The global Exophthalmos Treatment Market is expected to be worth USD 271.8 Million in the fiscal year 2023, which rose up from USD 251.2 Million in the fiscal year 2022. From 2023 to 2033, the global market is expected to grow at a steady 8.2% CAGR, reaching a value of USD 598 Million by the end of 2033.
Exophthalmos is the term used to describe a condition in which the eyeball bulges outward from the eye socket. Both eyes may be affected or just one. Exophthalmos can result in eye issues such as corneal dryness as well as conjunctivitis, an infection of the interior membrane lining of the eye, depending on how bad it is. In the long run, symptoms usually get better, although it may take years. If therapy is not obtained, it's possible that the eyes will continue to bulge.
Exophthalmos is most often caused by Graves' disease. Around 25 to 50 percent of those who have this illness will also have ocular involvement. It's interesting to note that ocular involvement might happen up to 20 years after a thyroid disorder diagnosis as well as up to 10 years before. Such diseases have been a major driver for exophthalmos treatment from 2023 to 2033.
Along with these causes of the disease, increased research, and development to invent novel drugs for the treatment of exophthalmos disease have been accelerating revenues in the market. The various key players are aimed at developing enhanced medicines and cures, which is also opening up new opportunities for various companies in the global exophthalmos market.
| Attributes | Details |
|---|---|
| Anticipated Base Year Value (2022) | USD 251.2 Million |
| Expected Market Value (2023) | USD 271.8 Million |
| Projected Forecast Value (2033) | USD 598 Million |
| Global Growth Rate (2023 to 2033) | 8.2% |
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The global Exophthalmos Treatment Market grew at a CAGR of 6.4% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
This market is expanding since occurrences of hyperthyroidism and its comorbidities are becoming more common. In addition to the thyroid, exophthalmos can also be brought on by other reasons, such as internal bleeding from an injury in the eye socket.
The introduction of new administration methods that increase therapeutic effectiveness may accelerate market expansion. The industry is growing because researchers are receiving significant financial assistance for creating innovative interventions. As a result, the global Exophthalmos Treatment Market is expected to forecast a CAGR of over 8% from 2023 to 2033.
Rising cases of hyperthyroidism are triggering the market expansion
Exophthalmos is mostly brought on by Graves' ophthalmopathy, sometimes referred to as thyroid eye illness. One in three patients with an overactive thyroid is affected by this condition. Smokers as well as middle-aged women are the most likely to experience it.
Around 200 million individuals worldwide suffer from thyroid disorders, primarily hyperthyroidism; in the majority of these nations, 50% of the population goes misdiagnosed. The elderly and women are more likely to suffer from this illness. According to data from the Thyroid Foundation of Canada from 2021, congenital hypothyroidism affects 1 across every 1600 children in Canada. As a result, the market has additional opportunities.
Additionally, a shortage of skilled experts with an understanding of thyroid disease treatment options might support the expansion of the global exophthalmos market over the next few years.
Novel treatment and medicine options to accelerate the growth
It is also anticipated that the introduction of innovative methods of administration that improve the medications' efficacy would restrain the market's expansion for exophthalmos therapy. Additionally, in the upcoming years, there may be more prospects for the expansion of the exophthalmos therapy market due to advancements in antibiotics, nutrition, and innovative treatments.
For instance, Tepezza was authorized by the US Food and Drug Administration (FDA) in 2020 for the treatment of people with exophthalmos. It was the first medication to be authorized for the treatment of exophthalmos. Tepezza has been designated as an orphan medicine, which offers incentives to help and promote the development of medications for uncommon illnesses or ailments. The FDA Orphan Medicines Money Program, which offers grants for clinical investigations on the safety and efficacy of products for use in uncommon illnesses or disorders, also contributed to the development of this medication. As a result, it is anticipated that further research and development will be opening up new avenues for the market players during the forecast period.
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Increasing government initiatives and awareness programs impede the global market
As hyperthyroidism is considered to be the primary cause of exophthalmos disease, various governments across nations have been working towards cutting down the incidence of thyroid cases globally. In such a case, with lowering thyroid cases, the cases for exophthalmos will go down as well, hence restraining the market growth during the forecast period.
Collaboration agreements between public and commercial entities have increased, which helps to educate healthcare professionals about thyroid treatment. The American Academy of Otolaryngology, British Thyroid Foundation, American Thyroid Association (ATA), and Thyroid Foundation of Canada are just a few of the government groups that are actively raising awareness of the condition and its available treatments. These kinds of steps are expected to hinder market expansion from 2023 to 2033.
Rising incidence of thyroid cases along with novel drugs development will boost the growth
During the forecast period, the North American market for exophthalmos disease is expected to be the most volatile one. As per Future Market Insights, this region is expected to prolifer with a robust CAGR of 8.7% from 2023 to 2033.
North America is anticipated to lead the market due to important factors such as the rising incidence of different thyroid illnesses in the USA as well as the development of novel treatment options. Around 18 in 100,000 Americans have exophthalmos disease, as per data from the American Academy of Ophthalmology that was released in July 2022. As a result, the expansion of the market under investigation in the area will be aided by the exophthalmos disease's prevalence in the USA.
The market for exophthalmos illness is expanding as a result of notable product releases, a high proportion of market participants, and the presence of companies in the US. For example, in January 2020, Horizon Therapeutics PLC reported that the Food and Drug Administration approved TEPEZZA to treat exophthalmos disease. Hence, during the forecast period, the North American region can be expected to show a significant growth rate, acquiring a global market share of 39% in the year 2023.
Increasing cases of Grave’s disease along with thyroid cases accelerate the growth
During the forecast period, the Asia Pacific market for Exophthalmos Treatment is expected to garner a steady CAGR of 7.1%.
Countries like China and India were reported to have most of the exophthalmos cases in the Asia Pacific region. For instance, in India, one of the most prevalent endocrine conditions affecting roughly 42 million Indians is thyroid disease. And about 31% of these people eventually start to experience exophthalmos disease symptoms. Hence, factors such as these are expected to accelerate the growth in the regional market from 2023 to 2033.
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The non-surgical segment will gain the dominant market share
Over the course of the forecast period, the non-surgical segment by treatment type is anticipated to occupy a significant share of the global exophthalmos treatment market. In 2023, this category is anticipated to dominate with a 53% revenue share.
Whenever the patients start experiencing the symptoms of bulging out of the eyes, immediately they reach out to the ophthalmologist, who mostly prescribes certain eye drops and antibiotics. With the advancements in medications, there are now certain eye drops that have steroids as well to immediately bring the eyeball back to normal size. Hence, in such a scenario, no surgery is required. Such factors are expected to accelerate the growth prospects for exophthalmos treatment from 2023 to 2033.
The specialty clinics segment will demand during the forecast period.
According to the research by Future Market Insights, the specialty clinic segments will gain traction during the forecast period. It is anticipated that this segment will occupy a global market share of 25% from 2023 to 2033.
During a case of exophthalmos, patients prefer visiting an eye clinic, rather than a hospital. These specialty clinics offer patients a wide range of treatment options as well as doctors. At the same time, treatment over here is quite affordable when compared to that of a hospital. Hence, during the forecast period, this segment is expected to acquire more than half of the global exophthalmos market in 2023.
The newly founded businesses in this sector aim to use a number of techniques, such as the launch of new products and acquisitions, to improve their market positions internationally.
Some of the prominent players in the global market for Exophthalmos Treatment are:
Some of the prominent developments of the key players in the market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.2% from 2023 to 2033 |
| Market value in 2023 | USD 271.8 Million |
| Market value in 2033 | USD 598 Million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD Million for Value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Treatment, End-user, Region |
| Regions Covered | North America; Latin America; Asia Pacific; Europe; Middle East & Africa |
| Key Countries Profiled | United States of America, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, Poland, Russia, China, India, ASIAN, Australia, New Zealand, Japan, GCC Countries, S. Africa, Northern Africa |
| Key Companies Profiled | Spectra Vision Care; AbbVie; Alcon; Avik Pharma; Anuh Pharma Ltd.; Pfizer CentreOne; Pipelinepharma; Mylan N.V.; Manus Aktteva Biopharma LLP; Roche; Eyevance Pharmaceuticals; Sling Therapeutics |
| Customisation Scope | Available on Request |
The market is slated to attain USD 271.8 million in 2023.
The market is expected to expand at a CAGR of 8.2% through 2033.
Novel treatment and medicine options are catapulting the market growth.
Increasing steps to lower the emergence of exophthalmos through government programs is expected to cause hinderance for market.
North America is expected to expand at a CAGR of 8.7%.
1. Executive Summary | Exophthalmos Treatment Market 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 5.1. Non-surgical Treatment 5.1.1. Sympathomimetic Amines 5.1.2. Corticosteroids 5.1.3. Secondary Metabolites 5.1.4. Monoclonal Antibodies 5.1.5. Radiotherapy 5.2. Surgical Treatment 5.2.1. Orbital Decompression 5.2.2. Eye Muscle Surgery 5.2.3. Eyelid Surgery 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Users 6.1. Hospitals 6.2. Specialty Clinics 6.3. Others 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa (MEA) 8. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Spectra Vision Care 15.2. AbbVie 15.3. Alcon 15.4. Avik Pharma 15.5. Anuh Pharma Ltd. 15.6. Pfizer CentreOne 15.7. Pipelinepharma 15.8. Mylan N.V. 15.9. Manus Aktteva Biopharma LLP 15.10. Roche 16. Assumptions & Acronyms Used 17. Research Methodology
Healthcare
June 2023
REP-GB-12575
220 pages
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Exophthalmos Treatment Market
