Raloxifene Hydrochloride Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Raloxifene Hydrochloride Market 2024-2028

The global raloxifene hydrochloride market size is estimated to grow/decline by USD 637.31 million, at a CAGR of 7.93% between 2023 and 2028. 

Raloxifene HCl, a notable compound in the pharmaceutical sector, has gained recognition for its therapeutic applications, particularly in women's health. Originally designed to address postmenopausal osteoporosis, it falls under the category of Selective Estrogen Receptor Modulators (SERMs). Demonstrating estrogenic effects in certain tissues while acting as an antagonist in others, raloxifene stands out for its bone-preserving attributes without stimulating uterine tissue. Widely used for preventing and treating osteoporosis, it maintains bone density, reducing fracture risks in postmenopausal women. Notably, its effectiveness extends to lowering the risk of invasive breast cancer in this demographic. Ongoing research explores its potential applications in cardiovascular health and neuroprotection, indicating possible diversification beyond initial indications. This expanding use in the pharmaceutical industry is poised to drive the market growth during the forecast period.

Technavio has segmented the market into  End-user, Type, and Geography 

• The end-user segment is classified into pharmaceutical and chemical industry
• The type  segment is classified into tablet and capsule
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, market trends and analysis, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the Size of the Market During the Forecast Period?

To learn more about this report, Download Report Sample

Market Segmentation by End-user, Type and Geography Analysis

End-user Analysis

Pharmaceutical

The market share growth by the Pharmaceutical segment will be significant during the forecast period. The increased prevalence of osteoporosis and the availability of antiresorptive drugs to treat the condition are driving the growth of the market segment. Antiresorptive drugs like Evista have major applications for raloxifene HCl. Apart from inactive ingredients, the drug Evista consists of 60mg of raloxifene HCl.

Get a glance at the market contribution of various segments Download PDF Sample

The Pharmaceutical segment was the largest and was valued at USD 748.35 million in 2018. The emergence of new screening guidelines and increasing awareness of the disease will accelerate market growth. Several organizations conduct awareness programs to educate consumers on the importance of bone health through the life stages. The increasing awareness has facilitated the early diagnosis of the disease, which enables patients to access drugs easily. On World Osteoporosis Day in October 2021, the International Osteoporosis Foundation (IOF) launched an awareness campaign known as the 'Serve up Bone Strength.' The campaign aims to educate people about bone health and common musculoskeletal conditions such as osteoporosis. Therefore, such initiatives will increase the demand for antiresorptive drugs, which will further fuel the growth of the pharmaceutical segment of the market growth during the forecast period.

Type Analysis 

Tablet

Raloxifene HCl is administered in tablet form and is commonly prescribed for the treatment of osteoporosis and the reduction of the risk of invasive breast cancer in postmenopausal women. The tablets are formulated to deliver a specific dosage of the active ingredient, providing patients with a convenient and effective means of managing these medical conditions. The standard tablet dosage for raloxifene HCl is typically 60 mg once daily. This dosage is commonly recommended for both osteoporosis treatment and the reduction of breast cancer risk. The pharmaceutical industry's focus on developing innovative formulations and the rising prevalence of conditions like osteoporosis, for which raloxifene HCl is commonly prescribed, further contributes to the market growth analysis. As tablet formulations continue to gain preference, the tablet segment of the market is expected to witness sustained growth during the forecast period.

Capsule

Raloxifene HCl is a medication primarily used to treat osteoporosis and reduce the risk of invasive breast cancer in postmenopausal women. The recommended dosage of raloxifene HCl typically comes in the form of capsules, with each capsule containing a specific amount of the active ingredient. The market is experiencing significant growth, fueled by the increasing utilization of the compound in capsule dosage forms. The rising prevalence of conditions such as osteoporosis, for which raloxifene HCl is a commonly prescribed treatment, further amplifies the demand for this dosage form. As the trend toward capsule formulations gains momentum, the market is positioned for continued expansion. This shift in dosage form preference reflects a broader dynamic in the pharmaceutical landscape, emphasizing the importance of patient-centric approaches and streamlined drug delivery methods. These factors will drive the market's capsule segment growth during the forecast period.

Regional Analysis

For more insights about the market share of various regions Download PDF Sample now!

North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The growing incidence and prevalence of osteoporosis and the strong presence of major pharmaceutical vendors, including Amgen Inc., Eli Lilly and Company, and Pfizer Inc., are propelling the growth of the market in North America. The availability of reimbursement schemes and the coverage of drugs by health insurance plans will contribute to the market growth in the region. The high sales of raloxifene HCl drugs in the region can be attributed to the increased patient access to reimbursement schemes and coverage of drugs by Medicare Part D health insurance. GoodRx Holdings, Inc. provides 100% coverage on Evista drugs.

Furthermore, under the Lilly Cares program, patients with Medicare Part D or without medical insurance are eligible for group 1 medications if they have a gross annual income of around 300% of the Federal Poverty Level (FPL) or less. Therefore, the availability of reimbursement schemes and the coverage of raloxifene HCl drugs by health insurance plans will increase patients' access to drugs, which will positively impact the regional market growth during market growth.

Buy Full Report Now

Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Amneal Pharmaceuticals Inc. - The company offers raloxifene hydrochloride namely Raloxifene Amneal which is used to prevent and treat osteoporosis in women after menopause.

• Amneal Pharmaceuticals Inc.
• Blanver
• Cadila Pharmaceuticals Ltd.
• Cipla Ltd.
• Dr Reddys Laboratories Ltd.
• Eli Lilly and Co.
• Enzo Biochem Inc.
• Glenmark Pharmaceuticals Ltd.
• Merck KGaA
• Midas Pharma GmbH
• Santa Cruz Biotechnology Inc.
• Taj Pharmaceutical Ltd.
• Teva Pharmaceutical Industries Ltd.
• Thermo Fisher Scientific Inc.
• Tokyo Chemical Industry Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The increasing prevalence of osteoporosis driving market demand is notably driving the market growth. Osteoporosis prevalence has increased worldwide, due to which it is considered a serious public health concern. Osteoporosis is more common in older women than in older men. The improved standards of healthcare facilities and sophisticated treatment options have increased life expectancy rates, augmenting the ageing population. Globally, 200 million women are affected by osteoporosis. Hip fractures are more common in older people who have lost their skeletal strength due to osteoporosis. In the US and Europe, approximately 30% of all postmenopausal women suffer from osteoporosis. 

In addition, the US Preventive Service Task Force recommends that women aged 65 years and above be screened for osteoporosis. Such recommendations will increase the diagnosis in the US. In 2022, the number of patients in Japan with osteoporosis was more than 15 million. Therefore, a rise in osteoporosis will increase the demand for therapeutic drugs, like Evista, containing raloxifene HCl. This will further drive the growth of the market during the forecast period.

Significant Market Trends

Reimbursement programs and coverage of drugs by health insurance is an emerging trend shaping the market growth. The availability of reimbursement programs for patients with osteoporosis will drive the market growth of raloxifene HCl during the forecast period. Osteoporosis is most prevalent among the geriatric population. Therefore, major markets such as the US, Canada, Japan, and developed European countries, such as Germany, the UK, France, and Spain, are providing reimbursement schemes. For instance, GoodRx Holdings, Inc. provides 100% coverage on Evista drugs containing raloxifene HCl. Also, under the Lilly Cares program, patients with Medicare Part D or without medical insurance are eligible for group 1 medications if they have a gross annual income of around 300% of the FPL or less.

Moreover, this group 1 medication includes various therapeutics, including the Evista drug. In addition, SilverScript Insurance Company (a CVS Caremark company) offers medical coverage for Evista drugs. Therefore, the availability of reimbursement schemes and the coverage of drugs by health insurance plans will increase patients' access to drugs, such as raloxifene hydrochloride, which will positively impact the growth of the global market during the market forecast period.

Major Market Challenges

Side effects of osteoporosis drugs are a significant challenge hindering the market growth. The pharmaceutical industry has various osteoporosis drugs that are approved for the treatment of osteoporosis. The condition is mainly treated by bisphosphonates, SERMs, and parathyroid hormones. SERMs such as Evista and bazedoxifene are used to treat osteoporosis. Common side effects of Evista may include hot flashes, increased sweating, headache, and dizziness.

However, some serious and life-threatening side effects may include an increased risk of blood clots in the legs and lungs. Women who have a history of heart attack have an increased risk of dying from stroke with the administration of Evista. Such side effects pose a challenge to the market growth even with the newly approved drugs, which may negatively impact the market growth and forecasting of the market during the forecast period.

Buy Now Full Report

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.

Market Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends and growth opportunities from 2018 to 2028. 

• End-user Outlook
  • Pharmaceutical
  • Chemical industry

• Type Outlook
  • Tablet
  • Capsule

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina 
    • Australia 

Raloxifene Hydrochloride Market Scope
Report Coverage	Details
Page number	161
Base year	2023
Historic period	2018-2022
Market forecasting period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.93%
Market Growth 2024-2028	USD 637.31 million
Market structure	Fragmented
YoY growth 2023-2024(%)	7.12
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 44%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Amneal Pharmaceuticals Inc., Blanver, Cadila Pharmaceuticals Ltd., Cipla Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Enzo Biochem Inc., Glenmark Pharmaceuticals Ltd., Merck KGaA, Midas Pharma GmbH, Santa Cruz Biotechnology Inc., Taj Pharmaceutical Ltd., Teva Pharmaceutical Industries Ltd., Thermo Fisher Scientific Inc., and Tokyo Chemical Industry Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Download Sample PDF at your Fingertips

What are the Key Data Covered in this Raloxifene Hydrochloride Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of the market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch