According to the current analysis of Reports and Data, the global Cortisone market was valued at USD 1.15 billion in 2018 and is expected to reach USD 1.54 billion by year 2026, at a CAGR of 3.7%. The study covers drivers impacting the market growth, obstruction of the market and upcoming opportunities of the cortisone market. Cortisone is a naturally occurring glucocorticoid that reduces the body immune response. Cortisone is an inactive agent itself but get converted into an active metabolite hydrocortisone into liver. The glucocorticoid (cortisone) work through the glucocorticoid receptors, inhibiting molecules responsible for inflammation. Cortisone shots or an injection form of cortisone is used as an orexigenic to boost the appetite in cancer patients. Moreover, this steroid hormone is not considered as oncogenic, glucocorticoid inhibit the growth and the cell apoptosis in lymphoid system it is used as anti-cancer treatment for leukemia, lymphoma, multiple myeloma. According to the estimation approximately in 2019 1,762,450 new cancer cases is expected to be diagnosed in the US, an estimation in observed approximately 74,200 new incidences of Non-Hodgkin lymphoma and 8,110 new incidences of Hodgkin lymphoma is expected to be encountered in the US. Lymphoma is a type of cancer which originates in lymph system and may spread to another lymph system.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Cortisone Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Key participants include Pfizer Inc., Sun Pharmaceutical Industries Ltd., Taro Pharmaceutical Industries Ltd., Perrigo Company plc, Valeant Pharmaceuticals, Crown Pharmaceuticals, Aptalis Pharma Canada Inc., ANI Pharmaceuticals, Inc., Merit Pharmaceutical, Sandoz
Cortisone Market Segmentation:
Formulation Outlook (Revenue, USD Million; 2016-2026)
- Eye Ointment
- Eye Drop
- Cream and Ointment
Route of Administration Outlook (Revenue, USD Million; 2016-2026)
Application Outlook (Revenue, USD Million; 2016-2026)
- Back pain
- Psoriatic Arthritis
- Rheumatoid Arthritis
- Ankylosing Spondylitis
Patient Use Outlook (Revenue, USD Million; 2016-2026)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Cortisone market over the forecast period?
- What are the major factors driving the growth of the Global Cortisone Market?
- What are the key challenges impacting the global Cortisone market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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