China Osteoporosis Market Growth In New Research And Know About Its Top Growing Factors By Key Companies
Osteoporosis, a progressive bone disease characterized by diminishing bone density and mass, primarily affects people of old age. China has the largest geriatric population in the world, and therefore, the incidence of osteoporosis is relatively high in the booming Asian country.
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According to the Ministry of Civil Affairs of China, the population in China aged 60 years and above was 193.9 million at the end of 2012, accounting for 14.3% of the total population in the country. 9.4% of the total population in China was 65 years and above, which translates to 127.14 million individuals. It is no wonder then that the osteoporosis market in China has grown tremendously from 2007 to 2015.
This research report is a comprehensive study on the status of osteoporosis in China and the overall scenario in terms of incidence, available and pipeline drugs, clinical trials, competition among vendors, demand and supply of osteoporosis drugs and therapies in the country, and opportunities available in untapped markets.
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An in-depth assessment of the industrial as well as competitive landscape is provided in the report, which takes into account key forces driving and restraining the market, and significant facts about the major market players.
Overview of the China Osteoporosis Market
According to the report, the osteoporosis market in China has registered a CAGR of 14.4% between 2007 and 2015, indicating a strong growth over the forecast period. The key factors responsible for this growth are increased number of women suffering from osteoporosis, rise in geriatric population in the country, increased awareness regarding bone disorders and overall health, higher standard of living, and rise in healthcare expenditure. In contrast, stringent norms by regulatory bodies, patent expiry of blockbuster drugs, and change in pricing owing to the presence of generic drugs are expected to impede the growth of the osteoporosis market in China.
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The report indicates that the development of new drugs with easy dosage patterns and the lucrative opportunities in cities such as Beijing, Shanghai, Hangzhou, and Guangzhou are projected to support the China osteoporosis market by the end of 2015.
Among the major drug classes, bisphosphonate dominated the China market. Prolia is projected to gain significance towards the end of the forecast period while parathyroid and SERM classes are expected to decline.
Companies mentioned in the research report
Some of the major domestic and international players operating in the China osteoporosis market are Merck Pharmaceutical (HK) Limited, Jiangsu Hengrui Medicine Co., Ltd., Qingdao Chiatai Haier Pharmaceutical Co., Ltd., Novartis International AG, Eli Lilly and Company, and Tongjitang Chinese Medicines Company.
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By focusing on cost-effective drugs with an easy dosage pattern, players in the China osteoporosis market will be able to gain a competitive edge. The dosage schedule of traditional osteoporosis drugs is rather strict, making it difficult for patients to comply with. R&D activities aimed towards developing easy-dosage osteoporosis drugs will allow manufacturers to address the unmet medical needs of patients across China.
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