Global Osteomalacia Drugs Market: Overview
In the recent times, the global market for osteomalacia drugs has gained a significant momentum, owing to the rising prevalence of osteomalacia across the world. Disorders caused by the deficiency of vitamin D and mineral deficiency cause osteomalacia in humans. Cancer, liver diseases, autoimmune disorders, several drugs, such as phenytoin and phenobarbital, and certain surgeries, such as stomach surgery, can also cause osteomalacia. With the advancements in the drugs to increase their efficiency, this market is likely to report healthy growth over the next few years.
This report is aimed at offering a thoroughly assessed study of the global market for osteomalacia drugs, focusing on the growth drivers, obstructions, challenges, opportunities, market trends, and future potentials.
Global Osteomalacia Drugs Market: Trends and Opportunities
The augmenting number of people suffering from osteomalacia and rickets across the world is driving the global osteomalacia drugs market, significantly. In addition to this, the easy availability of novel drugs, such as burosumab and parathyroid hormone (PTH) for the treatment of pediatric and adult patients having hypophosphatemia is also fueling the demand for osteomalacia drugs. The U.S. FDA granted the breakthrough therapy designation to Asfotase Alfa in 2015, which is anticipated to support the global market over the next few years.
Global Osteomalacia Drugs Market: Regional Outlook
On the basis of the geography, the global market for osteomalacia drugs t can be categorized into five regions, which are North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these, North America has been dominant and is expected to remain so over the next few years, thanks to a well-developed healthcare infrastructure, an increasing demand for vitamin D, constantly changing lifestyle, and the rising expenditure on medical and healthcare in the region.
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According to a report, around 40% of the overall U.S. population is suffering from the deficiency of vitamin D, which is why the country demonstrates such high prevalence of bone-related disorders. With the increasing awareness among consumers regarding various types of bone disorders and the easy availability of highly-advanced technologies, the North America market for osteomalacia drugs is likely to witness significant growth in the years to come.
Europe is anticipated to retain its second number position in the overall market over the period from 2017 to 2025, thanks to the increased investments for research and development by the governments in this region. The Asia Pacific market is predicted to observe a healthy rise in the near future, owing to the ongoing development in the medical and healthcare infrastructure in prominent Asian economies and the presence of a large patient pool in this region. Other regional markets, such as Latin America and the Middle East and Africa, are also expected to report a steady rise in the years to come.
Companies Mentioned in the Report
Due to the presence of a large pool of local as well as international participants, the vendor landscape in the global market for osteomalacia drugs is fragmented and highly competitive. Some of the most prominent vendors of osteomalacia drugs across the world are Kyowa Hakko Kirin International plc, Zeria Pharmaceutical Co. Ltd., Alexion Pharmaceuticals, Pfizer Inc., GlaxoSmithKline plc, Sun Pharmaceutical Industries Ltd., Mankind Pharma, Pharmavite LLC, Chemvon Biotechnology (Shanghai) Co. Ltd., and Abbott Laboratories.
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