Osteoporosis treatment market is estimated to be valued at USD 14.91 Bn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period (2024-2031). Growing geriatric population expected to drive the market growth. According to the WHO, the number of people aged 65 years and above is projected to increase from an estimated 524 million in 2010 to approximately 1.5 billion by 2050. Furthermore, rising osteoporosis incidences caused due to factors such as lifestyle changes, lack of physical activity, and poor dietary habits boosts demand for osteoporosis treatment drugs and devices.
Market Dynamics:
Global osteoporosis treatment market growth is driven by increasing geriatric population and rising osteoporosis incidences. As per estimates, provided by Frontiers, over 200 million people suffer from osteoporosis globally. This number is projected to rise further, placing an economic burden on healthcare systems. Moreover, sedentary lifestyle coupled with consumption of calcium deficient diets has significantly contributed to the growing prevalence of osteoporosis. This has also boosted the demand for bone-strength assessing scans.
Growing Geriatric Population
One of the key drivers for global osteoporosis treatment market is the rapid growth of the geriatric population worldwide. Osteoporosis is predominantly seen in the elderly people, with advanced age being one of the most significant risk factors for the disease. As life expectancy increases across both developing and developed nations, the number of people aged 65 years and above is projected to nearly double from 703 million in 2019 to 1.5 billion by 2050. This demographic shift will fuel demand for osteoporosis screening and treatment options. Elderly patients usually require long-term management of osteoporosis to prevent fractures later in life. Therefore, rising senior citizen base provides a steady patient pool and sustained market opportunities for osteoporosis drugs and devices.
Increasing Awareness about Osteoporosis
Another important driver for the market is growing awareness about osteoporosis, its risk factors, symptoms and impact on quality of life. Various non-profit organizations and government bodies conduct educational programs to spread knowledge about this silent disease. This has encouraged more people, especially post-menopausal women, to get their bone mineral density tested. Healthcare providers are also able to manage the condition better by initiating therapy at pre-fracture stages. As a result, awareness creation activities are positively impacting early diagnosis rates and market revenues.
Stringent Regulations Delay Market Entry of New Products
Global osteoporosis treatment market growth can be hampered by stringent regulatory environment governing the approval of drugs and devices. Due to safety risks, regulatory bodies like the U.S. FDA and EU EMA have implemented rigorous guidelines for clinical trials demonstrating efficacy and safety of osteoporosis interventions. Even minor changes to approved drug formulations require new regulatory filings. The long approval timelines and high costs involved in satisfying regulatory norms deter investments in research. It also delays the market entry of promising pipeline candidates. While regulations aim to ensure patient welfare, these negatively impact the launch of much-needed novel treatment approaches. This affects the dynamic growth of the overall market.
Rising Healthcare Expenditure
The Asia Pacific region presents major opportunities for osteoporosis treatment manufacturers due to rising healthcare expenditures of its developing economies. Osteoporosis prevalence is increasing in the Asia Pacific population due to lifestyle changes, lack of calcium intake and physically less active routines. Countries like China and India are dedicating higher budgets for non-communicable disease management. This allows for more sophisticated diagnostic technologies and wider insurance coverage of osteoporosis drugs. It also incentivizes companies to launch affordable generic versions to cater to the vast patient numbers in low and middle-income APAC nations. With economic growth and changing demographics, the Asia Pacific market will witness lucrative expansion opportunities over the forecast period.
Growing Use of Combination Therapies
Combination therapy using multiple drug classes is emerging as a promising market opportunity. Current research advocates the use of anti-resorptive drugs along with anabolic therapy, especially in patients with severe or high-risk osteoporosis. The approach helps gain the benefits of both mechanisms, leading to better fracture prevention. It also opens new prospects to enhance treatment efficacy with lower doses, reducing safety issues. Many pharmaceutical companies are conducting clinical trials of fixed-dose combination drugs.
Key Development
- In November 2023, Apotex Inc., a pharmaceutical company, launched Teriparatide Injection, a single-patient-use pre-filled pen used for the treatment of osteoporosis in the U.S. Teriparatide Injection is supplied as a single-patient-use pre-filled pen containing 250 mcg/mL, capable of administering 28 daily doses of 20 mcg per pen.
- In April 2022, the International Osteoporosis Foundation launched LiftOffForBoneHealth, an online public awareness campaign in cooperation with the European Space Agency (ESA)
- In August 2021, Enzene Biosciences, a India-based technology driven company, announced that it had received marketing authorization from the Drug Controller General of India (DCGI) for its third biosimilar drug 'Denosumab' that is indicated for the treatment of osteoporosis in adults
- In January 2021, Theramex, a global pharmaceutical company, launched Livogiva, a new teriparatide pre-filled pen for the treatment of severe osteoporosis in Europe
Key Players: 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., Pfizer Inc., Enzene Biosciences, Apotex Inc.