Canada Osteoporosis Treatment Drugs Market to be dominated by Bisphosphonate Segment through 2028
The growing risk
of osteoporosis is expected to drive the growth of Canada Osteoporosis
Treatment Drugs Market in the forecast period, 2024-2028.
According
to TechSci Research report, “Canada Osteoporosis
Treatment Drugs Market - By Region, Competition Forecast and Opportunities, 2018-2028,” Canada Osteoporosis Treatment Drugs Market is anticipated to grow at an
impressive rate in the forecast period, 2024-2028. This can be ascribed
to the increased risk of osteoporosis such as rheumatoid arthritis, family
history of osteoporosis along with long-term usage of medications that affect
bone strength or hormone level. Additionally, a rise in the healthcare
expenditure in discovery and drug development will escalate the growth of Canada Osteoporosis Treatment Drugs Market in
the coming years. Similarly, the growing awareness of drugs available for the
treatment of osteoporosis will further drive the growth of the market during
the forecast period. Also, manufacturers are focusing on the launch of transdermal patches for osteoporosis drug
delivery which will be influencing the growth of Canada Osteoporosis Treatment
Drugs market during the forecast period.
However, some osteoporosis
treatment drugs can be expensive, posing a financial burden on patients,
particularly those without adequate insurance coverage. The high cost of
medications may hinder access to treatment, leading to suboptimal management of
osteoporosis, which may hamper the Canada Osteoporosis Treatment Drugs market
growth during the forecast period. Despite
efforts to raise awareness about osteoporosis, there are still segments of the
population with limited knowledge and understanding of the condition. This lack
of awareness can result in delayed diagnosis and inadequate management of
osteoporosis which may hamper the market growth during the forecast period. Also,
Osteoporosis often coexists with other
chronic conditions, and individuals with multiple comorbidities may be taking
multiple medications simultaneously. This can increase the risk of drug
interactions and affect treatment choices for osteoporosis which can further
restrict the growth of Canada Osteoporosis Treatment Drugs Market.
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Canada Osteoporosis Treatment Drugs Market can be segmented
by drug class, route of administration, distribution channel, region and
competitive landscape. Based
on Drug Class, the market can be segmented into Bisphosphonate, Hormone
Replacement Therapy, Selective Estrogen Receptor Modulator, Rank Ligand
Inhibitor, Others. The Bisphosphonate segment dominated the market in 2022 and is
expected to continue maintaining its dominance throughout the forecast period.
This can be ascribed to the fact that these drugs are used to treat bone
metastasis by acting as a chemoattractant to bone for tumor cells that express
its receptor, RANK.
Based
on Distribution Channel, Canada Osteoporosis Treatment Drugs market can be segmented
into Hospital Pharmacies, Retail
Pharmacies and stores, Online Pharmacies. The Hospital Pharmacies segment
is expected to dominate the Canada Osteoporosis Treatment Drugs Market during
the forecast period on account of rise in number of the patients visiting the
hospitals for the treatment of the osteoporosis along with development of
hospital pharmacies in the country.
Major
companies operating in Canada Osteoporosis Treatment Drugs Market are:
- AbbVie Inc
- Eli Lilly Canada Inc
- Amgen Canada Inc
- Hoffmann-La Roche Ltd
- Novartis Pharmaceuticals Canada Inc
- Sanofi-Aventis Canada Inc
- Pfizer Canada Inc
- GlaxoSmithKline Inc/Canada
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“Ontario
Region will dominate the Canada Osteoporosis Treatment Drugs market during the
forecast period due to the easy availability of osteoporosis drugs in the
region, the surge in the incidence of osteoporosis, well-established research
organizations involved in product development, and the presence of
well-established research groups engaged in drug design in this region. Similarly,
major companies are expanding their infrastructure across the region, forming
alliances and collaborations, and launching new drugs to help their businesses
develop. This is expected to drive the growth of the Canada Osteoporosis
Treatment Drugs Market during the forecast period. Additionally, the increase
in awareness regarding the use of osteoporosis drugs will further propel the
growth of the Canada Osteoporosis Treatment Drugs market during the forecast
period. Furthermore, the constantly evolving life science industry is a major
factor influencing the growth of the Canada Osteoporosis Treatment Drugs Market
over the years. Besides, key players are engaged in strategic initiatives to
boost their offerings in the market, which is expected to create lucrative
growth opportunities for the market during the forecast period," said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Canada Osteoporosis Treatment Drugs Market By Drug Class
(Bisphosphonate, Hormone Replacement Therapy, Selective Estrogen Receptor
Modulator, Rank Ligand Inhibitor, Others), By Route of Administration (Oral, Parenteral),
By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Stores,
Online Pharmacies) and By Region, Competition Forecast and Opportunities,
2018-2028,” has
evaluated the future growth potential of Canada Osteoporosis Treatment Drugs Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Canada Osteoporosis Treatment Drugs Market.
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