Why Is Osteoporosis Drugs Market Growing with Rising Awareness?


Posted May 27, 2021 by PSMarketResearch12

Osteoporosis drugs market at a CAGR of 3.8% in the forecast period (2016–2022). At this growth rate, the market size is expected to reach $11,482.1 million by 2022 from $8,835.4 million in 2015.
 
A number of factors, such as the surging prevalence of osteoporosis in females, growing awareness about the disease and its treatment, rising investments by market players for the development of drugs, and increasing expenditure on healthcare, are projected to boost the growth of the osteoporosis drugs market at a CAGR of 3.8% in the forecast period (2016–2022). At this growth rate, the market size is expected to reach $11,482.1 million by 2022 from $8,835.4 million in 2015.

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The key trend being observed in the market is the rising awareness among people across the world about osteoporosis. The awareness is mainly increasing due to the initiatives being taken by government and private organizations, such as seminars, conferences, workshops, campaigns, and programs. For instance, an association working in the field of osteoporosis in the U.S., the National Osteoporosis Foundation, observes May as the National Osteoporosis Month, to improve the awareness about the complications, effects, and treatment of this disease.

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Another key factor driving the demand for osteoporosis drugs is the surging healthcare expenditure across the globe. The expenditure on research and development (R&D) is increasing for better osteoporotic treatment and care. Moreover, the growing awareness about the drugs for treating the indication is pushing the players operating in the market to collaborate with government research organizations, healthcare facilities, and academic institutes, for improving their R&D activities in this area. These factors are projected to boost the growth of the market during the forecast period.

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The osteoporosis drugs market is quite competitive in nature, owing to the presence of several key players who have a large product portfolio. The players are developing highly efficient drugs for the management of osteoporosis. These companies are additionally adopting strategies such as mergers and acquisitions to improve their market position. The key market players include F. Hoffmann-La Roche, Eli Lilly and Company, GlaxoSmithKline plc, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis International AG, Radius Health Inc., Merck & Co. Inc., and Amgen Inc.

Thus, the increasing prevalence of osteoporosis and the surging healthcare expenditure across the globe are expected to propel the growth of the market during the forecast period.
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Issued By Pramod Kumar
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Country United States
Categories Industry , Reports , Research
Tags osteoporosis drugs market , osteoporosis drugs market demand , osteoporosis drugs market grwoth , osteoporosis drugs market share , osteoporosis drugs market size , osteoporosis drugs market trends
Last Updated May 27, 2021