Rise for Drug Resistance, Coupled with Increase in Prevalence of Chronic & Infectious to Drive the Global Steroid-Corticosteroids Market Over the Forecast Period: Ken Research
Corticosteroid is a class of steroidal hormone, which is produced in adrenal cortex and is used to care for several diseased conditions for instance renal disease, cerebral edema, autoimmune disease, GIT disease, skin disease, and others. In addition, naturally occurring corticosteroids are produced by the external portion of the adrenal gland (two small glands that sit on peak of the kidneys) recognized as the cortex. Additionally, steroids are used in organ transplantation & replacement therapy. The hormones may be injected, orally, inhaled or applied topically. Injected corticosteroids are used treating a specific location like inflammation or pain attributable to tendinitis in a joint. The oral corticosteroids are used to treat and help in control symptoms of chronic conditions like rheumatoid arthritis, by reducing the inflammation of the body. Corticosteroids are inhaled to care asthma by reducing the inflammation & swelling of the airways, can also aid lower the risk & frequency of future attacks.
Corticosteroid is often used as an anti-inflammatory prescriptions and immune suppressants to treat asthma, arthritis, autoimmune diseases (lupus & multiple sclerosis), some types of cancer (leukemia), skin conditions (eczema and psoriasis), and the aftermath of organ transplant. Furthermore, some associated side effects are glaucoma, high blood pressure, fluid retention, and weight gain. These side effects are typically minimized by rinsing & gargling with water, without swallowing, to patent any enduring medication. Some examples are included betamethasone, prednisolone, prednisone, methylprednisolone, triamcinolone, and dexamethasone.
According to study, “Global Steroid-Corticosteroids Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the major companies currently operating in the global steroid-corticosteroids market are Sumitomo Corp., Novartis, Pfizer Inc., Merck& Co. Inc., Abbott Laboratories, Johnson and Johnson, Sanofi, AstraZeneca, GlaxoSmithKline (GSK) Plc., Cipla.
Based on product type, global steroid-corticosteroids market is segmented into injection, cream, and others. Based on class, market is categorized into mineralocorticoids (salt retaining) and glucocorticoids (anti-inflammatory). Mineralocorticoids regulate balance of salt & water in the body. Glucocorticoids suppress inflammation & immunity and help in the breakdown of carbohydrates, fats, and proteins. Based on forms, market is classified as injections form, lotions & gels forms or creams, tablets forms and inhalers forms. Based on application, market is segmented into chemotherapy, motion sickness, pregnancy, food poisoning, dizziness, gastroenteritis, general anesthetics, emotional stress, opioid analgesics and others. Based on end-use industries, the market is categorized into clinics, hospitals and others.
The global steroid-corticosteroids are primarily driven by rise in drug resistance, increase in prevalence of chronic & infectious diseases and low cost of products and rise in therapeutical product application. However, side effects related with corticosteroids (for instance cataract, thinning bones, high blood sugar, and high risk of infections) are the major restrains for the market growth.
The global steroid-corticosteroids market are expected to grow at a CAGR of approximately 4.3% over the over the forecast period, and expected to reach US $5130 million in 2024, from US $3980 million in 2019.
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Ankur Gupta, Head Marketing & Communications