Skeletal dysplasias are a heritable group of disorders that affect bone and cartilage development. They present in a wide variety of presentations and variable ranges of severity affecting the quality of life of these patients. They also represent a therapeutic challenge owing to poor understanding of the underlying pathological mechanisms. Currently, the treatment is mainly symptomatic, including medical, surgical, and physical therapy. Recent advances in the genetic technology have helped to identify new causative genes and better understanding of the pathological mechanisms of genetic skeletal diseases, and this opened the doors for innovative discoveries of new therapies that are disease specific. This review outlines the normal bone development process and factors involved in bone growth and demonstrates current and recent therapeutic modalities in a wide group of genetic bone diseases, including osteogenesis imperfecta, mucopolysaccharidosis, hereditary rickets, hypophosphatemia, hypophosphatasia, achondroplasia, fibrodysplasia ossificans progressiva, and osteopetrosis. Some of these therapeutic targets have been approved and others are currently under clinical trial investigations. Remarkable advances and availability of new therapeutic options would give hope to clinicians and a wide variety of patients with skeletal dysplasia for better chances of management in the future and amelioration of their skeletal disabilities.