Canadian 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 is defined as a medical condition, which is characterized by low density and quality of bones in humans. Furthermore, the bones become porous in this medical condition, which makes them more fragile and, in turn, prone to fractures. Osteoporosis is often called the ‘silent thief’ because bone loss occurs without symptoms unless one has fractured. Osteoporosis is a major health problem in Canada. In Canada 1 in 5 men and 1 in 3 women suffer from osteoporotic fracture, an estimated 2 million Canadians are suffering from this disorder, 28 of women and 37% of men who suffer from a hip fracture will die within one year. Over 80% of all fractures in people over 50 years of age are caused by osteoporosis.
There has been a noticeable growth in people around the country about the awareness of osteoporosis, which is a noticeable factor in the osteoporosis market. This recognition is primarily a result of numerous steps implemented across different programs and campaigns by public and private associations. Moreover, lifestyle-associated factors such as alcohol abuse, sedentary lifestyle, smoking are found to promote this condition in men. The factor poses a high clinical urgency to curb osteoporosis, thus predicted to further bolster the overall growth. The rapid increase in the prevalence of osteoporosis in postmenopausal women, growing awareness about osteoporotic care, and increasing investment in drug discovery and development are the major factors expected to drive the growth of the market. The rising aging population and post-menopausal women, growing prevalent cases of osteoporosis in the younger population, increase expenditures in R&D for new and innovative drug formulation are the other factors supplementing the growth of the osteoporosis drugs market.