Hypoparathyroidism Treatment Market Competitive Insights and Precise Outlook through 2031 | FMI
A rare endocrine condition called hypoparathyroidism frequently causes high calcium and phosphate levels, which in turn cause the parathyroid hormone (PTH) to be produced at low or abnormal levels. The Hypoparathyroidism Treatment Market is anticipated to reach a market value of US$ 717.7 million in 2021 and is predicted to grow at a promising CAGR of around 8% through the end of the forecast period in 2031, according to a recent research report by Future Market Insights (FMI).
To learn more about this report @ https://www.futuremarketinsights.com/reports/hypoparathyroidism-treatment-market
Hypothyroidism primarily arises from surgeries in the neck region. It is associated to accidental damage to the parathyroid gland. High prevalence of these surgeries is expected to boost the demand in the hypoparathyroidism treatment market. For instance, in the U.S., up to 115,000 people are diagnosed with the chronic hypoparathyroidism. The majority of the hypoparathyroidism cases are caused by anterior neck surgery, which accounts for up to 75% of the of all hypoparathyroidism cases. The remaining 25% cases are non-surgical or in very rare cases is linked to genetic disorders.
Furthermore, considering the rare occurrence of this medical condition, hypoparathyroidism has been designated as an orphan disease by the U.S. FDA and European Commission. This designation of orphan disease will help manufacturers to speed up their drug development processes, which leads to better availability of drugs for treatments of hypoparathyroidism.
However, the unprecedented nature of the COVID-19 pandemic has had a significant impact on the development of drugs for rare diseases including those associated with hypoparathyroidism. Preference now is being given to the development of life-savings drugs with greater focus on development of COVID-19 drugs and vaccines, thus halting or suspending existing clinical trials other than live saving drugs.
Also, this has led to the delay or postponement of enrolment of the new participants for clinical studies. Thus, the lack of sufficient data availability on the safety and effectiveness of treatments from clinical trials, will hurt short-term prospects. Clinical trials will gradually resume through 2021, and is anticipated to pick up pace during the forecast period.
Key Takeaways from Hypoparathyroidism Treatment Marker Study
Calcium supplements dominate the hypoparathyroidism treatment market growing 2x by 2031 owing to efficacy with hormonal therapy.
Parenteral route of administration is projected to grow at higher pace, driven by a rise in the number of clinical trials, and approval of new drugs which are influencing strong growth in this segment.
United States holds over 85% of the North America market for hypoparathyroidism treatments and will remain dominant owing to government incentives.
The U.K. will exhibit high demand, registering y-o-y growth at nearly 7% in 2021.
Germany and France will emerge as key markets within Europe.
China and India reflect high potential for growth on the back of a large subclinical patient pool for kidney disorders, diabetes, obesity, thyroid surgeries or head & neck surgery.
Growing cases of hypoparathyroidism and associated neck surgeries, coupled with an increase in patient awareness and screening, faster approvals and grants for product development, and favourable reimbursement scenarios, are major factors influencing market growth. Demand for biologics and the emergence of personalized medicine are some of the upcoming trends that are expected to generate significant growth opportunities for manufacturers operating in this space,” says the FMI Analyst
Some of the leading companies operating in the market are:
Takeda Pharmaceutical Company Limited.
Entera Bio Ltd.
Amgen Inc.
Ascendis Pharma A/S
F. Hoffmann-La Roche Ltd
ProLynx, Inc.
Extend Biosciences, Inc.
BionPharma Inc.
Hypoparathyroidism Treatment Market
By Product Type
Parathyroid Hormone
Natpara
Others
Vitamin D Analogue
Vitamin D2
Vitamin D3
Calcium Supplements
By Route of Administration
Oral
Parenteral
Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Sales