Bisphosphonate is the leading drug class in China for osteoporosis treatment. The market in China is driven by hospital consumption of osteoporosis drugs in five cities including Shanghai, Beijing, Guangzhou, Hangzhou, and Chongqing.
The global and China osteoporosis drugs market is estimated to account for US$ 17.1 Bn in terms of value by the end of 2027.
Global and China Osteoporosis Drugs Market: Drivers
Approval and launch of new drugs is expected to propel growth of the global and China osteoporosis drugs market over the forecast period. For instance, in June 2020, BeiGene Co., Ltd. begun commercializing XGEVA (denosumab) in China for the treatment of giant cell tumor of bone.
Global and China Osteoporosis Drugs Market: Opportunities
Clinical trials for development of novel therapeutics is expected to offer lucrative growth opportunities for players in the global and China osteoporosis drugs market. For instance, in July 2020, Entera Bio Ltd. announced receipt of approval from the Institutional Review Boards at the clinical sites for the amendment to its Phase 2 protocol to include the testing of higher doses of EB613 in postmenopausal women with osteoporosis.
Global and China Osteoporosis Drugs Market: Restraints
Adverse effects of osteoporosis drugs are expected to hinder growth of the market. For instance, consumption of ibandronate may lead to back pain, headache, redness or swelling of eyes, diarrhea, flu-like symptoms, nausea or stomach upset, pain in arms or legs, or redness or swelling where Boniva was injected.
The global and China osteoporosis drugs market was valued at US$ 12.7 Bn in 2019 and is forecast to reach a value of US$ 17.1 Bn by 2027 at a CAGR of 3.8% between 2020 and 2027. Increasing approval and launch of new drugs is expected to propel growth of the global and China osteoporosis drugs market over the forecast period
Hospitals segment held dominant position in the global and China osteoporosis drugs market in 2019, accounting for 45.4% share in terms of value, the growth of the segment is attributed to increasing prevalence of osteoporosis in developed and developing economies during the forecast period.
Major players in the market are focused on approval and launch of biosimilars to branded drugs of osteoporosis. For instance, in May 2020, JHL Biotech Inc. randomized and dosed the first group of subjects in the company's Australian Phase I Clinical Trial of JHL1266, a proposed biosimilar to denosumab, in healthy subjects, in order to evaluate the similarity in pharmacokinetics, pharmacodynamics, and immunogenicity.
The market is witnessing drug recalls. For instance, in March 2020, Taro Pharmaceuticals Inc. recalled five lots of Taro-Zoledronic acid injection 5mg/100ml, used for osteoporosis and Paget's disease, because of the potential presence of particulate matter in the drug.
Global and China Osteoporosis Drugs Market: Competitive Landscape
Major players operating in the global and China osteoporosis drugs market include, Merck & Co., Eli Lilly, Procter & Gamble, Enzo Biochem, Inc., Sanofi-Aventis, Novartis, Wyeth, Roche, GlaxoSmithKline, UCB, Amgen, BeiGene Co., Ltd., Bone Biologics, Teijin Pharma Limited, JHL Biotech Inc., Keros Therapeutics, and Taro Pharmaceuticals Inc.
Global and China Osteoporosis Drugs Market: Key Developments
May 2020: Enzo Biochem, Inc. was issued a U.S. patent for methods for producing monoclonal antibodies against specific regions of human Sclerostin, a protein that is a negative regulator of bone growth and an osteoporosis drug target
January 2020: Bone Biologics, a developer of orthobiologic products for spine fusion, trauma and osteoporosis markets, completed a preclinical study, which shows its rhNELL-1 growth factor effectively promotes bone formation in a phylogenetically advanced spine model
Scope of the report