Global Parathyroid Hormone Market Forecast To 2023
The global parathyroid hormone market is expected to decline from $1.78 billion in 2019 to $1.70 billion in 2020 at a compound annual growth rate (CAGR) of -4.4%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.90 billion in 2023 at a CAGR of 3.9%. The rise in the prevalence of osteoporosis is expected to drive the market for parathyroid hormones. However, product recalls due to quality control issues hinder the growth of the market.
The parathyroid hormone is responsible for regulating the distribution of phosphate and calcium in the body and is used in the treatment of diseases such as hypothyroidism and osteoporosis.
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The global parathyroid hormone market is further segmented based on type and geography.
By Disease Type: Hypocalcaemia, Hypoparathyroidism
By End-User: Hospitals, Clinics, Other.
By Geography: The global parathyroid hormone market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American parathyroid hormone market accounts for the largest share in the global parathyroid hormone market.
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Trends In The Parathyroid Hormone Market
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 hormones manufacturing companies are investing in it.
Parathyroid Hormone Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides parathyroid hormone market overviews, analyzes and forecasts parathyroid hormone market size and growth for the global parathyroid hormone market, parathyroid hormone market share, parathyroid hormone market players, parathyroid hormone market size, parathyroid hormone market segments and geographies, parathyroid hormone market trends, parathyroid hormone market drivers and parathyroid hormone market restraints, parathyroid hormone market’s leading competitors’ revenues, profiles and market shares. The parathyroid hormone market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.