Corticosteroids Market Size, Share, Growth, Trends, and Forecasts 2021-2031

The global corticosteroids market has experienced significant impacts due to the COVID-19 pandemic, with the healthcare systems worldwide being profoundly affected. Early in the pandemic, it was suggested that inhaled corticosteroids could be beneficial for individuals with asthma and Chronic obstructive pulmonary disease (COPD) as they exhibited a lower rate of COVID-19 infection. Furthermore, research from corticosteroid trials conducted a prospective meta-analysis of randomized trials for corticosteroid therapy for COVID-19, providing valuable insights and guidance for the development of treatment protocols. Notably, methylprednisolone demonstrated superior results to dexamethasone in hospitalized hypoxic COVID-19 patients. Consequently, the use of corticosteroids in the treatment of COVID-19 patients has increased significantly, creating substantial growth opportunities for the corticosteroids market during the forecast period of 2021-2031.

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The report by TMR Research on the corticosteroids market showcases extensive expertise in creating cutting-edge studies for various industries. The research report provides stakeholders and CXOs with valuable insights to make informed decisions, incorporating key trends, competitive analysis, regional viewpoints, restraints, and development impacting the growth of the corticosteroids market.

Key drivers and opportunities for the expansion of the corticosteroids market include the rising incidence of chronic diseases, the growing elderly population, and increased expenditure in research and development. The global burden of chronic diseases is expected to rise rapidly in the coming years, with a significant number of asthma patients worldwide opening new growth avenues for the corticosteroids market. Additionally, the aging population is more susceptible to chronic illnesses, driving the demand for corticosteroid therapy and further expanding the market. However, long-term corticosteroid use poses certain risks, which may somewhat restrain market expansion.
The elderly population, particularly vulnerable to skin diseases, is expected to increase globally, further boosting the growth of the corticosteroids market. In terms of regional dynamics, North America is projected to dominate the global market due to its developed economy, rising healthcare costs, high incidence of sedentary lifestyle-related disorders, and high adoption of technologically advanced products. The prevalence of asthma in North America significantly supports its dominance in the corticosteroids market during the forecast period.