Owing to the rising prevalence of cancer globally and the awareness pertaining to womans health and well-being have been the key factors driving the Zoledronic Acid Industry forward in the projected period of 2022-2027.
Zoledronic Acid Market Segmentation Analysis- By Application
The zoledronic acid market based on the application can be further segmented into Metastatic Bone Cancers, Systemic Metabolic Bone Diseases, Osteoporosis, Pagets Disease, and Others. The osteoporosis segment held a dominant market share in the year 2021. The following condition/ disease weakens the bone and makes it fragile, whereby the new bone creation process is slower than old bone removal. The following condition is highly prevalent in females who have had undergone menopause or for patients who are on regular consumption of glucocorticoids. The usage of the following drug class in treating such conditions made it a dominant segment occupant.
Moreover, the osteoporosis segment is estimated to be the fastest-growing, with a CAGR of 5.8% over the forecast period o 2022-2027. As per US CDC and other research institutes, there are currently 200 million people suffering from the said condition, and nearly 1 in every three women will experience fracture pertaining to osteoporotic condition. Additional, medical literacy amongst the masses and women will allow for better adoption of zoledronic acid.
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Zoledronic Acid Market Segmentation Analysis- By Distribution Channel
The zoledronic acid market based on the distribution channel can be further segmented into offline and online modes. The offline mode held a dominant market share in the year 2021. It is owing to the easy availability of various drugs from the pharmacy stores. Additionally, various medical stores have enrolled themselves in the medical insurance structure. The following addition has allowed the patients to reclaim or reimburse their money on the said drugs. The following have been a major trend for its adoption.
However, the online segment is estimated to be the fastest-growing, with a CAGR of 6.0% over the forecast period of 2022-2027. It is owing to the availability of various cashback and discounts which help the following segment gain market traction. For example, Aclasta 5mg/100 mL infusion by Novartis costs INR 20,500 in the retail segment; however, companies like Tata 1 Mg and Pharmeasy are offering the same product at INR 19,692, while if one opts for their Care Plan, they can avail the product for INR 17,662. Hence, with the usage of online promotional strategies and discounts, the online segment will gain a substantial edge and momentum.
Zoledronic Acid Market Segmentation Analysis- By Geography
The Zoledronic Acid Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Geographically, North Americas zoledronic acid market held a dominant market share of 36% as compared to the other regions in 2021. It is owing to the prevalence of cancer and the easy availability of chemotherapy for the same patients. As discussed earlier, zoledronic acid is given with chemotherapy to cure the bone damage caused by cancer which has now spread to the bones. Moreover, 2 million cancer cases were diagnosed in the US for cancer, out of which around 650,000 patients receive chemotherapy. Owing to such market conditions, the market has gained a substantial market space.
However, Asia-Pacific is set to offer lucrative opportunities to marketers in the projected period of 2022-2027. It is owing to the increasing digital literacy amongst the woman, which has and will make them aware of the benefits of zoledronic acid in helping and treating osteoporosis post-menopause.
Zoledronic Acid Market Drivers
The use and efficacy of zoledronic acid in reducing the recurrence of giant cell tumors of bone has been a key market driver
The following acid class, which belongs to the group of bisphosphonates, has been gaining immense market traction owing to its ready use in the therapy of giant cell tumor of bone or also known as GCTB. Various researchers have provided their study results, which aids that tumor-related recurrence as a comparison to the control groups is extremely low or rare. Moreover, zoledronic acid induces neoplastic stromal cells, apoptosis, and, lastly, osteogenic differentiation. One of the major cancers which aid zoledronic acid usage is treating cases of multiple myeloma cancer. Around 35,000 cases for the same have been diagnosed in the year 2020 in the US. Moreover, the death ratio for the same cancer is around 35%. Hence, zoledronic acid is actively used in treating the said cancer. Lastly, zoledronic acid has been the recent addition for the treatment of osteoporosis in children and has been approved by the FDA as well.
The usage of zoledronic acid in treating osteoporosis in postmenopausal women has aided the market penetration
Osteoporosis amongst women around the world has been rising, which has helped the zoledronic acid industry outlook. The said bisphosphonates work by slowing down cell growth which is responsible for bone breakage. Additionally, around the world, doctors have been recommending zoledronic acid as the prime medication to reduce the incidence of spine and non-spine fractures. Additionally, the said acid is given in the form of injection every two years to prevent cases of osteoporosis. Additionally, female literacy around the world stood at 75.44% in 2019; however, it zoomed to 83.024% by 2020. Internet availability and penetration amongst woman around the world has further substantiated the awareness pertaining to the use of zoledronic acid.
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Zoledronic Acid Market Challenges
The adverse side effects pertaining to the use of zoledronic acid have halted the market growth
As per various doctors and researchers, zoledronic acid should not be given to people suffering from low levels of calcium and for people who have had severe kidney diseases. Hypocalcemia, a condition of low calcium levels, has been found to be increasing in its prevalence. As per the research, around 18% of hospitalized patients and 85% of the patients will have the following ailment. Additionally, owing to an increase in the prevalence of diabetes, the cases of severe kidney diseases have increased multifold. As per CDC, around 10.5% of the entire population had diabetes, of which around 7.4 million people had undiagnosed diabetes. Lastly, the growth of the geriatric population and the rising prevalence of a sedentary lifestyle will hamper the growth.
Zoledronic Acid Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Zoledronic Acid Market. Zoledronic Acid Market top 10 companies include:
Cipla
Emcure Pharmaceutical
Hangzhou Longshine Bio-Tech
Lianyungang Runzhong Pharm
Mylan Pharms Inc
Natco Pharma Ltd
Scinopharm Taiwa Ltd
Taj Pharmaceutical Ltd
Tecoland Corp
Teva Pharmaceutical Industry Ltd
Key Takeaways
Geographically, North Americas Zoledronic acid market held a dominant share in the year 2021. It is owing to the presence of robust medical infrastructure which supports new drug discoveries and also helps in creating awareness amongst the masses for the benefits a medical product might offer. Moreover, Asia-Pacific is set to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is owing to the rising prevalence of cancer and other bone-related diseases which will allow the market to gain a substantial edge.
The rising cases of bone diseases and the awareness pertaining to post-menopausal womens health products are the key drivers for the market. However, stringent regulations and the availability of alternatives/substitute drug classes are the major market hurdles.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Zoledronic Acid Market Report.
Relevant Titles
Steric Acids Market
https://www.industryarc.com/Research/Stearic-Acids-Market-Research-503025
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