The global osteoporosis drugs market is analyzed in a report by Transparency Market Research (TMR). The market is expected to grow due to the increasing geriatric population across the globe. The market for osteoporosis drugs is considered semi-consolidated as a handful of players hold a larger share in the market. As per the analysis, Novartis International AG, Eli Lilly and Company, Merck & Co. Inc., Pfizer Inc., and Amgen Inc. held 63% of the total market share. The availability of effective products by these companies has enabled them to establish a stronghold in the market. Companies providing generic drugs that have the same active pharmaceuticals ingredient (API) are significantly contributing in the osteoporosis drugs market. The companies producing generic drugs are Teva Pharmaceutical Industries Ltd., Novo Nordisk A/S, F. Hoffmann La Roche Ltd., and Actavis plc.
As per the analysis done by TMR, by drug class the bisphosphonates segment is the fastest growing segment in the osteoporosis drugs market during the forecast period. Geographically, North America is the leading the global osteoporosis drugs market, mainly due to increased number suffering from osteoporosis. Technological advancements and increasing awareness about the disease have also grown in this region. Increasing population in the Asia Pacific will also boost the demand for osteoporosis drugs market in the forecast period.
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Demand for Osteoporosis Drugs High Among Geriatric Population
Osteoporosis develops due to increasing pores in the bones. As the density in the bones increases. It makes the bones weaker and breakable. Thus, increasing the risk of fractures, mainly in wrist, hip, and spinal vertebrae.