Market Highlights
The Topical
Corticosteroids Market Size is expected to reach at 6.6% CAGR during
the forecast period 2023-2032.
The
Topical Corticosteroids Market is a dynamic segment within the pharmaceutical
industry, characterized by the widespread use of corticosteroid-based
medications for various dermatological conditions. This market is driven by
factors such as increasing incidences of skin disorders like eczema, psoriasis,
and dermatitis, coupled with rising awareness about available treatment
options. Key players in this market continually innovate to introduce new
formulations and delivery mechanisms, aiming to enhance efficacy and patient
compliance. Regulatory frameworks and stringent approval processes influence
market dynamics, alongside factors like pricing, reimbursement policies, and
competition from alternative treatment options. Overall, the Topical
Corticosteroids Market remains vital in addressing dermatological ailments
worldwide.
The
Topical Corticosteroids Market is witnessing a surge in demand driven by the
growing prevalence of skin conditions necessitating steroidal
skin treatments. These medications, renowned for their potent
anti-inflammatory properties, are increasingly becoming the frontline therapy
for various dermatological ailments. From eczema to psoriasis, their efficacy
in alleviating symptoms and managing flare-ups is unparalleled. As patients
seek relief from itching, redness, and inflammation, pharmaceutical companies
are innovating to offer a diverse range of topical corticosteroids tailored to
different skin types and severities. This market expansion is not only fueled
by the rising incidence of skin disorders but also by the continuous
advancements in formulation technologies, enhancing drug delivery mechanisms
and ensuring better patient compliance.
Major Players in the Topical Corticosteroids Market
Some
of the key Topical Corticosteroids Market Players are.
- AstraZeneca plc.,
- GlaxoSmithKline plc.,
- Merck & Co., Inc.,
- Pfizer Inc.,
- Sandoz AG (Novartis AG),
- Sanofi S.A.,
- Actimis Pharmaceuticals,
- Valeant Pharmaceuticals,
- Almirall,
- S.A,
- Zylera Pharmaceuticals.
Segmentation
The
global topical corticosteroids market is segmented on the basis of type of
formulation. it is segmented into ointments, creams, and others.
- On the basis of type of potency
class, it is segmented into ultra-high, high, moderate, and low. The
ultra-high is further segmented into clobetasol propionate, and
diflorasone diacetate. The high segment is further segmented into
amcinonide, betamethasone dipropionate, desoximetasone, fluocinonide,
halcinonide, and others. The moderate segment is further segmented into
desoximetasone, fluocinolone acetonide, fludroxycortide, hydrocortisone
valerate, triamcinolone acetonide, and others. And the low segment is
further segmented into betamethasone valerate, desonide, fluocinolone
acetonide, and others.
- On the basis of
treatment, it
is segmented into contact dermatitis, insect stings, psoriasis, eczema,
and others.
- On the basis of end user, the market is
segmented into hospitals, dermatology clinics, pharmacies, and others.
Regional Analysis
The
global topical corticosteroids market consists of four regions: the Americas,
Europe, Asia Pacific, and the Middle East & Africa.
Asia
Pacific is the fastest growing and potential market for the topical
corticosteroids due to increasing number of dermatology clinics and rising
prevalence of skin related diseases in the developing countries. Furthermore,
government support and encouragement to healthcare domain, and favourable
government policies for pharmaceuticals companies likely to drive the growth of
this market over the review period.
The
Middle East & Africa is expected witness steady growth due to rising demand
for primary healthcare services such as new and advanced treatment methods in
healthcare domain.
The
Americas dominates the global topical pharmaceuticals market. It comprises of
two regions namely North America and South America. North America is the
largest market owing to rising prevalence of skin diseases in the American
counties and increasing geriatric population with skin related diseases.
According to the American Academy of Dermatology, ~50% of Americans over age 65
have one or other forms of skin diseases.
In
Europe, extensive demand for skin care and topical products to treat skin
diseases drives the demand for topical corticosteroids. Moreover, increasing
expenditure in healthcare domain and investment in the research &
development of new treatment methods for skin related diseases will fuel to the
growth of the market.
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