Global Bisphosphonates Market - 2022-2029
The global bisphosphonates market is estimated to reach US$ XX million during the forecast period (2022-2029).
Bisphosphonates are drugs that strengthen bones by slowing or preventing bone loss. Bisphosphonates work by preventing osteoclasts from breaking down and reabsorbing minerals like calcium from bone (the process is known as bone resorption). Bisphosphonates improve bone mass by allowing osteoblasts (bone-building cells) to act more effectively. Bisphosphonates are used to treat osteoporosis and Paget's disease of the bones and lower elevated calcium levels in cancer patients.
The global bisphosphonates market growth is driven by the growing geriatric population, increasing number of women in the post-menopausal stage, increasing prevalence of the bone disease.
An increasing number of women in the post-menopausal stage will drive the market growth
According to the United Nations, 985 million women aged 50 and up in the world.By 2050, the figure is expected to rise to 1.65 billion. An estimated 6,000 women in the United States reach menopause every day (more than 2 million per year). By 2026, it is estimated that nearly one-quarter (22%) of the Canadian population will be made up of women over the age of 50. (Source: National Academy of Medical Sciences). It is estimated that around 13 million women in the UK are currently peri or menopausal (Wellbeing of Women) – that is one-third of the entire UK female population. Osteoporosis, which is more common in older postmenopausal women, raises the risk of fractures, which can result in significant morbidity and mortality. Osteoporosis is primarily caused by postmenopausal bone loss due to oestrogen deficiency. Advanced age, genetics, smoking, thinness, and a variety of diseases and drugs that impair bone health are all important risk factors for postmenopausal osteoporosis.
Furthermore, the proportion of the world's population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050.By 2023, the number of persons aged 60 and more will outweigh youngsters under five.By 2050, 80% of the world's elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.(Source:World Health Organization), this population will more likely to be suffered by bone disorders thus increasing the demand for Bisphosphonates.
These factors, as mentioned above, have a significant impact on the Bisphosphonates industry.
Side effects of bisphosphonates is likely to hamper the market growth
All bisphosphonates (alendronate, ibandronate, risedronate, and zoledronic acid) can cause bone, joint, or muscle discomfort. Nausea, difficulty swallowing, heartburn, irritation of the esophagus (tube linking the throat to the stomach), and gastric ulcer are all possible side effects of oral tablets limiting the growth of the Bisphosphonates market.
COVID-19 Impact Analysis
During the COVID-19 pandemic, the Bisphosphonates market has shrinked significantly. The pandemic has made it tougher to bring new medications to market in the hopes of earning market share or reaching sales projections. Aside from new diagnoses and regimen switching, marketing channels aren't as strong as before the epidemic. The few open channels continue to be dominated by COVID-19 programming. COVID-19 has slowed down clinical trials across the board, notably those in the early stages of development. As traditional study sites closed, researchers were often unable to collect data remotely, and many patients became less willing to participate. Some therapeutic fields were particularly heavily damaged. While some development time can be made up, there are concerns about resource allocation and digital technology expenditures to keep trials running now and in the future.
The osteoporosis segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Osteoporosis is a life-threatening illness in which the microstructure of bones is altered due to a decrease in bone mass and density. Increased bone fragility and the risk of bone fissures and fractures result from this disorder. As a result of the extreme harm and discomfort associated with osteoporosis, it is considered a life-threatening condition.
According to the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures each year, with an osteoporotic fracture occurring every 3 seconds, and it affects 200 million women worldwide.
Furthermore, due to hormonal changes, those over the age of 50 are at the highest risk of having osteoporosis and accompanying fractures. As a result, the global market is growing with the aging population.The development of novel ways to treat osteoporosis by new medications and a rise in public awareness of the importance of early diagnosis and therapy are two important drivers driving this segment's growth.
North America region holds the largest market share of global bisphosphonates market
The North American bisphosphonates market is expected to have a considerable market share because of its well-established healthcare infrastructure, high adoption of healthcare information systems, and the growing number of organized healthcare systems. Osteoporosis affects an estimated 10 million persons in the United States aged 50 and up. The majority of these people are women, but around 2 million men are among them. Low bone mass affects about 43 million additional people, including 16 million men, placing them at risk for osteoporosis. Bisphosphonates are also commonly used osteoporosis medications, boosting market growth.
The Asia Pacific market is expected to rise rapidly in the coming years. The region's rapid growth is expected to result from consistent R&D spending by the region's key players and their efforts to market branded and generic medicines at reasonable prices. The industry is expected to experience intense competition during the forecast period due to key players increasingly incorporating collaborative strategies to maintain a competitive position. Other strategies included are high R&D investment, fusions and acquisitions, and drug development agreements.
The global market for bisphosphonates is moderately competitive, with several major players. Merck & Co Inc, Sanofi- Aventis, F.Hoffmann-La Roche Ltd, Novartis International AG, Procter & Gamble Company, Pfizer Inc, Teva Pharmaceuticals Industries Ltd, Apotex Inc, Genentech Inc are among the market's major players. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Bisphosphonates market globally. For instance, on Februray 19 2019, ZIRABEVTM (bevacizumab), a biosimilar to Avastin®, has been approved in Europe by Pfizer.
Merck & Co.Inc
Merck & Co is a global healthcare company that provides innovative health solutions through prescription medications, vaccines, biological therapies, and animal health products.
Fosamax: FOSAMAX (alendronate sodium) is a bisphosphonate that inhibits osteoclast-mediated bone resorption specifically. Bisphosphonates are pyrophosphate analogues that attach to the mineral hydroxyapatite in bone. Alendronate (Fosamax)is a medication used to prevent and treat osteoporosis in humans. Osteoporosis causes bones to shrink and fracture more easily. Osteoporosis is more likely to develop as you get older, after menopause, or if you use corticosteroid drugs (such as prednisone) for a long time. This drug helps by reducing bone loss. This impact aids in maintaining strong bones and the prevention of shattered bones (fractures). Bisphosphonates are a type of medication that includes alendronate.
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