Parathyroid Disease Treatment Market: Introduction
- Parathyroid disease is characterized with abnormalities of serum calcium. Hyperparathyroidism, hypoparathyroidism, and parathyroid cancer are the three types of parathyroid disease. Primary hyperparathyroidism is a condition, in which too much parathyroid hormone is produced by the parathyroid gland. Parathyroid cancer is a rare disease often caused due to high level of parathyroid hormone. A study published in BMC Endocrine Disorder stated that parathyroid cancer is a rare endocrine malignancy primarily diagnosed in patients with primary hyperparathyroidism.
Key Drivers and Opportunities of Global Parathyroid Disease Treatment Market
- Rise in prevalence of parathyroid diseases is anticipated to boost the growth of the global parathyroid disease treatment market. An article published in PLOS, a study between 2003 and 2017, estimated that 13,897 admissions corresponding to 12,903 patients registered with parathyroid gland disorder were reported in Spain. According to Informa UK Limited, primary hyperparathyroidism (pHPT) is the third most common endocrine disorder.
- Parathyroid problems are more common in younger adults (30 to 40 years) and older people. Hence, increase in the geriatric population is likely fuel the growth of the global market. According to an article published in journal of the Endocrine Society, a retrospective survey was conducted during January 1997 to June 2018, which estimated that 462 patients were diagnosed with primary hyperparathyroidism and 212 of them were aged above 65.
- Focus on research & development by key players is anticipated to drive the global parathyroid disease treatment market. In June 2017, Amgen, Inc. received positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for Marketing Authorization of a pediatric formulation, Mimpara (cinacalcet), for children aged three years and older with secondary hyperparathyroidism (HPT).
- However, product recall by the Food and Drug Administration is likely hamper the growth of the global parathyroid disease treatment market. For instance, in September 2019, the Takeda Pharmaceutical Company Limited issued the U.S. recall of NATPARA.
- Increase in awareness about advanced therapeutics owing to rise in prevalence of parathyroid diseases in developing countries presents lucrative opportunities in the global market. Moreover, governments in developing countries are making significant investments toward modernization of health care infrastructure, which is likely to increase access to health care. This is expected to drive demand for advanced technologies.
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North America to Capture Major Share of Global Parathyroid Disease Treatment Market
- North America is likely to account for major share of the global parathyroid disease treatment market during the forecast period due to high prevalence of parathyroid diseases. Additionally, well-established health care infrastructure in developed countries is projected to boost the growth of the market in the region.
- The parathyroid disease treatment market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to rise in awareness and surge in geriatric population. An article published in the Indian Journal of Endocrine Metabolism stated that the incidence of asymptomatic primary hyperparathyroidism has been rising in the West, including India.
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Key Players Operating in Global Parathyroid Disease Treatment Market
The global parathyroid disease treatment market is highly consolidated due to the presence of small number of key players. Demand for parathyroid treatment products has increased in emerging as well as developed markets owing to rise in prevalence of parathyroid gland disorder. Growth strategies adopted by leading players are likely to drive the global market.
Major players operating in the global parathyroid disease treatment market are:
- Amgen Inc.
- Novartis AG
Global Parathyroid Disease Treatment Market: Research Scope
Global Parathyroid Disease Treatment Market, by Treatment
- Minimally Invasive Parathyroidectomy
- Standard Neck Exploration
- Hormone Replacement Therapy
Global Parathyroid Disease Treatment Market, by Application
- Parathyroid Cancer
Global Parathyroid Disease Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.