Global Bone pain treatment Market – Overview
The pain caused in the bone due to any reason is known as bone pain. Bone pain can occur due to various reasons like accidents or by any diseases conditions. Some time in several conditions, it is difficult to examine the cause of bone pain and so diagnostic methods like CT scan, MRI, bone scanning and many more are implemented. According to International Osteoporosis Foundation, globally osteoporosis causes more than 8.9 million fractures annually and resulting in an osteoporotic fracture every 3 seconds. Increasing prevalence of orthopedic diseases and growing aging population across the world is the major reason for the growth of bone pain treatment market. Furthermore, poor diet in low underdeveloped countries, rising incidents of accidents and continuous development in the technology has also influence the growth of the market. Cancer has been one of the major reasons for the growth of this market. Usually, when cancer has metastasized to the bone it is categorised by either the breakdown of the bone; osteolytic, the formation of bone; osteoblastic, or both. However, side effects of the drugs and expensive R&D activates has hampered the growth of the market.
The market is forecasted to demonstrate a high growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017 – 2023.
Global bone pain treatment market is expected to grow at a CAGR of 9.8% during forecasted period 2017-2023.
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Top Key Players
- Eli Lilly and Company
- Amneal Pharmaceuticals
- Novartis International AG
- Marksans Pharma
- Debiopharm Group
- Farmson Pharmaceutical Gujarat
- Qingdao Hiseeking Enterprises
They are some of the prominent players at the forefront of competition in the Global Bone pain treatment Market and are profiled in MRFR Analysis.
Global Bone pain treatment Market -Segmentation
Global bone pain treatment is segmented on the basis of condition, into bone cancer, osteoporosis, infectious diseases and other. Bone cancer is further segmented into primary bone cancer and secondary bone cancer. Primary bone cancer is sub segmented into osteosarcoma, chondrosarcoma, ewing tumor and other.
On the basis of treatment, the market is segmented into drug treatment, cryosurgery, radiotherapy, surgical treatment. Drug treatment are further segmented into chemotherapeutic agents, NSAIDS, antibiotics, antidepressant and other. And on the basis of end users, they are segmented into hospitals, clinics and other.
Global Bone pain treatment Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global market of Bone pain treatment appears to be highly competitive and fragmented. With well-established market in the Americas region major companies like Eli Lilly and Company, Amneal Pharmaceuticals LLC, Amgen, Inc, Actavis plc, Pfizer Inc, and various others have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
Moreover, companies are focusing on the new product developments which will are more cost effective. Some major companies have adopted the strategies of acquisitions and strategic alliances with other small and medium companies for the growth of the market.
Global Bone pain treatment Market – Regional Analysis
Global Bone pain treatment market is segmented on the basis of geographies or regions which mainly includes Americas, Europe, Asia Pacific, and Middle East & Africa. Americas is dominating the global market for bone pain treatment with more than 40% share of the total market in 2016. The major factors influencing the growth of the market include increasing prevalence of bone cancer and other bones related diseases. In 2016, according to American Cancer Society, approximately 3,450 new cases of bone cancer were diagnose in 2018. According to Centers for Disease Control and Prevention, approximately 30% individuals with age 65 and above are suffering from osteoporosis. The increasing incidence of osteoporosis in this region is the major factor for the growth of the market. North America accounted for the major share of the market including the countries like U.S. and Canada. According to International Osteoporosis Foundation, 44 million and more individuals are suffering from minor or major bone problems and in Canada about 1.4 million people are suffering from osteoporosis. This increasing number of people suffering from osteoporosis have influenced the growth of the market.
Europe holds the second largest share of the global bone pain treatment market. Asia Pacific is the fastest growing bone pain treatment market across the globe. With changing healthcare reforms and increasing healthcare spending in the region the market is expected to grow at the fastest CAGR during the forecasted period.
The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
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