North America Osteoporosis Treatment Market to Exhibit 6.6% CAGR by 2027 Owing to Growing U.S. FDA A
Author : Vaishnavi Bakshi | Published On : 16 Aug 2021
The North America osteoporosis treatment market size is expected to gain momentum by reaching USD 8.29 billion by 2027 while exhibiting a CAGR of 6.6% between 2020 and 2027. This is attributable to the increasing prevalence of osteoporosis and the growing number of government approvals for the therapeutic drugs that are propelling the demand in the North America osteoporosis treatment options. 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.”, mentions that the market stood at USD 5.18 billion in 2019.
COVID-19 Impact: Market to Experience a Sluggish Growth at 2.3% CAGR in 2020
The COVID-19 pandemic has led to the healthcare systems and hospitals to divert their complete focus on treating people suffering from the disease. In contrast, several elective medical procedures and osteoporosis treatment appointments have either been canceled or postponed. Based on our analysis, the market will exhibit aslow growth at 2.3% CAGR in 2020 due to the aforementioned reasons. However, the market will return to normalcy once the pandemic is over.
Osteoporosis is a type of medical condition that occurs when the bone synthesis gets interrupted and if left unattended, often may lead to a fracture. In addition to this, the condition leads to brittle and lower density of bones and is mostly common in the older population, along with women.
What does the Report Provide?
The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will have an impact on the market. Furthermore, the report includes significant insights into the regional insights that include different regions, which are contributing to the market growth. It includes the competitive landscape involving the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, collaborate, and acquire other companies that will contribute to the market growth during the forecast period. Moreover, the research analyst has adopted several research methodologies such as Porter’s five forces analysis to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
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Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
Increasing Incidence of Osteoporosis to Promote Growth
According to the National Institute of Health (NIH), around 10 million Americans aged 50 and older suffer from osteoporosis of the hip. The increasing prevalence of this disease that results in the deformity and fragile nature of the bones is expected to boost the demand for the market for North America osteoporosis treatment. Moreover, several companies are focusing on developing novel therapeutic solutions leading to the growing approvals by the U.S. FDA in treating osteoporosis will contribute to the North America osteoporosis treatment market growth in the forthcoming years.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for North America Osteoporosis Treatment Market to figure out and study the market’s needs, market size, and competition.
Parenteral Segment to Showcase Exponential Growth
Based on the route by administration, the parenteral segment is expected to hold a significant North America osteoporosis treatment market sharedue to increasing R&D activities by the healthcare companies to develop novel parenteral drugs during the forecast period.
Presence of Established Players in the U.S. to Feed Market Growth
Geographically, the U.S market stood at USD 4.98 billion in 2019 and is expected to hold the highest position in the North American market in the forthcoming years. This is ascribable to factors such as presence of established players such as AbbVie Inc., Pfizer Inc., and Amgen Inc. that play a pivotal role in the North America osteoporosis treatment solutions development.
The market in Canada is anticipated to experience considerable growth backed by the increasing prevalence of osteoporosis and supportive government policies to educate the people regarding therapeutic treatment solutions between 2020 and 2027.
This report focuses on North America Osteoporosis Treatment Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Collaboration between Eminent Companies to Brighten Their Market Positions
The market for North America is experiencing proactive competition between major companies that are collaborating with other companies to expand their product portfolio and boost sales revenue. Furthermore, other key players are adopting organic and inorganic strategies such as partnership, the introduction of novel products, and merger and acquisition that will bode well for the growth of the market for North America.
Major companies in the Global North America Osteoporosis Treatment Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the North America Osteoporosis Treatment Industry.
- August 2020 - Celltrion Healthcare Co., Ltd commenced the Phase 1 trial of Denosumab Biosimilar, a monoclonal antibody injection adopted in the management of osteoporosis. The company has invested in R&D to develop novel therapeutics solutions for the treatment of the disease.
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