Number of pages: 100 | Report Format: PDF | Published date: May 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 2.20 billion |
Revenue Forecast in 2031 |
US$ 3.02 billion |
CAGR |
3.58% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Application, Route of Administration, Distribution Channel, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global bisphosphonates market was valued at US$ 2.20 billion in 2022 and is expected to register a revenue CAGR of 3.58% to reach US$ 3.02 billion by 2031.
Bisphosphonates Market Fundamentals
Bisphosphonates are a class of medications commonly used to treat bone-related conditions. They are synthetic compounds structurally like pyrophosphate, a natural component found in the body. Bisphosphonates work by inhibiting the activity of osteoclasts, which are cells responsible for breaking down and resorbing bone tissue. By suppressing osteoclast function, bisphosphonates help to reduce bone loss and increase bone density. These medications primarily treat osteoporosis, a condition characterized by low bone density and an increased risk of fractures. Bisphosphonates can slow down or even reverse the bone loss associated with osteoporosis, reducing the risk of fractures and improving bone strength.
Bisphosphonates Market Dynamics
Osteoporosis is a common age-related condition characterized by reduced bone density and increased risk of fractures; bisphosphonates are one of the primary treatment options for osteoporosis. As the global population ages, the prevalence of osteoporosis is expected to rise and is anticipated to boost the growth of the global bisphosphonates market. For instance, according to the International Osteoporosis Foundation, one in every three women and one in every five men over fifty may break a bone due to osteoporosis. Moreover, a growing emphasis is on maintaining bone health and preventing bone-related disorders. Increased awareness among individuals, healthcare providers, and governments about the importance of bone health has led to higher diagnosis rates and treatment initiation for conditions like osteoporosis, thereby driving the demand for the bisphosphonates market.
Furthermore, developing new and improved bisphosphonate formulations and drug delivery systems has enhanced efficacy, convenience, and patient compliance. Advancements such as extended-release formulations and intravenous bisphosphonates with longer dosing intervals have improved treatment options, increasing adoption and market growth. Ongoing research and development efforts in bone health and osteoporosis treatment contribute to introducing novel bisphosphonate formulations or combination therapies. These advancements stimulate market growth by expanding treatment options and addressing unmet medical needs.
However, although bisphosphonates are generally well-tolerated, they can have potential side effects, especially with long-term use. Common side effects include gastrointestinal symptoms, musculoskeletal pain, and flu-like symptoms. Rare but severe side effects like osteonecrosis of the jaw and atypical femur fractures have been reported. These safety concerns may impact patient compliance and limit the long-term use of bisphosphonates. While bisphosphonates are widely used, alternative treatment options are available for managing bone-related conditions. Other medications, such as selective estrogen receptor modulators (SERMs), parathyroid hormone analogs, and monoclonal antibodies targeting specific pathways, are available for osteoporosis. The availability of alternative treatments may impact the market demand for bisphosphonates. Additionally, alternative treatment options, side effects, and safety concerns impede the overall bisphosphonates market growth.
Bisphosphonates Market Ecosystem
The global bisphosphonates market is analyzed from four perspectives: application, route of administration, distribution channel, and region.
Bisphosphonates Market by Application
Based on the application, the global bisphosphonates market is segmented into cancer, osteoarthritis, osteoporosis, hypercalcemia, and others.
The osteoporosis segment dominated the market with the top revenue share in 2022, owing to the rising prevalence of osteoporosis. Bisphosphonates are widely used in managing osteoporosis, a condition characterized by low bone density and increased risk of fractures. Osteoporosis is a prevalent condition, particularly among the elderly population, and the market for bisphosphonates in this segment has been growing steadily. There are several bisphosphonates available for the treatment of osteoporosis. Commonly prescribed bisphosphonates for osteoporosis include alendronate, risedronate, ibandronate, and zoledronic acid. These medications can be administered orally or intravenously, with different dosing schedules depending on the specific drug. These aspects contribute to the growth of the osteoporosis segment.
The cancer segment also accounted for a prominent market revenue share, attributed to the rising prevalence of cancer globally. For instance, according to the WHO’s factsheet of February 2022, cancer is one of the leading causes of death globally, which killed nearly 10 million individuals in 2020. Breast, lung, colon, and prostate are the most common ones. Bisphosphonates are commonly used in managing and treating bone metastases, a condition where cancer has spread to the bones. They are used to reduce pain, prevent skeletal-related events (SREs), such as fractures and spinal cord compression, and improve the quality of life in cancer patients with bone involvement. Bisphosphonates work by inhibiting osteoclast activity, reducing bone resorption and the associated complications. These aspects contribute to the growth of the cancer segment.
Bisphosphonates Market by Route of Administration
Based on the application, the global bisphosphonates market is segmented into oral and parenteral.
The parenteral segment accounted for a prominent share of the market. Parenteral bisphosphonates refer to the intravenous administration of these medications. Parenteral bisphosphonates are commonly used to treat osteoporosis, bone metastases, and hypercalcemia. Parenteral bisphosphonates are primarily used when immediate or rapid therapeutic effects are desired or when oral administration is not feasible or preferred. These medications are administered intravenously, allowing for direct delivery into the bloodstream. Parenteral bisphosphonates are often used in acute settings, such as hypercalcemia emergencies, or when initiating treatment for severe osteoporosis or bone metastases. These factors contribute to the growth of the parenteral segment.
Bisphosphonates Market by Distribution Channel
Based on the distribution channel, the global bisphosphonates market is segmented into hospital, retail, and online pharmacies.
The hospital pharmacies segment is a key player in the bisphosphonates market, with the largest revenue share in 2022. Hospital pharmacies are vital in distributing, managing, and dispensing medications, including bisphosphonates, within the hospital setting. Hospitals are key healthcare institutions where patients receive medical care, including administering bisphosphonates. Hospital pharmacies ensure the availability, safe storage, and proper dispensing of bisphosphonate medications to patients within the hospital setting. Hospital pharmacies are critical in monitoring and reporting adverse events associated with bisphosphonate therapy. They have systems to detect and report any potential medication-related issues, including adverse drug reactions or medication errors. These overall factors contribute to the growth of the hospital pharmacies segment.
The online pharmacies segment is expected to be the fastest-growing segment throughout the forecast period, owing to the ease with which the required medications may be obtained at home. Online pharmacies, also known as e-pharmacies or internet pharmacies, provide a platform for patients to purchase medications, including bisphosphonates, through online channels. With the increasing popularity of online shopping and its convenience, more patients are turning to online pharmacies to purchase their medications, including bisphosphonates. These platforms often provide detailed product information, including dosage, indications, and potential side effects, allowing patients to make informed decisions about their purchase. Patients can place orders from the comfort of their homes, eliminating the physical need to visit a pharmacy store. This is particularly beneficial for individuals with limited mobility or those residing in remote areas without easy access to traditional pharmacies. These overall factors contribute to the growth of the online pharmacies segment.
Bisphosphonates Market by Region
Geographically, the global bisphosphonates market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global bisphosphonates market with the largest revenue share in 2022 and is expected to have a CAGR of 3.3% during the forecast period, attributed to the presence of key market players, the rising prevalence of bone-related disorders, the availability of advanced treatment options, and the fast adoption of technology. For instance, according to the National Osteoporosis Foundation factsheet, 10 million Americans have osteoporosis, and 44 million have low bone density problems. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which are also expected to improve the bisphosphonates market outlook.
Bisphosphonates Market Competitive Landscape
The prominent players operating in the global bisphosphonates market are:
Bisphosphonates Market Strategic Developments
Bisphosphonates are a class of medications commonly used to treat bone-related conditions.
Alternative treatment options, side effects, and safety concerns are some of the factors restricting the global market growth to its full potential.
The osteoporosis segment accounts for the largest share of the global market.
The revenue CAGR of the bisphosphonates market during the forecast period will be 3.58% from 2023 to 2031.
Some prominent players operating in the global bisphosphonates market are Mylan N.V.Apotex Inc., F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Emcure Pharma, and Natco Pharma.
*Insights on financial performance are subject to the availability of information in the public domain