The Hyperparathyroidism Market is expected to grow at a CAGR of 7.1% to reach USD 486.7 million by 2028. The global hyperparathyroidism market is witnessing a significant shift towards inorganic growth strategies among key players. This trend is marked by strategic collaborations, licensing deals, and acquisitions, which are instrumental in broadening market presence and enhancing product offerings. An illustrative instance of this trend is the recent agreement between EA Pharma Co., Ltd. and Pathalys Pharma, Inc. In March 2022, EA Pharma granted Pathalys Pharma a worldwide exclusive license to develop and commercialize a therapy for secondary hyperparathyroidism in hemodialysis patients, excluding Japan, Korea, China, Taiwan, and the ASEAN countries. This strategic move underscores a focused approach to market segmentation and regional expansion.
North America dominates the regional market because of The North American hyperparathyroidism market, with a particular focus on the US, exhibits considerable healthcare expenditure and a notable prevalence of this endocrine disorder. In 2023, US healthcare spending reached an impressive USD4.8 trillion, marking a 7.5% increase from the previous year. This growth surpassed the projected annual GDP growth rate of 6.1%, signifying substantial investments in healthcare services and infrastructure. Hyperparathyroidism, characterized by the overproduction of parathyroid hormone by the parathyroid gland, affects a significant number of Americans, particularly women and older adults. This demographic trend necessitates targeted healthcare strategies to effectively manage calcium absorption, phosphorus levels, and overall disease progression. The high prevalence of hyperparathyroidism in these groups underscores the importance of specialized treatment plans and increased awareness to optimally address this condition.
There are various factors that drive the Hyperparathyroidism Market market which are as following: The global hyperparathyroidism market is experiencing robust expansion, fueled by heightened public awareness of thyroid health initiatives. Notably, May 25 is recognized as World Thyroid Day, an annual observance promoting education and awareness about thyroid conditions. This day features presentations, seminars, and other activities organized by health organizations, medical professionals, and clinics to inform the public about thyroid diseases, their causes, and treatment options. Furthermore, January is designated as Thyroid Awareness Month, amplifying global efforts to increase understanding of thyroid diseases and their impact on overall health.
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Hyperparathyroidism Market Segmentation
The market witnesses several challenges, which are as follows The European Medicines Agency (EMA) plays a pivotal role in the regulatory landscape of the global hyperparathyroidism market, enforcing stringent quality and efficacy standards for new treatments. In April 2020, Cinacalcet Accordpharma, a drug used to treat hyperparathyroidism, underwent rigorous evaluation by the EMA. The Agency concluded that it met the EU's demanding requirements, demonstrating comparable quality and bioequivalence to the established drug Mimpara. This decision underscores the EMA's commitment to ensuring patient safety and therapeutic effectiveness by upholding the highest regulatory standards.
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Some of the key companies that have been profiled in the report include:
The hyperparathyroidism market falls under the broader pharmaceuticals sector, encompassing entities involved in the research and development (R&D) or manufacturing of various types of drugs, including generics, non-generics, and veterinary medications. According to Technavio, the global pharmaceuticals market's size is determined by the consolidated revenue generated by providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving the growth of this market include the increasing elderly population, with predictions that by 2050, approximately one-quarter of the US population and Europe's population by 2030 will be over 60 years old. This demographic shift will lead to a higher prevalence of hyperparathyroidism, a condition characterized by hypercalcemia (elevated calcium levels) and hyperphosphatemia (elevated phosphate levels), and its associated symptoms, such as fatigue, bone pain, kidney stones, and gastrointestinal issues. The condition is typically caused by overactive parathyroid glands, which can be diagnosed through various tests, including serum calcium and phosphate measurements, bone densitometry, and ultrasound imaging. The market's growth will be further fueled by the development of new treatments and therapies for hyperparathyroidism, including surgical procedures, medications, and alternative treatments. - The Hyperparathyroidism Market is experiencing significant growth, fueled by the Rise in thyroid treatment awareness programs. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Primary, secondary, and tertiary hyperparathyroidism are conditions characterized by excessive production of parathyroid hormone, leading to hypercalcemia or high calcium levels in the blood. Causes include adenomas, hyperplasia, or cancer of the parathyroid glands. Symptoms include joint pain, muscle weakness, fatigue, depression, kidney disease, osteoporosis, and kidney stones. Diagnosis involves blood tests, parathyroid scan, and possibly surgery. Management includes calcimimetics, phosphate supplements, and parathyroidectomy for severe cases. Prevention includes early detection and treatment of underlying causes. The outlook and prognosis depend on the severity and timely intervention. Other symptoms may include symptoms of hypercalcemia such as kidney disease, osteoporosis, and kidney stones. Causes of secondary and tertiary hyperparathyroidism include low phosphate levels, vitamin D deficiency, and chronic kidney disease.
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