The osteoporosis drugs market is growing due to the rising geriatric population, increasing incidence of osteoporosis in post-menopausal women, prevalence of osteoporosis in general, and unhealthy lifestyle resulting in poor bone health. The market valued $8,835.4 million in 2015, and is projected to advance at a 3.8% CAGR during the forecast period (2016–2022), garnering $11,482.1 million by 2022. Osteoporosis is a progressive disease of the bones, in which the bone density is reduced. The drugs which are used to treat this disease and prevent fractures are termed as osteoporosis drugs.
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The major factor contributing to the growth of the osteoporosis drugs market is rapid urbanization, leading to drastic changes in the environment and people’s lifestyle. As per the World Health Organization figures, currently over 50.0% of the world’s population resides in urban areas, which is expected to grow to 70.0% by 2050. Urbanization at such a large scale has left a negative impact on the environment, as a result, affecting people’s health. Unhealthy habits, such as inadequate physical activity, smoking, tobacco and alcohol consumption, and low calcium diet, also affect the bone health.
The region segment of the osteoporosis drugs market is classified into Asia-Pacific (APAC), Europe, North America, and Rest of the World. In 2015, accounting for over 41.8% market share, North America was the largest market. It generated $3,694.8 million in 2015, and is projected to advance at a 3.7% CAGR during the forecast period. However, the fast growth during this period is predicted to be witnessed by the APAC region. This can be attributed to the increasing geriatric population, changing lifestyle, and rapid urbanization in the region.
Hence, with more people falling prey to this degenerative disease, the market for osteoporosis drugs would continue to flourish.
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