Osteoporosis Drugs Market to reach $10.47 billion by 2026, At CAGR of 3.9%
Pune, Maharashtra, India, February 24 2021 (Wiredrelease) Allied Analytics –: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.
According to the report published by Allied Market Research, the global Osteoporosis Drugs Market held nearly $7.65 billion in 2018, and is projected to reach $10.47 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026.
The bisphosphonates segment to retain its dominance by 2026-
Based on drug class, the bisphosphonates segment contributed to more than one-third of the global osteoporosis drugs market revenue in 2018 and is expected to dominate from 2019 to 2026. This is owing to increase in investment in R&D of advanced novel bisphosphonates drugs by major players. On the other hand, the rank ligand inhibitors would cite the fastest CAGR of 8.6% by the end of 2026, owing to the fact that these drugs are used to treat bone metastasis by acting as a chemo attractant to bone for tumor cells that expresses its receptor, RANK.
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Based on route of administration, the oral segment accounted for nearly three-fifths of the total share in 2018, and is estimated to maintain its lead status throughout the forecast period. However, the injectable segment is estimated to portray the largest growth rate with a CAGR of 4.4% from 2019 to 2026.
Based on region, North America held the largest market share in terms of revenue, contributing to nearly half of the total share in 2018, and is estimated to maintain its dominant share during the forecast period. However, LAMEA is estimated to witness the highest CAGR of 5.5% from 2019 to 2026. Asia-Pacific is expected to maintain a CAGR of 4.4% during the forecast period.
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.
Key market players-
F. Hoffmann-La Roche AG
Merck & Co. Inc.
Novartis International AG (Sandoz)
Sun Pharmaceutical Industries Ltd.
Takeda Pharmaceutical Company Limited
Teva Pharmaceutical Industries Ltd.
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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.
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