Global Corticosteroids Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
22 Oct, 2021
The corticosteroids therapy market consists of sales of synthetic corticosteroid drugs used to treat a wide variety of disorders, including asthma, arthritis, skin conditions, autoimmune diseases and lowers inflammation in the body. Corticosteroids and their biologically active synthetic derivatives differ in their metabolic (glucocorticoid) and electrolyte-regulating (mineralocorticoid) activities. These agents are employed at physiological doses for replacement therapy when endogenous production is impaired. The market consists of revenue generated by the company’s manufacturing synthetic corticosteroids by the sales of these products.
Global Corticosteroids Market Size And Drivers:
The global corticosteroids market is expected to grow from $4.47 billion in 2020 to $4.56 billion in 2021 at a compound annual growth rate (CAGR) of 2%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $5.33 billion in 2025 at a CAGR of 4%. Increasing prevalence of skin related diseases and the rising incidences of rashes, dermatitis, itching, eczema, and psoriasis contributed to the growth of the corticosteroids market.
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Trends In The Global Corticosteroids Market
The development of silicones for topical and transdermal drug delivery is one of the key trends in 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 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 has shown higher diffusivity and greater skin permeation rate. Silicones offer several advantages such as improved drug permeability, high diffusivity and offer efficient function and performance to modern drug products.
Global Corticosteroids Market Segments:
The global corticosteroids market is further segmented –
By Product: Glucocorticoids, Mineralocorticoids
By Application: Skin Allergies, Rheumatology Indications, Endocrinology, Acute Respiratory Diseases, Others
By End User: Hospitals, Clinics, Research Institutes, Others
By Geography: The global corticosteroids market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/corticosteroids-therapy-market-global-report-2020-2030-covid-19-implications-and-growthCorticosteroids Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides corticosteroids market overviews, analyzes and forecasts market size and growth for the global corticosteroids market, corticosteroids market share, corticosteroids market players, corticosteroids market segments and geographies, corticosteroids market’s leading competitors’ revenues, profiles and market shares. The corticosteroids market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.