The corticosteroids therapy market comprises of sales of artificial corticosteroid drugs utilized to treat a wide variety of syndromes, including asthma, arthritis, skin conditions, and autoimmune diseases and lowers inflammation in the body. Corticosteroids and their biologically active synthetic derivatives vary in their metabolic (glucocorticoid) and electrolyte-regulating (mineralocorticoid) activities. These agents are active at physiological doses for additional therapy when endogenous manufacture is impaired. The market involves of revenue created by the company’s business synthetic corticosteroids by the sales of these products.
According to the study analysis,’ Corticosteroids Therapy Global Market Report 2020-30: Covid 19 Implications and Growth’ The SARS-Covid 19 outbreak research studies illustrate that corticosteroids as adjunctive therapy may be helpful to treat corona viruses if used in the primary acute phase of infection. The use of corticosteroids throughout the treatment of coronaviruses have revealed positive results owing to their capability to control the inflammatory rejoinder. So, corticosteroids market has qualified a surge in its progress. Foremost players in the corticosteroids therapy market are Sumitomo, Pfizer, Novartis, Merck, Sanofi, Johnson and Johnson, GSK, AstraZeneca, Cipla, and LEO Pharma. The growth of silicones for topical and transdermal drug transport is one of the crucial trends in corticosteroid therapy market. Silicone gel sheets are soft wound covers composed of cross-linked polymers strengthened with or bonded to mesh or fabric. A new policy to distribute drugs to the inner ear from dexamethasone (DXM)-loaded silicone implantations and to estimate the distribution of the drug in the cochlea with confocal microscopy and expansion of a new device for local corticosteroids delivery into the oval window with a prolonged drug release of DXM to the inner ear is also seen in recent years. Silicone gel sheeting is also an excellent treatment option for paediatric patients who may not be able to tolerate intraregional corticosteroid injection. Silicone-based pressure-sensitive glues for transdermal drug delivery has exposed advanced diffusivity and better skin permeation rate. Silicones offer numerous rewards like improved drug permeability, high diffusivity and offer efficient function and presentation to modern drug products.
The countries covered in the global corticosteroids market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. North America was the major region in the corticosteroids therapy market in 2019. The corticosteroids therapy market in Asia Pacific is predicted to record the maximum CAGR during 2019-2023.
Furthermore, increasing prevalence of Skin related disease and the rising incidences of rashes, dermatitis, itching, eczema, and psoriasis contributed to the growth of the corticosteroids market. Individual skin diseases varied in size from 0.38% of total burden for dermatitis (atopic, contact, and seborrheic dermatitis), 0.29% for acne vulgaris, 0.19% for psoriasis, 0.19% for urticaria, 0.16% for viral skin diseases, 0.15% for fungal skin diseases, 0.07% for scabies, 0.06% for malignant skin melanoma, 0.05% for pyoderma, 0.04% for cellulitis, 0.03% for keratinocyte carcinoma, 0.03% for decubitus ulcer, and 0.01% for alopecia areata. All other skin and subcutaneous diseases composed 0.12% of total DALYs. The increased prevalence of such disorders increased the demand for corticosteroids, driving the market. Therefore, it is expected that the market of Corticosteroids will boost up in the upcoming years.
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Ankur Gupta, Head Marketing & Communications