Osteoporosis Drugs Market
Human skeleton has changed drastically during the thousands of years of evolution. According to the research pubished in the PNAS (Proceedings of the National Academy of Sciences of the United States of America), a multidisciplinary science journal, the advent of agriculture and the subsequent change of human lifestyles from hunter-gatherers to farming-based have caused a considerable reduction in the weight of the human skeleton. Moreover, this has caused a sharp reduction in the bone densities of humans.
Apart from causing a major change in diets, agriculture also reduced the human dependence on running and walking for surviving, which, in turn, caused a huge reduction in the physical capabilities of humans including their bone strength. The advent of machines, the rise of industries and urbanization, and the advent of computers have further reduced the human dependence on physical labor for survival and as a result, our skeletons becoming progressively weaker with each passing generation.
According to the World Health Organization (WHO), over 50% of the population in the world currently live in urban areas and this share is predicted to rise to 70% by 2050. This rapid urbanization is giving rise to sedentary lifestyles and unhealthy eating habits, which are, in turn, fueling the rise in the prevalence of osteoporosis across the world. Osteoporosis is a bone condition that occurs when the human body makes too little bone or loses too much bone.
This condition drastically increases the chances of bone fractures and therefore,
requires immediate medical treatment. As osteoporosis drugs are widely used for treating this disorder, the growing incidence of this disease is pushing up the requirement for osteoporosis drugs all over the world. Many research organizations and academic institutions are making huge investments for facilitating faster discovery and development of osteoporosis drugs, because of the rising need for enhanced osteoporosis care and the ballooning public awareness about these drugs.
Hence, with the mushrooming sales of osteoporosis drugs around the world, the global osteoporosis drugs market will exhibit huge expansion in the coming years, as per the estimates of P&S Intelligence, a market research firm. Selective estrogen receptor modulator (SERM), calcitonin, bisphosphonates, rank ligand inhibitor, and parathyroid hormone therapy are the most commonly used types of osteoporosis drug classes. Amongst these, the sales of the bisphosphonates drug class were observed to be considerably high in the years gone by.
Globally,
the North American osteoporosis drugs market is currently very prosperous and is predicted to exhibit lucrative growth in the future years. According to industry experts, the sales of osteoporosis drugs will rise tremendously in the Asia-Pacific (APAC) region in the forthcoming years, on account of the presence of a soaring geriatric population suffering from osteoporosis and the rising adoption of unhealthy lifestyles, which negatively impact the bone health of people.
Across the globe, the incidence of osteoporosis is surging rapidly, primarily because of the growing adoption of unhealthy and sedentary lifestyles and dietary habits of people, owing to the rising urbanization rate. As per the World Health Organization (WHO), over 50% of the population across the world currently reside in urban areas and this share will rise to 70% by 2050. Moreover, with increasing work hours and long working schedules, people are not finding the time to exercise and take care of their physical health.
osteoporotic care and growing public awareness about the availability of various drugs, many osteoporosis drug producers are actively focusing on developing drugs that can manage the disease. Additionally, many osteoporosis drugs market players are announcing collaborations with government-funded research organizations, academic institutions, and patient organizations for accelerating their drug development projects and processes.
Apart from the above-mentioned factors, the surging population of geriatric people is also fueling the demand for these drugs.
According to the World Population Aging 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As geriatric people are highly vulnerable to bone fractures and suffer from low bone density, their soaring population is augmenting the worldwide sales of osteoporosis drugs.
Selective estrogen receptor modulator (SERM), bisphosphonates, rank ligand inhibitor, calcitonin, and parathyroid hormone therapy are the main osteoporosis drug classes. Out of these, the usage of the bisphosphonates class drugs was found to be the highest in the world in 2015. On the other hand, in the coming years, the popularity of rank ligand class drugs is predicted to rise at the fastest pace. Geographically, the demand for osteoporosis drugs was found to be the highest in North America in 2015.
Whereas, the sales of these drugs are expected to soar at the fastest pace in the Asia-Pacific (APAC) region in the coming years.
This is credited to the surging population of geriatric people, growing incidence of osteoporosis, and the rising adoption of unhealthy lifestyles and dietary habits which negatively impact the bone health of people in the region. Additionally, the soaring healthcare expenditure in many regional countries and growing public awareness about the disease are also contributing to the booming sales of osteoporosis drugs in the region.
The key trend being observed in the market is the rising awareness among people across the world about osteoporosis. The awareness is mainly increasing due to the initiatives being taken by government and private organizations, such as seminars, conferences, workshops, campaigns, and programs. For instance, an association working in the field of osteoporosis in the U.S., the National Osteoporosis Foundation, observes May as the National Osteoporosis Month, to improve the awareness about the complications, effects, and treatment of this disease.
The primary factor improving the osteoporosis drugs market growth prospects is the increasing prevalence of osteoporosis.
According to the World Health Organization (WHO) data, around 55% of the population currently lives in urban areas, globally, with the share expected to reach about 68% by 2050. Urbanization leads to an unhealthy lifestyle, which negatively impacts bone health. This results in a large number of individuals suffering from the disease; therefore, the demand for osteoporosis drugs will increase during the forecast period for the treatment of this condition.
Another key factor driving the demand for osteoporosis drugs is the surging healthcare expenditure across the globe. The expenditure on research and development (R&D) is increasing for better osteoporotic treatment and care. Moreover, the growing awareness about the drugs for treating the indication is pushing the players operating in the market to collaborate with government research organizations, healthcare facilities, and academic institutes, for improving their R&D activities in this area. These factors are projected to boost the growth of the market during the forecast period.
Globally, the prevalence of osteoporosis is rising at a striking rate. Further, rapid urbanization also negatively impacts the bone health of individuals. This can be substantiated by the data from the World Health Organization (WHO), which states that more than 50% of the global population currently lives in urban areas, and it is further expected that 70% of the world’s population will live in towns and cities by 2050. This rapid pace of urbanization giving rise to unhealthy lifestyle and eating habits, which are expected to lead to a greater number of people being impacted from this disease, thereby driving the growth of the osteoporosis drugs market.
The drug class segment of the osteoporosis drugs market is categorized into parathyroid hormone therapy,
bisphosphonates, selective estrogen receptor modulator (SERM), calcitonin, rank ligand inhibitor, and others. Among these, the bisphosphonates category accounted for the largest share in 2015 in the market. On the other hand, the rank ligand inhibitor category is projected to observe the highest CAGR in the coming years.
Geographically, the Asia-Pacific (APAC) osteoporosis drugs market is projected to record the fastest growth during the forecast period. This can be attributed to the surging geriatric population, unhealthy lifestyle, and increasing incidence of osteoporosis in the region. Since the declining bone density is a direct result of aging, the elderly are the largest demographic group afflicted with this disease. On the other hand, North America accounted for the largest market share in 2015, and the region is expected to lead the market in the coming years as well.
The osteoporosis drugs market is quite competitive in nature,
owing to the presence of several key players who have a large product portfolio. The players are developing highly efficient drugs for the management of osteoporosis. These companies are additionally adopting strategies such as mergers and acquisitions to improve their market position. The key market players include F. Hoffmann-La Roche, Eli Lilly and Company, GlaxoSmithKline plc, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis International AG, Radius Health Inc., Merck & Co. Inc., and Amgen Inc.
Thus, the increasing prevalence of osteoporosis and the surging healthcare expenditure across the globe are expected to propel the growth of the market during the forecast period.
Therefore, the demand for osteoporosis drugs is certain to shoot up in the coming years, primarily because of the growing prevalence of osteoporosis and the mushrooming population of geriatric people across the world.
Hence, it can be said with surety that due to the ballooning incidence of osteoporosis, on account of the growing adoption of unhealthy lifestyles and consumption of fast foods, the sales of osteoporosis drugs will climb all over the world in the upcoming years.
