Global Topical Corticosteroids Market Size, Share, and COVID-19 Impact Analysis By Molecule Name (Fludroxycortide, Triamcinolone Acetonide, Fluocinolone Acetonide, Antiseptics, Betamethasone, Clobetasone Propionate, Clobetasone Butyrate, Halobetasone, Mometasone, Others), By Medication (Ointments, Creams, Liquid and Solutions, Lotions, Gel, Oils, Pastes, Sprays, Others), By Application (Acne, Dermatitis, Psoriasis, Skin Infection, Hyperpigmentation, Melasma, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.Industry: Healthcare
Global Topical Corticosteroids Market Insights Forecasts to 2030
- The global Topical Corticosteroids Market was valued at USD 4.85 billion in 2021.
- The market is growing at a CAGR of 6% from 2021 to 2030
- The global Topical Corticosteroids Market is expected to reach USD 8.19 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period
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The global Topical Corticosteroids Market is expected to reach USD 8.19 billion by 2030, at a CAGR of 6% during the forecast period 2021 to 2030. The expansion of the market is being facilitated by an increased level of education regarding the advantages of corticosteroids that are produced artificially. The potential for expansion of the topical corticosteroids market has been broadened due to the expanding body of knowledge within the realm of medical research.
Corticosteroids are a kind of steroid hormone that may be manufactured artificially or generated naturally by the body. The adrenal cortex is responsible for the production of these hormones. Corticosteroids are a kind of steroid hormone that may be manufactured artificially or generated naturally by the body. The adrenal cortex is responsible for the production of these hormones. Because these hydrocortisone-derivative chemicals have distinct anti-inflammatory capacities, topical corticosteroids are frequently utilized in treating a wide variety of inflammatory conditions. Patients are administered synthetic corticosteroids if their bodies or adrenal cortices cannot manufacture the necessary corticosteroids. Drugs known as topical steroids or corticosteroids are medications intended to reduce inflammation and irritation of the skin by being administered directly to the affected area. They can be obtained through a doctor's prescription or bought over the counter. They come in various concentrations, such as Class I, II, and III topical steroids, among other strengths and forms, such as creams and ointments (OTC). The use of topical steroids can help reduce inflammation in the skin. Inflammation is an indication of a reaction from the immune system. The therapy is applied to the region of the afflicted skin to aid in reducing symptoms such as rashes, scaly patches, itching, pain, redness, and swelling. It is anticipated that an increase in cases of eczema and atopic dermatitis would be the primary factor driving development in the worldwide market for topical corticosteroids (steroids).
Global Topical Corticosteroids Market Report Coverage
|Market Size in 2021:||USD 4.85 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||6%|
|2030 Value Projection:||USD 8.19 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||221|
|Segments covered:||By Molecule Name , By Medication , By Application, By Region|
|Companies Covered:||GlaxoSmithKline plc, Almirall, S.A , Merck & Co., Inc., Bausch Health, Sandoz International GmbH, Pfizer Inc., AstraZeneca, Sanofi, Bayer AG, McKesson Corporation, Regeneron Pharmaceuticals Inc., Allergan, Medtronic, AbbVie Inc., GALDERMA LABORATORIES, L.P., Novartis AG, LEO Pharma A/S|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global topical Corticosteroid Market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Topical Corticosteroids market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Topical Corticosteroids market sub-segments.
- In 2021, the Fludroxycortide segment dominated the market with the largest market share of 20% and market revenue of 0.97 billion.
Based on the molecule name, the Topical Corticosteroids Market is categorized into Fludroxycortide, Triamcinolone Acetonide, Fluocinolone Acetonide, Antiseptics, Betamethasone, Clobetasone Propionate, Clobetasone Butyrate, Halobetasone, Mometasone, Others. In 2021, the Fludroxycortide segment dominated the market with the largest market share of 20% and revenue of 0.97 billion. Because of an increase in the number of inflammatory illnesses worldwide, the "fludroxycortide" sector of the topical corticosteroids market is now the most lucrative. One of the primary reasons contributing to the expansion of the market is the rising prevalence of acute and chronic inflammatory illnesses and disorders worldwide.
- In 2021, the Acne segment accounted for the largest share of the market, with 19% and market revenue of 0.921 billion.
Based on application Type, the Topical Corticosteroids Market is categorized into Acne, Dermatitis, Psoriasis, Skin Infection, Hyperpigmentation, Melasma, and Others. In 2021, the Acne segment dominated the market with the largest market share of 19% and market revenue of 0.921 billion. Corticosteroids are widely used to treat acne, a common skin disease among people that propel the segment’s growth.
- In 2021, the creams segment dominated the market with the largest market share of 20% and market revenue of 0.97 billion
Based on the medication type, the Topical Corticosteroids Market is categorized as Ointments, Creams, Liquid and Solutions, Lotions, Gel, Oils, Pastes, Sprays, and Others. In 2021, the creams segment dominated the market with the largest market share of 20% and market revenue of 0.97 billion. Creams treat skin conditions, including rash, dermatitis, itching, eczema, and psoriasis. This creams segment is also anticipated to dominate the market due to the continuous growth of the geriatric population with rising skin diseases worldwide and the extended storage capacity of topical corticosteroids.
Regional Segment Analysis of the Topical Corticosteroids Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global Topical Corticosteroids Market, with a market share of around 38% and 4.85 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global Topical Corticosteroids, with a market share of around 38% and 4.85 billion of the market revenue. The market for Topical Corticosteroids in the North American region has been expanding due to the rising number of product launches or approvals by regulatory agencies. Furthermore, the region's strong base of healthcare facilities, coupled with the widespread utilization of medications, propels the market’s growth. In addition, the rapid increase in skin disease prevalence, healthcare expenses, significant demand for fresh, topical medicines to cure it, and the rising number of research activities in this region add to the market’s growth.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. The corticosteroids market in the Asia Pacific region has been growing owing to the increasing government initiatives to raise awareness, an increase in medical tourism, expanding research activities in the region, the presence of sizable unexplored markets, the presence of a lot of dermatology clinics, and the rising demand for high-quality healthcare in the area. Furthermore, the presence of large a population base in the region also adds to the growth of the market in the region.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Topical Corticosteroids Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- GlaxoSmithKline plc
- Almirall, S.A
- Merck & Co., Inc.
- Bausch Health
- Sandoz International GmbH
- Pfizer Inc.
- Bayer AG
- McKesson Corporation
- Regeneron Pharmaceuticals Inc.
- AbbVie Inc.
- GALDERMA LABORATORIES, L.P.
- Novartis AG
- LEO Pharma A/S
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In April 2022, A substantial reduction in the severity of atopic dermatitis was observed in patients taking Lilly's lebrikizumab in combination with topical corticosteroids.
- In August 2022, the first participant in a pilot trial to investigate the efficacy of Vamorolone as a possible therapy for Becker muscular dystrophy received a dosage of the drug (BMD). ReveraGen BioPharma has been researching and developing steroid medicine to provide a potential treatment for different kinds of muscular dystrophy.
- In September 2021, Mayne Pharma, a company that commercializes new and generic medications, announced that the US Food and Drugs Administration (FDA) had approved LEXETTE (halobetasol propionate) foam, 0.05% for use in adolescents. This approval allowed the product to be marketed specifically to this age group. The extremely powerful topical corticosteroid LEXETTE has been given the green light for the treatment of plaque psoriasis in individuals older than 12.
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global topical corticosteroid market based on the below-mentioned segments:
Global Topical Corticosteroids Market, By Molecular Name
- Triamcinolone Acetonide
- Fluocinolone Acetonide
- Clobetasone Propionate
- Clobetasone Butyrate
Global Topical Corticosteroids Market, By Potency Class Type
Global Topical Corticosteroids Market, By Medication Type
- Liquid and Solutions
Global Topical Corticosteroids Market, By Application Type
- Skin Infection
Global Topical Corticosteroids Market, By End User Type
- Dermatology Clinics
Global Topical Corticosteroids Market, Regional Analysis
- North America
- The US
- Rest of Europe
- South Korea
- Rest of Europe
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Topical Corticosteroids market?As per Spherical Insights, the size of the Topical Corticosteroids market was valued at USD 4.85 billion in 2021 to USD 8.19 billion by 2030.
What is the market growth rate of the Topical Corticosteroids market?The Topical Corticosteroids market is growing at a CAGR of 6% from 2021 to 2030.
Which country dominates the Topical Corticosteroids market?North America emerged as the largest market for Topical Corticosteroids.
Who are the key players in the Topical Corticosteroids market?Key players in the Topical Corticosteroids market are GlaxoSmithKline plc, Almirall, S.A, Merck & Co., Inc., Bausch Health, Sandoz International GmbH, Pfizer Inc., AstraZeneca, Sanofi, Bayer AG, McKesson Corporation, Regeneron Pharmaceuticals Inc., Allergan, Medtronic, AbbVie Inc., GALDERMA LABORATORIES, L.P., Novartis AG, LEO Pharma A/S.
Which factor drives the growth of the Topical Corticosteroids market?The increasing number of eczema cases drives the market's growth.
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