What is Corticosteroids?
Corticosteroids, are a form of anti-inflammatory drug. Rheumatologic conditions such as rheumatoid arthritis, lupus, and vasculitis are commonly treated for them (inflammation of the blood vessels). The drugs cortisone and prednisone are examples of specific corticosteroids. Corticosteroids are identical to cortisol, a hormone released naturally by the adrenal glands. Cortisol is needed for good health. Cortisol is involved in a variety of bodily functions, including digestion, immune response, and stress. They are often used in the treatment of a variety of disorders, including serious allergies or skin conditions, asthma, and arthritis. Systemic steroids pass across the circulation and support a broader variety of organs. They can be given orally, through an IV, or through a needle implanted into a muscle.
The market study is broken down by Type (Glucocorticoids and Mineralocorticoids), by Application (Hospital, Clinic and Others) and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analysts at AMA Research estimates that Players from United States & United Kingdom will contribute to the maximum growth of Global Corticosteroids market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer Inc. (United States), GlaxoSmithKline plc (United States), Watson Pharmaceuticals (Teva) (United States), Sandoz (Novartis) (Germany), AstraZeneca (United Kingdom), Hikma Pharmaceuticals plc (United Kingdom), Cipla (India), American Regent, Inc. (Daiichi) (United States), Fougera Pharmaceuticals Inc (United States) and Sumitomo Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Almus Pharmaceuticals Ltd (United Kingdom), Sanofi (France), Jenapharm (Germany), Trotwood Pharma Limited (United Kingdom) and Krka Pharmaceuticals (Slovenia).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Corticosteroids market by Type, Application and Region.
On the basis of geography, the market of Corticosteroids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Route of Administration, the sub-segment i.e. Oral will boost the Corticosteroids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Capsules will boost the Corticosteroids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 26th June, 2018 - Hikma Pharmaceuticals PLC (Leading Generic Pharmaceutical Company) Announced that its Wholly-Owned US Subsidiary, West-Ward Pharmaceuticals Corp., Will Operate Uner the Name “Hikma Pharmaceuticals USA Inc.” or “Hikma”. and On 8th January, 2019 - Takeda Completed its Acquisition of Shire, this Acquisition has enlarged Takeda’s Global Presence and Leadership Role Across Japan And the United States, And R&D-Driven Biopharmaceutical Capabilities to Its Portfolio.
On 3rd September, 2020 – World Health Organization (WHO), Following A Review of Multiple Studies That Found That Anti-Inflammatory Drugs Like Dexamethasone and Hydrocortisone Decreased Mortality of Seriously Ill Patients By 20%, The WHO Has Urged Physicians to Use Anti-Inflammatory Drug Corticosteroids in The Treatment Of COVID-19.
United States, Code of Federal Regulations 21, “Sec. 862.1385 17-Hydroxycorticosteroids” - USDA is the key Regulatory Authority Responsible for Identification, Inspection and Classification of Hydroxy corticosteroids across the United States, FDA limits the usage to licensed prescription holders only. Any New Entrant is Required to have a Regulatory Clearance form FDA.
Market Trend
- Growing Investments in Healthcare Infrastructure
Market Drivers
- Prevalence of Severe Acute Respiratory Syndrome (SARS)
- Growing Geriatric Population
Opportunities
- Low Penetration in Emerging Economies Particularly in Asian Region
- Emergence of Advance and Effective Techniques
Restraints
- Lack of Trained Professionals
Challenges
- Side Effects and Adverse Reactions
- Regulatory Approval
Key Target Audience
Corticosteroids Drug Manufactures, New Entrants and Investors, Corticosteroids Drug Distributors and Suppliers, API Providers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.