Rising Innovative Therapies Is Expected To Foster Growth Of The Osteoporosis Treatment Market
Osteoporosis is a disease in which the density and quality of bones are reduced, often resulting in broken bones in the wrist, hip, and spine. Various factors responsible for causing osteoporosis include genetic factors, low intake of calcium, magnesium, and vitamin D, eating disorders such as anorexia, inactivity and immobility, and excessive alcohol intake. Moreover, conditions that increase the risk of osteoporosis include cancer, chronic kidney diseases, chronic obstructive pulmonary disease, and some autoimmune disease such as rheumatoid arthritis. However, osteoporosis treatment involves preventing and treating fractures and using medication to strengthen bones. Treatment usually includes medications such as Bisphosphonates are the most common drugs prescribed for the treatment of osteoporosis. Furthermore, hormone therapy treatment is recommended for post-menopausal women, as they experience a drop in the levels of estrogen, which weakens the bones.
Rising innovative therapies is expected to foster growth of the osteoporosis treatment market
The major factor contributing to growth of the global osteoporosis treatment market is the rising cases of osteoporosis across the world. According to the International Osteoporosis Foundation, in 2017, around 200 million people across the world are estimated to be diagnosed with the disease. In addition, increasing prevalence of osteoporosis in post-menopausal women, rising innovative therapies for osteoporosis treatments that are in the pipeline such as monoclonal antibody that would bind and inhibit the action of sclerostin, a protein which is associated with the abnormal bone growth are also expected to favor the market growth. Favorable conditions to speed up the bone formation process and decrease bone breakdown can be attained by inhibiting the synthesis of unwanted proteins. A synthetic analogue of human parathyroid hormone related protein (hPTHrP) is also used in the process for the treatment of postmenopausal osteoporosis and are some of the key factors driving the global osteoporosis treatment market. However, side effects such as stomach upset, heartburn, nausea, and bone damage in the jaw, associated with the drugs prescribed for osteoporosis treatment pose as restraints for growth of the market for osteoporosis treatment.
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On the basis of region, the global osteoporosis treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global osteoporosis treatment market, owing to increasing number of Food and Drug Administration (FDA) approvals for the treatments associated with osteoporosis. For instance, a new anabolic bone building agent, known as TYMLOS for the treatment of postmenopausal women with osteoporosis at high risk for fracture, was approved by the FDA in April 2017. Moreover, according to the National Osteoporosis Foundation, in 2016, around 54 million people were diagnosed with osteoporosis, from which one in every two women diagnosed are 50 years of age and above, in the U.S. Furthermore, Asia Pacific is expected to be the fastest growing region in the global osteoporosis treatment market due to rising demand for bone cell therapy in the treatment of severe osteoporosis patients. For instance, in China, Bone Therapeutics, a biopharmaceutical company and Erasme University Hospital in partnership entered the phase II clinical trials with its lead bone cell therapy product PREOB, for the treatment of severe osteoporosis for patients who do not respond to pharmacological treatment.
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The launch of innovative implantable drug delivery device known as microchips used in the treatment of osteoporosis is expected to propel the growth of osteoporosis treatment market
Major players involved in the osteoporosis treatment market include Radius Health, Bone Therapeutics, Amgen, Inc., F. Hoffmann La Roche Ltd., Teva Pharmaceuticals Industries Ltd., Eli Lilly and Company, Novo Nordisk, Cipla, Pfizer, Microchips Biotech, and Allergan Plc. The key players are focusing on strategic mergers and acquisitions and development of innovative products. For instance, in 2015, Microchips Biotech entered into a partnership with Teva Pharmaceuticals Industries to commercialize its innovative implantable drug delivery device, known as microchips. The microchips consist of hundreds of pin head sized reservoirs each capped with a metal membrane that store tiny dose of therapeutics or chemicals, which will be used to treat the osteoporosis.
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