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Corticosteroids Global Market Report 2023
Major players in the corticosteroids therapy market are Sumitomo, Pfizer, Novartis, Merck, Sanofi, Johnson and Johnson, GSK, AstraZeneca, Cipla, LEO Pharma, Abbott Laboratories, Bayer and Zizhu Pharma.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Corticosteroids Global Market Report 2023" - https://www.reportlinker.com/p06241820/?utm_source=GNW
The global corticosteroids market is expected to grow from $4.85 billion in 2021 to $5.05 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The corticosteroid market is expected to reach $5.93 billion in 2026 at a CAGR of 4.1%.
The corticosteroids therapy market consists of sales of glucocorticoids, mineralocorticoids, cortisone, hydrocortisone, and prednisone.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Corticosteroids therapy refers to a treatment that is given in a variety of ways to stifle the immune system and reduce inflammation.Asthma is one of the disorders they are used to treat allergy symptoms like hay fever, and urticaria (hives).
Corticosteroids, sometimes known as steroids, are a kind of anti-inflammatory medication.
North America was the largest region in the corticosteroids therapy market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the corticosteroids therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of corticosteroids therapy are glucocorticoids and mineralocorticoids.Glucocorticoids are a type of corticosteroid hormone that is very effective at suppressing the immune system and reducing inflammation.
The therapy is used for the treatment of skin allergies; rhuematology indications; endocrinology; acute respiratory diseases by hospitals; clinics; research institutes; and others.
The SARS-CoV outbreak research studies show that corticosteroids as adjunctive therapy may be beneficial to treating corona viruses if utilized in the early acute phase of infection.The use of corticosteroids during the treatment of coronaviruses has shown positive outcomes due to their ability to modulate the inflammatory response.
Therefore, the corticosteroids market has experienced a surge in its growth.
The increasing prevalence of Skin related diseases and the rising incidences of rashes, dermatitis, itching, eczema, and psoriasis contributed to the growth of the corticosteroid market. According to the CDC (Center for Disease Control), each year in the US, at least 2 million people are infected with bacteria that are resistant to antibiotics, and at least 23,000 people die due to such infections.For instance, in November 2021, according to an article shared by Cleveland Clinic, a US-based non-profit academic medical center, Skin cancer strikes almost one in five persons at some point in their lives. Every day, 9,500 Americans receive a skin cancer diagnosis. Skin cancer affects 20% of Americans at some point in their lives. The increased prevalence of such disorders increased the demand for corticosteroids, driving the market.
Side effects associated with the long-term use of corticosteroids are negatively affecting the corticosteroids market.More recently, in a meta-analysis that included 28 studies (2,382 patients), the overall risk of adverse events was 150 per 100 patient years.
Psychological and behavioral adverse events (e.g., minor mood disturbances) were reported most frequently, followed by gastrointestinal events (e.g., dyspepsia and dysphagia). Infectious complications included bacterial infections; reactivation of tuberculosis or toxoplasmosis; and viral infections, including herpes virus, varicella-zoster virus, and reactivation of viral hepatitis. The association between corticosteroid therapy and subsequent infections was calculated by pooling data from 71 controlled clinical trials. The overall rate of infectious complications was 12.7% in the 2,111 patients randomly allocated to systemic corticosteroids and 8.0% in the 2,087 controls. The risk of infection was particularly high in patients with neurologic diseases and less pronounced in patients with intestinal, hepatic, and renal diseases. The rate was not increased in patients given a daily dose of <10 mg or a cumulative dose of <700 mg of prednisone. With increasing doses, the rate of occurrence of infectious complications increased in patients given corticosteroids as well as in patients given a placebo, a finding suggesting that not only the corticosteroid but also the underlying disease state account for the steroid-associated infectious complications observed in clinical practice. Adverse and unwanted effects due to the use of corticosteroids hurt the corticosteroid market.
The development of silicones for topical and transdermal drug delivery is one of the key trends in the corticosteroid therapy market.Silicone gel sheets are soft wound covers composed of cross-linked polymers reinforced with or bonded to mesh or fabric.
A new strategy to deliver drugs to the inner ear from dexamethasone (DXM)-loaded silicone implants and to evaluate the distribution of the drug in the cochlea with confocal microscopy and the development of a new device for local corticosteroids delivery into the oval window with an extended drug release of DXM to the inner ear is also seen in recent years.Silicone gel sheeting is also an excellent treatment option for pediatric patients who may not be able to tolerate intralesional corticosteroid injection.
Silicone-based pressure-sensitive adhesives for transdermal drug delivery have shown higher diffusivity and greater skin permeation rate. Silicones offer several advantages such as improved drug permeability, and high diffusivity and offer efficient function and performance to modern drug products.
Sanofi is in talks to buy Flexion Therapeutics.Flexion’s knee injection for osteoarthritis, Zilretta (sustained release corticosteroid), would fit right in with Sanofi’s biosurgery division, which markets its osteoarthritis injectable, Synvisc.
Zilretta is a sustained-release corticosteroid first up for approval for use in the knee. Analysts have suggested it could bring in $500 million to $600 million in peak sales and perhaps hit blockbuster status if it wins indications for use in other joints.
The countries covered in the corticosteroids therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The corticosteroids therapy market research report is one of a series of new reports that provides corticosteroids therapy market statistics, including corticosteroids therapy industry global market size, regional shares, competitors with a corticosteroids therapy market share, detailed corticosteroids therapy market segments, market trends and opportunities, and any further data you may need to thrive in the corticosteroids therapy industry. This corticosteroid therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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