Global Topical Corticosteroids Market is expected to reach USD 4,440.38 million by 2024 from USD 2,828.36 million in 2016, at a CAGR of 5.8%. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The global topical corticosteroids market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. The global topical corticosteroids market is dominated by LEO Pharma, followed by Glaxosmithkline Plc and Pfizer Inc. Other players in this market include Merck & Co., Inc., Novartis AG, Sanofi, Actimis Pharmaceuticals, Almirall, S.A., AstraZeneca, Zylera Pharmaceuticals among others holds 18.1% of the global topical corticosteroids market in 2016.
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Founded in 1908 and headquartered in Ballerup, Denmark. LEO Pharma is involved in development, manufacturing and marketing of pharmaceutical drugs for dermatologic and thrombotic patients. Leo pharma comprises of two major segments Dermatology and Thrombosis. Dermatology segment is further subdivided into Psoriasis, Actinic keratosis, non-melanoma skin cancer, Eczema, Skin infections and Acne.
LEO Pharma A/S is a wholly owned subsidiary of the LEO Foundation. LEO Pharma also has a range of well-established products in the areas of cardiovascular, antibiotics, coagulation, osteoporosis and renal care. Leo pharma is present in Europe, Middle East, Africa, Asia, North America, Central America, South America and Oceania.
Founded in 1830 and headquartered in Middlesex, United Kingdom. Glaxosmithkline (GSK) is involved in research, development and manufacturing of pharmaceutical medicines, vaccines and consumer healthcare products. Pharmaceuticals segment has major three categories which includes respiratory, HIV and established products. The major categories of vaccine segment include Infanrix/Pediarix, Hepatitis and Meningitis. Consumer healthcare is subdivided into four major segments Wellness, Oral health, Nutrition and Skin health. Topical corticosteroids are offered in both pharmaceutical medicines and consumer healthcare segment.
GSK operates in more than 150 markets globally and has around 87 manufacturing sites. GSK operates on a global basis, primarily through subsidiary companies ViiV Healthcare, Stiefel Laboratories and others.
Founded in 1942 and headquartered in New York, U.S. Pfizer Inc., is engaged in discovering, developing and, manufacturing of healthcare products. Pfizer Inc., operates through two segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). Its therapeutic regions incorporate oncology, antibodies, cardiovascular, metabolic, irritation, immunology, neuroscience, torment, uncommon illnesses and purchaser human services.
The company has a strong geographic presence in more than 40 countries across North America, Latin America, Europe, Eastern Europe, the Middle East, Africa, and Asia-Pacific, with manufacturing units in Europe, the Middle East and Africa, Asia-Pacific, Japan, Latin America, and the U.S. The subsidiaries of the company include Agouron Pharmaceuticals (U.S.), G.D. Searle & Company (U.S.), Innopharma (U.S.), Greenstone (U.S.), Parke-Davis (U.S.), and Pfizer UK.
Global Topical Corticosteroids Market By Molecule Name (Fludroxycortide, Triamcinolone Acetonide, Fluocinolone Acetonide, Antiseptics, Betamethasone, Clobetasone Propionate, Clobetasone Butyrate, Halobetasone, Mometasone, Others), Brands (Betnovate, Betnovate N, Panderm Plus, Lobate, Cosvate G, Clop G, Tenovate GN, Lobate GM, Ultiderm, Flutivate, Fexin, Momate, Candiderm, Others), Purchase Mode (OTC-Based, Prescription-Based), Application (Acne, Dermatitis, Psoriasis, Skin Infections, Hyperpigmentation, Melasma, Others), Medication Type (Ointments, Creams, Liquid & Solutions, Lotions, Gel, Oils, Pastes, Sprays, Others), Potency Class (Ultra High, High, Moderate, Mild), End User (Hospital, Dermatology Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacies, Pharmacy Stores, Online Pharmacies, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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The factors such as increasing prevalence of chronic disease or condition, rise in aging population, growth in topical drug delivery, increasing research and development, new product launches are furthermore boosting the growth of the global topical corticosteroids market.
INCREASING PREVALENCE OF CHRONIC DISEASE OR CONDITION
There has also been gradual demographic transition from patterns of high fertility and mortality to low fertility and delayed mortality rates. As a result of such demographic transitions, the shape of global age distribution is changing. Increase in hypertension, temperature, etc. causes demand for vital sign monitoring devices. High blood pressure can lead to heart diseases, kidney diseases, and heart stroke and also cause death at times. According to the Centres for Disease Control and Prevention (CDC), about 70.0% of US adults of age 65 or older have high blood pressure and only 50% of them have it under control (less than 140/90 mmHg). Causing of several diseases like coronary artery disease, dementia, kidney failure, kidney artery aneurysm etc. affect older adults to disability, low quality of life, increase in health and long term care costs. According to HCUPnet, surgical treatment of lumbar/ lumbosacral degenerative disc disease has reached up to 105,195 till 2014 with a CAGR of 25.82% for the year 2004-2014 in U.S. According to an article published in National Center for Biotechnology Information (NCBI), surgeons nowadays for performing the procedures which were previously done as open surgery. Thus with the growing number of diseases, the demand for various drugs are also increasing.
GROWING NUMBER OF GERIATRIC POPULATION
Another major factor contributing to the growth of the topical corticosteroids market includes increasing number of the elderly population in the country. Furthermore, government support in the form of funding also drives the growth of this market.
According to the Population Reference Bureau (PRB) in 2016, in US, the ages 65 and older is estimated to grow double from 46 million to more than 98 million by 2060, and the 65-and-older age group’s contribution in the total population will rise to closely 24.0% from 15.0%. According to National Institute of Health (NIH), by 2050, the global life expectancy at birth is estimated to rise by almost eight years, ranging from 68.6 years in 2015 to 76.2 years in 2050.
The growing geriatric population leads to more number of spinal diseases as the elderly population gets affected very soon with the disease. For Instance, according to an article of National Center for Biotechnology Information (NCBI), almost 28.0% increase in anterior discectomy and fusion was detected in geriatric patients. According to World Population Ageing, the number of older people generally having age of 60 years or more is expected to increase from 841 million in 2013 to more than 2 billion in 2050.
GROWTH IN DEMAND OF TOPICAL DRUG DELIVERY DRUGS
The topical corticosteroids market is growing due to the growing market of the topical drug delivery globally. The drugs are of targeted type rather than systemic. The drugs are delivered to restricted sites, such as joints or diseased skin sites. The topical drugs are safe and more accurate in the delivery of drugs to newborns, the geriatric population, and people whose absorbing ability is conceded. The topical drug delivery is administered through non-oral routes for providing the complex and latest chemical entities. The deliveries of drugs are in a constant fashion and maintain active levels over extended time, without frequent oral applications.
INCREASING INVESTMENT IN RESEARCH AND DEVELOPMENT
The topical corticosteroids market is growing due to the increasing investment in research and development in the topical corticosteroids. The corticosteroids are the basic therapy for various inflammatory skin conditions. In last few years, the progression of original molecules with better and improved benefit/risk ratio and advanced formulations has increased the field of topical corticosteroid therapy.
According to an article published in National Center for Biotechnology Information (NCBI), the recent technologies which include swollen crosslinked silicone elastomer blend networks, amphiphilic resin linear polymers, sugar siloxanes and silicone hybrid pressure sensitive adhesives have been developed for better performance welfares and enhanced drug delivery efficacy.
NEW PRODUCT LAUNCHESBY KEY PLAYERS
- Topical corticosteroids are used for the treatment for atopic dermatitis since years. The hydrocortisone was the first corticosteroids to be used and now few additional corticosteroid compounds have been licensed for the treatment of atopic dermatitis. New and latest products have been launched for the growth of the market by various companies:
- Teva launched the Desoximetasone Ointment, which is a topical steroid, used for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.
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