Hypoparathyroidism Treatment Market is projected to expand at a CAGR close to 8% through 2031
Hypoparathyroidism is a rare endocrine disorder, which often results in levels of calcium and high levels of phosphate, which in turn results in the production of low or abnormal parathyroid (PTH) levels. According to a recent research report by Future Market Insights (FMI), the hypoparathyroidism treatment market is estimated to reach a valuation of US$ 717.7 Mn in 2021, and is projected to display a promising CAGR of approximately 8% through the end of the forecast period in 2031.
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.
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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.
Key Participant Insights
Prominent players in the hypoparathyroidism treatment market is entering into the strategic agreements and collaborations at regional levels, with special focus on emerging economies. Major players are consolidating their positions through regional collaborations to strengthen their presence and increase their product reach in these countries.
Some of the leading market players covered by FMI in the hypoparathyroidism market include Takeda Pharmaceutical Company Limited., Entera Bio Ltd. Ascendis Pharma A/S, F. Hoffmann-La Roche Ltd, and BionPharma Inc.
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