Patients with osteoporosis are at increased risk of suffering fractures due to a loss in bone strength. These fractures place a considerable burden on public health systems, and significant unmet need remains for osteoporosis therapies that are safer and more efficacious, particularly in reducing the risk of nonvertebral fractures. Growing geriatric population, rising prevalence of the osteoporosis and increasing per capita healthcare expenditure will drive the market growth during the forecast period, from 2017-2022
Furthermore, rising number of initiatives to increase the awareness levels pertaining to osteoporosis care amongst the patients as well as the physicians is expected to widen the osteoporosis market growth potential during the forecast period. For instance, National Osteoporosis Foundation (NOF), a healthcare organization responsible for National Bone Health Alliance and Fracture Liaison Service (FLS) care coordination programs that focuses on elevating awareness levels as well as provides training to healthcare professionals
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Owing to the increasing number of the people suffering from osteoporosis many companies are involved in the manufacturing and introduction of the better and effective treatment and diagnostic options. A number of diagnostic treatment such as imaging (X-rays, magnetic resonance imaging (MRI), bone scan), joint fluid analysis and others are available. However these are not that effective thus, many private and government organizations are providing support to the manufacturer for the development of the new and advanced devices.
The key participants are employing sustainability strategies promoting the adoption of osteoporosis therapeutics to gain competitive advantage. For instance, Actavis Inc. announced to acquire Warner Chilcott PLC in order to widen their product portfolio
The global osteoporosis market is expected to grow with a CAGR of approximately 4.7% during the forecast period from 2017-2022.
May 2017 Ablynx, a biopharmaceutical company headquartered in Belgium, announced the completion of a preclinical package for a novel nanobody, ALX-1141 for the treatment of the osteoarthritis. Merck will now be responsible for further clinical development of the molecule.
Jul 2017, Kolon Pharmaceutical got the approval for the World’s first cell and gene therapy for knee osteoarthritis in Korea.
Aug 2016, Bioventus, a global leader in orthobiologic solutions launched GELSYN-3, a three-injection hyaluronic acid (HA) product for pain relief associated with osteoarthritis (OA) of the knee..
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Global Osteoporosis drugs Market – Regional Analysis
Eli Lilly and Company, Merck & Co., Novartis International AG, Amgen Inc., F. Hoffmann La Roche Ltd., Pfizer Inc., Novo Nordisk, Teva Pharmaceutical Industries Ltd. and others are some of the prominent players at the forefront of competition in the global osteoporosis drugs market and are profiled in MRFR Analysis.
The global osteoporosis drugs market is segmented into five major regions including Americas, Europe, Asia Pacific, and Middle East and Africa region.
America dominates the global osteoporosis market owing to a well-developed healthcare sector and huge patient population for osteoporosis. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America. In 2015, according to the Centres for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion.
Europe is the second largest osteoporosis market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures, well-developed healthcare sector and government support for research & development are projected to drive the market growth during the forecasted period. Regionally, Europe is divided into Western Europe and Eastern Europe. Western Europe hold the major share of the regional market, which is majorly contributed by Germany, the U.K., and France. However, Eastern Europe is the fastest growing region due the huge opportunities in the untapped market.
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Asia Pacific is the fastest growing region in global the market due to the presence of a huge patient population. Moreover, continuously developing economies like India and China, and presence of huge opportunity in the market fuels the market growth. According to Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.87% during the review period to reach USD 280 billion by 2020.
On the other hand, the Middle East & Africa holds the least share in the global osteoporosis market due to presence of poor economy.
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