Parathyroid Disease Treatment Market: Introduction
Parathyroid disease is characterized with abnormalities of serum calcium. Hyperparathyroidism, hypoparathyroidism, and parathyroid cancer are the three types of parathyroid disease. Primary hyperparathyroidism is a condition, in which too much parathyroid hormone is produced by the parathyroid gland. Parathyroid cancer is a rare disease often caused due to high level of parathyroid hormone. A study published in BMC Endocrine Disorder stated that parathyroid cancer is a rare endocrine malignancy primarily diagnosed in patients with primary hyperparathyroidism.
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Key Drivers and Opportunities of Global Parathyroid Disease Treatment Market
- Rise in prevalence of parathyroid diseases is anticipated to boost the growth of the global parathyroid disease treatment market. An article published in PLOS, a study between 2003 and 2017, estimated that 13,897 admissions corresponding to 12,903 patients registered with parathyroid gland disorder were reported in Spain. According to Informa UK Limited, primary hyperparathyroidism (pHPT) is the third most common endocrine disorder.
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- Parathyroid problems are more common in younger adults (30 to 40 years) and older people. Hence, increase in the geriatric population is likely fuel the growth of the global market. According to an article published in journal of the Endocrine Society, a retrospective survey was conducted during January 1997 to June 2018, which estimated that 462 patients were diagnosed with primary hyperparathyroidism and 212 of them were aged above 65.
- Focus on research & development by key players is anticipated to drive the global parathyroid disease treatment market. In June 2017, Amgen, Inc. received positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for Marketing Authorization of a pediatric formulation, Mimpara (cinacalcet), for children aged three years and older with secondary hyperparathyroidism (HPT).
- However, product recall by the Food and Drug Administration is likely hamper the growth of the global parathyroid disease treatment market. For instance, in September 2019, the Takeda Pharmaceutical Company Limited issued the U.S. recall of NATPARA.
- Increase in awareness about advanced therapeutics owing to rise in prevalence of parathyroid diseases in developing countries presents lucrative opportunities in the global market. Moreover, governments in developing countries are making significant investments toward modernization of health care infrastructure, which is likely to increase access to health care. This is expected to drive demand for advanced technologies.
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North America to Capture Major Share of Global Parathyroid Disease Treatment Market
- North America is likely to account for major share of the global parathyroid disease treatment market during the forecast period due to high prevalence of parathyroid diseases. Additionally, well-established health care infrastructure in developed countries is projected to boost the growth of the market in the region.
- The parathyroid disease treatment market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to rise in awareness and surge in geriatric population. An article published in the Indian Journal of Endocrine Metabolism stated that the incidence of asymptomatic primary hyperparathyroidism has been rising in the West, including India.
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Key Players Operating in Global Parathyroid Disease Treatment Market
The global parathyroid disease treatment market is highly consolidated due to the presence of small number of key players. Demand for parathyroid treatment products has increased in emerging as well as developed markets owing to rise in prevalence of parathyroid gland disorder. Growth strategies adopted by leading players are likely to drive the global market.
Major players operating in the global parathyroid disease treatment market are:
- Amgen Inc.
- Novartis AG
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