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Osteoporosis is a condition that weakens bones, making them fragile and more likely to break. It develops silently over many years and is often not discovered until a bone breaks. Osteoporosis affects an estimated 200 million women worldwide. It is characterized by low bone mass and structural deterioration of bone tissue, leading to bone fragility and an increased susceptibility to fractures of the hip, spine, and wrist. The mainstay of osteoporosis treatment includes lifestyle changes, medication to reduce fracture risk, dietary and nutritional supplements, exercise and physical therapy.
The global osteoporosis treatment market is estimated to be valued at US$ 14.01 billion in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Growing prevalence of osteoporosis worldwide, primarily driven by rapidly aging population is a key factor propelling the market growth. With rising life expectancy and declining birth rates, the number of people aged 60 years and older is rising dramatically. By 2050, the number of older people in the world is projected to be more than double its size in 2017, growing from 962 million to 2.1 billion according to the United Nations World Population Ageing report. The osteoporosis treatment market also benefits from ongoing research and development activities directed towards developing innovative drug therapies and treatment options.
Market Dynamics
The global osteoporosis treatment market growth is driven strongly by rapid aging of world population which increases the risk of osteoporosis and osteoporotic fractures. As per World Health Organization, approximately 75 million people in Europe, United States and Japan suffer from osteoporosis and the number is growing. By 2050, over 50% of the elderly will be at risk of fracture due to osteoporosis. This high prevalence of osteoporosis worldwide provides fertile ground for growth of treatment market. Another driver for the market is ongoing R&D in developing new drug therapies and drug delivery systems to treat osteoporosis more effectively. Researchers are exploring new molecular targets and mechanisms of action to identify therapies that can prevent bone loss and reduce fracture risk more potently. Novel treatment under investigation includes sclerostin antibody romosozumab, RANK ligand inhibitor denosumab, and cathepsin K inhibitor odanacatib. Such pipeline drugs are expected to widen treatment options and boost market revenues over the forecast period.
Segment Analysis
The global osteoporosis treatment market is dominated by the drug segment. This is because drug therapy is the preferred first-line treatment for osteoporosis as medicines are relatively non-invasive and easy to administer. Within the drug segment, antiresorptive drugs account for the largest share owing to their established efficacy and safety profiles. Bisphosphonates dominate the antiresorptive drug sub-segment currently due to their extensive usage in daily practice and wide availability as generic drugs.
Pest Analysis
Political: Healthcare reforms in various countries aim to improve access to osteoporosis treatment. However, price controls and regulatory hurdles could impact revenue growth of market players.
Economic: Rising healthcare spending due to aging population and increasing incidence of osteoporosis drives market growth. However, high treatment cost remains a challenge.
Social: Growing awareness about osteoporosis and availability of newer treatment options are boosting the market. However, social stigma associated with bone diseases limits full market potential.
Technological: Advancements in drug delivery systems and development of anabolic drugs provide new opportunities. Combination therapies are being researched for superior efficacy.
Key Takeaways
The global osteoporosis treatment market is expected to witness high growth over the forecast period.
Regionally, North America currently dominates due to advanced healthcare systems and high disease awareness. However, Asia Pacific is anticipated to be the fastest growing region owing to surge in aging population, growing medical tourism, and increasing focus of market players.
Key players operating in the osteoporosis treatment market are Teva Pharmaceutical Industries Ltd., DAIICHI SANKYO COMPANY, LIMITED, Amgen Inc., Dr. Reddy’s Laboratories Ltd., Viatris Inc., Ligand Pharmaceuticals Incorporated, Eli Lilly and Company, Asahi Kasei Corporation, F. Hoffmann-La Roche Ltd, EffRx Pharmaceuticals SA, Novartis AG, Merck & Co., Inc., GSK plc., and Pfizer Inc. Teva Pharmaceutical Industries Ltd. and Amgen Inc. currently hold major market shares due to their diverse product portfolios and global presence.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
