Transparency Market Research (TMR) has published a new report titled, ‘Osteoporosis Drugs Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Osteoporosis Drugs market was valued at US$ 11.5 Bn in 2018 and is projected to contract at a CAGR of 0.3% from 2019 to 2027. Overview
Osteoporosis is a chronic and life-threatening disease, in which microstructure of bones is altered due to reduction in bone mass and bone density. This condition leads to increased bone fragility and threat of bone cracks and fractures. Thus, osteoporosis is considered life threatening due to severe injury and associated pain. Elevation in threat of bone cracks and introduction of new drug therapy classes are the factors that are fuelling the growth of osteoporosis drugs market. Since there is no distinct substitute available to treat osteoporosis (such as, surgery), the drugs therapy is an inevitable part of osteoporosis treatment
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Growing aging population leads for higher prevalence of osteoporosis which brings more growth opportunities for osteoporosis drugs market. North America dominated the global osteoporosis drugs market in 2018 and the trend is anticipated to continue during the forecast period. Higher osteoporosis incidence & prevalence rate, presence of major companies, and better diagnosis rate for the diseases are some of the major factors to dive the market in this region.
Rise in prevalence of osteoporosis across the globe to Drive Market
Higher incidence & prevalence of osteoporosis across the world is the major driver for the growth of global osteoporosis market. For instance, according to International Osteoporosis Foundation, Osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds and also it is estimated to affect 200 million women globally. Moreover growing aging population aged above 50 years are at the greatest risk of developing osteoporosis and related fractures due to hormonal changes. So this rise in aging population also fuelling the growth of global market. Development of novel approaches for the treatment of osteoporosis by new drugs and increase in awareness among people for the early diagnosis & treatment are also some of the major factors for the growth of this market.
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