New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Parathyroid Hormone Global Market Report 2023" - https://www.reportlinker.com/p06241851/?utm_source=GNW
The global parathyroid hormone market is expected to grow from $2.02 billion in 2021 to $2.15 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The parathyroid hormone market is expected to reach $2.51 billion in 2026 at a CAGR of 4%.
The parathyroid hormone market consists of sales of parathormone and calcitonin.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Parathyroid hormone refers a substance produced by the parathyroid gland that aids in the body’s storage and utilisation of calcium.High blood calcium levels are a result of parathyroid hormone levels that are greater than usual and could be a disease indicator.
It is also known as PTH, parathyrin, and parathormone.
North America was the largest region in the parathyroid hormone market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the parathyroid hormone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in parathyroid hormone are recombinant parathtyoid hormone and parathyroid hormone analogs.Recombinant parathyroid hormone, a mimic of parathyroid hormone, is used to treat osteoporosis.
The different types of diseases include hypocalcaemia, and hypoparathyroidism and are used in various sectors such as hospitals, clinics, and others.
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 Osteoporisis 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.
Product recalls due to quality control issues are expected to hinder the growth of the market during the forecast period.A product recall is a process of retrieving defective or potentially unsafe goods from consumers due to safety, efficacy, and quality issues.
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 hormone manufacturing companies are investing in it. For instance, in August 2020, Cadila Pharmaceuticals has launched a teriparatide biosimilar (NuPTH) meant for osteoporosis.
Takeda Pharmaceutical Company Limited a Japan-based pharmaceutical company announced its decision to acquire Shire Plc for $46 Billion.The acquisition is expected to accelerate the delivery of medicines to patients around the world with an expanded scale and geographical footprint by Takeda Pharmaceutical Compay.
It also adds the rights of the parathyroid hormone natpara. Shire Plc is a USA-based pharmaceutical company focusing on innovative and rare disease drugs.
The countries covered in the parathyroid hormone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The parathyroid hormone market research report is one of a series of new reports that provides parathyroid hormone market statistics, including parathyroid hormone industry global market size, regional shares, competitors with a parathyroid hormone market share, detailed parathyroid hormone market segments, market trends and opportunities, and any further data you may need to thrive in the parathyroid hormone industry. This parathyroid hormone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06241851/?utm_source=GNW
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