Osteoporosis Drugs Market To Register Noteworthy Growth, Revenue To Surge To US$ 14.30 Bn By 2021
With the presence of a large pool of participants, the global osteoporosis drugs market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Companies such as F. Hoffmann La Roche Ltd., Merck & Co Inc., Novartis International AG, Novo Nordisk A/S, and Amgen Incorporation are some of the key vendors of osteoporosis drugs across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the osteoporosis drugs market study.
In a key boost to the global osteoporosis drugs market, on August 3, 2018, NIBEC (Nano Intelligence Biomedical Engineering Corporation) claimed that it successfully completed pre-clinical tests for its peptide-related osteoporosis therapy. The company sources further clarified that the firm is planning to apply for non-clinical as well as Phase 1 trials in the near future.
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As estimated in this report, the global osteoporosis drugs market stood at US$ 11.20 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in osteoporosis drugs market is expected to reach US$ 14.30 billion by the end of the forecast period. The main products available in this osteoporosis drugs market are bisphosphonates, rank ligand inhibitors, selective estrogen receptor modulators, and parathyroid hormone therapy. Among them, the demand for bisphosphonates is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Rising Geriatric Population Prone To Bone Disorders To Drive Market Growth
“Rampant increase in elderly population along with altering lifestyles impacting bone health is anticipated to succor the growth of osteoporosis drugs market over the years ahead,” says the author of this study. Apart from this, growing incidences of osteoporosis witnessed in post-menopausal women is likely to amplify the osteoporosis drugs market expansion in the near future.
Reportedly, various complications & side-effects such as nausea, irritable bowel syndrome, stomach ulcers, and heartburn are witnessed in the patients after consumption of osteoporosis drugs. These side-effects are predicted to restrain the industry expansion over the forthcoming years. Nevertheless, persistent focus of industry players on developing new drugs that will help in minimizing the side-effects and high investments in R&D activities pertaining to new drug discovery are likely to create new growth opportunities for the osteoporosis drugs market, thereby normalizing the impact of hindrances on osteoporosis drugs market, reports the study.
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Presence of Advanced Healthcare Infrastructure to Support North America Maintain Dominance
Regionally, North America has been leading the worldwide osteoporosis drugs market and is anticipated to continue on the dominant position in the years to come, states the market study. The presence of a well-established medical and healthcare infrastructure as well as drug delivery system is the main factor behind the dominance of the North America osteoporosis drugs market. In addition, sizable investments in the healthcare activities and favorable R& D policies of the government towards the osteoporosis drug applications will further augment the osteoporosis drugs market growth.