Corticosteroids Market Share, Size, Trends, Industry Analysis Report, By Type (Mineralocorticoids, Glucocorticoids); By Route of Administration; By Application; By Region; Segment Forecast, 2024- 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM4413
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
- Corticosteroids Market size was valued at USD 5.70 billion in 2023.
- The market is anticipated to grow from USD 5.96 billion in 2024 to USD 8.53 billion by 2032, exhibiting the CAGR of 4.6% during the forecast period.
Market Introduction
Rising global healthcare expenditure is fueling significant growth in the corticosteroids market share. Increased budgets enable broader access to corticosteroid treatments for managing diverse inflammatory and autoimmune disorders. Technological advancements, heightened patient awareness, and the growing burden of chronic diseases drive this financial commitment. Corticosteroids, known for their versatile applications, play pivotal roles in treatment regimens. Ongoing investments in healthcare infrastructure and research contribute to market expansion, ensuring improved patient access to corticosteroid therapies and driving comprehensive approaches to address various medical conditions.
In addition, companies operating in the market are concentrating on developing new solutions to cater to the growing market demand.
- For instance, in April 2022, Eli Lilly disclosed positive results, stating that the combination of Lebrikizumab and Topical Corticosteroids demonstrated substantial enhancements in disease severity for Atopic Dermatitis. In the ADhere trial, 70 percent of patients with moderate-to-severe atopic dermatitis (AD) achieved a minimum of 75 percent improvement in overall disease severity (EASI-75*) after 16 weeks of receiving Lebrikizumab along with standard-of-care topical corticosteroids (TCS).
Rising global healthcare expenditure is fueling significant growth in the corticosteroids market industry forecast. Increased budgets enable broader access to corticosteroid treatments for managing diverse inflammatory and autoimmune disorders. Technological advancements, heightened patient awareness, and the growing burden of chronic diseases drive this financial commitment. Corticosteroids, known for their versatile applications, play pivotal roles in treatment regimens. Ongoing investments in healthcare infrastructure and research contribute to market expansion, ensuring improved patient access to corticosteroid therapies and driving comprehensive approaches to address various medical conditions.
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In addition, companies operating in the market are concentrating on developing new solutions to cater to the growing market demand.
Industry Growth Drivers
- Advancements in Drug Formulations Are Projected to Spur the Product Demand
Advancements in drug formulations are propelling significant growth in the corticosteroids market size. Ongoing research is yielding innovative formulations, optimizing therapeutic effectiveness. Enhanced drug delivery systems, including advanced inhalers and topicals, address concerns related to side effects and systemic absorption, ensuring patient adherence. The development of biodegradable corticosteroids aligns with environmental sustainability, influencing market dynamics. As pharmaceutical companies introduce refined formulations, the Corticosteroids Market growth expands its offerings, providing more effective, targeted, and environmentally conscious options for managing various inflammatory and autoimmune conditions.
- Rising Aging Population Is Expected to Drive Market Growth
The market growth is thriving globally, propelled by the increasing aging population. As demographics skew towards older age groups, prevalent conditions like osteoarthritis, rheumatoid arthritis, and chronic obstructive pulmonary disease (COPD) escalate. This demographic shift significantly amplifies the demand for corticosteroids, which are crucial in managing inflammatory and degenerative disorders in the elderly. With a growing need for effective solutions in musculoskeletal and respiratory care, corticosteroids play a pivotal role, driving heightened usage and contributing to the market's expansion.
Industry Challenges
- Adverse Reactions and Side Effects Are Likely to Impede the Market Growth
Adverse reactions and side effects pose substantial constraints in the market. Despite their therapeutic efficacy, prolonged or high-dose usage leads to issues such as weight gain, osteoporosis, mood changes, and heightened infection susceptibility. These concerns impact patient adherence and prompt healthcare providers to explore alternative treatments. Balancing the risk-benefit profile is crucial, especially in chronic conditions, to optimize corticosteroid use in managing inflammatory and autoimmune disorders while minimizing associated drawbacks.
Report Segmentation
The corticosteroids market analysis is primarily segmented based on type, route of administration, application, and region.
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By Type |
By Route of Administration |
By Application |
By Region |
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By Type Analysis
- Glucocorticoids Segment Accounted For Significant Market Share in 2023
The glucocorticoids segment accounted for a significant market share in 2023. Glucocorticoids exert potent anti-inflammatory effects crucial for managing conditions like rheumatoid arthritis and inflammatory bowel diseases. Their immunosuppressive properties are vital for treating autoimmune disorders, including lupus. Swift relief in acute situations, such as severe allergic reactions or asthma exacerbations, characterizes their rapid onset of action. Versatile in therapeutic applications, glucocorticoids address a spectrum of medical conditions, from dermatological to respiratory issues. Effectively reducing tissue swelling, they contribute to symptom improvement, particularly in chronic diseases like rheumatoid arthritis, ensuring long-term disease control. Ongoing research focuses on refining formulations for improved therapeutic outcomes.
By Route of Administration Analysis
- Topical Segment Accounted For Significant Market Share in 2023
The topical segment accounted for a significant market share in 2023. Topical corticosteroids provide precise, localized treatment for skin conditions, minimizing systemic absorption and ensuring safety for extended use. Rapid relief from inflammation, redness, and itching characterizes their effectiveness. Available in versatile formulations, these corticosteroids accommodate various skin types and conditions, making them suitable for chronic dermatological issues. Their user-friendly application enhances patient adherence, and healthcare professionals can tailor treatment plans for optimal outcomes, seamlessly integrating them into combination therapies for comprehensive dermatological care.
By Application Analysis
- Skin Allergies Segment Held Significant Market Revenue Share in 2023
The skin allergies segment held a significant revenue share in 2023. Corticosteroids swiftly alleviate skin allergy symptoms with potent anti-inflammatory effects. Their diverse formulations, including creams, ointments, and solutions, provide flexibility, targeting specific allergies effectively. The topical application ensures localized treatment, minimizing systemic absorption and potential side effects. Effective against various skin allergies, corticosteroids enhance quality of life by relieving discomfort and inhibiting allergic progression.
Regional Insights
- North America Region Dominated the Global Market in 2023
In 2023, the North American region dominated the global market. The North American market features diverse pharmaceutical solutions for inflammatory conditions. Established players and ongoing technological advancements drive intense competition. Key priorities include innovation, product quality, and safety standards. Strategic collaborations, regulatory adherence, and research initiatives underscore the industry's commitment to meeting diverse medical needs. With a steady growth trajectory, the market in North America is propelled by evolving healthcare trends, a rising incidence of inflammatory disorders, and continuous efforts to enhance therapeutic effectiveness.
Over the projected period, the Asia-Pacific region is likely to experience significant growth. The corticosteroids industry in Asia-Pacific is characterized by a landscape tailored to address region-specific medical conditions. The market exhibits growth fueled by rising healthcare expenditure, increasing prevalence of region-specific conditions, and government initiatives to the unique healthcare requirements in Asia-Pacific.
Key Market Players & Competitive Insights
The market is marked by a varied landscape, and the influx of numerous newcomers is expected to heighten competition. Key market players consistently enhance their technologies to maintain a competitive advantage, giving prominence to efficiency, integrity, and safety. These entities prioritize strategic actions like partnerships, product improvements, and collaborative ventures, striving to surpass their counterparts. Their goal is to secure a substantial corticosteroids market share.
Some of the major players operating in the global market include:
- AbbVie Inc.
- Astellas Pharma Inc.
- AstraZeneca plc
- Bausch Health Companies Inc.
- Bayer AG
- Cipla Limited
- Eli Lilly and Company
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline plc
- Johnson & Johnson
- Lupin Limited
- Merck & Co., Inc.
- Novartis International AG
- Pfizer Inc.
- Sanofi S.A.
Recent Developments
- In October 2023, Santhera Pharmaceuticals received FDA approval for their innovative corticosteroid, vamorolone, which will be marketed under the brand name Agamree. This approval is specifically for the treatment of Duchenne muscular dystrophy.
- In April 2022, Salvat revealed its intentions to introduce ocular corticosteroid featuring nanoemulsion, targeting inflammation and pain post-ocular surgery. The company has successfully completed phase III clinical trials for its ocular corticosteroid containing clobetasol. This innovative treatment is designed to address inflammation and pain in patients undergoing cataract surgery.
Report Coverage
The corticosteroids market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, types, routes of administration, applications and their futuristic growth opportunities.
Corticosteroids Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 5.96 billion |
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Revenue forecast in 2032 |
USD 8.53 billion |
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CAGR |
4.6% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
Explore the 2024 market share, size, and revenue growth rate statistics in the field of Corticosteroids Market, meticulously compiled by Polaris Market Research Industry Reports. This comprehensive analysis encompasses a market forecast outlook extending to 2032, along with an insightful historical overview. Experience the depth of this industry analysis by obtaining a complimentary PDF download of the sample report.
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FAQ's
key companies in Corticosteroids Market are AbbVie Inc., AstraZeneca plc, Bayer AG, Cipla Limited, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc
Corticosteroids Market exhibiting the CAGR of 4.6% during the forecast period.
The Corticosteroids Market report covering key segments are type, route of administration, application, and region.
key driving factors in Corticosteroids Market are rising aging population is expected to drive market growth
Corticosteroids Market Size Worth $8.53 Billion By 2032
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