Pharmacy Sarcopenia Treatment Market to Showcase Healthy Expansion at 4.2% CAGR During 2018 - 2026 Persistence Market Research
NEW YORK, November 5, 2018
NEW YORK, November 5, 2018 /PRNewswire/ --
Global Pharmacy Sarcopenia Treatment Market Anticipated to Grow Steadily and projected to reach US$ 3,302.0 Mn by the end of 2026 - Persistence Market Research
According to the latest market report published by the company titled 'Sarcopenia Treatment Market: Global Industry Analysis 2013 - 2017 and Forecast, 2018 - 2026,' the global sarcopenia treatment market is projected to reach US$ 3,302.0 Mn by the end of 2026 and grow at a CAGR of 4.2% during the forecast period.
Global Sarcopenia Treatment Market: Dynamics
Sarcopenia is categorized by progressive and generalized loss of skeletal muscle mass and strength, with a risk of adverse outcomes such as poor quality of life, physical disability and death. Sarcopenia is the age-related loss of muscle mass, after the age of 60 the muscle mass declines at an annual rate of 1.5% to 3.0% per year. The prevalence of sarcopenia among people aged 65 years and above is estimated to be 15%, whereas 50% among people aged 80 and above.
Increasing consumption of dietary and nutritional supplements due to health consciousness among the elderly population is expected to propel the demand for sarcopenia treatment. The benefits of nutritional supplements to overcome vitamin deficiency is expected to boost the growth of the sarcopenia treatment market. Most of the pharmaceutical and food-processing companies are investing in the development of new nutrition supplements in order to focus on the specific needs. Likewise, increasing investments in nutraceutical development is the major factor expected to spur the growth of the sarcopenia treatment market. The growth of the sarcopenia treatment market is primary driven by the increasing aging population. According to the National Institutes of Health (NIH), the global population of people aged 80 and above is expected to grow from 126.5 million to 446.6 million between 2015 and 2050. Reduction of hormone secretion rate and increasing vitamin deficiency with aging are expected to create high demand for sarcopenia treatment supplements. Economic factors such as the rise in consumer spending by the aging population and increasing per capita healthcare expenditure are also expected to drive the demand for sarcopenia treatment supplements. According to the National Health Expenditure Accounts (NHEA), the U.S. health care spending grew by 4.3% in 2016, reaching US$ 3.3 trillion or US$ 10,348 per person.
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However, the diagnosis rate of sarcopenia is very low as a large number of people ignore the symptoms of muscle loss. Moreover, low awareness regarding diagnostic and management methods of sarcopenia due to lack of skilled professionals is expected to hamper the growth of the sarcopenia treatment market. Moreover, unavailability of sarcopenia treatment drugs and the high cost of protein supplement are the other factors expected to restrain the growth of the sarcopenia treatment market.
Global Sarcopenia Treatment Market: Forecast
The global sarcopenia treatment market is segmented based on treatment type, distribution channel, and region. Based on treatment type, the global sarcopenia treatment market is segmented into protein supplement, vitamin D & calcium supplement, and vitamin B12 supplement. The protein supplement segment is expected to represent a high revenue share in the global sarcopenia treatment market over the forecast period.
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Based on the distribution channel, the global sarcopenia treatment market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and hypermarket & supermarket. Among all the distribution channels, the retail pharmacies is expected to be the leading segment in the global sarcopenia treatment market over the forecast period. The online pharmacies segment is expected to represent a high growth rate in the global sarcopenia treatment market due to increasing online purchasing and manufacturer's inclination towards digital platforms for marketing and sale.
On the basis of region, the global sarcopenia treatment market has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. This report assesses the trends driving the growth of each segment and offers analysis and insights into the potential of the sarcopenia treatment in specific regions. North America is expected to contribute a high revenue share in the global sarcopenia treatment market over the forecast period. The demand for sarcopenia treatment has increased in North America due to the increasing adoption of nutritional supplements, particularly by the elderly population due to increasing health consciousness. Europe is expected to account second large share in the global sarcopenia treatment market over the forecast period. The developed European countries, such as Germany, the U.K., France, and Italy, are expected to account high share in the Europe sarcopenia treatment market due to increasing sarcopenia prevalence associated with inactive lifestyle and obesity. The Asia Pacific is expected to witness rapid growth in the global sarcopenia treatment market over the forecast period due to increasing aging population in countries such as Japan.
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Global Sarcopenia Treatment Market: Competitive Landscape
The global market for sarcopenia treatment is consolidated with the presence of a large number of participants. Examples of some of the key participants identified in the global sarcopenia treatment market are Abbott Laboratories, Pfizer Inc., GlaxoSmithKline Plc., Nestlé S.A., Sanofi S.A., Bayer AG, Amway, Novartis AG, Cadila Healthcare Ltd., and Eli Lilly and Company. The players operating in the sarcopenia treatment market are focusing on clinical trials for the introduction of effective sarcopenia treatment drugs and supplement.
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