Lifestyle changes affecting bone health, growing geriatric population, and widespread awareness about osteoporosis are factors driving the global osteoporosis drugs market. In addition, surging R&D investments in drug development and drug discovery, and the high risk of post-menopausal women developing osteoporosis are the other key factors that stimulate the demand for osteoporosis drugs. Osteoporosis refers to a progressive disease that affects the bones and makes them abnormally porous and brittle.
Osteoporosis increases the risks of fractures because the bones lose their strength and density. Two type of osteoporosis are primary osteoporosis and secondary osteoporosis. The problem of osteoporosis gets increased by genetic factors, sedentary lifestyles, overconsumption of alcohol, menopause, aging, lack of vitamin D and calcium, and certain types of medicines. Expanding at a CAGR of 4% from 2015 to 2022, the global osteoporosis drugs market is projected to reach US$14786.7 million by 2022 from US$11226.1 million in the current year.
Widespread Popularity of Biophosphonates to Add to Market Growth
The global osteoporosis drugs market is segmented on the basis of drug type and geography. On the basis of drug type, the global osteoporosis drugs market is categorized into RANK Ligand inhibitors, selective estrogen receptor modulators (SERMs), calcitonin, parathyroid hormone therapy drugs, and biophosphonates. The segment for biophosphonates is by far the largest in the global osteoporosis drugs market since, these medications are extensively prescribed for the prevention and treatment of osteoporosis.
Ongoing trends indicate that the market for biophosphonates will expand from US$5482.6 million in 2015 to US$7342.2 million by 2022, thereby exhibiting a CAGR of 4.3% in the forecast period. The diagnosis of osteoporosis calls for bone density scan and x-ray. People above the age of 60 years are most susceptible to developing osteoporosis. Besides medication, osteoporosis can be treated and managed with exercise and periodical intake of vitamin D and calcium supplements. Since estrogen plays a vital role in maintaining healthy bones, the lack of it in post-menopausal women often leads to osteoporosis and related bone problems.
India and China to give a Significant Boost to the Asia Pacific Osteoporosis Drugs Market in the Forthcoming Years
Geographically, the global osteoporosis drugs market is segmented into Asia Pacific, Europe, and North America. North America is the largest regional player in the global osteoporosis drugs market owing to factors such as high incidence of lifestyle diseases in the region, high investment in drug discovery and drug development, and a rapidly expanding geriatric population.
However, over the next couple of years Asia Pacific osteoporosis drugs market is expected to grow robustly owing to the rapid growth of the osteoporosis drugs markets of India and China. Factors that stimulate the market in emerging economies are rising awareness about osteoporosis, rising expenditure on healthcare, growing geriatric population, changing lifestyles, and also large patient pools in these regions.
Despite the rapid growth of the global osteoporosis drugs market there are glaring challenges such as patent expirations of osteoporosis drugs and the side effects of such drugs, negatively impacting the market growth.
The prominent companies in the global osteoporosis drugs market are Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Pfizer Inc., Actavis plc, Amgen Inc., Novartis AG, Eli Lilly and Company, and Novo Nordisk A/S amongst others.