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The Osteoporosis Drugs Market Share is all set to witness a CAGR of 4% and reach US$14,786.7 Million between 2022. The present-day scenario is such that mobile technology has elevated patient care and empowered clinicians. The scenario is expected to continue even going forward. Tech-savvy patients have emerged and transformed the healthcare vertical digitally.
According to a new market report published by Persistence Market Research “Global Market Study on Osteoporosis Drugs: AsiaPacific to Witness Highest Growth by 2022”, the global osteoporosis drugs market is estimated to be valued at US$11,226.1 Mn by the end of 2015 and is expected to expand at a CAGR of 4.0% from 2014 to 2022, to account for US$14,786.7 Mn by 2022.
The global osteoporosis drugs market is witnessing significant growth due to rising geriatric population and changing lifestyles impinging bone health. Prevalence of osteoporosis is high among people aged 60 years and above. Moreover, increasing the prevalence of osteoporosis in postmenopausal women, growing awareness about osteoporotic care, and increasing investment in drug discovery and development are also driving the growth of the market.
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However, there are various side effects and complications associated with osteoporosis drugs such as heartburn, irritable bowel syndrome, nausea, and ulcers in the stomach or esophagus. Furthermore, patent expiration of osteoporosis drugs also inhibits the growth of the market.The osteoporosis drugs market is anticipated to grow from an estimated US$11,226.1 Mn by the end of 2015 to account for US$14,786.7 Mn by 2022 at a CAGR of 4.0% during the forecast period.
In North America, the prevalence of osteoporosis is high primarily due to increasing geriatric population, growing obesity, and rising prevalence of lifestyle associated diseases in the region. According to the National Osteoporosis Foundation, in 2013, approximately 54 million people in the U.S. aged 50 years and above were affected by osteoporosis and low bone mass. According to the U.S. Department of Health and Human Services, in the U.S., approximately 250,000 hip fractures are associated with osteoporosis.
In Europe, increasing aging population, changing lifestyles, and increasing consumer awareness about osteoporosis care are driving the growth of the osteoporosis drug market. According to the International Osteoporosis Foundation, approximately 5.5 million men and 22 million women suffered from osteoporosis in 2010. Moreover, according to International Osteoporosis Foundation, approximately 27.5 million people in Europe suffered from osteoporosis in 2010 and the number is expected to reach 33.9 Mn by 2030.
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However, the growth of osteoporosis market in Asia Pacific is much due to rising geriatric population and changing lifestyles in the region. Osteoporotic patients have a higher risk of hip fractures, owing to a major cause of morbidity and mortality.
According to the International Osteoporosis Foundation, by 2050, approximately 50% of the world’s osteoporosis hip fractures would occur in women in Asia. In addition, according to a study on Epidemiology in Osteoporosis in Japan by the National Centre for Biotechnology Information, in 2011, approximately 15 million people suffered from osteoporosis in Japan.
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