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North America Osteoporosis Treatment Market to Reach $8.29 Bn by 2027; Increasing Geriatric Population to Introduce New Trends in the Market

February 19, 2021 | Healthcare

The North America osteoporosis treatment market size is expected to experience exponential growth by reaching USD 8.29 billion by 2027. The growth is attributable to the increasing geriatric population in countries such as the U.S. and Canada that is driving the North America osteoporosis treatment demand during the forecast period. This information is published by Fortune Business Insights in its latest report, titled, “North America Osteoporosis Treatment Market Size, Share & COVID-19 Impact 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 (Hospitals Pharmacies, Retail Pharmacies & Stores, and Online Pharmacies), 2020-2027.” The report further observes that the market stood at USD 5.18 billion in 2019 and is projected to exhibit a CAGR of 6.6% between 2020 and 2027.


International Osteoporosis Foundation (IOF) Announces Novel-type of Partnership to Reduce Osteoporosis Fractures by 25%


In June 2020, the International Osteoporosis Foundation (IOF) announced partnership with UCN, Amgen, and the University of Oxford to Support its Capture the Fracture Program. The primary aim of the program is to reduce vertebral and hip fractures by almost 25% by 2025. This is likely to be achieved by implementing post-fracture care (PFC) programs across several healthcare systems and hospitals to help patients prevent fractures and educate them about the treatment solutions. Such initiatives are expected to contribute to the growth of the market for North America osteoporosis treatment.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/north-america-osteoporosis-treatment-market-104867


Increasing Geriatric Population to Propel Market Growth


As per the report by the U.S. Census Bureau, the population above 65 years of age in the U.S. has increased by over 13.7 million since 2010. The increasing number of geriatric population is likely to lead to the growing number of osteoporosis cases in the U.S. For instance, according to the World Health Organization (WHO), 54% of the U.S. adult population above 50 years and older suffer from fragile bones. This is leading to the increasing adoption of therapeutic solutions in the market for North America osteoporosis treatment. Therefore, the growing geriatric population is likely to boost the North America osteoporosis treatment market growth during the forecast period.


Prominent Companies Focus on Product Innovation to Intensify Industry Competition


The North America market is fragmented by the presence of major companies striving to maintain a stronghold by developing novel therapeutics solutions to gain a competitive edge over their rivals. Moreover, other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence in the market during the forecast period.


Industry Development:



  • April 2019 – UCB and Amgen announced the approval of Evenity (romosozumab-aqqg) by the U.S. Food and Drug Administration (FDA). The drug is likely to be used as a treatment solution for osteoporosis in postmenopausal women that are high risk for facture.  


List of the Companies Profiled in the Market:



  • AbbVie Inc. (North Chicago, Illinois, U.S.)

  • Eli Lilly and Company (Indianapolis, Indiana, U.S.)

  • Amgen Inc. (Thousand Oaks, California, U.S.)

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)

  • Novartis AG (Basel, Switzerland)

  • Sanofi (Paris, France)

  • Pfizer Inc. (Brooklyn, New York, U.S.)

  • Merck & Co., Inc. (Kenilworth, New Jersey, U.S.)

  • GlaxoSmithKline plc (Brentford, U.K)

  • Alcon (Geneva, Switzerland)

  • Other Prominent Player


Further Report Findings:



  • The U.S. market stood at USD 4.98 billion in 2019 and is expected to hold the highest position in the North America market during the forecast period. This is attributable to the increasing prevalence of osteoporosis and the presence of major players that are developing advanced solutions. Enabled by this, the demand for osteoporosis treatment is expected to rise in North America.

  • The market in Canada is likely to gain momentum backed by the growing healthcare sector and proactive government initiatives to control the osteoporosis condition among the population in the country between 2020 and 2027.

  • Based on the distribution channel, the hospital pharmacies segment is anticipated to gain momentum and hold a considerable North America osteoporosis treatment market share. This is ascribable to factors such as the increasing inpatient admission for the treatment of the disease that is likely to propel the demand for hospital pharmacies in the market.


The market is segmented as follows:












































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Drug Class



  • Bisphosphonate

  • Hormone Replacement Therapy

  • Selective Estrogen Receptor Modulator (SERMs)

  • RANK ligand (RANKL) Inhibitor

  • Others



By Route of Administration



  • Oral

  • Parenteral



By Distribution Channel



  • Hospitals Pharmacies

  • Retail Pharmacies & Stores

  • Online Pharmacies



 



By Geography



  • The U.S.

  • Canada


North America Osteoporosis Treatment Market
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