The Australian Osteoporosis Drugs market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Osteoporosis (meaning ‘porous bones) is a condition that causes bones to become thin, weak, and fragile. As a result, even a minor bump or accident can cause a fracture (broken bone). Such events might include falling out of a bed or chair or tripping and falling while walking. An estimated 924,000 Australians have osteoporosis, based on self-reported data from the Australian Bureau of Statistics (ABS) 2017–18 National Health Survey (NHS), and 20% of people aged 75 years and over have osteoporosis (ABS 2018). This definition of osteoporosis includes people who had osteoporosis or osteopenia. Osteoporosis is more common in women than men. In 2017–18, 29% of women aged 75 and over had osteoporosis compared with 10% of men. Older age groups also tend to be affected. The proportion of women with osteoporosis increases with age, with those 75 and over being most affected.
Rising expenditure in the discovery and development of drugs to treat osteoporosis is also a major factor driving the growth of the osteoporosis drug market. The rapid pace of urbanization giving rise to unhealthy lifestyles and eating habits, which are expected to lead to a greater number of people being impacted by this disease, thereby driving the growth of the osteoporosis drug market. Rising demand for better osteoporotic care, coupled with increasing awareness about the availability of drugs for treating the disease, is pushing market players to work in the drug development area for this indication. The market players are collaborating with patient organizations, government research organizations, and academic institutes to advance their drug development activities. All these factors are expected to drive market growth in the coming years. Due to the increase in R&D investment from major players in advanced novel bisphosphonate drugs, bisphosphonates acquired the major share in the osteoporosis market. Furthermore, other factors that boost the growth of the osteoporosis drug market are a surge in the geriatric population and a rise in the adoption of sedentary lifestyles.
Major Osteoporosis Diseases
Based on disease indication, the osteoporosis drug market can be segmented into primary and secondary osteoporosis. Primary osteoporosis is the most common form of the disease and includes postmenopausal osteoporosis (type I), and senile osteoporosis (type II) and is defined as a pathological unbalancing of bone resorption and formation that leads to persistent deficits of bone mass, which ultimately translates into increased fracture susceptibility.
Secondary osteoporosis is characterized as having a clearly definable etiologic mechanism. Secondary osteoporosis results from specific clinical disorders that are potentially reversible. Up to 30% of postmenopausal women and 50% of men with osteoporosis may have an underlying cause. The underlying pathogenesis of secondary osteoporosis is often multifactorial.