A new research report published by Transparency Market Research states that the global osteoporosis drugs market is expected to reach US$8.9 bn by the end of 2020. It was valued at US$8.4 bn in 2013 and is progressing at a CAGR of 1.2% within a forecast period from 2014 to 2020,The latest report to be added by the market intelligence agency is titled “Osteoporosis Drugs Market – Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends & Forecast 2014 – 2020.” It describes the key factors that will influence this market through the given forecast period.
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Osteoporosis is a highly common chronic illness that can range in seriousness from impeding daily life to being life-threatening. When a person suffers from osteoporosis, he or she undergoes a restructure of their bones due to a lack of bone density and mass. As a result, the patient can suffer from serious injuries and bone fractures over time.
The primary driver for the global osteoporosis drugs market, as stated in the report, is the rapidly growing prevalence of the disease across the world. This increase in the patient pool is mostly created by the increasing percentage of the geriatric demographic, which is the most susceptible demographic to osteoporosis.
From the therapeutic side, the global osteoporosis drugs market is being propelled by the recent advancements in drug therapies and the introduction of innovative drugs to the pipeline. Osteoporosis currently cannot be treated by direct surgical procedures, making drug therapies the primary mode of treatment.
The report provides an in-depth analysis of the global osteoporosis drugs market on the basis of several market segments based on the categories of drug class and geography.
In terms of drug class, the report validates the major segments of calcitonin, RANK Ligand inhibitors, SERMs, PTH drugs, bisphosphonates, and others. This category additionally includes an analysis of the global osteoporosis drugs market’s pipeline in order to correctly assess the future prospects in the market.
Bisphosphonates dominated the global osteoporosis drugs market in 2013, with a share of 48.2%. The analysts of the report, however, add that this segment will experience a loss of share during the forecast period, owing to the high severity of side effects linked to it. Furthermore, the decline of the drug with the largest revenue stream – Fosamax – is expected to decelerate the global osteoporosis drugs market even more. Despite the major drop in sales, the bisphosphonates segment is expected to be the largest segment in terms of revenue, throughout the forecast period.
The report’s geographical analysis suggests that Asia Pacific will show the fastest growth rate in the given forecast period. North America, the dominant region in 2013, is expected to continue leading the market for the time being, owing to significantly higher patient numbers.