Surging Population of Ageing People To Drive Global Osteoporosis Drug Demand

The International Osteoporosis Foundation (IOF) states that osteoporosis results in more than 8.9 million fractures each year. It also forecasts that the global incidence of hip fracture in women and men will increase by 240% and 310%, respectively, by 2050, compared to the rates recorded in 1990. The organization also states that over 50% of all osteoporotic hip fractures will be recorded in Asia, by 2050, and nearly 5.34 million osteoporotic fractures will be registered in Europe by 2034.

Moreover, the soaring healthcare expenditure will also accelerate the use of osteoporosis drugs in the foreseeable future. For instance, the Centers for Disease Control and Prevention (CDC) states that the total national health expenditure of the U.S. stood at $3.6 trillion, and per capita health expenditure stood at $11,172, in 2018. Further, the WHO Global Health Expenditure database reveals that per capita health expenditure in India surged from $69.32 in 2017 to $72.835 in 2018.

In contemporary years, the North American region consumes the maximum volume of osteoporosis drugs due to the high prevalence of this bone disease and a vast population of old people. The U.S. Department of Health and Human Services states that nearly 12.6% of the U.S. populace were living with osteoporosis during 2017–2018. As per this department, 8.4% of the population aged 50–64 years and 17.7% people aged 65 years and more were affected by osteoporosis in the U.S. in the said time.

However, the Asia-Pacific osteoporosis drugs market is expected to showcase the fastest growth throughout the forecast period. The growth can be credited to the booming population with osteoporosis and escalating healthcare expenditure in the region. The Asia Pacific Consortium on Osteoporosis (APCO) reveals that 332,000 and 485,000 new cases of hip fractures were recorded in India and China, respectively, in 2018. As per the organization, over 1.1 million hip fractures occurred in Japan and South Korea.

Thus, the growing prevalence of osteoporosis and booming healthcare expenditure will facilitate the consumption of osteoporosis drugs worldwide.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders