The osteoporosis drugs market is growing due to the rising geriatric population, increasing incidence of osteoporosis in post-menopausal women, prevalence of osteoporosis in general, and unhealthy lifestyle resulting in poor bone health. The market valued $8,835.4 million in 2015, and is projected to advance at a 3.8% CAGR during the forecast period (2016–2022), garnering $11,482.1 million by 2022. Osteoporosis is a progressive disease of the bones, in which the bone density is reduced. The drugs which are used to treat this disease and prevent fractures are termed as osteoporosis drugs.
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The major factor contributing to the growth of the osteoporosis drugs market is rapid urbanization, leading to drastic changes in the environment and people’s lifestyle. As per the World Health Organization figures, currently over 50.0% of the world’s population resides in urban areas, which is expected to grow to 70.0% by 2050. Urbanization at such a large scale has left a negative impact on the environment, as a result, affecting people’s health. Unhealthy habits, such as inadequate physical activity, smoking, tobacco and alcohol consumption, and low calcium diet, also affect the bone health.
The osteoporosis drugs market is segmented by region and drug type. Based on drug type, the categories are bisphosphonates, calcitonin, parathyroid hormone therapy, rank ligand inhibitor, selective estrogen receptor modulator, and others. In 2015, the bisphosphonates category made up for the largest market share in terms of revenue, and is expected to be the largest revenue generator even during the forecast period. However, the rank ligand inhibitor category would witness the fastest growth in the forecast years.
Hence, with more people falling prey to this degenerative disease, the market for osteoporosis drugs would continue to flourish.
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This post was originally published on Financial Sector