Osteoporosis is a medical condition characterized by low bone mass and deterioration of bone tissue, leading to brittle, fragile bones and increased risk of fractures. Osteoporosis treatments aims to prevent or treat low bone density and reduce fracture risk through medication and lifestyle changes like diet and exercise. Drugs commonly used for osteoporosis include bisphosphonates, calcium and vitamin D supplements, estrogen replacement therapy, selective estrogen receptor modulators (SERMs), parathyroid hormone (PTH) therapy and monoclonal antibodies. 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:
Increasing focus on preventive care is a key trend propelling the growth of the osteoporosis treatment market. Osteoporosis is often asymptomatic in the early stages until a fracture occurs, so prevention and early diagnosis are critical. Healthcare providers are promoting preventive care through public education, screening programs and lifestyle management approaches to address risk factors like inadequate calcium and vitamin D intake and lack of weight-bearing exercise. In recent years, there has also been a rise in home and point-of-care bone mineral density tests to enable early detection. Wider access to affordable screening and diagnostic solutions will help foster preventive care seeking for osteoporosis, driving demand for treatments.
SWOT Analysis
Strength: Growing prevalence of osteoporosis globally drives the demand for treatment. Growing awareness regarding osteoporosis and availability of treatment drive growth.
Weakness: High cost associated with osteoporosis treatment limits widespread adoption. Poor adherence to medication due to occurrence of side effects.
Opportunity: Large untapped opportunities in developing regions. New product launches with better efficacy and tolerability provide opportunities.
Threats: Continued patent expiries of blockbuster drugs increases competition. Stringent regulations for drug approval delays market entry of pipeline drugs.
Key Takeaways
The global osteoporosis treatment market is expected to witness high growth. Favorable government initiatives to spread awareness regarding osteoporosis have increased the adoption of treatment drugs.
Regional analysis: Asia Pacific is expected to witness the highest growth during the forecast period. Factors such as increasing healthcare expenditure, large patient pool, and growing medical tourism industry drive market growth in the region.
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 focused on new product approvals and launches to strengthen their product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it