The
Bone Pain Treatment Market Overview analysis, by drugs, antibiotics forecast
to 2030
The
bone pain treatment market is projected to reach USD 4,863.5 Million by 2030 at
6.8% CAGR during the forecast period 2022-2030.
Market
Scenario
Bone
pain can occur because of numerous reasons namely due to accidents or by any
diseases conditions such as cancer, osteoarthritis, etc. In severe cases, it
becomes difficult to predict the cause of bone pain and so diagnostic methods
like CT scan, MRI, bone scanning and many more are performed. The increasing
prevalence of bone-related diseases and increasing incident of accidents across
the globe are major drivers for the growth of the global bone pain treatment
market. For instance, as per the data mentioned by the International
Osteoporosis Foundation, osteoporosis causes approximately more than 8.9
million fractures annually, resulting in an osteoporotic fracture every 3
seconds worldwide. Moreover, according to the Centers for Disease Control and Prevention,
by 2040, approximately 78 million U.S. adults aged 18 years or above are
anticipated to have doctor-diagnosed arthritis. In addition, lack of necessary
dietary supplements can lead to bone pain and fragility making bone susceptible
to fractures.
On
the other hand, side effects of the drugs, long approval time for new drugs and
expensive R&D activities may hamper the growth of the market during the
assessment period.
Global
Bone Pain Treatment Market - Competitive Landscape
Global
bone pain treatment market is a dominated by major players. The prominent
market players are involved in various strategic approaches such as
acquisitions, partnerships, mergers and new product launches to strengthen
their market position.
In
May 2018, Amneal Pharmaceuticals LLC and Impax Laboratories, Inc. announced the
completion of their business combination to form Amneal Pharmaceuticals, Inc.
With this acquisition, Amneal became largest generics business company in the
United States.
In
August 2016, Teva Pharmaceutical Industries Ltd. and Allergen announced that
Teva acquired Allergen’s Actavis Generics business segment. This acquisition
aimed at strengthening Teva’s position in the global market.
In
January 2016, Novartis International AG, a leading healthcare company announced
the approval of Cosentyx (secukinumab) by the U.S. Food and Drug Administration
(FDA) for the treatment of active ankylosing spondylitis and active psoriatic
arthritis in adults.
In
July 2015, Pfizer Consumer Healthcare’s bone health supplement brand, Caltrate
launched Caltrate Bone & Joint Health, a once a day supplement. Caltrate
Bone & Joint Health is a triple action product developed to support
collagen production for healthy bones and cartilage. With this launch, the
company expanded its bone health supplement product portfolio.
In
February 2014, Debiopharm Group, a Switzerland based biopharmaceutical company
acquired Affinium Pharmaceutical’s clinical and preclinical segments along with
its technology platform.
Moreover,
Eli Lilly and Company is an American pharmaceutical company headquarters in
Indiana, the U.S. The company is the mass producer of antibiotics. FORTEO is
the most widely used drug by the company. It is a prescription medicines used
for the treatment of osteoporosis.
Competitive
Analysis
The major key players of the bone pain
treatment market are as follows Eli Lilly and Company, Amneal Pharmaceuticals
LLC., Actavis plc, Novartis International AG, Marksans Pharma, Amgen, Inc.,
Debiopharm Group, Pfizer Inc., Eli Lilly, Farmson Pharmaceutical Gujarat Pvt.
Ltd., Qingdao Hiseeking Enterprises Co. Ltd. and others are some prominent
players in the global bone pain treatment market.
Regional
Analysis
On
the regional basis, global bone pain treatment market is segmented into four major
regions namely, America, Europe, Asia Pacific and Middle East & Africa.
Americas is expected to account for the largest share in the global bone pain
treatment market which is followed by Europe. The market growth of America and
Europe is majorly anticipated by the presence of well-developed healthcare
sector, growing prevalence of bone-related diseases and bone cancer, increasing
aging population and government support for the research and development. For
instance, according to the American Cancer Society, approximately 3,300 new
cases of bone cancer were diagnosed in 2016.
Asia
Pacific is anticipated to be the fastest growing for bone pain treatment market outlook. The market growth is attributed to the
presence of huge geriatric population and increasing incidents of accidents.
For instance, according to the United Nations Population Division, older
population in India is increasing continuously. The share of India’s population
ages 60 and older are projected to increase from 8 percent in 2010 to 19
percent in 2050.
The
Middle East and Africa has the lowest market for the bone pain market due to
limited development in the medical sector and presence of many poor countries.
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