Global and China Osteoporosis Drugs Market Snapshot | Industry Predict a Long-Term Growth at 3.8% CAGR by Revenue US$ 17.1 Bn by 2027 | Coherent Market Insights
SEATTLE, April 29, 2021, (PHARMIWEB) — Overview
Osteoporosis is defined by the micro-architectural degradation of bone tissue, which results in low bone mass and bone fragility, especially in older people. Women are more susceptible to the condition over men, particularly after menopause, when bone loss is increased due to decreased estrogen, which protects the bones.
The global and China osteoporosis drugs market is estimated to account for US$ 17.1 Bn in terms of value by the end of 2027.
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Rising incidences of osteoporosis is expected to drive growth of the global and China osteoporosis drugs market during the forecast period. For instance, in October 2019, according to the study, ‘The Prevalence of Osteoporosis in China, a Nationwide, Multicenter DXA Survey’, published, in The Journal of Bone and Mineral Research, the age-standardized prevalence of osteoporosis at the spine or hip was 6.46% and 29.13% for men and women aged 50 years and above, respectively. A total of around 10.9 million men and over 49.3 million women in China were estimated to have osteoporosis.
Moreover, growing number of geriatric population is also expected to propel growth of the global and China osteoporosis drugs market over the forecast period. For instance, in 2019, according to the United Nations, Department of Economic and Social Affairs, Population Division, the geriatric population in China is expected to reach around 246,986 thousands in 2030 from 164,487 thousands.
North America held a significant position in the global and China osteoporosis drugs market in 2019, accounting around 38.5% share in terms of value, followed by Europe and Asia Pacific, respectively.
Negative impacts of osteoporosis medications are expected to hamper growth of the global and China osteoporosis drugs market. For instance, Stomach discomfort, acid reflux, constipation, diarrhea, upset stomach, nausea, and muscle and joint pain are all possible side effects of alendronate usage.
Furthermore, low understanding and diagnosis of osteoporosis, especially in emerging economies, is expected to hinder the global and China osteoporosis drugs market growth over the forecast period.
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Rising R&D activities to develop new therapies is expected to pose attractive growth opportunities for major players in the global and China osteoporosis drugs market. For instance, in June 2020, researchers from School of Medicine CHA University, South Korea, reported that Tauroursodeoxycholic acid, which has been approved hydrophilic bile acid, by the US Food and Drug Administration for the treatment of chronic cholestatic liver disease, can have a beneficial effect on bones and may be used to prevent and treat osteoporosis.
Furthermore, growing in number of smokers is also expected to propel growth of the global and China osteoporosis drugs market. For instance, according to the World Health Organization, 1.337 billion people smoked tobacco worldwide in 2018.
The global and China osteoporosis drugs market was accounted around US$ 12.7 Bn in 2019 and is forecast to reach a value over US$ 17.1 Bn by 2027 at a CAGR around 3.8% between 2020 and 2027.
Key companies are focusing on reducing the strain of osteoporosis. For instance, in June 2020, The International Osteoporosis Foundation collaborated with Amgen and UCB, a multinational biopharmaceutical firm, in collaboration with the University of Oxford, to help its Capture the Fracture program, which aims to eliminate hip and vertebral fractures around 25% by 2025.
Rising approval and launch of AI-based osteoporosis prediction products, is expected to drive growth of the global and China osteoporosis drugs market. For instance, in May 2020, Zebra Medical Vision received FDA 510(k) clearance for its Vertebral Compression Fractures product, which allows clinicians to position patients at risk of osteoporosis in treatment pathways by automatically identifying findings indicative of compression fractures.
- By Drug Type:
- Bisphosphonates: Alendronate, Risedronate, Ibandronate, Zoledronic Acid, Others
- Calcitonin, Hormone Therapy, Selective Estrogen Receptor Modulators (SERMs), Parathyroid Hormone-Related Protein (PTHrP) Analog, Rank Ligand (RANKL) Inhibitor.
- By Route of Administration: Oral, Injectable, Others.
- By Distribution Channel: Hospitals Pharmacies, Online Pharmacies, and Retail Pharmacies.
Key players are dominating in the global and China osteoporosis drugs market such as Eli Lilly, Merck & Co., Enzo Biochem, Inc., Procter & Gamble, Novartis, Sanofi-Aventis, Wyeth, GlaxoSmithKline, Roche, Amgen, UCB, Bone Biologics, BeiGene Co., Ltd., JHL Biotech Inc., Keros Therapeutics, Taro Pharmaceuticals Inc., and Teijin Pharma Limited.
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Key market players are focusing on the acceptance and introduction of novel products due to broaden their product range. For instance, in May 2020, Teijin Pharma Limited, a partner of Radius Health, Inc., submitted a New Drug Application for abaloparatide-SC in Japan for the treatment of osteoporosis in patients at high risk of fractures.
Moreover, in April 2019, Amgen and UCB received the U.S. Food and Drug Administration approval for EVENITY (romosozumab-aqqg) for the osteoporosis treatment in postmenopausal women at high risk for fracture.About Us:
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