Global osteoporosis drugs market size will grow by USD 1.85 billion during 2019-2023, at a CAGR of almost 5%. The demand for transdermal delivery system is increasing as it shows prolonged action by enhancing the bioavailability of drugs to the targeted site. It not only reduces the adverse effects of drugs but also effectively treats osteoporosis. The adoption of transdermal delivery system as a new route of administration has improved drug compliance. Novel teriparatide transdermal microneedle delivery system is one such transdermal delivery system and administered as a daily subcutaneous injection.
New drug approvals and favorable pipeline
Osteoporosis increases the risk of fracture particularly in spines and wrists due to low bone mass and tissue loss. The growing prevalence of osteoporosis is resulting in an increased demand for anabolic agents that can increase bone mass and improve its quality by promoting new bone formation. Antiresorptive and anabolic medications are considered as more effective and targeted approaches in osteoporosis treatment. The development and testing of such drugs will lead to favorable drug pipeline for osteoporosis.
The concentration of vendors that develop osteoporosis drugs market is high in the US.They are forming strategic alliances to develop better drugs for the treatment of osteoporosis. They are collaborating with institutes under a license agreement to research and market antibody products that target the protein sclerostin. Major markets including France, Canada, Germany, Japan, the UK, and the US are providing reimbursement schemes, which will boost the demand and adoption of osteoporosis therapeutics.