The global corticosteroid market was worth US$ 4.56 Bn in 2021 growing at a CAGR of 5.2% over the forecast period (2022 – 2030). The growth of the global corticosteroid market is driven by a rising demand for steroids which are effective to reduce inflammation. The type of corticosteroid recommended is determined by the ailment being treated. Majority of companies are concentrating on new product development while also expanding the indications of their present items. As a result, these corporations are increasingly investing in R&D in order to gain approval for new indications.
Get PDF sample report with related graphs & charts (Pre & post COVID-19 impact analysis): https://www.absolutemarketsinsights.com/request_sample.php?id=1309
Corticosteroids Market is Expected to See Immense Growth After the COVID-19 Pandemic
Due to rapid spread and unacceptably high mortality toll, Coronavirus Disease 19 (COVID-19) has put a significant strain on healthcare, the economy, and social systems around the world. Multiple randomised trials show that corticosteroid therapy improves clinical outcomes and lowers mortality in COVID-19-infected hospitalised patients who need supplemental oxygen, presumably by reducing the COVID-19-induced systemic inflammatory response, which can cause lung injury and multisystem organ dysfunction. The World Health Organization (WHO) has issued a strong recommendation for corticosteroids in patients with severe and critical COVID-19, and a weak or conditional recommendation against systemic corticosteroids in patients with non-severe disease, i.e. those who do not require respiratory support. Furthermore, clinical trials by the leading players in the market have boosted the growth of global corticosteroids market.
Segmental Analysis: Global Corticosteroids Market
Corticosteroids are used to treat various disorders and disease such as asthma, inflammatory bowel diseases, lupus, rheumatoid arthritis, chronic obstructive pulmonary disease (COPD), allergies, multiple sclerosis. Corticosteroids (cortisone-like medicines) are administered to treat inflamed body parts. Swelling, soreness, itching, and allergic reactions are reduced. They are frequently employed in the treatment of a variety of disorders, including severe allergies and skin problems. In the last few years, there has been a tremendous rise in the cases of people suffering from asthma and allergies. Corticosteroids are often used to treat asthma because they mimic the hormones that your body naturally generates. Asthma symptoms are relieved by steroids because they reduce inflammation and soothe inflamed airways. As a result, asthma symptoms such as dyspnea and coughing are minimised. It'll also keep the lungs from reacting to triggers. Furthermore chronic obstructive pulmonary disease is on the rise amongst a huge population due to the rising pollution and unhealthy lifestyle choices. Corticosteroids through various forms such as oral and inhaled are proving to be an effective treatment for COPD. Thus with advanced effectiveness of corticosteroids to various disorders has led to a rapid growth of global corticosteroids market.
Speak to our analyst in case of queries before buying this report: https://www.absolutemarketsinsights.com/enquiry_before_buying.php?id=1309
Corticosteroids are available in various forms such as tablets, injectable, gels, creams and sprays. As various diseases require different dosages of corticosteroids, for instance, for the treatment of asthma corticosteroids are given in the forms of pills or inhalers. On the other hand a range of skeletal, muscular, and spinal problems can be treated with corticosteroid injections. Some of these injections can be given by your doctor during a typical visit to the clinic. For example, pain and inflammation in the joints are common symptoms of osteoarthritis. A corticosteroid injection into the afflicted joint can provide pain relief for several weeks or months. Thus with various forms of corticosteroids to treat disorders has led to the growth of the market globally.
Hospitals and clinics have had the highest share in the global corticosteroid market in the year 2021. Over the last two decades hospitals have been an immediate point of care for a huge population across the globe. As some disorders and diseases need heavy doses of corticosteroids a doctor’s prescription is needed. On the other hand in the last few years, online pharmacies are growing at a rapid rate. Huge population across various countries are opting for online pharmacies due to various advantages such as affordable pricing, discounts and faster delivery services. Leading players in the market are focusing on expanding their presence through online pharmacies by providing mild corticosteroids over the top counters which are used to treat allergies and mild inflammations. Thus the increased availability of these steroids has led to a huge demand resulting to the growth of the market globally.
View our exclusive press releases on Industry Global News24
Asia Pacific is anticipated to be the fastest growing region in the corticosteroid market during the forecast period. Due to the increasing geriatric population, the demand for corticosteroid has risen in the last few years. Moreover due to the rising cases of various allergies and inflammatory bowel diseases, corticosteroids are widely being used to treat these disorders which has to the growth of market. Furthermore leading players in the market are focused on investing into research and development for advanced treatments which are likely to create new opportunities in the upcoming years. Additionally the leading players in the corticosteroid market are looking forward to have a strong presence in the Asian countries which is expected to boost the growth of the market.
Request for customization to meet your precise research requirements: https://www.absolutemarketsinsights.com/request_for_customization.php?id=1309
The key market participants operating in the global corticosteroids market are:
- GlaxoSmithKline plc
- Merck & Co., Inc
- Other Market Participants
Purchase the latest in-depth Global Corticosteroids Market Report @ https://www.absolutemarketsinsights.com/checkout?id=1309
Global Corticosteroids Market
By Drug Class
- Inflammatory bowel diseases
- Rheumatoid arthritis
- Chronic obstructive pulmonary disease (COPD)
- Multiple Sclerosis
By Route of administration
- Injectable Solution
- Gel/ Creams
By End User
- Hospitals and clinics
- Specialty clinics
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Global Short Bowel Syndrome Market - https://www.absolutemarketsinsights.com/reports/Global-Short-Bowel-Syndrome-Market-2022%E2%80%93-2030-1141
Global Celiac Disease Treatment Market - https://www.absolutemarketsinsights.com/reports/Global-Celiac-Disease-Treatment-Market-2022-%E2%80%93-2030--1126
Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization. From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.
Contact Name: Shreyas Tanna
Company: Absolute Markets Insights
Email Id: [email protected]
Phone: IN +91-7400-24-24-24, US +1-510-420-1213