Asia-Pacific Osteoporosis Drugs Market Expected to Witness the Fastest Growth (4.2% CAGR) Globally, During 2016 – 2022
Nov 7, 2017
Global Osteoporosis Drugs Market Expected to Grow at 3.8% CAGR During 2016 – 2022
New York, United States - November 6, 2017 /MarketersMedia/ —
The global osteoporosis drugs market was worth $8,835.4 million in 2015 and it is expected to grow at a CAGR of 3.8% during 2016-2022. Among the various drug classes, the rank ligand inhibitors segment is expected to witness the fastest growth, a CAGR of 4.3% during the forecast period.
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Osteoporosis disease is the most common bone disease occurring due to reduced bone mineral density, thus increasing risk of fractures and fragile bones. It leads to abnormally porous bones such as sponge, which facilitates weakening of bones and painful fracture. Bone mineral density decreases naturally with age, and hence aging population face high risks of osteoporosis. The decline in bone strength is only visible after the bone gets fractured. Most of the spine, hip, shoulder and forearm fractures occur in aged people of 65 years and above. One of the major procedures to build stronger muscle and bones is exercising regularly during the teenage years, which in turn leads to a lower risk of osteoporosis disease. The increasing trend of inactive lifestyle and obesity leads to growing prevalence of osteoporosis disease.
Some of the signs and symptoms of the osteoporosis are falling risk and fractures. Diagnostic tests of osteoporosis include X-Ray test and traditional radiography tests, which is further confirmed with the help of bone density test. Osteoporosis disease can be managed by nutrition emphasis, lifestyle management and medicines. According to National Osteoporosis Foundation, by 2025 osteoporosis would lead to approximately three million fractures.
Based on drug class, the global osteoporosis drugs market has been segmented as bisphosphonates, parathyroid hormone therapy, SERM’s, rank ligand inhibitor, calcitonin, and others. The bisphosphonates segment dominated the global market in 2015.
The global osteoporosis drugs market is growing due to growing geriatric population, increasing prevalence of osteoporosis in postmenopausal women and increasing healthcare expenditure. The increasing focus on research & development of new drugs for treatment of osteoporosis and increasing awareness of osteoporosis are also driving the growth of the global osteoporosis drugs market.
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Geographically, North America is expected to continue being the largest market for osteoporosis drugs globally, during 2016-2022. It is due to growing geriatric population and increasing awareness of osteoporosis. The European osteoporosis drugs market is growing at a significant rate mainly due to growing aging population, increasing prevalence of osteoporosis in postmenopausal women and increasing awareness of osteoporosis. However, the Asia-Pacific market of osteoporosis drugs is expected to witness the highest growth during the forecast period. This is due the growing geriatric population, increasing healthcare expenditure, large pool of patients, modifying lifestyle and increasing awareness of osteoporosis in the region.
Some of the key companies operating in the global osteoporosis drugs market include Eli Lilly and Company, Pfizer Inc., F. Hoffmann-La Roche, Novartis International AG, Merck & Co. Inc., and Amgen Inc.
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