New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- The tumour-induced osteomalacia market was worth US$ 111.3 Million in 2021, by treatment, and the market is expected to expand at a CAGR of 2.8% over the forecast period (2022-2032). The diagnosis segment is expected to rise faster at a CAGR of 5% during the same period.
Oncogenic osteomalacia, which is sometimes referred to as tumour-induced osteomalacia (TIO), is a paraneoplastic condition brought on by tumours that release fibroblast growth factor 23 (FGF23). TIO is a clinical illness that is rare in general, making it difficult to determine its incidence and prevalence rates around the world. TIO indicates obstacles for professionals in nephrology, endocrinology, rheumatology, and orthopedics as a result of multiple nonspecific symptoms that cause the diagnosis to be frequently delayed for several years.
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Major market players are working hard to develop molecules in key therapeutic areas such as oncology, cardiology, thyroid, central nervous system, and orphan drugs. To meet the unmet need for such medications for rare diseases, market players are concentrating on developing sustainable, specialized novel chemical entities, thus enhancing technological expertise for new product development.
Manufacturers are developing and marketing specialized drug formulations despite the associated risks, since this niche therapeutic sector has little competition and offers substantial profit margins.
Key Takeaways from Market Study
- Drugs and supplements held around 82% market share by treatment in 2021.
- By diagnosis, bone scans held a market share of 80.5% in 2021.
- Hospitals accounted for a market share of 55% in the tumour-induced osteomalacia market in 2021.
- The U.S. held a market share of 66.4% in the global tumour-induced osteomalacia market in 2021.
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“Rising efforts to perform rare disease epidemiological studies and mapping prevalence to surge development of novel disease therapeutics are factors set to drive the growth of the tumour-induced osteomalacia market,” says an analyst of Persistence Market Research.
Market Competition
To maintain a competitive edge in the market, manufacturers in emerging countries are constantly investing in research & development operations to design, develop, and introduce new therapies and drug combinations, in addition to upgrading their product lines and expanding their geographical presence.
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- To increase its sales value in China, Lupin Limited (Lupin), a leading global pharmaceutical company, established cooperation with Shenzhen Foncoo Pharmaceutical Co. Ltd (Foncoo), in January 2022.
- Dishman Carbogen Amcis Ltd., a firm that develops pharmaceutical processes and manufactures active pharmaceutical ingredients (APIs) and pharmaceutical products, disclosed its expansion plans for the construction of production facilities in France and Switzerland, in December 2021.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the tumour-induced osteomalacia market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the treatment (drugs & supplements [burosumab –twza, cinarcalcet, calcium, active vitamin D (calcitriol/α-calcitriol), and phosphorus], and surgery), diagnosis (laboratories [elevated blood fibroblast growth factor 23 (FGF-23), serum calcium, PTH, vitamin D, hyperphosphaturia (secondary effects of the FDF-23), and hypophosphatemia (secondary effects of the FDF-23)], bone scan [magnetic resonance imaging (MRI), and computed tomography (CT scans)], and differential diagnosis [vitamin D metabolism & deficiency, osteoporosis, renal osteodystrophy, and others]), and end user (hospitals, specialty clinics, and others), across ten key countries around the world.
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