Market Research Future has starting late imparted another examination to its wide research portfolio, which is titled as “Bone Pain Treatment Market Research Report- Global Forecast To 2022” gives an all-around examination the measure of market size and advancement
Bone pain can occur because of numerous reasons namely due to accidents or by any diseases conditions such as cancer, osteoarthritis, etc. In severe cases, it becomes difficult to predict the cause of bone pain and so diagnostic methods like CT scan, MRI, bone scanning and many more are performed. The increasing prevalence of bone-related diseases and increasing incident of accidents across the globe are major drivers for the growth of the global bone pain treatment market. For instance, as per the data mentioned by the International Osteoporosis Foundation, osteoporosis causes approximately more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds worldwide. Moreover, according to the Centers for Disease Control and Prevention, by 2040, approximately 78 million U.S. adults aged 18 years or above are anticipated to have doctor-diagnosed arthritis. In addition, lack of necessary dietary supplements can lead to bone pain and fragility making bone susceptible to fractures.
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On the other hand, side effects of the drugs, long approval time for new drugs and expensive R&D activities may hamper the growth of the market during the assessment period. The global bone pain treatment market is anticipated to grow at a CAGR of 9.8% during forecasted period 2017-2023.
Global bone pain treatment market is a dominated by major players. The prominent market players are involved in various strategic approaches such as acquisitions, partnerships, mergers and new product launches to strengthen their market position.
Eli Lilly and Company, Amneal Pharmaceuticals LLC., Actavis plc, Novartis International AG, Marksans Pharma, Amgen, Inc., Debiopharm Group, Pfizer Inc., Eli Lilly, Farmson Pharmaceutical Gujarat Pvt. Ltd., Qingdao Hiseeking Enterprises Co. Ltd. and others are some prominent players in the global bone pain treatment market.
Bone Pain Treatment market has been segmented on the basis of drugs which comprise of ibuprofen (Advil) or acetaminophen (Tylenol), Paracetamol and morphine. On the basis of Antibiotics, market is segmented into ciprofloxacin, clindamycin, or vancomycin.
On the regional basis, global bone pain treatment market is segmented into four major regions namely, America, Europe, Asia Pacific and Middle East & Africa. Americas is expected to account for the largest share in the global bone pain treatment market which is followed by Europe. The market growth of America and Europe is majorly anticipated by the presence of well-developed healthcare sector, growing prevalence of bone-related diseases and bone cancer, increasing aging population and government support for the research and development. For instance, according to the American Cancer Society, approximately 3,300 new cases of bone cancer were diagnosed in 2016.
Asia Pacific is anticipated to be the fastest growing market for bone pain treatment. The market growth is attributed to the presence of huge geriatric population and increasing incidents of accidents. For instance, according to the United Nations Population Division, older population in India is increasing continuously. The share of India’s population ages 60 and older are projected to increase from 8 percent in 2010 to 19 percent in 2050.
The Middle East and Africa has the lowest market for the bone pain market due to limited development in the medical sector and presence of many poor countries.
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