The Osteoporosis Drugs Market is expected to climb up the ladder of persistence in the next decade. With various healthcare apps on the anvil, there are also mindfulness apps being tabled. They fall in the category of “Wellness apps”. With the world wishing for the post-Covid era to function smoothly, these wellness apps are expected to take the healthcare vertical by storm further.
The Osteoporosis Drugs Market is estimated to stand tall amidst digitization in the forecast period. Healthcare IT would be the one creating ripples all through. As of now, it’s merely 60% of the hospitals all across have a mobile device policy. With MDM (mobile device management), asset management/maintenance, remote device wiping, and data encryption to be incorporated in the future, the healthcare vertical is likely to go great guns in the forthcoming period.
The global osteoporosis drugs market is valued at US$ 12.5 Bn at present, and is expected to progress at a modest CAGR of 3.8% from 2021 to 2031, to account for US$ 18 Bn by 2031.
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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.
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.
Company Profiles:
- Eli Lilly and Company
- F. Hoffmann-La Roche Ltd.
- Merck & Co, Inc.
- Novartis AG
- Amgen, Inc.
- Novo Nordisk A/S
- Actavis plc
- Pfizer, Inc.
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Ltd
- Other
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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 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 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.
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 1/2 of the world’s osteoporosis hip fractures would occur in women in Asia.
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