A new market study, titled “Osteoporosis Treatment Market Forecast 2021-2028” has been featured on Fortune Business Insights™.
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The global osteoporosis treatment market size is projected to reach USD 15.08 billion by the end of 2026. The emphasis on early detection and treatment of the disease will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Osteoporosis Treatment Market Size, Share & Industry 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 (Hospital Pharmacies, Retails Pharmacies & Stores, and Others), and Regional Forecast, 2019-2026,” the market size was USD 10.74 billion in 2018 and will exhibit a CAGR of 4.3% during the forecast period, 2019-2026.
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Osteoporosis is a medical condition that is characterized by the brittleness and weak nature of the bones within the human body. This condition prevails more among women and people above the age of 65. Osteoporosis is a condition that reduces the bone density; as a result of which the human body is exposed to severe fractures. The severity of osteoporosis, coupled with the high prevalence of the condition has led to a subsequent rise in the emphasis on the research and development of efficient treatment options. The increasing investment on the development of efficient treatment options will bode well for the growth of the market in the coming years.
Increasing Number of Regulatory Approvals Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of regulatory approvals has made the highest impact on the growth of the market. In October 2019, Pfenex Inc. announced that it has received approval from the US Food and Drug Administration for a new injection used in the treatment of osteoporosis. The FDA approved ‘Bonsity’ an injection that is indicated for patients that are exposed to high risks of fracture. Pfenex’s latest approval will help the company to generate substantial osteoporosis treatment market revenue in the coming years.
North America Holds the Highest Market Share; Presence of Several Companies Will Aid Growth
The report analyzes the ongoing osteoporosis treatment market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, North America currently dominates the market. The presence of several companies has made a huge impact on the growth of the market in recent years. As of 2018, the market in North America was worth USD 4.52 billion and this value is projected to increase further in the coming years. Besides North America, the market in Asia Pacific will also witness considerable growth in the coming years, owing to the high prevalence of the disease in several countries across the region.
A few of the leading companies that are currently operating in the market include:
- AbbVie Inc.
- Eli Lilly and Company
- Amgen Inc.
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Pfizer Inc.
- Merck & Co., Inc.
- GlaxoSmithKline plc
April 2019: Amgen Inc. announced that it has received approval from the US FDA for ‘EVENITY,’ a product used in the treatment of osteoporosis in post-menopausal women at high risk of fracture.
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