Bones in our body are living tissue. They have their own blood vessels and are made of living cells, which help them to grow and to repair themselves. Bone is the substance that forms the skeleton of the body. It is composed chiefly of calcium phosphate and calcium carbonate. It also serves as a storage area for calcium, and playing a large role in calcium balance in the blood. There are 270 bones at birth time and the total number decrease to 206 in adulthood after some bones are fused together.
The 206 bones in the body serve several purposes. They support and protect internal organs (for example, the skull protects the brain and the ribs protect the lungs). Muscles pull against bones to make the body move. Bone marrow, the soft, spongy tissue in the center of many bones, makes and stores blood cells. Smoking and alcohol consumption can lead to lower bone density and higher risk of fracture and this risk increases with age.
Based on bone disease, the global bone biology market can be divided into osteoporosis, arthritis, hypocalcaemia, and bone fracture. The osteoporosis segment is growing at a faster rate than the other segments. Rising geriatric population is the leading factor restraining the market. In terms of test type, the bone biology market can be segmented into alkaline phosphatase test, x ray, CT scan, and bone mineral density test.
The bone mineral density test and x-ray test segment account for significant market share. The market is driven by rising prevalence’s of accidents and intake of calcium deficiency diet which lead to bone fracture and low calcium density in the bone. Increasing trend of inactive lifestyle, rising geriatric population and obesity are factors that likely to boost market growth. The side-effects and complications such as nausea, ulcer in stomach and irritable bowel syndrome associated with administration of drugs are factors expected to hamper the growth of the global market.
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Geographically, North America is expected to be the largest market for bone biology globally. This is attributed to rising geriatric population and increasing awareness about bone disease such as osteoporosis. Osteoporosis takes a huge personal and economic toll. In Europe, the disability due to osteoporosis is greater than that caused by cancers (with the exception of lung cancer) and is comparable or greater than that lost to a variety of chronic non communicable diseases, such as rheumatoid arthritis, are likely to drive the market in Europe.
Moreover, according to International Osteoporosis Foundation (IOF) and the European Federation of Pharmaceutical Industry Associations (EFPIA), the annual number of fractures in the European union will rise from 3.5 million in 2010 to 4.5 million in 2025, corresponding to an increase of 28%.However, the market in Asia-Pacific is expected to witness the highest growth during the forecast period. This is due rising geriatric population, increasing healthcare expenditure, and large patient’s pools. Changing lifestyle, increasing awareness about osteoporosis and improving economy structure are likely to drive the market of bone biology in Middle East & Africa.
Pfizer, Inc.,Eli Lily and Company,F. Hoffmann La Roche,Novartis Ag,Merck & Co., Inc.,Radius Health, Inc.,Teva Pharmaceutical Industries Ltd. and GlaxoSmithKline Plc are key pharmaceutical company operating in the bone biology market.