The market for topical corticosteroids (steroids) is expected to reach US$ 4.12 billion in 2022 and is segmented by region (Africa, North America, Latin America, Europe, Asia Pacific, and Middle East), formulation (gels, creams, and ointments,), application (hyperpigmentation, acne, eczema, dermatitis, psoriasis), distribution channel (onlinePharmacies, hospital pharmacies, and retail pharmacies) from 2022 to 2030.
The worldwide market for topical corticosteroids (steroids) is predicted to develop at a faster rate than average during the forecast period because industry players are concentrating on inorganic methods like acquisitions. For instance, in July 2019, Bayer AG, a global firm with significant competence in the life sciences of nutrition and healthcare, and LEO Pharma, a medical dermatology company, jointly announced the acquisition of Bayer’s global prescription dermatology business by LEO Pharma. The purchase will result in an expansion of LEO Pharma’s product line and treatment options for topical steroids, rosacea, fungal skin infections, and acne.
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The worldwide topical corticosteroids (steroids) market is anticipated to develop at a faster rate over the projected period as more medicines receive regulatory clearance. For instance, Sun Pharmaceuticals, an Indian multinational pharmaceutical firm, announced in August 2020 that the US Food and Drug Administration (FDA) had authorised its Ultravate (halobetasol propionate) cream for the treatment of plaque psoriasis in patients twelve (12) years of age and older. The same usage of Ultravate in patients aged eighteen (18) and over was previously authorised. Generic halobetasol propionate is also offered as an ointment and lotion.
Globally, the COVID-19 pandemic has had an impact on a number of markets. The COVID-19 pandemic has had three primary effects on demand and supply of healthcare products: it has directly influenced their production and demand; it has disrupted the routes of distribution; and it has had a financial impact on businesses and financial markets.
Due to an increase in skin rash and various infections in COVID-19 patients, there was a major COVID-19 impact on the global market for topical corticosteroids (steroids). For instance, a review of the literature conducted by the American Academy of Dermatology’s COVID-19 Registry in October 2021 revealed that of those 171 laboratory-confirmed COVID-19 sick people with cutaneous expressions from the registration system, morbilliform rash (22%) was the highest frequently stated, followed by pernio-like acral lesions (18%), urticaria (16%), and macular erythema (12%).
Over the projected period, the market for topical corticosteroids (steroids) is anticipated to grow at a CAGR of 4.36%. (2022-2030). Due to growing eczema awareness initiatives, North America is anticipated to have a significant market share throughout the projected period (2022-2030). As an illustration, The National Eczema Association (NEA) began a public awareness campaign in October 2021 that highlighted the many experiences people have with eczema and how they manage it. As part of this multifaceted project, NEA is enabling eczema sufferers to share their distinctive experiences through stories and images on social media using hashtags like #thisismyeczema, #1in31Million, the ongoing campaign hashtag, #UnhideECZEMA, and others.
Sanofi SA, GlaxoSmithKline plc, Bausch Health, Merck & Co., Inc., S.A., Sandoz International GmbH, Almirall, AstraZeneca, Bristol-Myers Squibb Company, LEO Pharma, and Cipla Inc., are significant market participants in the topical corticosteroids (steroids) industry.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Topical Corticosteroids Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Topical Corticosteroids Industry Impact
Chapter 2 Global Topical Corticosteroids Competition by Types, Applications, and Top Regions and Countries
2.1 Global Topical Corticosteroids (Volume and Value) by Type
2.3 Global Topical Corticosteroids (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Topical Corticosteroids Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Topical Corticosteroids Market Analysis
Chapter 6 East Asia Topical Corticosteroids Market Analysis
Chapter 7 Europe Topical Corticosteroids Market Analysis
Chapter 8 South Asia Topical Corticosteroids Market Analysis
Chapter 9 Southeast Asia Topical Corticosteroids Market Analysis
Chapter 10 Middle East Topical Corticosteroids Market Analysis
Chapter 11 Africa Topical Corticosteroids Market Analysis
Chapter 12 Oceania Topical Corticosteroids Market Analysis
Chapter 13 South America Topical Corticosteroids Market Analysis
Chapter 14 Company Profiles and Key Figures in Topical Corticosteroids Business
Chapter 15 Global Topical Corticosteroids Market Forecast (2022-2028)
Chapter 16 Conclusions
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