by The global Osteoporosis Treatment Market is estimated to be valued at US$ 14.54 Bn or 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.
Market Overview:
Osteoporosis is a disease characterized by low bone mass and structural deterioration of bone tissue, leading to bone fragility and an increased risk of fractures, especially of the hip, spine, and wrist. Drugs like bisphosphonates, selective estrogen receptor modulators (SERMs), parathyroid hormone (PTH) analogs, and calcitonin are used for the treatment and management of osteoporosis.
Market key trends:
One of the major trends in the osteoporosis treatment market is the growing preference for orally administered osteoporosis drugs over injectables. Oral administration provides higher patient compliance as compared to injectables. Moreover, oral drugs like bisphosphonates have well established long term safety and efficacy data. For instance, majority of the osteoporosis patients undergoing long term bisphosphonate treatment have demonstrated fracture risk reduction for more than 10 years. However, injectable drugs like PTH analogs provide greater increase in bone density when compared to oral bisphosphonates. The inconvenience of injections has encouraged the development of selective, tissue-targeted drugs that can be administered orally.
Market Key Trends:
The osteoporosis treatment market has been witnessing a rise in adoption of anabolic drugs like teriparatide. These drugs have shown better efficacy as compared to the conventional anti-resorptive drugs like bisphosphonates and estrogens. Teriparatide stimulates new bone formation and increases bone mineral density at the spine and hip. Growing availability of biosimilars is also driving the market as they provide an affordable treatment option. However, inadequate diagnosis continues to limit the treatment uptake in developing nations.
SWOT Analysis
Strengths: Rising geriatric population who are at higher risk of osteoporosis drives the market growth. Development of improved anabolic drugs with better efficacy and less side effects.
Weaknesses: Under diagnosis of osteoporosis limits treatment adoption. High cost of advanced drugs restricts their use especially in low and middle income countries.
Opportunities: Increasing awareness and screening programs can help diagnose more cases. New drug delivery methods can enhance patient compliance.
Threats: Patent expiration of blockbuster drugs increases competition and price erosion. Stringent regulatory approval process delays market entry of novel drugs.
Key Takeaways
The Global Osteoporosis Treatment Market Size is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing geriatric population who are at higher risk of developing osteoporosis.
Regional analysis: North America dominates the market owing to rising prevalence of osteoporosis. Asia Pacific is expected to witness fastest growth due to growing medical infrastructure and screening programs in countries like China and India.
Key players operating in the Osteoporosis Treatment market are Teva Pharmaceutical Industries Ltd., DAIICHI SANKYO COMPANY, LIMITED, Amgen Inc., Dr. Reddy€TMs 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
