Global Osteoporosis Drugs Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 07:40:04
There has been an increase in awareness of bone education among patients and physicians. Enhanced patient and physician awareness is expected to lead to earlier disease diagnosis and treatment. The acceptability of osteoporosis drugs is expected to rise due to the increasing public awareness. This will probably result in increasing drug penetration. Raising general awareness about osteoporosis has led to an increase in research funding and support for clinical and support services. For instance, May is celebrated as National Osteoporosis Awareness and Prevention Month every year. This has encouraged women and men to start conversations about bone health and family history as the first steps to protecting themselves and future generations from osteoporosis. Similarly, the National Osteoporosis Foundation is the leading health organization dedicated to preventing osteoporosis and broken bones, promoting strong bones for life, and reducing human suffering, through programs of public and clinician awareness, education, advocacy, and research. These collaborations have helped to considerably increase the awareness about osteoporosis drugs.
One of the main drivers in this market is the increase in the global aging population. The number of patients suffering from osteoporosis is increasing owing to the increasing aging population both in developing and developed nations. The prevalence of osteoporosis and the incidence of osteoporotic fractures rise substantially with age, especially after the age of 50 years.
Further, one of the main challenges is the multiple patent expiries. The shift toward lower-priced drugs will lead to a drop in the market valuations for that drug, reducing the overall market value.
The key players operating in the global osteoporosis drugs market include Amgen Inc., Eli Lilly & Co., Merck & Co. Inc.,and Novartis AG.
The global osteoporosis drugs market is forecast to grow at a CAGR of 3.98 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing global aging population. The Global Osteoporosis Drugs market has also been witnessing the increasing awareness of bone health education. However, the multiple patent expiries could pose a challenge to the growth of this market.
Other vendors operating in the market are Abiogen Pharma SpA, F. Hoffmann La Roche Ltd., GlaxoSmithKline plc, Ligand Pharmaceuticals Inc., NPS Pharma Inc., and Pfizer Inc.
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