NEW YORK, July 31, 2023 /PRNewswire/ -- The topical corticosteroids market is estimated to grow at a CAGR of 4% between 2022 and 2027. The market size is forecast to increase by USD 1,089.66 million, according to Technavio. Asia is estimated to contribute 31% to the growth of the global market during the forecast period. Another region that is growing in the topical corticosteroid market is North America. The region's growth is primarily propelled by factors like the high occurrence of skin disorders, a rising geriatric population, and increased awareness and diagnosis of skin conditions. The US stands as the largest market for topical corticosteroids, attributed to factors such as high healthcare expenses, a well-established healthcare infrastructure, and a growing prevalence of skin diseases. Hence, these factors are expected to drive market growth in the region during the forecast period. For Comprehensive details on the market size of the historical period(2017 to 2021) and forecast period (2023-2027) - View Sample report
Vendor Landscape
The topical corticosteroids market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Market Dynamics
Key Drivers & Challenges
Advancement in drug delivery systems is a key factor driving market growth. Several limitations associated with topical corticosteroids have effectively been addressed by recent advancements in drug delivery systems. These improvements focus on enhancing the absorption and bioavailability of the medications while reducing their systemic exposure. Several promising drug delivery systems, such as microemulsions, solid lipid nanoparticles, and dendrimers, hold the potential to augment the effectiveness of topical corticosteroids. Hence, the development of automation and robotics in slaughter equipment is expected to drive market growth in the region during the forecast period.
The availability of alternative treatments is a significant challenge restricting market growth during the forecast period. Some patients choose non-steroidal treatments to treat their skin disorders because of concerns about possible side effects or for other reasons. A key alternative treatment available on the market is the use of topical calcineurin inhibitors. These drugs are effective in treating eczema and various other inflammatory skin conditions. Hence, alternative treatments are expected to restrict market growth during the forecast period.
Major Trends
The growing adoption of generic drugs is a major trend in the market. The rising global prevalence of skin diseases and disorders is driving the increased utilization of generics in the topical corticosteroid market. Furthermore, these drugs are preferred for their cost-effectiveness, making them a popular choice among consumers. The market's competitiveness, with the entry of various companies like Galderma and AstraZeneca Plc, further contributes to the availability of generic options at competitive prices, benefiting consumers with lower drug costs. Hence, these factors are expected to drive market growth during the forecast period.
Company Profiles
The topical corticosteroids market report includes information on the product launches, sustainability, and prospects of leading vendors including AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Galderma SA, GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., LEO Pharma AS, Merck and Co. Inc., Novartis AG, Perrigo Co. Plc, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc..
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
Market Segmentation
The market is segmented by end-user (hospitals, dermatology clinics, pharmacies, and others), type (prescription and OTC), and geography (North America, Europe, Asia, and the Rest of World (ROW))
- The market share growth by the hospitals segment will be significant during the forecast period. Hospitals commonly use topical corticosteroids to treat a range of skin conditions like dermatitis, psoriasis, and eczema. Within hospitals, specialized dermatology departments or skin clinics attend to patients with these conditions. The other factors contributing to their extensive use include the availability of diverse product options, growing awareness among healthcare professionals and patients about the advantages of topical corticosteroids, and the ongoing development of new formulations. Hence, these factors are expected to drive segment growth during the forecast period.
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Topical Corticosteroids Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
Market growth 2023-2027 |
USD 1,089.66 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
3.5 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Asia at 31% |
Key countries |
US, Canada, Saudi Arabia, Russia, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Galderma SA, GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., LEO Pharma AS, Merck and Co. Inc., Novartis AG, Perrigo Co. Plc, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global topical corticosteroids market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global topical corticosteroids market 2017 - 2021 ($ million)
- 4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user
- 6.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 34: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 6.4 Dermatology clinics - Market size and forecast 2022-2027
- Exhibit 38: Chart on Dermatology clinics - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Dermatology clinics - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Dermatology clinics - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Dermatology clinics - Year-over-year growth 2022-2027 (%)
- 6.5 Pharmacies - Market size and forecast 2022-2027
- Exhibit 42: Chart on Pharmacies - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Pharmacies - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Pharmacies - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Pharmacies - Year-over-year growth 2022-2027 (%)
- 6.6 Others - Market size and forecast 2022-2027
- Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.7 Market opportunity by End-user
- Exhibit 50: Market opportunity by End-user ($ million)
- Exhibit 51: Data Table on Market opportunity by End-user ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 52: Chart on Type - Market share 2022-2027 (%)
- Exhibit 53: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 54: Chart on Comparison by Type
- Exhibit 55: Data Table on Comparison by Type
- 7.3 Prescription - Market size and forecast 2022-2027
- Exhibit 56: Chart on Prescription - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Prescription - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Prescription - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Prescription - Year-over-year growth 2022-2027 (%)
- 7.4 OTC - Market size and forecast 2022-2027
- Exhibit 60: Chart on OTC - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on OTC - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on OTC - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on OTC - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 64: Market opportunity by Type ($ million)
- Exhibit 65: Data Table on Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 67: Chart on Market share by geography 2022-2027 (%)
- Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 Asia - Market size and forecast 2022-2027
- Exhibit 79: Chart on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on Asia - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Asia - Year-over-year growth 2022-2027 (%)
- 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
- Exhibit 83: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- 9.7 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.8 Russia - Market size and forecast 2022-2027
- Exhibit 91: Chart on Russia - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Russia - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Russia - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Russia - Year-over-year growth 2022-2027 (%)
- 9.9 Saudi Arabia - Market size and forecast 2022-2027
- Exhibit 95: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)
- 9.10 Canada - Market size and forecast 2022-2027
- Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.11 China - Market size and forecast 2022-2027
- Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.12 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ million)
- Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 112: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 113: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification
- 12.3 AbbVie Inc.
- Exhibit 115: AbbVie Inc. - Overview
- Exhibit 116: AbbVie Inc. - Product / Service
- Exhibit 117: AbbVie Inc. - Key news
- Exhibit 118: AbbVie Inc. - Key offerings
- 12.4 Astellas Pharma Inc.
- Exhibit 119: Astellas Pharma Inc. - Overview
- Exhibit 120: Astellas Pharma Inc. - Product / Service
- Exhibit 121: Astellas Pharma Inc. - Key news
- Exhibit 122: Astellas Pharma Inc. - Key offerings
- 12.5 AstraZeneca PLC
- Exhibit 123: AstraZeneca PLC - Overview
- Exhibit 124: AstraZeneca PLC - Product / Service
- Exhibit 125: AstraZeneca PLC - Key news
- Exhibit 126: AstraZeneca PLC - Key offerings
- 12.6 Bausch Health Co. Inc.
- Exhibit 127: Bausch Health Co. Inc. - Overview
- Exhibit 128: Bausch Health Co. Inc. - Business segments
- Exhibit 129: Bausch Health Co. Inc. - Key news
- Exhibit 130: Bausch Health Co. Inc. - Key offerings
- Exhibit 131: Bausch Health Co. Inc. - Segment focus
- 12.7 Bayer AG
- Exhibit 132: Bayer AG - Overview
- Exhibit 133: Bayer AG - Business segments
- Exhibit 134: Bayer AG - Key news
- Exhibit 135: Bayer AG - Key offerings
- Exhibit 136: Bayer AG - Segment focus
- 12.8 Eli Lilly and Co.
- Exhibit 137: Eli Lilly and Co. - Overview
- Exhibit 138: Eli Lilly and Co. - Product / Service
- Exhibit 139: Eli Lilly and Co. - Key news
- Exhibit 140: Eli Lilly and Co. - Key offerings
- 12.9 Galderma SA
- Exhibit 141: Galderma SA - Overview
- Exhibit 142: Galderma SA - Product / Service
- Exhibit 143: Galderma SA - Key news
- Exhibit 144: Galderma SA - Key offerings
- 12.10 GlaxoSmithKline Plc
- Exhibit 145: GlaxoSmithKline Plc - Overview
- Exhibit 146: GlaxoSmithKline Plc - Business segments
- Exhibit 147: GlaxoSmithKline Plc - Key news
- Exhibit 148: GlaxoSmithKline Plc - Key offerings
- Exhibit 149: GlaxoSmithKline Plc - Segment focus
- 12.11 Glenmark Pharmaceuticals Ltd.
- Exhibit 150: Glenmark Pharmaceuticals Ltd. - Overview
- Exhibit 151: Glenmark Pharmaceuticals Ltd. - Product / Service
- Exhibit 152: Glenmark Pharmaceuticals Ltd. - Key offerings
- 12.12 LEO Pharma AS
- Exhibit 153: LEO Pharma AS - Overview
- Exhibit 154: LEO Pharma AS - Business segments
- Exhibit 155: LEO Pharma AS - Key offerings
- Exhibit 156: LEO Pharma AS - Segment focus
- 12.13 Merck and Co. Inc.
- Exhibit 157: Merck and Co. Inc. - Overview
- Exhibit 158: Merck and Co. Inc. - Business segments
- Exhibit 159: Merck and Co. Inc. - Key news
- Exhibit 160: Merck and Co. Inc. - Key offerings
- Exhibit 161: Merck and Co. Inc. - Segment focus
- 12.14 Novartis AG
- Exhibit 162: Novartis AG - Overview
- Exhibit 163: Novartis AG - Business segments
- Exhibit 164: Novartis AG - Key offerings
- Exhibit 165: Novartis AG - Segment focus
- 12.15 Pfizer Inc.
- Exhibit 166: Pfizer Inc. - Overview
- Exhibit 167: Pfizer Inc. - Product / Service
- Exhibit 168: Pfizer Inc. - Key news
- Exhibit 169: Pfizer Inc. - Key offerings
- 12.16 Sanofi SA
- Exhibit 170: Sanofi SA - Overview
- Exhibit 171: Sanofi SA - Business segments
- Exhibit 172: Sanofi SA - Key news
- Exhibit 173: Sanofi SA - Key offerings
- Exhibit 174: Sanofi SA - Segment focus
- 12.17 Viatris Inc.
- Exhibit 175: Viatris Inc. - Overview
- Exhibit 176: Viatris Inc. - Business segments
- Exhibit 177: Viatris Inc. - Key news
- Exhibit 178: Viatris Inc. - Key offerings
- Exhibit 179: Viatris Inc. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 180: Inclusions checklist
- Exhibit 181: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 182: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 183: Research methodology
- Exhibit 184: Validation techniques employed for market sizing
- Exhibit 185: Information sources
- 13.5 List of abbreviations
- Exhibit 186: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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