Global Hypercalcemia Treatment Market, by Drug Type (Bisphosphonates (Clodronate, Etidronate, Ibandronate, Pamidronate, and Zoledronic Acid), Calcitonin, Glucocorticoids, Denosumab, Calcimimetics, and Others), by Indication (Primary Hyperthyroidism, Hypercalcemia of Malignancy, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,478.6 million in 2021, and is expected to exhibit a CAGR of 8.1% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of chronic diseases such as cancer is expected to propel growth of the global hypercalcemia treatment market over the forecast period. For instance, according to the Cancer Research U.K., during the period 2016-2018, approximately 6,000 new cases of myeloma were diagnosed in the U.K., which equates to 16 cases per day. Moreover, according to the same source, myeloma is the 18th most common cancer in females in the U.K., with approximately 2,500 new cases diagnosed each year, and it is the 16th most common cancer in men in the U.K., with approximately 3,400 new cases diagnosed each year.
Global Hypercalcemia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has drastically affected several clinical trials. Various trials have paused enrollment, and researchers are facing multiple challenges associated with setting up remote visits and performing laboratory and other study assessments. For instance, according to a survey conducted by Medidata Solutions, Inc. (a U.S. based technology company, that develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they had stopped recruiting new patients for ongoing clinical trials, and 43% of the respondents had postponed their studies.
Moreover, it affected a lot of activities and surgeries, as a result of the lockdown. For instance, according to the article published in the Clinical Therapeutics journal, in April 2021, Parathyroidectomy is the only curative therapy for patients with primary hyperparathyroidism (PHPT) and severe hypercalcemia. During the coronavirus (COVID-19) pandemic, when several hospital visits were halted and surgeries were not performed, managing these patients remained a difficult clinical situation.
Hence, with reference to above mentioned points, the impact of COVID-19 is expected to hamper the growth of the global hypercalcemia treatment market over the forecast period.
Browse 41 Market Data Tables and 39 Figures spread through 219 Pages and in-depth TOC on “Hypercalcemia Treatment Market”- Global Forecast to 2028, Global Hypercalcemia Treatment Market, by Drug Type (Bisphosphonates (Clodronate, Etidronate, Ibandronate, Pamidronate, and Zoledronic Acid), Calcitonin, Glucocorticoids, Denosumab, Calcimimetics, and Others), by Indication (Primary Hyperthyroidism, Hypercalcemia of Malignancy, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Hypercalcemia Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/hypercalcemia-treatment-market-3504
Moreover, increasing adoption of inorganic strategies such as agreements by the key players operating in the market is also expected to aid in growth of the global hypercalcemia treatment market over the forecast period. For instance, in June 2021, Theramex, a leading global specialty pharmaceutical company dedicated to women's health, announced an agreement to register and commercialize denosumab from Enzene Biosciences Limited, Pune, India, a subsidiary of Alkem Labs, for use in Switzerland, Europe, the U.K., and Australia. Moreover, Denosumab, a biosimilar to the reference drug Prolia, is an antiresorptive (bone strengthening) treatment for osteoporosis, which is a major symptom of hypercalcemia.
Key Takeaways of the Global Hypercalcemia Treatment Market:
- The global hypercalcemia treatment market is expected to exhibit a CAGR of 8.1% during the forecast period due to increasing product launches by the key players, which is expected to boost growth of the market. For instance, in August 2021, Enzene Biosciences Ltd., a subsidiary of Alkem Labs, received Marketing Authorization (MA) from the Drug Controller General of India (DCGI) for its third biosimilar drug, 'Denosumab,' which is indicated for the treatment of osteoporosis in adults, a symptom of hypercalcemia.
- Among distribution channel, hospital pharmacies segment accounted for the largest market share in the global hypercalcemia treatment market in 2021. The increasing healthcare spending by various government healthcare regulatory organizations is expected to boost the segment growth over the forecast period. For instance, according to the U.S. Centers for Medicare and Medicaid Services’ 2018 findings on the National Health Expenditure (NHE), hospital expenditure in the U.S. increased by 4.5% in 2018, when compared to the previous year (2017).
- On the basis of region, North America accounted for the largest market share in global hypercalcemia treatment market in 2021. Presence of major market players in the region is expected to drive the growth of the market in this region. For instance, Crinetics Pharmaceuticals, Inc., a pharmaceutical company, is developing drug candidates to treat hypercalcemia disease.
- Major players operating in the global hypercalcemia treatment market include Bayer AG, Pfizer, Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd., Amgen Inc., Viatris Inc. (Mylan N.V.), Sun Pharmaceutical Industries Ltd., Cipla Inc., Actiza Pharmaceutical Pvt. Ltd., Apotex Inc., Crinetics Pharmaceuticals, Inc., Alkem Labs, Torrent Pharmaceuticals Ltd., Glenmark Pharmaceuticals Ltd., Hikma Pharmaceuticals, and Slate Run Pharmaceuticals
