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Corticosteroids Market Trends

Report ID: GMI8378
Published Date: Mar 2024
Report Format: PDF

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Corticosteroids Market Trends

Pharmaceutical companies are actively working towards sustainable practices in drug development and manufacturing, to develop more effective, targeted, and novel drug delivery approaches.

There is a shift towards more eco-friendly drug formulations in the pharmaceutical industry. For instance, two new steroid compounds, called SCA and SCB, were created via biotransformation of cortisone using microorganisms. These compounds exhibit anti-inflammatory, antioxidant, and neuroprotective properties, making them promising alternatives to conventional corticosteroids with fewer side effects.
Additionally, recent advancements focus on improving connected drug delivery systems for corticosteroids, particularly in topical and inhaler formulations. For instance, the mucoadhesive polymer patches for improved delivery of topical corticosteroids. These patches offer prolonged and controlled drug delivery, enhancing local bioavailability and safety profiles. They provide advantages such as targeted drug release, reduced systemic absorption, biodegradability, and dissolution of the polymeric platform during drug release.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of corticosteroids reached USD 5.2 billion in 2023 and is set to cross USD 9.8 billion by 2032, owing to the rising incidence of chronic diseases and the increasing prevalence of cancers worldwide.

The glucocorticoids segment is set to reach USD 8.9 billion by 2032, due to an increase in the prevalence of conditions like rheumatoid arthritis, inflammatory bowel disease, asthma, and allergic reactions.

North America market was valued at USD 1.9 billion in 2023, attributed to regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and Health Canada, actively supporting R&D initiatives in the region.

AbbVie Inc., Astellas Pharma Inc., AstraZeneca plc, Bausch Health Companies Inc., Bayer AG, Cipla Limited, Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Sanofi S.A., are some of the major corticosteroids companies worldwide.