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The market for parathyroid disorders is witnessing a steady rise in both the incidence and prevalence of conditions such as hyperparathyroidism and hypoparathyroidism globally, driven by factors including aging populations, lifestyle changes, and improved diagnostic capabilities leading to increased detection rates.
Advancements of technology in diagnostic imaging modalities like ultrasound, scans, and parathyroid hormone (PTH) assays are reshaping the market making it possible to make a more precise and efficient diagnosis of parathyroid disorders, which allows early intervention leading to better patient outcomes.
Increasingly, patients with hyperparathyroidism are getting interested in the minimally invasive surgical approaches like parathyroidectomy and minimally invasive radioguided parathyroidectomy (MIRP) primarily because of the less surgical morbidity, shorter hospital stays and faster recovery time when compared to the traditional open surgeries.
The parathyroid disorders market is seeing the rise of newer forms of treatment beyond surgery which include pharmacological approaches like calcimimetics and vitamin D analogs for the management of hyperparathyroidism and recombinant PTH therapy for hypoparathyroidism that provide other options for patients who cannot undergo surgery or prefer non-surgical management.
Developing precision medicine strategies to manage parathyroid diseases is emerging, with treatment approaches being individualized according to different patient factors such as severity of disease, comorbidities, genetic profile and response to previous treatments leading to more precise and efficient interventions.
The research in genetic and molecular biology is fuelling innovation in the parathyroid disorders market, with an emphasis on gaining an understanding of the genetic basis, determining biomarkers for risk stratification and prognosis, and producing targeted therapies focusing on particular molecular pathways that are associated with these conditions.
The increasing healthcare spending and enhanced insurance coverage for endocrine disorders is propelling the market growth through improved access to specialized health care services, diagnostic tests, and costly therapeutic interventions for parathyroid disorders patients, particularly in developed regions.
Advocacy and patient education programs are critical to the parathyroid disorders market as they supply tools, assistance and empowerment to patients and their families, increase awareness of the conditions, support early detection, lobby for research funding and improve access to care for patients.
Joint activities of educational organizations, pharmaceutical corporations, and regulatory bodies are promoting research and clinical trials targeted at the novel therapeutic drugs, state-of-the-art treatment approaches, and probable disease-altering interventions for parathyroid diseases that result in progress and development in the sphere.
Healthcare policies and government support for rare and endocrine disorders are contributing to the growth of the parathyroid disorders market by facilitating early diagnosis, subsidizing treatment costs, supporting research initiatives, and promoting collaborative efforts among stakeholders to improve patient outcomes and quality of life.
Parathyroid Disorders Market Highlights:
Parathyroid Disorders Market Scenario:
The Parathyroid Disorders Market Size was valued at USD 1.98 Billion in 2023. The Global Parathyroid Disorders industry is projected to grow from USD 2.15 Billion in 2024 to USD 3.86 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.69% during the forecast period (2024 - 2032). Parathyroid glands produce and secrete a parathyroid hormone which is involved in regulation of calcium and phosphorus metabolism. Hyperparathyroidism and Hypoparathyroidism are the two most common parathyroid disorders. The hyperparathyroidism is characterized by an excessive secretion of parathyroid hormone. The most common signs and symptoms of the disorder include kidney stones, bone and joint pain, fragile bones, weakness.
According to a study published in the Turkish Journal of Trauma and Emergency Surgery in 2016, it is found that hyperparathyroidism is the third most common clinical endocrine disorder with a prevalence between 0.1–1.0%, and an incidence of around 28 cases per 100,000 individuals. It also reported that the incidence rate is highest between 50 and above age group i.e. the condition is affecting 2% of the population aged 55 years or older.
Notably, rising prevalence of parathyroid disorders and growing geriatric population are the key factors driving the parathyroid disorders market.
Various other factors such as increasing incidences of parathyroid disorders, increasing government assistance, rising healthcare expenditures, improving regulatory framework, and rising funding and reimbursement policies are continuously contributing to the growth of the parathyroid disorders market. According to the data suggested by Eurostat, it is observed that among the EU Member States, the highest value of healthcare expenditure was recorded in Germany in 2014 i.e. EUR 321 billion, which is further followed by France with EUR 237 billion, and the United Kingdom with EUR 223 billion.
Despite these drivers, there are some issues associated with parathyroid disorders market. Some of the challenges include less research and development funding, side-effects of treatment, the presence of misbranded and spurious drugs, expiration of patented drugs and poor healthcare system in low and middle-income countries may hinder the growth of the market to an extent.
Intended Audience:
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Medical Device Companies
- Diagnostic Laboratories
- Government Research Institute
- Academic Institutes and Universities
Segmentation
The parathyroid disorders market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the parathyroid disorders market is classified as hyperparathyroidism (HPT), parathyroid cancer, and hypoparathyroidism. The hyperparathyroidism is further segmented into primary hyperparathyroidism, secondary hyperparathyroidism, and tertiary hyperparathyroidism.
On the basis of the diagnosis, the parathyroid disorders market is classified as blood tests, imaging tests, and urine tests. The imaging tests is further sub-segmented into CT or CAT (computed axial tomography) scans, MRI (magnetic resonance imaging) scans, X-ray, ultrasound, bone density test, and sestamibi scan.
On the basis of the treatment, the parathyroid disorders market is classified as surgery, radiation therapy, drugs, and others. The drugs segment is further sub-segmented into calcimimetics, hormone replacement therapy, and bisphosphonates.
On the basis of the end-user, the parathyroid disorders market is segmented into hospitals & clinics, diagnostic centers, drug stores, pharmacies, and others.
Regional Analysis:
The Americas dominate the parathyroid disorders market owing to the rising prevalence of parathyroid disorders and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total health expenditure in the United States was reported to be USD 3.2 trillion and hospital care accounted for a share of 32.3%.
Europe holds the second position in the parathyroid disorders market. It is expected that the support provided by the government bodies for research & development and improvement in the reimbursement policies in the healthcare is likely to drive the market of the European region.
The Asia Pacific region is the fastest growing parathyroid disorders market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also improving in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-2015.
The Middle East & Africa holds the least market share due to lack of technical knowledge and poor medical facilities.
Key Players
Some of the key players in the parathyroid disorders market are Abbott Laboratories, Alcon Laboratories, Inc., Amgen Inc., Bayer Healthcare, Becton, Dickinson and Company, Eli Lilly, Ethicon, Inc., Genentech, Medtronic, Merck, Mylan Laboratories, Novartis, Novo Nordisk, Pfizer, Roche, Smith & Nephew plc, Stryker, Teva Pharmaceutical Industries Ltd., Zimmer Biomet Holdings, Inc., and others.
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