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.