Osteoporosis is a condition characterized by low bone mass and structural deterioration of bone tissue, leading to bone fragility and an increased risk of fractures. It is most commonly seen in post-menopausal women, as well as the elderly population above the age of 50 years. Osteoporosis treatments aim to maximize bone strength and reduce fracture risk through medications, supplements, and lifestyle modifications. Common medications for osteoporosis treatment include bisphosphonates, parathyroid hormone therapy, selective estrogen receptor modulators, and monoclonal antibodies. These medications work by inhibiting bone resorption, stimulating bone formation, or both.
The global osteoporosis treatment market is estimated to be valued at US$ 14.01 Bn 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 Dynamics:
One of the key drivers for the growth of the osteoporosis treatment market is the rising geriatric population worldwide, which is the demographic group most prone to developing osteoporosis. As per data by the United Nations, the population aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050. This is expected to significantly increase the demand for osteoporosis treatments such as medications to reduce fracture risk in the elderly. Additionally, growing awareness regarding osteoporosis treatment options among both patients and physicians is also expected to aid market growth over the forecast period. However, patent expiries of blockbuster osteoporosis drugs such as Fosamax, Actonel, and Boniva between 2017 to 2024 leading to availability of generic versions may hamper the market growth during the forecast period.
SWOT Analysis
Strength: Osteoporosis is a major public health concern affecting large patient population. Growing government initiatives to spread awareness about the disease is helping drive the market growth. Introduction of novel drug delivery technologies in treatment options are helping improve patient outcomes and compliance to medications.
Weakness: High cost associated with branded therapies poses a major limitation in market growth especially in low and middle-income markets. Adverse effects associated with long term use of bisphosphonates, the mainstream medications, limits consistent adherence to treatment.
Opportunity: Rising geriatric population making osteoporosis a common comorbidity presents a steady growth opportunity. Untapped potential in emerging Asian and Latin American countries yet to adopt standardized care standards represents an area for market penetration. Launch of therapies targeting post-menopausal women and patients with low bone mineral density expands addressable patient pool.
Threats: Entry of generic versions eroding markets shares of leading brands results in price erosion and affects revenues of innovator companies. Stringent regulations for approval of new drug entities increases costs and timeline for product development.
Key Takeaways
The global osteoporosis treatment market is expected to witness high growth driven by consistent rise in incidence rates attributable to aging demographics and sedentary lifestyles. The market size was valued at US$ 14.01 billion in 2023 and is forecast to reach US$ 20.45 billion by 2030, registering a CAGR of 3.8%.
Regional analysis: Asia Pacific region represents the fastest growing market for osteoporosis treatment owing to rapidly expanding patient demographics and improving access to affordable medications in major countries like China, India, and Japan. North America currently dominates the global market supported by developed healthcare systems and established patient awareness programs, however future growth rates will be higher in Asia.
Key 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.
Check the Generic and brand Medication List - https://bit.ly/3gz0nj1
