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Press Release: Osteoporosis Treatment Market to Surpass US$ 16.6 Bn Threshold by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Osteoporosis Treatment Market- Insights
Osteoporosis is characterized by reduction in the density and quality of bones that often result in broken bones in the wrist, hip, and spine. Various factors responsible for osteoporosis include, genetic factors, low intake of calcium, magnesium, and vitamin D, eating disorders such as anorexia, inactivity and immobility, and excessive alcohol intake.
Moreover, conditions that increase the risk of osteoporosis include, cancer, chronic kidney diseases, chronic obstructive pulmonary disease, and some autoimmune disease such as rheumatoid arthritis. Osteoporosis treatment involves preventing and treating fractures and using medication to strengthen bones.
The treatment usually includes medications such as Bisphosphonates that are the most common drugs prescribed. Furthermore, hormone therapy treatment is recommended for post-menopausal women, as they experience a drop in the levels of estrogen, which weakens the bones.
Frequent launches and approvals of novel osteoporosis treatment drugs is expected to drive growth of the market
Key players in the market are focused on launching novel osteoporosis drugs in the market, which is expected to boost the global osteoporosis treatment market growth. For instance, in 2016, EffRx Pharmaceuticals SA marketing partner— Ahn-Gook Pharmaceutical Co. Ltd. — received Korean Ministry of Food and Drug Safety (MFDS) approval for its drug Binosto—a buffered solution indicated for the treatment of osteoporosis.
In 2013, Daiichi Sankyo Company Ltd., launched its drug PRALIA—a subcutaneous injection for the treatment of osteoporosis, in Japan. In May 2018, Amgen Inc. received the U.S. Food and Drug Administration approval for its drug Prolia indicated for the treatment of glucocorticoid-induced osteoporosis (GIOP) in men and women at high risk of fracture.
The global osteoporosis treatment market size was valued at US$ 11.8 Bn in 2017, and is expected to witness a CAGR of 3.8% over the forecast period (2018 – 2026).
Figure 1. Global Osteoporosis Treatment Market Share (%), By Distribution Channel, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing incidence of osteoporosis with rising ageing population is expected to lead to high demand for osteoporosis treatment drugs
High prevalence and increased diagnosis of osteoporosis in geriatric population is expected to rise demand for osteoporosis drugs and fuel the osteoporosis treatment market growth. For instance, according to a report by United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, Asia Pacific constituted around 60% of the world’s geriatric population. Moreover, around 547 million people were aged above 60 years in the region and this number is expected to double and reach around 1.3 billion by 2050.
Furthermore, key players are involved in strategic collaboration for the development of novel osteoporosis drugs to launch in the market. For instance, in June 2018, Pfenex Inc. and Alvogen Inc. entered into strategic agreement for the development of Pfenex Inc.’s osteoporosis drug candidate PF708. According to the agreement, Pfenex’s granted exclusive rights to commercialize PF708 to Alvogen Inc.
Asia Pacific osteoporosis treatment market is expected to witness significant growth over the forecast period, owing to increasing strategic collaboration of key players with Asian companies for penetrating key regions in Asia Pacific and to expand its product presence. For instance, 2013, EffRx Pharmaceuticals SA collaborated with South Korea-based, Ahn-Gook Pharmaceutical Co. Ltd., for the distribution of Binosto osteoporosis drug in South Korea.
Europe osteoporosis treatment market is expected to witness significant growth over the forecast period, owing to the penetration of key players in the region and focus of key players to receive approval for its new osteoporosis drugs in the market. For instance, in January 2018, the European Medicine Agency (EMA) accepted Amgen Inc. And Union Chiriquí Belge’s (UCB) submission to review their drug Evenity (romosozumab) — an anabolic agent indicated for treatment of postmenopausal women and men with osteoporosis.
Figure 2. Global Osteoporosis Treatment Market Share (%), By Region, 2017
Source: Coherent Market Insights Analysis (2018)
However, launch of generic versions of osteoporosis drugs is expected to restrain revenue growth of the osteoporosis treatment market, owing to low price of generic drugs as compared to branded. For instance, in 2015, Teva Pharmaceutical Industries Ltd. launched generic version of Actonel (risedronate sodium) Tablets, 5 mg, 30 mg, and 35 mg in the U.S. market. In 2012, Dr. Reddy's Laboratories launce its generic anti-osteoporosis drug Ibandronate Sodium, in 2012 Mylan Inc. received U.S. Food and Drug Administration approval for Ibandronate Sodium Tablets, 150mg, a generic version of F. Hoffmann-La Roche AG’s Boniva indicated for treatment of osteoporosis in postmenopausal women
Key players operating in the global osteoporosis treatment market include Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Amgen Inc., Dr. Reddy's Laboratories, Mylan Inc., Pfenex Inc., Eli Lilly and Company, Asahi Kasei Corporation, F.Hoffmann La Roche AG, EffRx Pharmaceuticals SA, Novartis AG, Merck & Co AG, GlaxoSmithKline Plc., Allergan plc., and Pfizer Inc.
Osteoporosis is a bone related disease that weakens bones and increase the risk of fracture and breaking of bones. The factors responsible for osteoporosis include, long-term use of high-dose oral corticosteroids, a family history of osteoporosis – particularly history of a hip fracture in a parent, having a low body mass index (BMI), heavy drinking and smoking, and others. The prevalence of osteoporosis is high among the adult population. For instance, according to a report by National Osteoporosis Foundation in 2016, around 54 million adult in the U.S were suffering from osteoporosis or have low bone density.
Market Dynamics
Increasing approvals and launches of novel osteoporosis drugs is expected to significantly drive the osteoporosis treatment market growth over forecast period. For instance, in 2013, Pfizer Inc. received the U.S. Food and Drug Administration (FDA) approval for its drug— DUAVEETM (conjugated estrogens/bazedoxifene) 0.45mg / 20mg tablets—for the treatment of moderate-to-severe vasomotor symptoms associated with menopause and the prevention of postmenopausal osteoporosis. Furthermore, osteoporosis commonly affects older adults and increasing geriatric population is expected to lead to high demand for osteoporosis treatment drugs. For instance, according to a report by United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015 and this is expected to reach 22% by 2050 that accounts for 2 billion people.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 32 market data tables and 30 figures on “Osteoporosis Treatment Market - Global forecast to 2026”.
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