The ”North America osteoporosis treatment market“ size is expected to gain momentum by reaching USD 8.29 billion by 2027 while exhibiting a CAGR of 6.6% between 2020 and 2027. This is attributable to the increasing prevalence of osteoporosis and the growing number of government approvals for the therapeutic drugs that are propelling the demand in the North America osteoporosis treatment options. Fortune Business Insights in its latest report, titled, “North America Osteoporosis Treatment Market Size, Share & Covid-19 Impact Analysis, By Drug Class (Bisphosphonate, Hormone Replacement Therapy, Selective Estrogen Receptor Modulator (SERMs), RANK ligand (RANKL) Inhibitor, and Others), By Route of Administration (Oral, and Parenteral); By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies & Stores, and Online Pharmacies), 2020-2027.”, mentions that the market stood at USD 5.18 billion in 2019.
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COVID-19 Impact: Market to Experience a Sluggish Growth at 2.3% CAGR in 2020
The COVID-19 pandemic has led to the healthcare systems and hospitals to divert their complete focus on treating people suffering from the disease. In contrast, several elective medical procedures and osteoporosis treatment appointments have either been canceled or postponed. Based on our analysis, the market will exhibit a slow growth at 2.3% CAGR in 2020 due to the aforementioned reasons. However, the market will return to normalcy once the pandemic is over.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Osteoporosis is a type of medical condition that occurs when the bone synthesis gets interrupted and if left unattended, often may lead to a fracture. In addition to this, the condition leads to brittle and lower density of bones and is mostly common in the older population, along with women.
What does the Report Provide?
The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will have an impact on the market. Furthermore, the report includes significant insights into the regional insights that include different regions, which are contributing to the market growth. It includes the competitive landscape involving the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, collaborate, and acquire other companies that will contribute to the market growth during the forecast period. Moreover, the research analyst has adopted several research methodologies such as Porter’s five forces analysis to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
DRIVING FACTORS
Increasing Incidence of Osteoporosis to Promote Growth
According to the National Institute of Health (NIH), around 10 million Americans aged 50 and older suffer from osteoporosis of the hip. The increasing prevalence of this disease that results in the deformity and fragile nature of the bones is expected to boost the demand for the market for North America osteoporosis treatment. Moreover, several companies are focusing on developing novel therapeutic solutions leading to the growing approvals by the U.S. FDA in treating osteoporosis will contribute to the North America osteoporosis treatment market growth in the forthcoming years.
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SEGMENTATION
Parenteral Segment to Showcase Exponential Growth
Based on the route by administration, the parenteral segment is expected to hold a significant North America osteoporosis treatment market share due to increasing R&D activities by the healthcare companies to develop novel parenteral drugs during the forecast period.
COUNTRY INSIGHTS
Presence of Established Players in the U.S. to Feed Market Growth
Geographically, the U.S market stood at USD 4.98 billion in 2019 and is expected to hold the highest position in the North American market in the forthcoming years. This is ascribable to factors such as presence of established players such as AbbVie Inc., Pfizer Inc., and Amgen Inc. that play a pivotal role in the North America osteoporosis treatment solutions development.
The market in Canada is anticipated to experience considerable growth backed by the increasing prevalence of osteoporosis and supportive government policies to educate the people regarding therapeutic treatment solutions between 2020 and 2027.
COMPETITIVE LANDSCAPE
Collaboration between Eminent Companies to Brighten Their Market Positions
The market for North America is experiencing proactive competition between major companies that are collaborating with other companies to expand their product portfolio and boost sales revenue. Furthermore, other key players are adopting organic and inorganic strategies such as partnership, the introduction of novel products, and merger and acquisition that will bode well for the growth of the market for North America.
Industry Development:
- August 2020 – Celltrion Healthcare Co., Ltd commenced the Phase 1 trial of Denosumab Biosimilar, a monoclonal antibody injection adopted in the management of osteoporosis. The company has invested in R&D to develop novel therapeutics solutions for the treatment of the disease.
List of the Companies Profiled in the Market:
- AbbVie Inc. (North Chicago, Illinois, U.S.)
- Eli Lilly and Company (Indianapolis, Indiana, U.S.)
- Amgen Inc. (Thousand Oaks, California, U.S.)
- Hoffmann-La Roche Ltd (Basel, Switzerland)
- Novartis AG (Basel, Switzerland)
- Sanofi (Paris, France)
- Pfizer Inc. (Brooklyn, New York, U.S.)
- Merck & Co., Inc. (Kenilworth, New Jersey, U.S.)
- GlaxoSmithKline plc (Brentford, U.K)
- Alcon (Geneva, Switzerland)
- Other Prominent Player
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Osteoporosis, Key Countries, 2019
- Technology Advances, Osteoporosis Market
- New Product Launches, Key Players
- Key Developments, Mergers, Acquisitions, etc.
- Impact of Covid-19 on the Market
- North America Osteoporosis Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Bisphosphonate
- Hormone Replacement Therapy
- Selective Estrogen Receptor Modulator (SERMs)
- RANK ligand (RANKL) Inhibitor
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Cardiovascular
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies & Stores
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
Global North America Osteoporosis Treatment Market Segmentation :
By Drug Class
- Bisphosphonate
- Hormone Replacement Therapy
- Selective Estrogen Receptor Modulator (SERMs)
- RANK ligand (RANKL) Inhibitor
- Others
By Route of Administration
- Oral
- Parenteral
By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies & Stores
- Online Pharmacies
By Geography
- The U.S.
- Canada
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