The global osteoporosis market is currently eyeing for a staggering USD 14,300 million valuation during the forecast period (2013-2022), claims Market Research Future (MRFR) in a detailed study. Booming urbanization and technological advancements may have a lot to do with the progressing world, but they have some adverse effects too. Osteoporosis is one such side-effect of the fast-evolving lifestyle and the inflating osteoporosis drugs market is a direct result of that. The market is about to witness a moderate CAGR of 4.7% during the forecast period.
Drivers and Restraints:
Osteoporosis follows a genetic map in targeting people. The Caucasians are more susceptible to osteoporosis, and the Asians come next. Whereas, the Africans are the least in number to suffer from this disease. Along with this gender bias, a rise in geriatric population, alcoholism and smoking, the prevalence of various disease such as cancer, autoimmune disorders, thalassemia, hormonal and disorders are also affecting the bone condition of the mass.
Adoption of a sedentary lifestyle triggered by work-related pressures and technological advancements is also one of the chief driving force for the osteoporosis drug market. Furthermore, women are more prone to this disease. This has given rise to awareness and technological and medical awareness which also giving the market a much-needed thrust.
However, blockbuster drugs losing patents, generic drugs penetrating the market and creating fragments in the market, and side-effects of present therapies can bottleneck the market growth. But patients are now quickly realizing its importance and how it can lead to further damages such as hip fractures which will bring back the wind in the market’s favor.
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The market is mainly getting driven by mergers and acquisitions. For instance, Novartis has recently acquired AveXis, Inc. On the other hand, F. Hoffmann La Roche Ltd. reached an agreement with Foundation Medicine regarding a definitive merger.
Some of the key players in this market are Eli Lilly and Company, Merck & Co., Novartis International AG, Amgen Inc., F. Hoffmann La Roche Ltd., Pfizer Inc., Novo Nordisk, Teva Pharmaceutical Industries Ltd. and others.
The global market for osteoporosis drug market can be segmented by drug class, route of administration and gender.
By osteoporosis medications, the market can be segmented into bisphosphonates, calcitonin’s, selective estrogen receptor modulators (SERMS), parathyroid hormone (PTH) and others. Bisphosphonates are currently leading the market. The drug is the most commonly prescribed medicine resulting in the medicine capturing almost half of the market.
On the basis of route of administration, the market comprises oral, injectable and others.
Based on gender, the market comprises male and female. However, women are more prone to this disease. As per the studies of the International Osteoporosis Foundation (IOF), worldwide over a billion women are now suffering from the disease.
The global osteoporosis drug market covers the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas has the largest market owing to a rising geriatric population and advanced healthcare setup. Also, the reimbursement policies are pretty patient-friendly resulting in the growth of the market. People here are more aware of the consequences, that is why they prefer timely action. Hence, the market is snowballing.
Europe is second in the market and technologically advanced healthcare sector is proving to be a boon for the market. Rising number of population with disposable income and easy reimbursement policies act as a market booster.
The APAC comes next where China and India are expected to play significant role. These two countries have a huge population base, and the market is benefitting much from their very well-structured healthcare sector.
The MEA is expecting the least growth. Healthcare sector is not that developed, and people act ignorant. Reimbursement policies are not that well-formed. These are factors holding the market back.
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