Parathyroid Hormone Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Parathyroid Hormone Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The parathyroid hormone market size has grown steadily in recent years. It will grow from $2.35 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The growth in the historic period can be attributed to rising prevalence of chronic kidney disease, increasing awareness of parathyroid hormone-related disorders, growing demand for parathyroid hormone analogs, increased government funding for parathyroid hormone research, rising disposable incomes.

The parathyroid hormone market size is expected to see steadily grown in the next few years. It will grow to $3.5 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growing geriatric population, expansion of private healthcare sectors, emerging indications, precision medicine, growing awareness of bone health, expanding healthcare access. Major trends in the forecast period include advances in parathyroid hormone testing, advances in drug delivery, combination therapies, digital health integration, sustainability and green initiatives.

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Market Drivers and Trends:

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, which further leads to an increased risk of fracture. According to the International Osteoporosis Foundation, osteoporosis affects approximately 1.4 million Canadians, mainly postmenopausal women and the elderly. The parathyroid hormone, which is naturally produced by the body for regulating 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 osteoporosis is therefore expected to contribute to the growth of the parathyroid hormone market.

Companies in the parathyroid hormone market are focusing on developing biosimilars 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 healthcare costs without compromising on treatment standards, which is why parathyroid hormone manufacturing companies are investing in them. For instance, in January 2021, Theramex a UK-based pharmaceutical company launched Livogiva. Teriparatide, the only bone anabolic medication for osteoporosis, is now available in a novel form called Livogiva, a pre-filled pen that makes it simple for patients who are at high risk of osteoporosis to take. Livogiva is recommended for postmenopausal women with osteoporosis who are at higher risk of fracture .

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Major Key Players of the Market:

Pfizer Inc.; Eli Lilly and Company; Radius Health Inc.; Shire plc; Ascendis Pharma; Entera Bio Ltd.; Extend Biosciences Inc.; Gedeon Richter Plc.; Abbott Laboratories; Amgen Inc.; Merck & Co. Inc.; Novartis AG; F. Hoffmann-La Roche AG; Teva Pharmaceutical Industries Ltd.; Alcon Laboratories Inc.; Bayer Healthcare; Becton Dickinson and Company; Ethicon Inc.; Genentech Inc.; Medtronic Inc.; Mylan Laboratories; Novo Nordisk; Smith & Nephew plc; Stryker Corporation; Zimmer Biomet Holdings Inc.

Parathyroid Hormone Market 2024 Key Insights:

• The parathyroid hormone market size will grow to $3.5 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Elevated Prevalence Of Osteoporosis Sparks Growth In The Parathyroid Hormone Market
• Biosimilar Development In The Parathyroid Hormone Market Is Enhancing Affordability And Treatment Standards
• North America was the largest region in the parathyroid hormone market in 2023

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