Hyperparathyroidism is a condition in which the parathyroid glands produce excessive amounts of parathyroid hormone (PTH), leading to high calcium levels in the blood. Hyperparathyroidism treatment includes drugs such as bisphosphonates and calcimimetics that help lower blood calcium levels. Surgery involving removal of all or part of the parathyroid glands is also commonly used to treat hyperparathyroidism.
The global Hyperparathyroidism Treatment Market is driven by the increasing prevalence of primary hyperparathyroidism, which accounts for over 95% of hyperparathyroidism cases. The condition is more common in women above 60 years of age. According to statistics, 1 in 1000 Americans is affected by primary hyperparathyroidism.
The Global Hyperparathyroidism Treatment Market is estimated to be valued at USD 780.1 Mn in 2024 and is expected to reach USD 991.2 Mn by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031
Key Takeaways
Key players operating in the hyperparathyroidism treatment market are AbbVie, Entera Bio, GlaxoSmithKline, Takeda Pharmaceutical, and Sanofi.
The increasing research into development of novel treatment alternatives for hyperparathyroidism presents significant growth opportunities for players in this market. Calcimimetics such as cinacalcet offer improved treatment efficacy and reduced side effects compared to traditional therapies.
Geographic expansion into emerging markets of Latin America, Asia Pacific and Middle East & Africa will help key players tap into unmet medical needs and facilitate wider access to innovative hyperparathyroidism drugs.
Market Drivers
A major driver for the hyperparathyroidism treatment market is the rising geriatric population worldwide which is prone to develop primary hyperparathyroidism. As per estimates, around 1 million Americans aged 60 years and older have the condition. With increase in lifespan, the prevalence of age-related hyperparathyroidism is projected to grow substantially in the coming years. This will correspondingly increase demand for drugs and surgical procedures used for hyperparathyroidism treatment.
PEST ANALYSIS
Political: The regulations around drug approvals and pricing directly impact the hyperparathyroidism treatment market. Strict norms can delay new drug entries while pricing controls affect revenue levels.
Economic: The global economic conditions influence healthcare expenditures of nations. Recessions may lead to budget cuts impacting this market. Individual spending power also Co-relation with market growth.
Social: Rise in sedentary lifestyle and junk food consumption has increased cases of hyperparathyroidism. Growing health awareness drives demand for effective treatments.
Technological: Advancements in drug R&D has resulted in safers innovative treatment options. Bioinformatics is helping gain insights into the disease at molecular level aiding development.
GEOGRAPHICAL CONCENTRATION
North America has the largest share of the hyperparathyroidism treatment market in terms of value owing to established healthcare systems and high adoption of advanced treatments. The United States alone accounts for over 40% of the global market value. Other major markets include Western European countries and Japan.
FASTEST GROWING REGION
The Asia Pacific region is poised to experience the fastest growth in the hyperparathyroidism treatment market driven by increasing healthcare investments, growing incidences due to changing lifestyles and rising disposable incomes. Countries like China and India with their large patient pools and enhancing access to care present lucrative opportunities. Improving awareness too supports market expansion.
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)