Osteoporosis Drugs Market Overview
Osteoporosis is a disorder that causes a lower bone mass that results in weakening and micro-architectural deterioration of bone tissues. Osteoporosis makes bones so brittle that a minor injury or even mild stresses like bending over or coughing can cause a fracture. Osteoporosis drugs are useful in the treatment of low bone density, slowing down bone resorption. These medications reduce the likelihood of having fragility fractures.
The global osteoporosis drugs market is well-established, and there are various effective medicines available to treat the disorder which is invariably driving the growth of the market. Moreover, a growing number of drug manufacturers are escalating the market on the global platform, bringing novel medications in the market.
Recognizing the colossal traction and gauging the potential of the market to grow in forthcoming years; Market Research Future (MRFR), in its newly published study analysis asserts that the global osteoporosis drugs market will reach a valuation of USD 14,300 MN by 2022, growing at7.2% CAGR over the review period (2017 – 2022).
Additional factors helping the market to grow further include the rise in the geriatric population, gene mutations, changing lifestyle, and addictions such as alcoholism and smoking. Also, drug-induced osteoporosis and rising prevalence of diseases and medical procedures that may cause bone loss such as cancer, autoimmune disorders, thalassemia, and hormonal disorders, are some of the key factors propelling the growth of the market.
Conversely, factors such as the patent expiries of blockbuster medicines, side effects of these drugs, and the availability of generics are impeding the growth of the market. Also, in some cases, osteoporosis shows very low or poor symptoms which obstructs the market growth.
Nevertheless, factors such as substantial technological strides that have made the osteoporosis drugs more effective, increasing the demand for the treatment measures for osteoporosis are expected to fuel the growth of the market.
Besides, substantial investments transpired into R&D activities, and improving economic conditions would provide impetus to the growth of the market, increasing the healthcare expenditures and access to excellent health care.
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Global Osteoporosis Drugs Market – Segments
For ease of understanding, the analysis has been segmented into four key dynamics:
By Drug Class: Bisphosphonates, Calcitonins, Selective Estrogen Receptor Modulators (SERMs), and Parathyroid Hormone (PTH) among others.
By Route Of Administration: Oral and Injectable among others.
By Gender: Male and Female
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Osteoporosis Drugs Market – Regional Analysis
The North American region, heading with the increasing prevalence of osteoporosis is estimated to retain its dominance over the global osteoporosis drugs market. Additional factors such as the presence of a well-developed healthcare sector, high per capita healthcare expenditures, and well-spread awareness drives the regional market.
Furthermore, growing markets in the U.S. and Canada backed by the presence of prominent market players impacts the growth of the regional market, positively. The region is expected to create a significant revenue pocket registering a robust CAGR throughout the forecast period (2017-2022).
The osteoporosis market in the European region accounts for the second-largest market, globally. Factors such as favorable government support and initiatives and the proliferating healthcare sector backed by the resurging economy are radiantly fostering the growth of the market in the region.
The U.K., backed by its sizeable osteoporosis drugs market and Germany with its vast medical technology and pharmaceutical industry, significantly contributes to the growth of the regional market, is expected to drive the market growth in the region.
The Asia Pacific osteoporosis drugs market is rapidly emerging as a promising market, globally. Factors such as the spreading awareness towards the disorder and women healthcare alongside the availability of many novel drugs influence the growth of the market, positively.
Moreover, the rising prevalence of osteoporosis in women after menopause, gene mutations, changing lifestyle, and the burgeoning pharmaceutical industry support the growth of the regional market. Furthermore, continually rising healthcare expenditures and favorable government policies, especially in the developing countries like China and India substantiate the market growth in the APAC region.
Osteoporosis Drugs Market – Competitive Analysis
Fiercely competitive, the osteoporosis drugs market appears fragmented with many large and small players churning the competition. Through the strategic initiatives such as partnership, expansion, acquisition, collaboration, and product & technology launch these players try to gain an edge over their competitors.
Osteoporosis Drugs Market Major Players:
Key players leading the global osteoporosis drugs market include Merck & Co., Eli Lilly and Company, Novartis International AG, F. Hoffmann La Roche Ltd., Amgen Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Novo Nordisk among others.
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Osteoporosis Drugs Industry, Innovation & Related News
April 16, 2019 –--- Two leading global biopharmaceutical companies UCB (Belgium) and Amgen Inc. (the US) announced the receiving of the US FDA approval for the osteoporosis drug – Evenity that they have developed, collaboratively. This drug is approved to treat osteoporosis in postmenopausal women at high risk of bone fracture. Evenity represents the first new treatment approach after nearly two decades, restoring bone without breaking it down. Based on a rare gene mutation in people with bones so dense that they never break, Evenity, can increase bone formation and decrease bone loss.