The osteoporosis drugs market has grown steadily from $12 billion in 2023 to $12.48 billion in 2024, with a CAGR of 4.0%. This growth is due to an aging population, increased awareness, and improved diagnosis. The market is expected to reach $14.2 billion by 2028, with a slightly reduced CAGR of 3.3%. Key trends include personalized medicine, combination therapies, and increased research in novel drug targets, focusing on fracture prevention and patient education.
Major Driver In The Osteoporosis Drugs Market
The osteoporosis drug market is poised for expansion fueled by a surge in osteoporosis prevalence, a bone disease characterized by declining bone mineral density and structure. Individuals with low calcium intake face an elevated risk of developing osteoporosis, which increases susceptibility to fractures. Statistics from Amgen reveal alarming figures, with osteoporosis contributing to 1.5 million fractures annually in the United States alone, incurring significant associated costs. Forecasts project a 68% increase in fracture numbers by 2040, highlighting the urgent need for osteoporosis drugs to mitigate risks and prevent fractures. The escalating prevalence of osteoporosis propels growth within the osteoporosis drug market, reflecting promising prospects for industry stakeholders.
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Osteoporosis Drugs Market Competitive Landscape
Pfizer Inc., F. Hoffmann La Roche Ltd., Merck & Co Inc., Novartis AG, Bristol Myers Squibb Company, GlaxoSmithKline PLC, Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, Asahi Kasei Pharma Corporation, Viatris Inc., Teva Pharmaceutical Industries Ltd, Mylan N.V., Daiichi Sankyo Company Limited, Union Chimique Belge, Sun Pharmaceutical Industries Ltd., Ipsen, Kyowa Kirin Co Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Recordati S.p.A., Cadila Healthcare Ltd., Lupin Limited, Enzene Biosciences Ltd, Torrent Pharmaceuticals Ltd., Sunovion Pharmaceuticals Inc., Ligand Pharmaceuticals Incorporated, Theramex, Radius Health Inc., Actavis PLC, Strides Pharma Science Limited, Apotex Inc.
Key Osteoporosis Drugs Market Trend
Major companies operating in the osteoporosis drugs market are advancing toward the use of innovative solutions for the osteoporosis drug market. For instance, in November 2023, Apotex Inc., a Canada-based pharmaceutical corporation, launched Teriparatide Injectable for Osteoporosis Treatment. Injection of teriparatide is a pre-filled pen containing 250 mcg/mL, capable of administering 28 daily doses of 20 mcg per pen, intended for single-patient use. This product will give these patients much-needed, reasonably priced access.
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Osteoporosis Drugs Market Segmentation
The osteoporosis drugs market covered in this report is segmented –
1) By Type: Bisphosphonates, Selective Estrogen Receptor Modulators (SERMs), RANK Ligand Inhibitors
2) By Administration: Oral, Injectable
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Sales
4) By Application: Primary Osteoporosis, Secondary Osteoporosis
By Geography:The regions covered in the osteoporosis drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the osteoporosis market in 2023.
The Osteoporosis Drugs Global Market Report 2024 furnishes information about the global osteoporosis drugs market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
