Osteoporosis has long been described in pregnant women who developed vertebral fractures in the last trimester or shortly after delivery without underlying disorders. However, this condition appears to be relatively rare and the clinical features, associated metabolic abnormalities and a pathological mechanism have not been fully established. This paper reviews available data on osteoporosis and pregnancy and briefly discusses the relationship between pregnancy and bone mass, calcium homeostasis, systemic skeletal hormones and local factors to help explain the pathophysiology of this unique disorder.