NEW YORK ,
July 18,
2024 /PRNewswire/ -- The global topical
corticosteroids market size is estimated to grow by
USD 1.08 billion from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of 4% during the forecast period. Advancements in drug
delivery systems is driving market growth, with a trend
towards growing adoption of generic drugs.
However, availability of alternative treatments poses a
challenge. Key market players include AbbVie Inc., Astellas Pharma
Inc., AstraZeneca PLC, Bausch Health Co. Inc., Bayer AG, Cipla
Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Galderma SA,
GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., LEO Pharma AS,
Merck and Co. Inc., Novartis AG, Perrigo Co. Plc, Pfizer Inc.,
Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical
Industries Ltd., and Viatris Inc..
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Topical
Corticosteroids Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4%
|
Market growth
2023-2027
|
USD 1089.66
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.5
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
Asia at 31%
|
Key
countries
|
US, Canada, Saudi
Arabia, Russia, and China
|
Key companies
profiled
|
AbbVie Inc., Astellas
Pharma Inc., AstraZeneca PLC, Bausch Health Co. Inc., Bayer AG,
Cipla Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co.,
Galderma SA, GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd.,
LEO Pharma AS, Merck and Co. Inc., Novartis AG, Perrigo Co. Plc,
Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva
Pharmaceutical Industries Ltd., and Viatris Inc.
|
Market Driver
The topical corticosteroids market is witnessing a notable trend
towards the increased use of generic drugs. This trend is driven by
several factors, including the rising prevalence of skin diseases
and disorders worldwide and the affordability of generic drugs. The
cost-effectiveness of these drugs makes them more accessible to
patients, particularly in countries with limited healthcare
resources and lower-income populations. Additionally, the
intensifying competition among drug manufacturers is leading to
lower prices for consumers as companies strive to offer competitive
pricing. The expiration of patents for several branded drugs has
also opened up the market for generic alternatives. As a result,
the adoption of generic drugs in the global topical corticosteroids
market is projected to continue growing in the forecast period, as
patients seek affordable treatment options and competition among
manufacturers intensifies.
Topical corticosteroids are in high demand due to increasing
cases of skin irritation, inflammation, rashes, scaly areas,
itching, pain, redness, and swelling. Prescription and
over-the-counter (OTC) markets are thriving, with manufacturing
companies producing various forms like nasal sprays, ointments, and
creams. However, supply chain disruptions due to manufacturing
industries' shutdown and educational sectors' offline closures have
affected production. Corona cases have also impacted the market,
with Formosa Pharmaceuticals and AimMax Therapeutics leading the
way. Potent derivatives such as Prednisolone, Fludroxycortide,
Triamcinolone Acetonide, Fluocinolone Acetonide, Betamethasone,
Clobetasone Propionate, Clobetasone Butyrate, Halobetasone,
Mometasone, in the Ultra-High potency class are commonly used for
children's skin disorders and allergies. Antiseptics are often
combined with topical corticosteroids to enhance their
effectiveness. Manufacturing companies are focusing on producing
various medication types to cater to diverse consumer
needs.
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Market Challenges
- The topical corticosteroids market faces a significant
challenge due to the availability of alternative treatments for
various skin conditions. These alternatives, such as topical
calcineurin inhibitors, topical retinoids, coal tar, and
phototherapy, offer patients options with fewer side effects or
different mechanisms of action. For instance, topical calcineurin
inhibitors inhibit the immune system response, while topical
retinoids normalize skin cell growth. Coal tar slows down skin cell
growth and reduces inflammation, and phototherapy uses ultraviolet
light to treat skin conditions. The presence of these alternatives
may hinder the growth of the topical corticosteroids market in the
forecast period.
- The Topical Corticosteroids market encompasses various forms
like Liquids and Solutions, Lotions, Gels, Oils, Pastes, Sprays,
used to treat several skin-related diseases such as Acne,
Dermatitis, Psoriasis, Skin Infection, Hyperpigmentation, Melasma,
and more. Challenges include diverse product formats, conditions
like Eczema, Atopic Dermatitis, and complexities in distribution
through Hospital Pharmacies, Pharmacy Stores, Online Pharmacies,
Hospitals, Dermatology Clinics, and Homecare. Market opportunities
lie in addressing inflammatory skin diseases like Becker Muscular
Dystrophy, Asthma, Skin allergies, Arthritis, Insect stings,
Contact dermatitis, and chronic diseases affecting the geriatric
population. ReveraGen BioPharma focuses on synthetic
corticosteroids for topical use. Market definition includes Steroid
hormones, Anti-inflammatory effect, and Hydrocortisone. Factors
like Smoking, Aging populations, and COPD may impact market
growth.
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Segment Overview
This topical corticosteroids market report extensively covers
market segmentation by
- End-user
- 1.1 Hospitals
- 1.2 Dermatology clinics
- 1.3 Pharmacies
- 1.4 Others
- Type
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Hospitals- Topical corticosteroids are
essential medications used in hospitals for treating various skin
conditions, including dermatitis, psoriasis, and eczema.
Dermatology departments and skin clinics in hospitals commonly
prescribe these treatments to alleviate symptoms like itching,
inflammation, and redness. Topical corticosteroids come in
different strengths and formulations, such as creams, ointments,
and gels, catering to diverse patient requirements. The market for
topical corticosteroids in hospitals is projected to expand due to
the rising incidence of skin disorders globally. Key factors
fueling this growth include an extensive product range, heightened
awareness among healthcare professionals and patients regarding
topical corticosteroids' benefits, and the emergence of new
formulations with enhanced efficacy and safety profiles.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
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reports
The global vasculitis treatment market is witnessing significant
growth, driven by advancements in immunosuppressive therapies and
increased awareness. Major players are focusing on innovative
treatments to address various forms of vasculitis. Meanwhile, the
global uveitis drugs market is expanding due to rising incidences
of the disease and enhanced diagnostic techniques. Key companies
are investing in biologics and corticosteroids. The global atopic
dermatitis drugs market is also growing, propelled by the
development of targeted biologic therapies and increasing
prevalence. Companies are concentrating on novel treatments to
improve patient outcomes.
Research Analysis
Topical corticosteroids are synthetic forms of steroid hormones
used primarily for the treatment of inflammatory skin diseases,
asthma, skin allergies, arthritis, insect stings, and contact
dermatitis. These medications come in various forms, including
ointments and creams, and include active ingredients such as
Fludrocortide, Triamcinolone Acetonide, Fluocinolone Acetonide,
Betamethasone, Clobetasone Propionate, Clobetasone Butyrate,
Halobetasone, Mometasone, and Potency Classes ranging from
Ultra-High. They work by reducing the activity of the immune system
and have an anti-inflammatory effect. Topical corticosteroids are
also used to manage chronic diseases and are particularly
beneficial for the geriatric population. Some common side effects
include thinning of the skin, increased risk of infections, and
adverse effects on growth in children. Smoking can increase the
absorption and potential side effects of topical corticosteroids.
Hydrocortisone is another commonly used corticosteroid, but it is
typically administered orally or through injection rather than
topically.
Market Research Overview
Topical corticosteroids are a type of medication used to treat
various skin-related diseases, including acne, dermatitis,
psoriasis, skin infection, hyperpigmentation, melasma, eczema,
atopic dermatitis, and more. These medications contain synthetic
steroid hormones, such as Fludrocortide, Triamcinolone Acetonide,
Fluocinolone Acetonide, Betamethasone, Clobetasone Propionate,
Clobetasone Butyrate, Halobetasone, Mometasone, and others. The
potency of these corticosteroids can range from low to ultra-high,
and they come in different forms like ointments, creams, liquid and
solutions, lotions, gels, oils, pastes, sprays, and even pastes.
Topical corticosteroids are used to reduce inflammation, itching,
pain, redness, swelling, and other symptoms caused by various skin
conditions. They work by suppressing the immune system's response
to inflammation. Some common indications for topical
corticosteroids include acne, dermatitis, psoriasis, skin
infection, hyperpigmentation, melasma, eczema, and atopic
dermatitis. The market for topical corticosteroids is vast and
diverse, with various distribution channels such as hospital
pharmacies, pharmacy stores, online pharmacies, hospitals,
dermatology clinics, homecare, and more. The market opportunities
for topical corticosteroids are significant due to the increasing
prevalence of chronic diseases like eczema, atopic dermatitis, and
psoriasis, especially in the geriatric population. However, the
market faces challenges such as manufacturing industries shutdowns,
educational sectors off, supply chain disruptions, and the impact
of corona cases on production and distribution. Some common side
effects of topical corticosteroids include skin irritation,
thinning of the skin, and increased risk of infections. It is
important to use topical corticosteroids under the guidance of a
healthcare professional to minimize the risks and maximize the
benefits. Some other corticosteroids, such as systemic
corticosteroids, inhaled corticosteroids, and nasal sprays, are
used for different indications and should not be confused with
topical corticosteroids. Companies like ReveraGen BioPharma are
exploring new uses for topical corticosteroids in conditions like
Becker Muscular Dystrophy. The market definition for topical
corticosteroids includes various forms of synthetic corticosteroids
used topically for the treatment of inflammatory skin diseases,
allergies, arthritis, insect stings, and contact dermatitis.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Hospitals
- Dermatology Clinics
- Pharmacies
- Others
- Type
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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