This comprehensive report provides a detailed analysis of the global osteoporosis drugs market, including insights into its drivers, restraints, opportunities, trends, and forecasts up to 2025. The report segments the market based on drug class (Bisphosphonates, Parathyroid Hormone Therapy, Selective Estrogen Receptor Modulator, RANK Ligand Inhibitors, Biosimilars, and Others) and regions (North America, Europe, Asia Pacific, and Rest of the World).
Market Overview
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The global osteoporosis drugs market is projected to grow at a CAGR of 4.3% during the forecast period. Osteoporosis is characterized by low bone mass and structural deterioration of bone tissue, leading to increased bone fragility and the risk of fractures, particularly in the spine, hip, and wrist. This disease primarily affects the elderly, especially women who have undergone menopause.
Factors driving market growth include the rising prevalence of osteoporosis in postmenopausal women, a growing aging population, and increased public awareness of osteoporosis care. However, patent expirations and drug-related side effects, such as nausea, difficulty swallowing, heartburn, and gastric ulcers, could hinder market growth. Nevertheless, increased investment in research and development for drug discovery and development, along with rising healthcare expenditure, is expected to boost the osteoporosis drugs market in the coming years.
Market Insights
The International Osteoporosis Foundation estimates that over 200 million individuals worldwide suffer from osteoporosis. Notably, around 30% of all postmenopausal women in the US and Europe have osteoporosis. According to the National Institute of Health, about 53 million people in the US are either living with osteoporosis or are at increased risk due to low bone mass. The substantial patient base ensures continuous market growth during the forecast period from 2019 to 2025.
Key players in the market, including Amgen, Inc., Eli Lilly & Company Ltd., Novartis AG, Pfizer Inc., Radius Health, Inc., and Merck & Co., contribute significantly to industry revenue.
Geographic Analysis
- North America: Dominated the market in 2018 with a share of over 40% and is expected to maintain its position throughout the forecast period. Established medical infrastructure, a growing patient base for osteoporosis, and the presence of renowned players in the commercialization of branded therapeutics make North America a dominant shareholder.
- Europe: Accounted for over 20% of the global market in 2018.
- Asia Pacific: Projected to grow at a high CAGR during the forecast period.
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Segmentation by Drug Class
- Bisphosphonates: Accounted for the largest share in 2018 and is expected to grow at a low-single-digit CAGR by 2025.
- Biosimilars: Expected to exhibit high growth during the forecast period, with the patent expiration of leading osteoporosis drugs opening the door for biosimilars.
Competitive Landscape
The market is steadily growing at a CAGR of 4.3%. New drug approvals, collaborations, and the development of osteoporosis drugs due to increased global incidence are driving this growth. Notable developments include:
- Evenity Approval: FDA approved Evenity (romosozumab) for postmenopausal osteoporosis treatment in April 2019 for those who have failed or are intolerant to other osteoporosis therapies.
- Bazestar Launch: South Korean-based Yuyu Pharmaceutical launched Bazestar for osteoporosis treatment in late 2018. This selective estrogen receptor modulator is used to treat and prevent osteoporosis in postmenopausal women.
- R&D Investments: Leading vendors are heavily investing in R&D to develop new drugs. For instance, Sandoz initiated a clinical study for its proposed biosimilar denosumab for osteoporosis in July 2019. AryoGen Pharmed in Iran is conducting phase III trials for a biosimilar Prolia.
Conclusion
This report aims to define, analyze, and forecast the global osteoporosis drugs market, with a focus on segments such as drug class and region. It provides key stakeholders with insights into market trends, drivers, investments, and government initiatives in the medical devices segment. Moreover, the report highlights major challenges impacting market growth and identifies key business opportunities for stakeholders aiming to expand their presence in this market.
Report Contents
- Vendor Analysis: Financial status, business units, SWOT analysis, business strategies, and viewpoints.
- Competitive Landscape: M&A, joint ventures, collaborations, and competitor comparison analysis.
- Vendor Profiles: For privately held companies, financial information and segment revenue details may be limited.
Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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