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Asia Pacific osteoporosis drug market to grow 4.73% to 2019
Date Published：12/19/2014 12:12:59 PM
Amgen, Eli Lilly, Merck & Novartis lead in the region, as sales driven by growing awareness of bone health
DUBLIN – The market for osteoporosis drugs in Asia Pacific is expected to grow at a CAGR of 4.73% over 2015-2019, according to a new offering from Technavio.
Key vendors in APAC are Amgen, Eli Lilly, Merck and Novartis. Other prominent vendors mentioned are F. Hoffmann La Roche, GlaxoSmithKline, Jiangsu Hengrui Medicine, Pfizer Inc., and Qingdao Chiatai Haier Pharmaceutical.
Osteoporosis is a disease that reduces of the mass and density of bone, and results in increased risk of fracture. In this disease, risks related to fracture increases because of the increased permeability of the bones. Often, there are no symptoms observed until the first fracture occurs. Increase in age, low body weight, low sex hormones or menopause and smoking are some of the risk factors associated with it.
A major trend in this market is the increasing awareness of bone health. China has many national societies that are actively involved in creating awareness of osteoporosis. These include the OCCGS in conjunction with the CHO, the CMA in conjunction with the CSOBMR, the Osteoporosis division of the Chinese Society of Orthopedics, and the Osteoporosis division of the Chinese Society of Endocrinology.
According to the report, a main driver in this market is increase in aging population. Prevalence of osteoporosis and incidence of fractures rise substantially with age, especially in people above the age of 50.
The high cost of the drugs, however, will be the main challenge in these emerging markets. Many patients do not have the required budget to invest in high-cost treatment options.
As the Osteoporosis Drugs Market in the APAC Region 2015-2019 report points out, this will hinder the acceptability bone health drugs among patients despite numerous benefits.