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.
The osteoporosis drugs market is observing the trend of increasing awareness about the disease and its possible management and treatment methods. With the rising incidence of osteoporosis, many organizations are focusing on creating awareness among the masses regarding it via various campaigns and programs. For instance, the International Osteoporosis Foundation has tasked itself with making people aware about the disease as well as bone health. For the same purpose, Nestlé partnered with the foundation to spread awareness about the preventive measures for osteoporosis.
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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.
The region segment of the osteoporosis drugs market is classified into Asia-Pacific (APAC), Europe, North America, and Rest of the World. In 2015, accounting for over 41.8% market share, North America was the largest market. It generated $3,694.8 million in 2015, and is projected to advance at a 3.7% CAGR during the forecast period. However, the fast growth during this period is predicted to be witnessed by the APAC region. This can be attributed to the increasing geriatric population, changing lifestyle, and rapid urbanization in the region.
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