Transparency Market Research has published a new report titled, ‘Osteoporosis Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
Transparency Market Research (TMR) has published a new report titled, ‘Osteoporosis Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Osteoporosis Drugs market was valued at US$ 11.5 Bn in 2018 and is projected to contract at a CAGR of 0.3% from 2019 to 2027.
Overview
- Osteoporosis is a chronic and life-threatening disease, in which microstructure of bones is altered due to reduction in bone mass and bone density. This condition leads to increased bone fragility and threat of bone cracks and fractures. Thus, osteoporosis is considered life threatening due to severe injury and associated pain.
- Elevation in threat of bone cracks and introduction of new drug therapy classes are the factors that are fuelling the growth of osteoporosis drugs market. Since there is no distinct substitute available to treat osteoporosis (such as, surgery), the drugs therapy is an inevitable part of osteoporosis treatment
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- Growing aging population leads for higher prevalence of osteoporosis which brings more growth opportunities for osteoporosis drugs market.
- North America dominated the global osteoporosis drugs market in 2018 and the trend is anticipated to continue during the forecast period. Higher osteoporosis incidence & prevalence rate, presence of major companies, and better diagnosis rate for the diseases are some of the major factors to dive the market in this region.
Rise in prevalence of osteoporosis across the globe to Drive Market
- Higher incidence & prevalence of osteoporosis across the world is the major driver for the growth of global osteoporosis market.
- For instance, according to International Osteoporosis Foundation, Osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds and also it is estimated to affect 200 million women globally.
- Moreover growing aging population aged above 50 years are at the greatest risk of developing osteoporosis and related fractures due to hormonal changes. So this rise in aging population also fuelling the growth of global market.
- Development of novel approaches for the treatment of osteoporosis by new drugs and increase in awareness among people for the early diagnosis & treatment are also some of the major factors for the growth of this market.
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Bisphosphonates Segment to Dominate Market
- Based on drug class, the global osteoporosis drugs market has been divided into Bisphosphonates, Calcitonin, RANK Ligand Inhibitors, Parathyroid Hormone Therapy (PTH), Selective Estrogen Receptor Modulators (SERMs), Sclerostin Inhibitor, and others.
- RANK ligand inhibitors dominated the market in 2018 due to market exclusivity of branded drugs and its efficacy to treat osteoporosis. However this segment is projected to lose its market share by the end of 2027 due to patent expiration and generics availability.
- Bisphosphonates segment is projected to dominate by the end of 2027 to first mover advantage for this class and extensive prescriptions of bisphosphonates in osteoporosis treatment.
- Sclerostin Inhibitor segment is expected to grow with higher CAGR during the forecast period owing to novel approach for of the drug for osteoporosis treatment and recent launch of product in 2019.
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North America to Dominate Global Market
- In terms of region, the global osteoporosis drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America accounted for major share of the global osteoporosis drugs market in 2018, owing to higher prevalence of osteoporosis, recent approval of drugs in the region, and early diagnosis of disease.
- For instance, as per International Osteoporosis Foundation, osteoporosis and low bone mass are currently estimated to be a major public health threat for almost 44 million U.S. women and men aged 50 and older
- The Osteoporosis Drugs market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to growing aging population, higher demand of branded as well as generic products for osteoporosis, and increased awareness towards diagnosis & management of osteoporosis, and preference of population towards drugs with less side-effect.
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Competitive Landscape
The global Osteoporosis Drugs market is fragmented in terms of number of players. Key players in the global market include Eli Lilly and Company, Pfizer, Inc., Amgen, Inc., Merck & Co., Inc., Radius Health, Inc. , Novartis AG, Teva Pharmaceutical Industries Ltd., Novo Nordisk A/S, F. Hoffmann-La Roche Ltd., UCB S.A., Mylan N.V., and Apotex Inc. among others.
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