Paget’s Disease Market Estimated to Expand at a Robust CAGR by 2025
A Paget’s disease is a chronic bone disorder characterized by misshaped or enlarge bone. The disease is primarily caused by disorganized bone formation or excessive breakdown of bone that may result in pain and fracture in joints near the affected bone. In Paget’s disease, the remoulding of bone is disturbed which ultimately leads to brittle and dense bone. Additionally, this disease may also lead to other medical problems such as arthritis, kidney stones, nervous system problems, and vision loss. About 70% to 90% of patients with Paget’s disease are asymptomatic, while some patients experience symptoms such as bone pain, secondary osteoarthritis, bone deformity, excessive warmth, and neurologic complications.
X-ray, bone scanning, and alkaline phosphate blood test are preliminary diagnostics tools for the diagnosis of the Paget’s disease. In addition, aspirin and anti-inflammatory drugs are used to decrease the activity of this disease.
Introduction of new drugs for the treatment of Paget’s disease is likely to drive the growth of the Paget’s Disease Market. The Food and Drug Administration (FDA) approved several medications such as risedronate, zoledronic acid, pamidronate, and calcitonin that reduce the pain and decrease the progression of the disease. Thus, the approval of new and highly effective drugs for the treatment of the disease is projected to increase the uptake of drugs by patients and ultimately boost the market growth. In addition, increasing research and activities by key players to identify viral and genetic causes of Paget’s disease are expected to propel the market growth. However, decrease in the prevalence of the disease, resulting in the decline of drug treated population, is restraining the market growth. In addition, patent expiry of drugs such as Fosamax, Miacalcin and Reclast is likely to further hamper the growth of this market.
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The global market for Paget’s disease can be segmented on the basis of product, distribution channel, and geography. In terms of product, the market is segmented into bone-specific serum alkaline phosphatase diagnostic kits, therapeutics, and orthotic devices. The therapeutics segment includes bisphosphonates and calcitonin analogues. The therapeutic segment is anticipated to account for a major share of the Paget’s disease market, followed by the orthotic devices segment, owing to geriatric population and availability of effective therapeutics coupled with a large number of therapeutics under clinical pipelines. However, less technological advancement and product development has restricted the market growth of the diagnostic kits segment.
According to the National Health and Nutrition Examination Survey, the prevalence of the disease varies in different regions of the world. Europe has the highest prevalence of the disease (predominantly England, France, and Germany). The U.S., Australia, and New Zealand also have a high prevalence rate because of a significant population of Northern European ancestry and British immigrants. Europe and North America dominate the global Paget’s disease market due to consistent efforts of domiciled manufacturers to introduce novel treatment options. Affecting 1 out of every 33,000 people in the U.S., the Paget’s disease is listed as one of the rare diseases by the Office of Rare Diseases (ORD). The disease is rare in the countries of Asia, especially China, India, and Malaysia, and in the Middle East and Africa. India and South East Asia are emerging markets for Paget’s disease owing to positive initiatives by government to cure the disease.
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Key players operating in the global Paget’s disease market include Abbott Laboratories, Pfizer Inc., Boston Scientific Corporation, Medtronic, Inc. Quidel Corporation, Quest Diagnostics Incorporated, BSN Medical, DeRoyal Industries, Inc., and DJO Global.