According to the latest report by IMARC Group, titled "Osteoporosis Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global osteoporosis drugs market size grew at a CAGR of around 5% during 2015-2020. Osteoporosis refers to a medical condition that weakens the bone tissues, rendering them brittle and prone to sudden and unexpected fractures. Characterized by lower bone mass, it can cause deterioration of strength in the hip, spine or wrist. It can be diagnosed with the help of X-ray scans, computed tomography (CT) and magnetic resonance imaging (MRI). Upon detection, various drugs are prescribed to the patient that assist in repairing microscopic defects in bones and minimizing the risk of fractures. These medicines can also be used to restore the balance of resorption and formation, thereby enhancing the overall muscle strength in patients.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Osteoporosis Drugs Market Trends:
The global market is majorly driven by the rising prevalence of osteoporosis among the masses. This can be accredited to the increasing consumption of tobacco and alcohol and the lack of physical activities among individuals. The increasing incidences of rheumatoid arthritis and menopause among the female population act as a contributing factor to the escalating number of cases of osteoporosis across the globe. Moreover, there has been a considerable rise in the geriatric population that is more susceptible to developing bone-related disorders, which is creating a positive outlook for the market. This is also supported by the growing awareness among the masses regarding the availability of cost-efficient treatment plans across the healthcare sector. Furthermore, extensive research and development (R&D) activities conducted by players have led to the development of drugs that offer enhanced efficacy. There has also been a rise in the number of pipeline drugs in clinical trials with a high probability of approval in the near future. Coupled with the increasing healthcare expenditure, this is anticipated to create a positive outlook for the market. On account of the aforementioned factors, the market is expected to witness moderate growth during 2021-2026.
- On the basis of the product type, the market is divided into bisphosphonates, calcitonin, rank ligand inhibitor, parathyroid hormone therapy (PTH), selective estrogen receptor modulators (SERMS), sclerostin inhibitor, and others.
- Based on the route of administration, the market has been classified into oral, injectable and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amgen Inc., Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Merck & Co. Inc., Novartis AG, Pfizer Inc., Radius Health Inc., Teva Pharmaceutical Industries Ltd., and UCB S.A.
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