Hyperparathyroidism refers to a condition caused by overproduction of parathyroid hormone (PTH) by the parathyroid glands leading to high blood calcium levels. Higher levels of PTH can cause fatigue, nausea, muscle and bone pain. The therapeutic options available for hyperparathyroidism include drugs such as calcimimetics and bisphosphonates that help manage calcium levels and reduce PTH secretion. Advances in minimally invasive radiofrequency ablation and parathyroidectomy surgery have also improved treatment outcomes and quality of life for patients.
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 Abbott Laboratories, Amgen Inc., Novartis AG, and Teva Pharmaceutical Industries.
The rising cases of primary hyperparathyroidism present significant opportunities for drugs and surgical therapies. According to the National Institutes of Health, about 1 in 1000 people globally suffer from primary hyperparathyroidism with women being three times more likely to be affected than men.
North America dominates the Hyperparathyroidism Treatment Market currently owing to high awareness levels and adoption of advanced treatments. However, Asia Pacific is anticipated to witness highest growth during the forecast period driven by growing geriatric population and healthcare investments.
Market Drivers
The increasing prevalence of hyperparathyroidism, mainly caused by dietary changes and growing prevalence of obesity, fuels the need for effective treatment options. The disease is often asymptomatic in initial stages which leads to delayed diagnosis and requires long term management. According to recent studies, the incidence of hyperparathyroidism has increased from 21 cases per 100,000 people annually in the 1980s to 86 cases per 100,000 currently. This rising prevalence is expected to drive the demand for hyperparathyroidism therapeutics during the forecast period.
PEST Analysis
Political: Regulations regarding pricing of drugs used for treatment of hyperparathyroidism conditions. Government policies related to drug approvals and insurance coverage.
Economic: Healthcare spending and insurance coverage affect demand for drugs managing hyperparathyroidism. Fluctuations in currency exchange rates impact drug imports and exports.
Social: Growing elderly population more prone to develop hyperparathyroidism. Awareness about early detection and management of the condition. Lifestyle diseases leading to secondary hyperparathyroidism.
Technological: Advancements in radioimmunoassay and related diagnostic techniques aid early detection. Development of minimally invasive surgery techniques reduce treatment burden. Computer-assisted surgery platform used for parathyroidectomy.
Geographical Regions with High Market Value
North America currently accounts for the largest share of the global Hyperparathyroidism Treatment Market in terms of value. This can be attributed to the growing prevalence of the disease due to obesity, vitamin D deficiency and rising geriatric population in the region. Easy availability of diagnostic tests and well-developed healthcare infrastructure also support market growth. Europe possesses the second largest market share due to public funding of healthcare systems and rigorous research activities in the field.
Fastest Growing Regional Market
The Hyperparathyroidism Treatment Market in Asia Pacific region is expected to exhibit fastest growth over the forecast period owing to rising incomes, improving accessibility to healthcare facilities and increasing awareness among population. Additionally, emergence of several multinational medical devices companies establishing manufacturing bases will positively impact market expansion. Growing cooperation between healthcare stakeholders in countries such as India, China and Japan would further fuel the market growth trajectory in Asia Pacific.
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