fastest Growing Region: Asia Pacific is projected to exhibit a significant revenue CAGR during the forecast period. Countries such as China and India are experiencing a considerable increase in the geriatric population, which contributes to the market growth. Moreover, the presence of generic manufacturers and the expansion of healthcare facilities in the region also drive revenue growth.
Key Market Trends and Innovation: Several key trends and innovations are shaping the Graves ophthalmopathy market. For instance, a multicenter, Phase 2a, open-label study was conducted from April 2019 to May 2022 to evaluate the use of RVT-1401 in treating patients with mild to severe active Graves ophthalmopathy. Another clinical trial since June 2017 has been investigating the effect of administering 4.5 grams of methylprednisolone once weekly for 12 weeks on bone metabolism in Graves ophthalmopathy.
Competitive Landscape: Organic and inorganic strategies have been adopted by companies operating in the Graves ophthalmopathy market. In January 2020, Tepezza (teprotumumab-trbw) received approval from the U.S. Food and Drug Administration (FDA) for the treatment of thyroid eye disease in adults, making it the first authorized medication for this condition. Major companies in the market include Kala Pharmaceuticals Inc., Novartis AG, AbbVie, Allergan, Bausch & Lomb, Teva Pharmaceuticals, Inc., Pharmos Corp., Eyevance Pharmaceuticals LLC, Pfizer Inc., and Horizon Therapeutics plc.
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End-Use Outlook (Revenue, USD Billion; 2019-2030):
- Hospitals
- Specialty clinics
- Doctors
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030):
- Online
- Offline
Route of Administration Outlook (Revenue, USD Billion; 2019-2030):
- Oral
- Parenteral
Treatment Outlook (Revenue, USD Billion; 2019-2030):
- Corticosteroids
- Immunomodulators
- Insulin-like growth factor-1
Regional Outlook (Revenue, USD Billion; 2019-2030):
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East & Africa
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