Global Osteoporosis Treatment Market, by Drug Type (Bisphosphonates (Alendronate, Risedronate, Ibandronate, Zoledronic Acid, and Others), Calcitonin, Hormone Therapy, Selective Estrogen Receptor Modulators (SERMs), Parathyroid Hormone-Related Protein (PTHrP) Analog, and Rank Ligand (RANKL) Inhibitor), by Route of Administration (Oral, Injectable, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 14.01 Billion in 2022 and is expected to exhibit a CAGR of 3.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased awareness campaigns for raising awareness amongst people to maintain bone health is expected to drive market growth over the forecast period. For instance, in April 2022, the International Osteoporosis Foundation had announced #LiftOffForBoneHealth, a new online public awareness campaign in cooperation with the European Space Agency (ESA) and celebrated ESA astronaut Samantha Cristoforetti. Establishing an effective training program is essential for the future of long-duration spaceflights as well as for multimodal osteoporosis prevention and treatment in people
Global Osteoporosis Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
The COVID-19 pandemic had a negative impact on the osteoporosis treatment market, due to the delay in treatment and difficulty in arranging osteoporosis medicines. For instance, according to an article published by the Springer Nature, a global publisher, in February 2021, 43% of clinicians reported difficulty in arranging appropriate osteoporosis medications globally during the COVID-19 crisis.
Moreover, a survey of 17 questions concerning the continuation of bone mineral density measurements by Dual Energy X-rayabsorptiometry (DXA), outpatient clinic visits, and prescription of medication was sent to physicians, nurses, nurse practitioners, and physician assistants working in the field of osteoporosis in the Netherlands between May 11 and May 26, 2020. According to the results of the survey, 77 respondents finished the questionnaire, of whom 39 (50.6%) reported a decline in DXA-scanning and 36 (46.8%) reported no scanning at all during the pandemic. There was an increase in remote consultations for both new and control patient visits (n=48, 62.3%; n= 62, 81.7% respectively). Lower quality of care regarding fracture prevention was reported by more than half of the respondents (n= 44, 57.1%). Treatment with intravenous bisphosphonates and denosumab was delayed according to 35 (45.4%) and 6 (6.3%) of the respondents, respectively.
Thus, the COVID-19 pandemic had a significant impact on the osteoporosis treatment market.
Global Osteoporosis Treatment Market: Key Developments
In June 2022, Labatec Pharma SA, a privately owned Switzerland-based pharmaceutical company, signed a new licensing agreement with Radius Health, Inc., a global biopharmaceutical company, for the rights to commercialize TYMLOS (abaloparatide), a subcutaneous injection for the treatment of postmenopausal women with osteoporosis at high risk of fracture.
In December 2020, Chugai Pharmaceutical Co., Ltd., a drug manufacturer operating in Japan, announced that its wholly owned subsidiary Chugai Pharma Science (Beijing) Co., Ltd., had obtained regulatory approval for eldecalcitol (product name: Edirol), an active vitamin D3 derivative used for the treatment of osteoporosis, from the China National Medical Products Administration (NMPA).
Browse 32 Market Data Tables and 30 Figures spread through 165 Pages and in-depth TOC on “Global Osteoporosis Treatment Market”- Forecast to 2030, Global Osteoporosis Treatment Market, by Drug Type (Bisphosphonates (Alendronate, Risedronate, Ibandronate, Zoledronic Acid, and Others), Calcitonin, Hormone Therapy, Selective Estrogen Receptor Modulators (SERMs), Parathyroid Hormone-Related Protein (PTHrP) Analog, and Rank Ligand (RANKL) Inhibitor), by Route of Administration (Oral, Injectable, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Osteoporosis Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/osteoporosis-treatment-market-1096
Moreover, increasing prevalence of osteoporosis is expected to drive market growth over the forecast period. For instance, according to an article published by WebMD LLC., in July 2021, about 2 million men over age 65 have osteoporosis worldwide
Key Takeaways of the Global Osteoporosis Treatment Market:
- Global osteoporosis treatment market is expected to exhibit a CAGR of 3.8% during the forecast period due to increasing adoption of strategies such as agreements amongst key players in market for supply of osteoporosis drugs. For instance, in June 2021, Theramex U.K. Ltd, a global specialty pharmaceutical company, announced that it had entered into a license and supply agreement with Enzene Biosciences, a technology driven company based in Pune, India, to register and commercialize denosumab in Europe, the U.K., Switzerland, and Australia. Denosumab is a biosimilar of the reference medicine Prolia, and an antiresorptive treatment for osteoporosis. As a part of this agreement, Enzene Biosciences will exclusively supply the finished product to Theramex U.K. Ltd for the duration of the agreement.
- Among route of administration, the Injectable segment is expected to dominate the osteoporosis treatment market over the forecast period due to increasing research and development activities for injectable osteoporosis drugs. For instance, in October 2021, Radius Health, Inc., a bipharma company, announced positive topline results from the Phase 3 study evaluating abaloparatide 80mcg subcutaneous (SC) for use in males with osteoporosis.
- On the basis of region, North America is estimated to account for the largest market share in the global osteoporosis treatment market over the forecast period, owing to increasing product approvals from regulatory bodies to key players in For instance, in April 2019, Amgen Inc., a biopharmaceutical company, received the U.S. Food and Drug Administration approval for its osteoporosis treatment injection, Evenity, for postmenopausal women at high risk for fracture
- Major players operating in the global osteoporosis treatment market include Teva Pharmaceutical Industries Ltd., DAIICHI SANKYO COMPANY, LIMITED, Amgen Inc., Dr. Reddy’s 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.
