Increase in prevalence of osteoporosis, rapid increase in aging population, and adoption of sedentary lifestyle propel the growth of the global market

PORTLAND, OREGON, UNITED STATES, October 4, 2021 /EINPresswire.com/ -- Increase in prevalence of osteoporosis, increase in the aging population, and adoption of sedentary lifestyle across the world drive the growth of the global osteoporosis drugs market. However, side effects related to osteoporosis drugs and time-consuming approval processes for drugs hinder the market growth. On the other hand, high potential for growth in developing countries would offer new opportunities in the coming years.

According to the report, the global osteoporosis drugs industry was estimated at $7.65 billion in 2018, and is expected to hit $10.47 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

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The demand for osteoporosis drugs is on a rise, owing to surge in incidence of osteoporosis globally. Furthermore, rise in healthcare expenditure leads to easy availability of osteoporosis drugs, which fuels the market growth.

Drivers, restraints and opportunities-

Rise in prevalence of osteoporosis, rapid growth in aging population, and adoption of sedentary lifestyle drive the growth of the global osteoporosis drugs market. On the other hand, side effects of osteoporosis drugs and stringent drug approval process hamper the growth to some extent. Nevertheless, high growth prospects in emerging markets is anticipated to pave the way for multiple opportunities in the near future.

Based on route of administration, the oral segment accounted for nearly three-fifths of the total share in 2018, and is estimated to maintain its lead status throughout the forecast period. However, the injectable segment is estimated to portray the largest growth rate with a CAGR of 4.4% from 2019 to 2026.

Based on region, North America held the largest market share in terms of revenue, contributing to nearly half of the total share in 2018, and is estimated to maintain its dominant share during the forecast period. However, LAMEA is estimated to witness the highest CAGR of 5.5% from 2019 to 2026. Asia-Pacific is expected to maintain a CAGR of 4.4% during the forecast period.

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The oral segment to maintain the lion's share during the estimated period-

Based on route of administration, the oral segment held the major share in 2018, garnering nearly three-fifths of the global osteoporosis drugs market, owing to the large number of osteoporosis medications, which are available as oral drugs in the market. Simultaneously, the injectable segment would manifest the CAGR of 4.4% throughout the forecast period, owing to factors such as rise in need for drugs, which exhibit enhanced bioavailability and act rapidly

North America to lead the trail till 2026-

Based on region, North America accounted for nearly half of the global osteoporosis drugs market share in 2018, and is projected to rule the roost during the study period. Owing to easy availability of osteoporosis drugs and surge in incidence of osteoporosis. At the same time, the LAMEA region would portray the fastest CAGR of 5.5% by 2026. This is attributed to increase in awareness regarding the use of osteoporosis drugs for the treatment of osteoporosis. In addition, the constantly evolving life science industry fuels the growth of the market in the developing economies such as India, China, and Malaysia.

Key market players-

Amgen Inc.
F. Hoffmann-La Roche AG
Radius Health
Merck & Co. Inc.
Novartis International AG (Sandoz)
Pfizer Inc.
Sun Pharmaceutical Industries Ltd.
Takeda Pharmaceutical Company Limited
Teva Pharmaceutical Industries Ltd.

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Allied Analytics LLP
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