Report Overview

The South Korea osteoporosis therapeutics market size stood at around USD 12.8 million in 2020 and is projected to reach xx million by 2028, exhibiting a CAGR of xx% during the forecast period.

Osteoporosis is characterized by low density and quality of bones. In this medical condition the bones become porous, which makes them more fragile and prone to factures. The condition is caused by over production of the hormone called as parathyroid. The condition can lead to severe fractures, which can have deleterious effects on the health of patient. Therefore, the condition requires treatment, which includes the use of osteoporosis drugs.

Such age-related chronic diseases are an emerging issue due to increased social costs and loss of labour. Osteoporosis is one of the most common chronic diseases in the elderly population. According to a fact sheet published by the International Osteoporosis Foundation, 200 million women have osteoporosis worldwide and 8.9 million osteoporotic fractures occur annually, and one in three women and one in five men aged over 50 could experience fragility fractures in their lifetime.

Market Drivers

Rise is geriatric population is major driver for this market. South Korea is a country with a rapidly growing population, aged 65 years or over. In 2000, the elderly population accounted for 7.3% of the population and thereafter, Korea became an aging society. In 2017, the elderly accounted for 14.2% of the population. This figure is expected to reach 20.3% in 2025 and Korea will be considered a super-aged society. Prevalence rate of osteoporosis has increased over the years which is another major factor for increase in market size.