Corticosteroids Market Size

Corticosteroids Market Size

Corticosteroids Market size was valued at USD 5.2 billion in 2023 and is expected to grow at a CAGR of 7.5% between 2024 and 2032. The rising incidence of chronic diseases and the increasing prevalence of cancers are some of the key factors expected to drive the growth of the market.

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The prevalence of chronic diseases is rapidly increasing globally, attributed to factors like poor health behaviors, genetic predisposition, environmental influences, and lifestyle choices. Chronic conditions such as heart disease, cancer, and diabetes are leading drivers of the nation’s USD 4.1 trillion in annual healthcare costs. Additionally, cancer, including common types like prostate, breast, melanoma (skin), uterine, colon, rectum, thyroid, bladder, non-Hodgkin lymphoma, kidney, ovarian, and lung cancers, contributes significantly to this trend.

According to the Centers for Disease Control and Prevention (CDC), in 2020 alone, there were 1.6 million new cancer cases reported, and 0.6 million people died of cancer in the U.S. This rise in the prevalence of such conditions is fueling the demand for corticosteroids, thereby expected to drive market growth.

Corticosteroids are a class of steroid hormones produced naturally in the adrenal cortex of vertebrates or synthesized for medical use. They play a vital role in regulating various physiological processes, including metabolism, immune response, and stress response.