by The global Osteoporosis Treatment Market is estimated to be valued at US$ 14.54 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 Overview:
The osteoporosis treatment market comprises drugs and medical devices used for the management and treatment of osteoporosis. Osteoporosis is a condition characterized by reduced bone density and quality, which leads to an increased risk of fractures. Some key drugs available in the market include bisphosphonates, parathyroid hormone therapy, selective estrogen receptor modulators (SERMs), calcitonin, and monoclonal antibodies. Medical devices such as bone stimulators and bone morphogenetic proteins are also used. Growing geriatric population, rising risk of osteoporosis due to lifestyle changes, increasing incidence of fractures are some key factors fueling the demand for osteoporosis treatment drugs and devices.
Market key trends:
The ongoing R&D in drug development is one of the major trends witnessed in the osteoporosis treatment market. Several pharmaceutical companies are engaged in developing novel medications such as sclerostin inhibitors, cathepsin K inhibitors, and RANK ligand inhibitors. For instance, Amgen’s romosozumab is a sclerostin inhibitor approved for treatment of osteoporosis. Trends also indicate shift towards combination therapy from monotherapy. For example, combination of bisphosphonates with selective estrogen receptor modulators. Also, treatment options are expanding from antiresorptives such as bisphosphonates to bone forming medications such as teriparatide. Development of generic drugs is also supporting the market growth by increasing accessibility and reducing costs. With the growing geriatric population presenting higher risk of fractures, the demand for cost-effective osteoporosis management is set to surge in the forecast period.
Porter’s Analysis
Threat of new entrants: The osteoporosis treatment market requires high investments for R&D of new drugs. Established brands and patents provide advantages to existing players and create entry barriers for new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate in this market. However, availability of generic alternatives provides options to buyers.
Bargaining power of suppliers: Major players control the supply of active pharmaceutical ingredients and raw materials required for drug development. This enables suppliers to influence prices.
Threat of new substitutes: Alternate treatment options like supplements, diet changes and exercise pose a mild threat. However, severity of the condition requires drug interventions.
Competitive rivalry: The market is consolidated with few major global players dominating the market.
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 suffering from bone disorders.
Regional analysis: North America dominates the market currently due to favorable reimbursement policies and growing patient awareness. However, Asia Pacific is expected to grow at the fastest pace due to rising healthcare investments and large base of osteoporotic patients in China and India.
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. These players are focusing on developing novel drugs and establishing collaborations for market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
