|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 14.36 Billion
|
|
CAGR (2023-2028)
|
7.2%
|
|
Fastest Growing Segment
|
Bisphosphonates
|
|
Largest Market
|
North America
|
Market Overview
Global Osteoporosis Drugs Market
has valued at USD 14.36 Billion in 2022 and is anticipated to project impressive
growth in the forecast period with a CAGR of 7.2% through 2028. Osteoporosis is
a disease characterized by the deterioration of bone tissues and strength.
Diagnosis involves the use of various scans, including X-ray, computed
tomography (CT), and magnetic resonance imaging (MRI). Currently, a wide range
of drugs are available in different formulations, from regular tablets to
intravenous (IV) infusions, to alleviate the symptoms of osteoporosis. These
medications help restore the balance between resorption and formation, repair
microscopic bone defects, reduce the risk of fractures, and enhance overall
muscle strength in patients.
Key Market Drivers
Increasing Incidences of
Osteoporosis
The increasing incidences of
osteoporosis are undeniably contributing to a significant rise in the demand
for osteoporosis drugs. Osteoporosis, characterized by weakened bones that are
more prone to fractures, primarily affects the elderly population, especially
postmenopausal women. Osteoporosis disproportionately affects women, especially
postmenopausal women, due to hormonal changes that accelerate bone loss. As the
female population grows, so does the prevalence of osteoporosis, which directly
fuels the demand for drugs designed to manage and mitigate the condition.
Growing Clinical Trials and
Rising Geriatric Population
Osteoporosis is most common in
the elderly, particularly postmenopausal women. With a globally aging
population, there is a substantial increase in the number of individuals at
risk of developing osteoporosis. As people age, their bone density naturally decreases,
making osteoporosis more prevalent among seniors. - There is a significant and
growing market opportunity in the field of research and development, as key
players continue to invest in enhancing their technological capabilities. These
investments are aimed at driving novel advancements that can meet the evolving
needs of various industries. Additionally, the market is being influenced by
the rising prevalence of osteoporosis, a condition characterized by weakened
bones. This trend is creating a demand for innovative solutions that can
effectively address the challenges posed by osteoporosis.
For instance, according to a
report by the World Health Organization in 2022, the global population of
individuals aged 60 and older is projected to reach one in six by the year
2030. By this point, the number of people over the age of 60 is expected to reach
a staggering 1.4 billion, marking a significant increase from the 1 billion
recorded in 2020. Looking further ahead, the number of individuals aged 60 or
older is projected to double by 2050, reaching a staggering 2.1 billion.
Furthermore, between 2020 and 2050, the number of people aged 80 or older is
expected to triple, reaching a noteworthy 426 million.
These statistics paint a vivid
picture of the demographic changes that are taking place globally, underscoring
the need for innovative solutions that can cater to the needs of an aging
population. As a result, the market for products and services aimed at
addressing the challenges associated with aging, such as osteoporosis, is
poised for significant growth and presents a unique opportunity for businesses
operating in this space.
Improved Awareness and
Diagnosis
Advances in medical knowledge and
diagnostic technologies have led to more accurate and earlier diagnoses of
osteoporosis. Increased awareness of the disease and its potential consequences
prompts individuals to seek medical intervention and treatment, driving up the
demand for osteoporosis drugs.
The Growing Investments in
Research and Development
The expanding body of research on
osteoporosis medications, coupled with increased investments by major
biopharmaceutical companies, the growing elderly population, and the emergence
of innovative technologically advanced therapies, collectively drive the growth
of the global osteoporosis drug market.
For instance, in April 2023, the
Van Andel Research Institute published a report highlighting a significant
factor that contributes to reduced bone density. This discovery holds the
potential for developing more efficient medications with fewer adverse effects
for women with osteoporosis. The global osteoporosis drugs market is witnessing
significant expansion due to increasing research studies on osteoporosis drugs,
rising regulatory approvals for innovative products, a growing geriatric
population, and advancements in technologically advanced therapies.
In the upcoming years, the market
is poised to grow as a result of increased investment in research and
development by biotechnology and pharmaceutical companies. For example, in
October 2020, the Italian pharmaceutical regulatory body approved human clinical
studies for the osteoporosis medicine raloxifene. Researchers believe that this
treatment may also have potential benefits for individuals with COVID-19,
improving their well-being and reducing contagion. Positive outcomes from
clinical trials could lead to the development of new therapeutic options,
thereby driving future market expansion. Furthermore, the increasing incidence
of osteoporosis worldwide among individuals with reduced bone density is
another important factor contributing to market growth. According to
Osteoporosis Canada 2022, more than 2.3 million Canadians suffer from osteoporosis,
with osteoporosis being responsible for 80% of fractures in adults aged 50 and
older.
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Key Market Challenges
Stringent Regulatory
Environment
A stringent regulatory
environment has played a role in decreasing the demand for osteoporosis drugs,
primarily by impacting drug development, marketing, and access. Osteoporosis
drugs, like all pharmaceuticals, must undergo rigorous clinical trials and meet
stringent safety and efficacy criteria before gaining approval. These trials
can be time-consuming and resource-intensive, delaying the introduction of new
drugs to the market. Patients suffering from osteoporosis may not have timely
access to innovative treatment options, decreasing demand for existing drugs.
Meeting regulatory requirements
often entails substantial research and development costs for pharmaceutical
companies. These costs can translate into higher prices for osteoporosis drugs,
potentially limiting affordability and reducing patient access. Regulatory
agencies, understandably, prioritize patient safety. While this is essential,
the stringent safety standards can sometimes hinder the availability of certain
drugs. This is particularly true if a drug shows even a remote risk of adverse
effects, leading to limited demand for drugs with potential benefits.
High Costs Of Treatment
The high costs of treatment pose
a significant challenge for the growth of the osteoporosis drugs market
vendors. Osteoporosis, a condition characterized by weakened bones, requires
long-term management to reduce pain and improve functions. However, as no
therapy has the potential to reverse joint damage, patients often face
life-long expenses for treating the disease and preventing symptoms using
drugs. Moreover, the cost of treatments varies across regions, influenced by
various health condition factors.
According to the Centers for
Disease Control and Prevention (CDC), osteoporosis is the second most prevalent
health condition treated globally. This widespread prevalence imposes a high
financial burden not only on patients but also on healthcare systems. The
substantial costs associated with managing osteoporosis are expected to hinder
the growth of the osteoporosis drugs market during the forecast period.
It is crucial to address the
issue of high treatment costs and explore innovative solutions to make
osteoporosis drugs more accessible and affordable for patients worldwide. By
doing so, we can alleviate the financial burden on individuals and healthcare
systems while ensuring effective management of this prevalent health condition.
Key Market Trends
Precision Medicine
The development of personalized
osteoporosis treatments tailored to an individual's genetic and lifestyle
factors is on the horizon. This approach aims to maximize the effectiveness of
therapies while minimizing side effects. Personalized medicine allows for more
precise risk assessment. Patients with a family history of osteoporosis or
specific genetic predispositions can be identified early, enabling proactive
interventions to prevent bone loss and fractures. Personalized medicine may
involve adjusting medication dosages based on an individual's genetic and
metabolic characteristics. This ensures that patients receive the right amount
of medication to achieve therapeutic benefits while minimizing the risk of side
effects.
Patients undergoing personalized
treatment receive ongoing monitoring and follow-up care. This proactive
approach allows healthcare providers to assess treatment efficacy and make
adjustments as needed, ensuring that the patient's bone health remains optimized.
Novel Drug Targets
Ongoing research is uncovering
new molecular targets for osteoporosis drugs. These targets may include
specific proteins or cellular pathways involved in bone metabolism, offering
opportunities for innovative drug development. With a deeper understanding of
the molecular mechanisms underlying bone metabolism, researchers can design
drugs that specifically target these mechanisms. This includes the development
of small molecules, antibodies, and other therapeutic agents tailored to
interact with specific proteins or signaling pathways.
Ongoing research is uncovering a
wealth of knowledge about the molecular targets involved in osteoporosis. These
discoveries hold the potential to revolutionize the development of osteoporosis
drugs, leading to more effective, targeted, and personalized treatments that
improve bone health and reduce the risk of fractures in individuals living with
this condition.
Segmental Insights
Route of Administration Insights
Based on the route of administration, the
market for osteoporosis is segmented into oral, injectable, and others. Oral
drugs are known for being cost-effective and safe, although they may have mild
side effects. Rare serious effects, such as osteonecrosis of the jaw, have been
reported. However, in terms of effectiveness, oral medications have proven
successful in treating osteoporosis. For instance, alendronate (Fosamax) has
shown its ability to reduce the risk of hip fractures by 50%. Notably, patients
commonly prefer oral drugs due to their convenience and the avoidance of
injections or infusions, as indicated by studies focusing on patient
preferences. This preference highlights the importance of oral medications in
the management of osteoporosis.
Injectable drugs like denosumab (Prolia) have
emerged as highly effective options with immediate effects for treating
osteoporosis. These medications, while generally safe, do come with the
potential for mild side effects. Additionally, there is a rare but serious risk
of osteonecrosis of the jaw (ONJ) associated with their use. Despite these
considerations, the patent protection granted to these injectable drugs ensures
exclusivity, allowing manufacturers to set higher prices. To further maximize
their market presence, manufacturers heavily invest in marketing efforts, which
in turn influence prescribing patterns. Interestingly, brand loyalty among
patients continues to drive the Osteoporosis Drugs Market, even in the presence
of alternative treatment options.
Drug Type Insights
In terms of Drug Type, the bisphosphonates
accounted for a significant share of the osteoporosis drugs market in 2022.
This can be attributed to the increased investment in research and development
of advanced novel bisphosphonates drugs by major players in the pharmaceutical
industry. Moreover, bisphosphonates are widely prescribed drugs for the
treatment of osteoporosis, which further drives the growth of the market.
On the other hand, the rank ligand inhibitors
segment is projected to witness the fastest growth rate during the forecast
period. This is primarily due to the fact that these drugs are specifically
used to treat bone metastasis by acting as a chemoattractant to bone for tumor
cells expressing its receptor, RANK. As a result, the inhibition of the
RANKL-RANK pathway serves as an ideal treatment approach for bone metastasis. The
detailed understanding and utilization of these drug types contribute to the
advancement of osteoporosis treatment, ultimately improving the quality of life
for patients affected by this condition.
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Regional Insights
Region wise, North America
accounted for the major share in 2018 and is expected to continue this trend.
This can be attributed to the easy availability of osteoporosis drugs in the
region, which has contributed to its growth. Additionally, the surge in the
incidence of osteoporosis has further fueled the demand for these drugs.
On the contrary, Asia-Pacific is
anticipated to register the fastest growth during the forecast period. This can
be attributed to the increasing awareness regarding the use of osteoporosis
drugs in the region. Furthermore, the constantly evolving life science industry
has been a key driver of the market's growth in developing economies such as
India, China, and Malaysia. The presence of a robust market and the focus on
research and development activities have propelled the growth of the
osteoporosis drugs market in these regions.
Recent Developments
- In May 2023, a recent real-world study
involving nearly half a million postmenopausal women with osteoporosis in the
U.S. Medicare program revealed that Prolia (denosumab) injection demonstrated a
reduction in fracture risk when compared to oral alendronate, a commonly
prescribed bisphosphonate medication. Furthermore, the long-term use of Prolia
was associated with significant decreases in the risk of fractures.
- In August 2021, Enzene Biosciences Ltd obtained
Marketing Authorization (MA) from the Drug Controller General of India (DCGI)
for its biosimilar drug, denosumab. This particular drug is indicated for the
treatment of osteoporosis in adults.
- In January 2021, Livogiva, an osteoporosis
medicine, was launched in Europe by Theramex, a pharmaceutical company
headquartered in London.
Key Market Players
- 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
|
By
Drug Type
|
By
Route of Administration
|
By
Application
|
By
Distribution Channel
|
By
Region
|
- Parathyroid
Hormone Therapy
- Bisphosphonates
- Calcitonin
- Selective
Estrogen Receptor Modulators
- Other
Drug Types
|
|
- Primary
Osteoporosis
- Secondary
Osteoporosis
|
- Hospital
Pharmacy
- Retail
Pharmacy
- Online
Pharmacy
|
- North
America
- Europe
- Asia
Pacific
- South
America
- Middle
East & Africa
|
Report Scope:
In this report, the Global Osteoporosis
Drugs Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- Osteoporosis
Drugs Market, By Drug Type:
o
Parathyroid
Hormone Therapy
o
Bisphosphonates
o
Calcitonin
o
Selective
Estrogen Receptor Modulators
o
Other
Drug Types
- Osteoporosis
Drugs Market, By Route of Administration:
o
Oral
o
Injectables
o
Others
- Osteoporosis
Drugs Market, By Application:
o
Primary
Osteoporosis
o
Secondary
Osteoporosis
- Osteoporosis
Drugs Market, By Distribution Channel:
o
Hospital
Pharmacy
o
Retail
Pharmacy
o
Online
Pharmacy
- Osteoporosis
Drugs Market, By Region:
o North
America
§ United
States
§ Canada
§ Mexico
o Europe
§ France
§ United
Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South
Korea
o South
America
§ Brazil
§ Argentina
§ Colombia
o Middle
East & Africa
§ South
Africa
§ Saudi
Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Global Osteoporosis Drugs Market.
Available Customizations:
Global Osteoporosis Drugs market
report with the given market data, Tech Sci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
Global Osteoporosis Drugs Market
is an upcoming report to be released soon. If you wish an early delivery of
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