Osteoporosis treatment aims to stop or reduce bone loss and increase bone density by using medication or therapy. The medications for osteoporosis treatment includes bisphosphonates, selective estrogen receptor modulators (SERMs), parathyroid hormone (PTH) therapy, and calcium and vitamin D supplements. These medications helps slow down or stop bone loss, help rebuild lost bone, and reduce the risk of fractures.
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.
Market key trends:
The rising geriatric population is expected to drive the growth of the osteoporosis treatment market over the forecast period. As per the United Nations, the number of people aged 60 years or over is expected to rise from 962 million globally in 2017 to 2.1 billion in 2050. The elderly population is more prone and vulnerable to osteoporosis, as bone density starts declining naturally with age. As per the data by the International Osteoporosis Foundation, approximately 30% of postmenopausal women worldwide are estimated to have osteoporosis. Thus, the increasing aging population worldwide is expected to boost the demand for osteoporosis medications and drive the market growth.
SWOT Analysis
Strength: The market has significant growth opportunities as the aging population is at high risk of osteoporosis. Moreover, the availability of innovative bone-building therapies and treatment options provides potential growth.
Weakness: High costs of novel drugs and therapies act as a barrier for many patients. Patent expiries of blockbuster drugs also impact the market.
Opportunity: Growing prevalence of osteoporosis in both men and women represents an opportunity. Emerging markets also provide scope for market expansion.
Threats: Stiff competition from generics limits the growth potential of major players. Stringent regulations for new product approvals also pose challenges.
Key Takeaways
The global osteoporosis treatment market is expected to witness high growth. Advancements in treatment options along with growing patient awareness are driving the market.
Regional analysis: North America currently dominates the market and is expected to remain the highest revenue generating region during the forecast period. This is attributed to the growing aging population, availability of advanced treatment options, and high healthcare spending in the US and Canada. However, Asia Pacific is anticipated to emerge as the fastest growing regional market owing to rising patient pool, improving access to healthcare, and increasing healthcare expenditure levels 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’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. Key players are engaged in new product launches, expansion in emerging markets, and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn