SEATTLE, June 09, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global topical corticosteroids (steroids) market is estimated to be valued at US$ 4.12 Billion in 2022 and is expected to exhibit a CAGR of 4.36% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Topical Corticosteroids (steroids) Market:
Key trends in market include increasing cases of psoriasis, and increasing research and development activities of topical steroids
Increasing incidence of psoriasis is expected to fuel market growth of global topical corticosteroids (steroids) market over the forecast period. For instance, according to National Psoriasis Foundation, more than 8 million people living in U.S. had psoriasis. Psoriasis prevalence in African Americans is 1.5 percent compared to 3.6 percent of Caucasians. Psoriasis is likely to be under-diagnosed among African-Americans and other individuals with skin of color due to differences in clinical presentation.
Market players are involved in research and development activities related to topical corticosteroids, which is expected to drive growth of the global topical corticosteroids (steroids) market. For instance, in July 2020, AbbVie, an US based stock exchange listed biopharmaceutical company, announced that upadacitinib (15 mg and 30 mg, once daily) plus topical corticosteroids (TCS) met the co-primary endpoints and all secondary endpoints in AD Up, the third pivotal Phase 3 study of RINVOQ in atopic dermatitis. AD Up compared the efficacy and safety of both dosages of upadacitinib therapy to placebo in adults and adolescents with moderate to severe atopic dermatitis; all treatment groups, including the placebo group, received concomitant TCS.
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Key Market Takeaways:
Increasing research and development activities of topical corticosteroids, rising product launches and approvals, inorganic activities such as collaborations, agreements, acquisitions, and other factors (awareness campaigns, etc.) are expected to drive growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in July, 2021, Almirall S.A., a global biopharmaceutical company focused on skin health, and MC2 Therapeutics, a commercial-stage pharmaceutical company developing a new standard within topical therapies for autoimmune and chronic inflammatory conditions, announced the successful completion of a decentralized procedure in Europe for a topical treatment option for mild to moderate psoriasis vulgaris in adults (50 g/g calcipotriol and 0.5 mg/g betamethasone as dipropionate.
Competitive Landscape:
Key players operating in the global topical corticosteroids (steroids) market include GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA
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Market Segmentation:
- Global Topical Corticosteroids (steroids) Market , By Formulation:
- Creams
- Ointments
- Gels
- Others (solutions, foams, spray, etc.)
- Global Topical Corticosteroids (steroids) Market , By Application:
- Acne
- Dermatitis
- Psoriasis
- Eczema
- Hyperpigmentation
- Others (rash, etc.)
- Global Topical Corticosteroids (steroids) Market , By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Topical Corticosteroids (steroids) Market , By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
-
-
- Brazil
- Mexico
- Argentina
- Rest of Latin America
-
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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