The global healthcare landscape is witnessing significant developments in the management of thyroid eye disease (TED), an autoimmune condition that can cause inflammation, swelling, eye bulging, double vision, pain, and impaired vision. The expanding therapeutic landscape, increasing disease awareness, and advancements in targeted biologic treatments are creating new opportunities for pharmaceutical companies and healthcare investors. According to
DelveInsight’s latest thyroid eye disease market analysis, the market across the seven major markets (7MM) – the United States, EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan – is expected to experience substantial changes through 2034. The report examines epidemiological trends, treatment patterns, competitive dynamics, emerging therapies, and commercial opportunities shaping the future of TED management.
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Overview of Thyroid Eye Disease
Thyroid eye disease, also known as Graves’ orbitopathy, is an inflammatory disorder affecting the tissues surrounding the eyes. Although frequently associated with Graves’ disease, TED can develop independently of the severity of thyroid dysfunction. Its clinical manifestations range from eyelid retraction and redness to proptosis, diplopia, and, in severe cases, sight-threatening complications.
The disease generally progresses through an active inflammatory phase followed by an inactive phase characterized by residual tissue changes. Early recognition is important because timely intervention can help manage inflammation and reduce the risk of long-term complications. However, milder presentations can remain undiagnosed because symptoms may resemble other ophthalmic conditions.
DelveInsight’s report estimates that approximately 2.386 million people across the 7MM had prevalent TED cases in 2022. The United States represented the largest share, with approximately 1.012 million prevalent cases. These figures highlight the importance of improving diagnostic awareness, identifying eligible patients, and expanding access to effective treatment options.
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Diagnosis and Treatment Algorithm
The diagnosis of TED typically involves clinical assessment, evaluation of thyroid function, ophthalmic examinations, and, when necessary, orbital imaging. Clinicians assess disease activity, severity, ocular motility, proptosis, diplopia, and potential threats to vision to determine the appropriate management approach.
Treatment decisions depend on disease activity, severity, patient symptoms, and individual risk factors. Supportive measures, smoking cessation, ocular lubrication, and thyroid-function management remain important components of care. Patients with moderate-to-severe active disease may require systemic therapies, while selected patients with persistent structural abnormalities may benefit from rehabilitative surgery after the disease becomes inactive.
The European Group on Graves’ Orbitopathy (EUGOGO) 2021 guidelines recommend intravenous methylprednisolone combined with oral mycophenolate for appropriate patients with moderate-to-severe active disease. Other interventions may be considered according to clinical presentation and regional treatment guidelines. The increasing availability of targeted biologics is also changing the treatment landscape by offering options that directly address disease-related biological pathways.
Marketed Drugs and Treatment Landscape
TEPEZZA (teprotumumab), developed by Horizon Therapeutics and now associated with Amgen, received US FDA approval in January 2020 and became an important targeted treatment for TED. It inhibits the insulin-like growth factor-1 receptor (IGF-1R), a pathway implicated in the disease process. Its introduction expanded the treatment landscape beyond conventional approaches and helped increase awareness among healthcare professionals and patients.
A major development occurred on June 26, 2026, when the US FDA approved LUMVOA (veligrotug-vvze), developed by Viridian Therapeutics, for TED regardless of disease activity or duration. LUMVOA became the second FDA-approved treatment for the condition in the United States. Its approval was supported by the Phase III THRIVE and THRIVE-2 studies, which evaluated patients with active and chronic TED, respectively. The treatment is administered through five intravenous infusions at three-week intervals.
These developments are broadening treatment choices and increasing competition within the thyroid eye disease treatment market. Nevertheless, treatment selection continues to depend on clinical suitability, safety considerations, treatment burden, affordability, and access to specialist care.
Emerging Drugs and Pipeline Development
Research into new TED therapies remains important because patients can experience persistent symptoms, incomplete responses, or disease recurrence despite existing treatment. Pharmaceutical and biotechnology companies are investigating approaches designed to improve efficacy, tolerability, convenience, and long-term disease management.
Viridian Therapeutics is advancing elegrobart, also known as VRDN-003, a subcutaneous IGF-1R-targeting antibody designed to provide an alternative administration route. The company has reported progress in its Phase III REVEAL clinical development program, with the potential to improve treatment convenience if approved.
Other development programs have explored different immunological targets and mechanisms, including neonatal Fc receptor inhibition and alternative approaches to modulating inflammation. However, development status, regulatory timelines, and clinical outcomes can change, and investigational therapies should not be considered established treatment options until the relevant approvals are granted.
The evolving thyroid eye disease pipeline presents opportunities for companies to differentiate their products through clinical efficacy, dosing schedules, administration methods, and evidence across active and chronic disease. The commercial success of future therapies will also depend on demonstrating meaningful benefits over available treatments and establishing sustainable reimbursement pathways.
Epidemiology with Key Findings
DelveInsight evaluates historical and forecasted patient populations across the United States, EU4, the United Kingdom, and Japan. Its epidemiological assessment includes prevalent and diagnosed cases, gender-specific patient distribution, disease chronicity, severity, and moderate-to-severe acute cases receiving drug treatment.
The United States accounted for approximately 42% of the 7MM prevalent TED population in 2022, while Germany represented the largest share among the EU4 countries. The report also identifies differences in diagnosis and treatment patterns across geographies, reflecting variations in healthcare infrastructure, awareness, clinical practices, and access to specialist services.
These findings indicate that the commercial opportunity is influenced not only by the number of people living with TED but also by the proportion diagnosed, the severity of disease, and the number eligible for advanced therapies. Improved screening and greater awareness may help identify previously unrecognized patients, although actual treatment uptake will depend on clinical eligibility and access.
Market Outlook and Competitive Landscape
DelveInsight’s report estimated the total 7MM TED market at approximately USD 1.993 billion in 2022 and projects further expansion through 2034. The United States represented the largest market, accounting for approximately USD 1.980 billion in 2022. These are historical report estimates rather than current market valuations, and the commercial landscape has evolved following subsequent treatment developments.
The thyroid eye disease market size is influenced by the uptake of approved biologics, the introduction of new therapies, diagnostic improvements, and changing treatment guidelines. Competition is increasingly focused on clinical outcomes, infusion schedules, patient convenience, and evidence supporting treatment across different stages of the disease.
However, high treatment costs, reimbursement restrictions, adverse-event considerations, and unequal access to specialist services remain important barriers. Companies will need to demonstrate meaningful clinical value and develop effective market-access strategies to support broader adoption.
Market Access and Reimbursement
Access to advanced TED treatments varies across countries and healthcare systems. In the United States, coverage decisions, payer requirements, treatment-site arrangements, and patient assistance programs can influence whether eligible individuals receive biologic therapies. European markets and Japan have their own reimbursement frameworks, pricing requirements, and healthcare access considerations.
DelveInsight assesses these regional differences to help stakeholders understand the commercial implications of pricing, reimbursement, and treatment accessibility. The analysis can support pharmaceutical companies in evaluating market-entry strategies, forecasting product uptake, and identifying opportunities to address barriers to care.
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Drugs Uptake and Future Opportunities
The future uptake of TED therapies will depend on clinical differentiation, physician confidence, patient preferences, safety profiles, and reimbursement. Newly approved options may expand treatment choices, while future subcutaneous formulations and other investigational approaches could further influence administration preferences and healthcare resource utilization.
The thyroid eye disease market forecast through 2034 provides stakeholders with a framework for evaluating the potential impact of epidemiological changes, treatment adoption, and pipeline developments. DelveInsight’s assessment also considers patient journeys, expert insights, SWOT analysis, unmet medical needs, and competitive positioning to help stakeholders understand evolving market dynamics.
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Conclusion
The thyroid eye disease treatment landscape is evolving as targeted therapies expand the available options for patients with active and chronic disease. Continued improvements in diagnosis, clinical research, and access to treatment could create further opportunities for innovation and commercial growth. DelveInsight’s report offers an in-depth assessment of the epidemiology, competitive environment, treatment patterns, and market outlook through 2034, helping stakeholders evaluate the opportunities and challenges shaping this evolving therapeutic area.
About DelveInsight
DelveInsight is a leading Healthcare Business Consultant and Market Research firm focused exclusively on life sciences. It supports pharmaceutical companies by providing comprehensive end-to-end solutions to improve their performance. It also offers healthcare consulting services that leverage market analysis to accelerate business growth and overcome challenges with practical approaches.
Media contact
Name: Abhishek kumar
E-mail: abhishek@delveinsight.com
