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Parathyroid Hormone Global Market Report 2020-30: COVID-19 Growth and Change

ReportLinker
·4-min read

Major players in the parathyroid hormone market are Pfizer Inc, Eli Lilly and Company, Radius Health Inc, Shire, Ascendis Pharma, Entera Bio Ltd. and Extend Biosciences, Inc. The global parathyroid hormone market is expected to decline from $1.

New York, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Parathyroid Hormone Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05998721/?utm_source=GNW
78 billion in 2019 to $1.70 billion in 2020 at a compound annual growth rate (CAGR) of -4.4%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.90 billion in 2023 at a CAGR of 3.9%.

The parathyroid hormone market consists of sales of parathyroid hormones and related services by entities (organizations, sole traders and partnerships) that develop parathyroid hormones to treat various diseases. Parathyroid hormone is responsible for regulating the distribution of phosphate and calcium in the body and is used in the treatment of diseases such as hypothyroidism and osteoporosis.

North America was the largest region in the parathyroid hormone market in 2019. Europe was the second-largest region in the parathyroid hormone market.

In January 2019, Takeda Pharmaceutical Company Limited, a Japan-based pharmaceutical company, announced its decision to acquire Shire Plc for $46 Billion. The acquisition is expected to accelerate the delivery of medicines to patients around the world with expanded scale and geographical footprint by Takeda Pharmaceutical Company. It also adds the rights of parathyroid hormone NATPARA. Shire Plc is a US-based pharmaceutical company focusing on innovative and rare disease drugs.

The parathyroid hormone market covered in this report is segmented by disease type into hypocalcaemia; hypoparathyroidism and by end-user into hospitals; clinics; others.

Product recalls due to quality control issues hinder the growth of the market. A product recall is a process of retrieving defective or potentially unsafe goods from consumers due to safety, efficacy and quality issues. In September 2019, Takeda Pharmaceutical Company issued a US recall for all doses of NATPARA® (parathyroid hormone) for Injection (25 mcg, 50 mcg, 75 mcg, and 100 mcg). The recall is due to a potential issue associated with rubber particulates arising from the rubber septum of the NATPARA cartridge. These factors are expected to negatively impact the growth of the market in the forecast period.

Companies in the parathyroid hormones market are focusing on developing a biosimilar of parathyroid-based drugs. A biosimilar is a biological product that is developed to be similar to an already FDA-approved biologic, known as the reference product. Biosimilars potentially offer consumers the opportunity to reduce their health care costs without compromising on treatment standards, thus parathyroid hormones manufacturing companies are investing in it. For instance, in August 2019, Gedeon Richter announced the launch of a biosimilar teriparatide called Terrosa® in Europe. In August 2020, Cadila Pharmaceuticals has launched a teriparatide biosimilar (NuPTH) meant for osteoporosis.

The rise in the prevalence of osteoporosis is expected to drive the market for parathyroid hormones. Osteoporosis is a disease characterized by low bone mass and deterioration of bone tissue that further leads to an increased risk of fracture. According to the International Osteoporosis Foundation, approximately 1.4 million Canadians are affected by osteoporosis. This mainly includes postmenopausal women and the elderly. The parathyroid hormone, which is naturally produced by the body for regulating the calcium levels, is used to reduce the risk of bone fracture in people with osteoporosis and is administered as a daily subcutaneous injection. The increase in the prevalence of osteoporosis is therefore expected to contribute to the growth of the parathyroid hormone market.
Read the full report: https://www.reportlinker.com/p05998721/?utm_source=GNW

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