Osteoporosis Drugs Market to Witness High Growth in Near Future Forecast to 2026 with top key players Novartis International AG (Sandoz), Pfizer Inc., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical
Pune, Maharashtra, India, November 27 2020 (Wiredrelease) Allied Analytics –:Global Osteoporosis drugs market size was valued at $8 billion in 2018, and is expected to reach $10 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026. Increase in prevalence of osteoporosis, rapid increase in aging population, and adoption of sedentary lifestyle propel the growth of the global osteoporosis drugs market
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Rise in prevalence of osteoporosis, rapid growth in aging population, and adoption of sedentary lifestyle drive the growth of the global osteoporosis drugs market. On the other hand, side effects of osteoporosis drugs and stringent drug approval process hamper the growth to some extent. Nevertheless, high growth prospects in emerging markets is anticipated to pave the way for multiple opportunities in the near future.
Osteoporosis is a medical condition which involves the weakening of the bones. This medical condition is caused due to the overexpression of the parathyroid hormone. Moreover, the weak bones are porous and susceptible to serious fractures. Therefore, osteoporosis has a significant impact on quality of life of patients such as the condition leads to limited mobility. Thus, this medical condition requires treatment which includes the administration of drugs such as bisphosphonates selective estrogen inhibitors modulator (SERM), parathyroid hormone therapy, calcitonin, rank ligand inhibitors and others. Furthermore, these drugs are administered through different routes in the body. For instance, some osteoporosis drugs are administered through the oral route whereas others are administered through the intravenous route.
The oral segment to maintain the lion’s share during the estimated period-
Based on route of administration, the oral segment held the major share in 2018, garnering nearly three-fifths of the global osteoporosis drugs market, owing to the large number of osteoporosis medications, which are available as oral drugs in the market. Simultaneously, the injectable segment would manifest the CAGR of 4.4% throughout the forecast period, owing to factors such as rise in need for drugs, which exhibit enhanced bioavailability and act rapidly
North America to lead the trail till 2026-
Based on region, North America accounted for nearly half of the global osteoporosis drugs market share in 2018, and is projected to rule the roost during the study period. Owing to easy availability of osteoporosis drugs and surge in incidence of osteoporosis. At the same time, the LAMEA region would portray the fastest CAGR of 5.5% by 2026. This is attributed to increase in awareness regarding the use of osteoporosis drugs for the treatment of osteoporosis. In addition, the constantly evolving life science industry fuels the growth of the market in the developing economies such as India, China, and Malaysia.
Key Findings of the Study:
– Bisphosphonates occupied more than one-third share of the global osteoporosis drugs market in 2018.
– The RANK ligand inhibitors segment is anticipated to grow with the highest CAGR throughout the forecast period.
– The oral segment in drug class accounted for more than more than half the share of the market in 2018.
– Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA
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Key market players-
Major players operating in the market include Amgen Inc., F. Hoffmann-La Roche AG, Radius Health, Inc., Merck & Co. Inc., Novartis International AG (Sandoz), Pfizer Inc., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, and Teva Pharmaceutical Industries Ltd.
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