Topical Corticosteroids Market

Topical steroids are available in a variety of strengths and are classified into seven classes based on their potency. Class I (class one) contains the strongest steroids, while Class VII contains the weakest (class seven). Topical steroids in Class I are 600 to 1,000 times more powerful than those in Class VII. The right steroid strength, or potency, is determined by a number of factors. Babies, for example, absorb topical steroids much faster than adults, so a low-potency steroid may be required. Topical steroids are absorbed quickly in parts of the body where skin touches flesh, such as the armpits or beneath the breasts, or in sensitive areas of skin, such as the eyelids, and may only require a low-potency formulation. Market Dynamics Market players are focused on launching generic products, this is expected to contribute to growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in March 2019, Lupin Limited, an Indian pharmaceutical company announced the launch of Fluocinonide Ointment USP, 0.05 %, which was approved by the US Food and Drug Administration (FDA) in July 2018. Lupin's Fluocinonide Ointment USP, 0.05% is the generic equivalent of County Line Pharmaceuticals LLC's Lidex Ointment 0.05%. It is used to treat inflammatory and pruritic symptoms associated with corticosteroid-responsive dermatoses. Market players are involved in strategies such as acquisitions, which is expected to contribute to growth of global topical corticosteroids (steroids) market. For instance, in October 2018, Mayne Pharma, a specialty pharmaceutical company, announced that it has acquired the US and Australia rights to halobetasol foam 0.05% for US$32.0 million. Halobetasol foam is a highly potent corticosteroid that is used to treat plaque psoriasis. Increasing initiatives by non-profit organizations for better treatment of eczema is expected to aid growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in September 2021, on world eczema day (September 14), eleven patient organizations from eight countries came together to launch the Global Patient Initiative to Improve Eczema Care (GPIIEC). The programme is a global effort to develop a uniform yardstick for evaluating how well health systems respond to demands of patients and their caregivers. This groundbreaking collaboration has discovered aspects of health-care delivery that matter most to patients and caregivers, as well as indicators to assess them across eight developed countries (Australia, Canada, Denmark, France, Italy, Germany, United States, and the United Kingdom). Key features of the study • This report provides an in-depth analysis of global topical corticosteroids (steroids) market , provides market size (US$ Billion), and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market. • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players • It profiles leading players in the global topical corticosteroids (steroids) market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans • Key companies covered as a part of this study include GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics • The global topical corticosteroids (steroids) market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts • Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global topical corticosteroids (steroids) market. Market Segmentation • By Formulation o Creams o Ointments o Gels o Others (solutions, foams, spray, etc.) • By Application o Acne o Dermatitis o Psoriasis o Eczema o Hyperpigmentation o Others (rash, etc.) • By Distribution Channel o Hospital Pharmacies o Retail Pharmacies o Online Pharmacies • By Region o North America  U.S.  Canada o Latin America  Brazil  Mexico  Argentina  Rest of Latin America o Europe  Germany  Italy  Spain  France  Russia  Rest of Europe o Asia Pacific  China  India  Japan  Australia  South Korea  ASEAN  Rest of Asia Pacific o Middle East  GCC  Israel  Rest of Middle East o Africa  South Africa  Central Africa  North Africa • Key Players o GlaxoSmithKline plc o Merck & Co., Inc. o Sandoz International GmbH o AstraZeneca o LEO Pharma, Cipla Inc. o Bristol-Myers Squibb Company o Almirall, S.A. o Bausch Health o Sanofi SA