Parathyroid hormone plays a significant role in regulating the metabolism of calcium, phosphate, and Vitamin D. The hyperparathyroidism, and hypoparathyroidism are the two most common parathyroid disorders.
A number of factors such as growing geriatric population, rising prevalence of parathyroid disorders, increasing government assistance, rising healthcare expenditure, improving regulatory framework, and rising funding and reimbursements are propelling the growth of the global parathyroid disorders market.
However, challenges in research and development, 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 hamper the growth of the market.
It is estimated that the parathyroid disorders market is expected to grow at a CAGR 6.5% during the forecast period of 2017-2023.
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Regional Analysis:
The Americas dominate the global 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 healthcare 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 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 healthcare 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.
Segmentation
The global parathyroid disorders market is segmented on the basis of type, diagnosis, treatment, and end user.
On the basis of the type, the market is classified as hyperparathyroidism (HPT), parathyroid cancer, and hypoparathyroidism. The hyperparathyroidism is further sub-segmented into primary hyperparathyroidism, secondary hyperparathyroidism, and tertiary hyperparathyroidism.
On the basis of the diagnosis, the 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 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 market is segmented into hospitals & clinics, diagnostic centers, drug stores, pharmacies, and others.
Key Players
Some of the key players in the global 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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