Osteoporosis Drugs Market to Grow with a CAGR of 5.73% through 2028
Increasing incidences of
osteoporosis and the growing investments in research & development by
biopharmaceutical companies is expected to drive the Global Osteoporosis Drugs
growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Osteoporosis Drugs Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Osteoporosis
Drugs stood at USD 16.09 billion in 2022 and is anticipated to grow with a CAGR
of 5.73% in the forecast period, 2024-2028. The significant factor contributing
to the growth of the osteoporosis drugs market is the increasing prevalence of
osteoporosis. Moreover, the market is further propelled by the rising geriatric
population worldwide and the adoption of sedentary lifestyles.
Additionally, the increasing number of patent
expirations is putting therapeutic pressure on the utilization of generic forms
of existing drugs, which is anticipated to further boost the market for generic
osteoporosis drugs throughout the forecast period. These combined factors are
expected to present significant growth opportunities in the near future.
Furthermore, an expansion of awareness programs aimed at educating patients and
doctors about osteoporosis treatment is projected to enhance the development
prospects of the osteoporosis market during the forecast period.
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The osteoporosis drug industry is
poised to experience significant growth due to the increasing elderly
population and the prevalence of target diseases such as osteoporosis. The
global occurrence of osteoporosis, coupled with the high demand for drugs in
prevention and treatment, is driving the expansion of the osteoporosis drug
market in recent years. The industry is projected to grow at a higher CAGR over
the next seven years, presenting numerous opportunities for market players to
invest in research and development of osteoporosis drugs.
Osteoporosis is a leading cause
of reduced bone density, leading to pain even from minor injuries or trauma.
Each year, as many as nine million people worldwide are reported to suffer from
osteoporosis, resulting in frequent osteoporotic conditions occurring every
three seconds. Menopausal women are particularly vulnerable, with one out of
three women over the age of fifty experiencing an osteoporotic fracture. These
factors contribute to the growth of the osteoporosis drugs market, creating
lucrative opportunities for market players in recent years. The substantial
increase in the elderly population in both developed and developing economies
globally is driving the demand for osteoporosis drugs.
The availability of disease
management guidelines serves as a significant catalyst for the growth of the
osteoporosis drug market. It is imperative for physicians to adhere to
evidence-based recommendations for their patients, given the escalating global
incidences of osteoporosis. These guidelines, developed based on scientific
evidence and taking into account patient needs and ongoing therapies, are
expected to foster the growth of the osteoporosis drugs market during the
forecast period.
The rise in healthcare costs
worldwide, coupled with increasing disease prevalence and government as well as
non-government initiatives, necessitates the improvement of healthcare
infrastructure and accessibility to treatment. Enhanced healthcare awareness,
focused efforts on women's health maintenance, and the introduction of new
products by manufacturers are driving factors contributing to an expanding
market share.
Moreover, the growth of the
osteoporosis drug industry is propelled by the expanding healthcare sectors in
emerging economies such as China, India, Brazil, and South Africa. To
capitalize on new growth opportunities, increased investment in research and development
is imperative. The rapidly growing geriatric population, high patient volumes,
and rising public awareness are key factors that demand improvements in
healthcare industries in these nations.
The significant global burden of
osteoporosis is projected to offer substantial growth opportunities in the
coming years. This is expected to drive the urgent need for the development of
new molecules for treatment. Consequently, the anticipated launch of several
pipeline drugs for osteoporosis treatment is expected to contribute to future
growth. Currently, there are 26 medications in Phase-I & -II and Phase IIb
and III, indicating a growing research platform. This can be attributed to
collaborative research activities initiated by major pharmaceutical companies
to enhance their competitive position in the branded medication market.
Consequently, governments in
these economies are augmenting their investments in healthcare facilities and
infrastructure. Regional expansion, new product development, industry
collaboration, talent acquisition, and mergers and acquisitions are additional
strategies employed to gain a competitive advantage in the global market. The
substantial investment in this sector, driven by a multitude of coronary stent
applications, is expected to provide opportunities for market expansion.
The Global Osteoporosis Drugs is
segmented into drug type, route of administration, application, distribution
channel, regional distribution, and company.
Based on drug type, the global
osteoporosis drug market is categorized into different drug classes that have contributed
to the market's growth. Bisphosphonates have accounted for the majority of
market shares, prompting major players to increase investments in research and
development of innovative novel bisphosphonates. The market expansion is also
driven by the widespread use of bisphosphonates in osteoporosis treatment.
During the forecast period, the rank ligand inhibitors market is expected to
experience the fastest rate of expansion, given their role in managing bone
transformation by acting as a chemoattractant to the bone for tumor cells that
accelerate their RANK receptor.
Based on region, North America
segment is expected to grow during the forecast period. North
America holds a dominant position in the osteoporosis drugs market and is
expected to maintain this trend throughout the forecast period. The region's
strong market presence is attributed to key players, a high prevalence of
osteoporosis patients, well-established healthcare infrastructure, and the
availability of branded drugs.
Among the countries in North
America, the United States has the largest market share. This is primarily due
to factors such as a growing adult population, an increasing number of
patients, and collaborative efforts by large companies to enhance their capabilities
and uphold higher medical standards. According to the National Osteoporosis
Foundation (NOF), the number of diagnosed osteoporosis cases in the United
States has exceeded 10 million since 2020, with a higher incidence among
menopausal women. Consequently, the rising incidence of osteoporosis in women
during menopause is expected to significantly contribute to the regional
osteoporosis drug market's growth.
Additionally, the increasing
demand in North America stems from collaborative research programs by major
health organizations and companies, as well as the development of new products
aiming to improve alternative therapies in the current market landscape. For
instance, in 2019, Amgen received approval from the US FDA for its Evenity
(romosozumab-aqqg), a treatment for osteoporosis in postmenopausal women at
high risk of fractures. This approval presents new growth opportunities for the
regional market. The aforementioned factors highlight the professional tone
while retaining the original meaning of the text.
Major companies operating in
Global Osteoporosis Drugs are:
- Eli Lilly and Company
- Pfizer Inc.
- F. Hoffmann-La Roche
- Teva Pharmaceutical Industries Ltd.
- GlaxoSmithKline plc.
- Novartis International AG
- Merck & Co. Inc.
- Amgen Inc.
- Radius Health Inc.
- Actavis PLC
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“The increasing prevalence of
osteoporosis, attributed to sedentary lifestyles, excessive alcohol
consumption, and rising tobacco use, is driving market growth. Additionally,
the growing number of individuals with celiac disease, kidney or liver disease,
cancer, lupus, multiple myeloma, and rheumatoid arthritis is further fueling
market expansion. Furthermore, age-related bone mass loss increases the risk of
developing osteoporosis among the elderly, contributing to the demand for
osteoporosis drugs. Moreover, regulatory authorities are actively developing
novel therapeutics, including those approved by the US Food and Drug
Administration (FDA) for postmenopausal women at high risk of fractures or
intolerant to other therapies. Additionally, the market is expected to witness
growth with the introduction of a wide range of drugs in late-stage clinical
trials.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Osteoporosis Drugs Segmented
By Drug Type (Parathyroid Hormone Therapy, Bisphosphonates, Calcitonin,
Selective Estrogen Receptor Modulators, and Other Drug Types), By Route of
Administration (Oral, Injectables, Others), By Application (Primary
Osteoporosis and Secondary Osteoporosis), By Distribution Channel (Hospital
Pharmacy, Retail Pharmacy, Online Pharmacy), By Region and Competition, Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Osteoporosis Drugs and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Osteoporosis Drugs.
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