Osteoporosis Treatment Market Is Estimated To Witness High Growth

The Osteoporosis Treatment market is estimated to be valued at US$ 14.54 Bn or Mn 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:

Osteoporosis is a progressive systemic skeletal disease characterized by low bone mass and microarchitectural deterioration of bone tissue leading to bone fragility and increased risk of fractures. The disease affects millions of people worldwide and remains largely underdiagnosed and undertreated. Some common products used in osteoporosis treatment include bisphosphonates, selective estrogen receptor modulators (SERMs), parathyroid hormone (PTH) therapy, and monoclonal antibody drugs.

Market Dynamics:
The osteoporosis treatment market is driven by the increasing geriatric population worldwide which is highly susceptible to developing osteoporosis. As per the United Nations, the population aged 60 years and above is expected to more than double, from 962 million globally in 2017 to 2.1 billion in 2050. Moreover, according to the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually worldwide with an osteoporotic fracture every 3 seconds. Thus, the rising incidence of osteoporosis-related bone fractures is also expected to propel the demand for osteoporosis treatment drugs over the forecast period. Another driver for this market includes the ongoing research and development activities leading to introduction of novel anabolic drugs with improved efficacy and better safety profiles. This is attracting more patients towards pharmaceutical therapy for osteoporosis treatment rather than conventional bone mineral density tests.

SWOT Analysis
Strength: Osteoporosis treatment market has strong presence of key players and large patient pool suffering from the disease. The increasing preference for minimally invasive procedures and advanced therapeutics are fueling the market growth. Rising awareness regarding osteoporosis and its management is positively impacting the sales of drugs and devices.

Weakness: High costs associated with osteoporosis diagnosis and treatment limit their accessibility and adoption in developing regions. Limited patient compliance due to long-term medication requirements and complex administration routes hamper the market growth to some extent.

Opportunity: Untapped potential in developing countries offers lucrative opportunities for market players. Expanding geriatric population susceptible to osteoporosis globally acts as a business opportunity. Collaborations between manufactures and healthcare providers can help increase the affordability of osteoporosis care.

Threats: Stringent regulatory frameworks for approval of osteoporosis drugs and devices add to the compliance challenges. Patent expiries of blockbuster drugs result in price erosion and affect the overall revenues of companies.

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 susceptible to osteoporosis globally. The market size for 2023 is US$ 14.54 Bn.

Regional analysis

North America dominates the global market and is expected to maintain its lead over the forecast period. This is attributed to growing elderly demographic, availability of advanced treatment options, and supportive reimbursement landscape in the region. Asia Pacific exhibits the fastest growth supported by rising healthcare expenditure, growing medical tourism, and increasing patient awareness in the region.

Key players

Key players operating in the osteoporosis treatment market are Teva Pharmaceutical Industries Ltd., DAIICHI SANKYO COMPANY, LIMITED, Amgen Inc., Dr. Reddy€TMs 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.

 

Read more: https://www.rapidwebwire.com/osteoporosis-treatment-market-insights-trends/

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