New York, NY, Jan. 29, 2024 (GLOBE NEWSWIRE) -- A latest research report [115+] pages with 360-Degree visibility, titled “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 by Polaris Market Research in its research repository.
The global corticosteroids market size and share is currently valued at USD 5.70 billion in 2023. It is anticipated to generate an estimated revenue of USD 8.53 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.
Market Definition
- What are Corticosteroids? How Big is Corticosteroids Market Size?
Corticosteroids are a type of human-made or synthetic medicine utilized in almost every medical specialty. It resembles cortisol, a hormone inherently generated by our body’s adrenal glands. Cortisol is a prominent player in a broad range of biological procedures, including immune response, metabolism, and stress.
Moreover, corticosteroids have various impacts on the body, which indicates that they can treat different medical conditions. They can lessen and suppress overactive immune system responses and inflammation and assist with hormonal imbalances. Corticosteroids are quick-functioning in the body, which makes them valuable for treating sudden, unbearable symptoms. For example, they can effectively control allergic reactions. These drugs can also stop the immune system, which makes them useful for treating autoimmune diseases. As a result, the corticosteroids market size is expanding.
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Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Request.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
- Includes Updated List of table & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Market’s Key Companies
- 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.
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Key Highlights
- The growing geriatric population, rising investment in research & development, and rising incidence of chronic diseases are the main drivers driving the growth of the corticosteroid market.
- The corticosteroids market segmentation is mainly based on the route of administration, type, region, and application.
- North America dominated the market in 2023.
Market Developments
Growth Drivers:
- Advancements: The corticosteroids market growth is expanding significantly due to developments in medication formulations. Research is continuing to produce novel formulations that maximize the efficacy of treatments. Modern topicals and inhalers are examples of enhanced drug delivery systems that solve issues with systemic absorption and side effects while guaranteeing patient adherence. The creation of corticosteroids that degrade naturally is in line with environmental sustainability, which affects market dynamics.
- Increased Aging Population: The market expansion is booming due to the growing older population. Chronic obstructive pulmonary disease (COPD), rheumatoid arthritis, and osteoarthritis are among the more common illnesses as the population becomes older. The need for corticosteroids, which are essential for treating inflammatory and degenerative diseases in the elderly, is greatly increased by this change in the population. Corticosteroids are essential because of the increasing demand for efficient treatments in the fields of musculoskeletal and respiratory care. This has led to increased use and the growth of the corticosteroids market share.
Industry Trends:
- Ongoing Investments: Continuous expenditures on research and healthcare infrastructure support market growth by guaranteeing better patient access to corticosteroid treatments and encouraging all-encompassing methods of treating a range of illnesses.
- Introduction of Refined Formulations: Pharmaceutical companies are expanding their offerings in the corticosteroids market expansion by introducing refined formulations, which offer more environmentally responsible, focused, and effective solutions for controlling a variety of inflammatory and autoimmune disorders.
Restraints:
- Adverse Reactions and Side Effects: Side effects and negative reactions present significant market barriers. Even if they are effective as a treatment, long-term or high-dose use can cause problems like osteoporosis, weight gain, mood swings, and increased susceptibility to infections. These worries affect patient adherence and lead medical professionals to look into different approaches. Maintaining equilibrium in the risk-benefit ratio is essential, particularly for long-term conditions, in order to maximize the use of corticosteroids in the treatment of autoimmune and inflammatory diseases while reducing side effects.
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Segmentation Overview
- The Glucocorticoids Sector Accounts for Significant Market Share
The strong anti-inflammatory effects of glucocorticoids are important for the treatment of inflammatory bowel disorders and rheumatoid arthritis. Their ability to inhibit the immune system is essential for the treatment of autoimmune diseases like lupus. Their quick beginning of action is characterized by swift alleviation in acute conditions, such as severe allergic reactions or exacerbations of asthma.
Moreover, glucocorticoids are versatile therapeutic agents that treat a wide range of illnesses, from respiratory disorders to dermatological diseases. They ensure long-term illness control by effectively lowering tissue swelling and improving symptoms, especially in chronic conditions like rheumatoid arthritis. The goal of ongoing research is to improve therapeutic effects by modifying formulations.
- Skin Allergies Sector Holds Significant Revenue Share
Corticosteroids have strong anti-inflammatory properties and quickly reduce the symptoms of skin allergies. Their variety of formulations, which include creams, ointments, and solutions, offers versatility and successfully targets particular sensitivities.
Also, by using topical application, adverse effects and systemic absorption are reduced, and targeted treatment is guaranteed. Corticosteroids improve quality of life by reducing discomfort and slowing the progression of different skin allergies.
Corticosteroids Market: Report Dynamics & Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 8.53 Billion |
| Market size value in 2024 | USD 5.96 Billion |
| Expected CAGR Growth | 4.6% from 2024 – 2032 |
| Base Year | 2023 |
| Forecast Year | 2024 – 2032 |
| Top Market Players | AbbVie Inc., AstraZeneca plc, Bayer AG, Cipla Limited, Eli Lilly and Company among others |
| Segments Covered |
|
| Competitive Landscape |
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| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Browse Press Release: Corticosteroids Market Size Worth $8.53 Billion By 2032 | CAGR: 4.6%
Regional Insights
North America: The corticosteroids market in North America offers a wide range of pharmaceutical treatments for inflammatory diseases. Established players and ongoing technical improvements drive intense competition. Safety regulations, product quality, and innovation are top concerns. Research projects, regulatory compliance, and strategic alliances highlight the industry's dedication to addressing a range of medical requirements.
Asia Pacific: Asia-Pacific's corticosteroid market is characterized by a landscape that is customized to treat medical issues unique to the region. The corticosteroids market demand is expanding as a result of growing healthcare costs, a rise in the frequency of conditions peculiar to a certain region, and government attempts to address the particular healthcare needs of the Asia-Pacific region.
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Key Questions Addressed in the Report:
- At what CAGR is the market for corticosteroids anticipated to grow?
Ans: The corticosteroids market is projected to exhibit a CAGR of 4.6% during the forecast period.
- What are the major driving factors in the market?
Ans: The rising aging population and advancements in drug formulations are the primary factors driving the market growth.
- What are the key segments covered in the report?
Ans: The market segmentation is primarily based on type, route of administration, application, and region.
- What will be the market value estimated by the end of 2032?
Ans: The industry is anticipated to be worth USD 8.53 billion at the end of the forecast period.
Polaris Market Research has segmented the Corticosteroids market report based on type, route of administration, application, and region:
By Type Outlook
- Mineralocorticoids
- Glucocorticoids
By Route of Administration Outlook
- Inhaled
- Topical
- Injectable
- Oral
By Application Outlook
- Skin Allergies
- Gastroenterology
- Endocrinology
- Acute Respiratory Diseases
- Rheumatology Indications
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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