A rare endocrine condition called hypoparathyroidism frequently causes high calcium and phosphate levels, which in turn cause the parathyroid hormone (PTH) to be produced at low or abnormal levels. The market for treating hypoparathyroidism is predicted to reach US$ 717.7 million in 2021 and show a promising CAGR of around 8% through the end of the forecast period in 2031, according to a recent research report by Future Market Insights (FMI).
The majority of neck surgeries result in hypothyroidism. It is connected to unintentional parathyroid gland damage. The high prevalence of these operations is anticipated to increase demand for treatments for hypoparathyroidism. For instance, up to 115,000 Americans have been given the diagnosis of chronic hypoparathyroidism. Up to 75% of hypoparathyroidism cases can be attributed to anterior neck surgery, which is the primary cause of the condition. 25% of cases are either non-surgical or, in extremely rare circumstances, related 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.
Hypoparathyroidism Treatment Market
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.
Product Approvals, and Expansion Strategies Gain the Focus of Drug Manufacturers
Prominent players in the hypoparathyroidism treatment market are focusing on receiving approvals and grants for the development of new drugs to cater to the growing cases of hypoparathyroidism, thus, enhancing their market presence. For instance,
In October 2020, Ascendis’s TransCon PTH was designated as orphan drug by the European commission (EC), which is approved for use to treat hypoparathyroidism in Europe.In July 2020, ProLynx, received a Small Business Innovation Research (SIBR) grant from NIH to help fasten the development PTH (1, 34), a long acting parathyroid hormone that can be in a week to patients suffering from hypoparathyroidism.
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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Information Source:
https://www.futuremarketinsights.com/reports/hypoparathyroidism-treatment-market