The global osteoporosis drugs market was valued at $8,835.4 million in 2015 and it is expected to grow at a CAGR of 3.8% during 2016-2022. Among the various classes of osteoporosis drugs, the rank ligand inhibitor segment is expected to witness the fastest growth, a CAGR of 4.3% during the forecast period.
The global osteoporosis drugs market is growing at a significant rate due to growing geriatric population, increasing awareness of osteoporosis and increasing healthcare expenditure. The increasing prevalence of osteoporosis in postmenopausal women and the increasing focus on research & development of new drugs for treatment of osteoporosis are also driving the growth of the global osteoporosis drugs market.
Osteoporosis disease is the most common bone disease, which occurs due to reduced bone mineral density and causes increased risk of fractures and fragile bones. It leads to abnormally porous bones such as sponge, which facilitate the weakening of bones and painful fracture. Most of the spine, hip, shoulder and forearm fractures occur within aged people of 65 years and above.
Some of the signs and symptoms of the osteoporosis are falling risk and fractures. Diagnostic tests of osteoporosis include X-Ray test and traditional radiography tests, which is further confirmed by bone density test. Osteoporosis disease can be managed by nutrition emphasis, lifestyle management and medicines. The factors such as strict regulatory requirement for the approval of osteoporosis drugs, patent expiry of blockbuster drugs, and side-effects and complications associated with osteoporosis drugs are inhibiting the growth of the global market.
Geographically, North America dominated the global market of osteoporosis drugs in 2015; whereas the Asia-Pacific market is expected to witness the fastest growth, a CAGR of 4.2% during the forecast period. This is due to the growing geriatric population, increasing awareness of osteoporosis drugs and increasing healthcare expenditure in the region.
Some of the key companies operating in the global osteoporosis drugs market include Eli Lilly and Company, Pfizer Inc., F. Hoffmann-La Roche, Novartis International AG, Merck & Co. Inc. and Amgen Inc.
News Courtesy: P&S Market Research