The global osteoporosis drugs market size was valued at USD 8.9 billion in 2022. It is estimated to reach USD 12.12 billion by 2031, growing at a CAGR of 3.5% during the forecast period (2023–2031).
Osteoporosis medications are defined as therapeutic medicines used to treat osteoporosis. Osteoporosis is a serious medical condition associated with the presence of fragile bones. These fragile bones are dense and highly susceptible to fractures. Moreover, the condition is caused due to overproduction of the hormone parathyroid and leads to limited mobility in patients suffering from the condition. Therefore, this medical condition requires early diagnosis and medical treatment, which includes administering various drugs such as bisphosphonates selective estrogen inhibitors modulators (SERM), parathyroid hormone therapy, calcitonin, and rank ligand inhibitors.
In addition, these drugs are administered through different routes in the body, such as the oral route of administration and the intravenous route of administration. These medications are typically administered through different routes, depending on the specific drug and the patient's needs. Some drugs can be consumed orally, while others may require intravenous administration. The choice of administration route depends on factors such as drug efficacy, patient compliance, and individual treatment plans.
According to estimates, osteoporosis affects more than 200 million individuals globally, and the prevalence of osteoporosis is expected to continue to escalate with the increase in the geriatric population. The major complication of osteoporosis is an increase in fragility fractures leading to morbidity, mortality, and decreased quality of life. A baseline fracture strongly predicts further fractures, with 20% of patients experiencing a second fracture within the first year. The costs of healthcare services are considerable and, on current trends, are predicted to double by 2050.
Additionally, guidelines for osteoporosis diagnosis and therapy are available in many countries; however, implementation is poor despite the availability of treatments with proven efficacy. Programs to increase awareness of osteoporosis and its outcomes are necessary for healthcare specialists and the general public. Earlier diagnosis and intervention before the first fracture are highly desirable. Thus, all these factors collectively contribute to the growth of the global market.
Lifestyle changes have impacted the bone health of the young population, owing to a lack of exercise and the adoption of a sedentary lifestyle. This has increased the mortality rate and doubled the risk of diabetes, obesity, and cardiovascular diseases. Moreover, this inactive lifestyle increases the risks of colon cancer, high blood pressure, lipid disorders, anxiety, and depression. It further increases the risk of developing osteoporosis. Hence, adopting a sedentary lifestyle is expected to increase the demand for osteoporosis drugs worldwide. Furthermore, sedentary activity raises the risk of acquiring other health problems such as colon cancer, high blood pressure, lipid disorders, anxiety, and depression. These conditions directly or indirectly impact bone health and can further exacerbate the risk of developing osteoporosis.
The parathyroid hormone drugs include Tymlos (abaloparatide) and Forteo (teriparatide), which help the body build new bones. However, some patients are reluctant to take due to their side effects of osteoporosis drugs. For instance, the side effects of all the bisphosphonates, such as alendronate, ibandronate, risedronate, and zoledronic acid, may include bone, joint, and muscle pain. Moreover, the side effects of oral tablets of bisphosphonates may include nausea, heartburn, difficulty swallowing, irritation of the esophagus, and gastric ulcer. Hence, the side effects of osteoporosis drugs hamper the market's growth. A person can only take these medications for two years because it is unclear whether they are safe to use for an extended period. Thus, all these factors collectively restrain the growth of the global market.
North America and Europe are the technologically advanced regions in the market. However, since these regional markets are saturated, the growth rates in these regions are estimated to be slow during the forecast period. Although these regions are the dominant segments in the market, emerging nations in Asia-Pacific and LAMEA are expected to have better growth opportunities during the forecast period. Among these emerging nations, it has been observed that countries such as Brazil, Japan, India, and China have become more aware of their healthcare needs and advanced drug delivery system and have taken initiatives to improve their healthcare infrastructure.
Furthermore, the governments in these regions have increased healthcare expenditure and private companies are investing in the R&D of targeted drug delivery devices. Moreover, the cost of production is high in developed nations compared to that in emerging countries like China, Brazil, and India, which is expected to increase the profit margin for pharmaceutical and biotech companies in developing countries.
The global market is bifurcated into drug class and route of administration.
Based on drug class, the global market is bifurcated into bisphosphonates, selective estrogen inhibitors modulators (SERM), parathyroid hormone therapy, calcitonin, rank ligand inhibitors, and others.
The bisphosphonates segment dominates the global market and is projected to exhibit a CAGR of 1.1% over the forecast period. Bisphosphonates hold the majority share in the global market, owing to the various drugs marketed under this class, such as Fosamax, Boniva, Actonel, Reclast, alendronate, and Zometa. Moreover, the presence of major players and their increase in investment in the research & Development of advanced, novel bisphosphonates drugs fuels the growth of the global market. However, safety concerns associated with bisphosphonate drugs, such as atypical femur fractures due to long-term use, restrict the market's growth.
Bisphosphonates are a class of osteoporosis drugs that prevent the loss of bone density. In addition, these are the proven drugs to prevent fractures in patients with established osteoporosis and those with fracture risk. Moreover, the risk of hip and spine fractures in osteoporosis can be decreased by using bisphosphonates. These are the class of medications that are widely prescribed to treat osteoporosis. The class's name is bisphosphonates, which have two groups of phosphonates (PO(OH)).
Based on the route of administration, the global market is bifurcated into oral and injectable.
The oral segment owns the highest market share and is predicted to exhibit a CAGR of 3.2% during the forecast period. The oral administration of agents such as Fosamax, Boniva, Actonel, Reclast, alendronate, and Zometa has exhibited positive clinical outcomes for patients with selected infections from introducing these osteoporosis drugs. Many newer osteoporosis drugs were not acid-stable or had unacceptably low bioavailability when administered orally. The effectiveness of orally delivered osteoporosis medications has recently been scrutinized due to several issues. The factors include the availability of oral agents with improved absorption (superior bioavailability) that ensure to provide adequate blood levels with oral administration, an upsurge in awareness of the negative effects of prolonged IV drug administration, such as phlebitis, local and vascular infection, excess fluid administration, patient discomfort, and others; and rise in pressure on physicians to provide more cost-effective therapies for patients.
Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America is the most significant global market shareholder and is estimated to grow at a CAGR of 3.15% over the forecast period. The drug delivery devices market in North America is currently dominated by the U.S., with a significant market share. Multiple factors contribute, including enhanced medical technology, increased purchasing power, and an established healthcare system. In addition, the region is experiencing a growth in osteoporosis prevalence, further fueled by the increasing aging population. As this senior population is highly susceptible to osteoporosis, there is expected to be a significant demand for osteoporosis drugs, leading to market growth in the region. Important players in North America are present in large numbers, including Amgen Inc., Radius Health, Inc., Merck & Co. Inc., and Pfizer Inc., which further contributes to the market's growth. The presence ensures the easy availability of osteoporosis drugs, meeting the increasing demand in the region.
Additionally, the market is driven by factors such as the growth in R&D activities focused on launching new drugs. For example, Amgen's FDA approval of EVENITY (Romosozumab-Aqqg) for osteoporosis therapy in postmenopausal women at high risk for fractures strengthens their product portfolio. It also provides improved treatment options in the region.
Europe is estimated to exhibit a CAGR of 3.4% over the forecast period. Due to higher disposable income, Europe is second in the market. Other elements that propel the growth of the market in the region include the surge in the prevalence of osteoporosis and the rise in awareness toward the use of osteoporosis drugs. Moreover, the presence of important players such as Hoffmann-La Roche Ltd. and Novartis International AG in the region is another important factor contributing to the rise in the sale of osteoporosis drugs, thereby augmenting the market growth.
Furthermore, a surge in awareness related to early diagnosis of the medical condition is another factor that contributes to the growth of the market. For instance, International Osteoporosis Foundation (IOF), a non-governmental organization, is a global alliance of individuals and organizations. Similarly, IOF operates to spread information about the prevention, diagnosis, and treatment of osteoporosis. Therefore, all these factors collectively drive the market growth in Europe.
The Asia-Pacific region, comprising countries such as China, Japan, India, Australia, South Korea, and others, presents significant opportunities for the market and is expected to rise substantially in the anticipated period. The region benefits from its high population, with China and India ranking as the first and second most populous countries. This demographic advantage provides a large patient base, assured to drive the growth of the market in Asia-Pacific. Furthermore, increased healthcare expenditure and a surge in research and development efforts focused on osteoporosis drugs contribute to market expansion. The presence of key players like Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, and Sun Pharmaceutical Industries Ltd. in the region further stimulates the adoption and availability of osteoporosis drugs, bolstering the market growth.
In LAMEA, the market is in its nascent phase due to low buying power in the region, lack of advanced healthcare facilities, inadequate health expenditure, and insufficient health coverage. Therefore, this hinders the growth of osteoporosis drugs in this region. However, the governments of the countries in LAMEA have increased their spending for the healthcare segment to attract key players to expand their businesses in this region, which is anticipated to offer lucrative opportunities for market expansion. Moreover, an increase in the burden of osteoporosis in the region leads to a surge in demand for quicker healthcare services, fuelling the market's growth.
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