Market Highlights
The Topical
Corticosteroids Market Size is expected to reach at 6.6% CAGR during the
forecast period 2023-2032. Topical steroids are medication and available in
various forms such as creams, lotions, and solutions. They are directly applied
to the skin to reduce inflammation and irritation.
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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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