Corticosteroids Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Route of Administration, By Application, By Region and Competition, 2020-2030F

Global Corticosteroids Market was valued at USD 6.14 Billion in 2024 and is expected to reach USD 8.20 Billion in the forecast period with a CAGR of 4.92% through 2030. The Global Corticosteroids Market has experienced significant growth over the years due to the increasing prevalence of chronic inflammatory and autoimmune disorders, such as asthma, arthritis, and dermatitis. These conditions require long-term management, and corticosteroids are commonly prescribed as part of the treatment regimen due to their ability to reduce inflammation and modulate immune responses. The rising awareness about the benefits of corticosteroids in treating a range of conditions has further contributed to their widespread use, leading to an increase in demand. Moreover, the market is witnessing the development of new corticosteroid formulations that offer improved efficacy and reduced side effects, which appeals to both patients and healthcare providers.

A key trend in the market is the growing adoption of combination therapies that incorporate corticosteroids. These therapies aim to improve treatment outcomes and reduce the need for higher doses of corticosteroids, which can have adverse long-term effects. With the rise of chronic diseases, especially among the aging population, the demand for more advanced, targeted corticosteroid treatments continues to increase. The market is also benefiting from the rising focus on personalized medicine, as tailored corticosteroid treatments can offer better efficacy for patients with specific needs, such as those with rare autoimmune diseases or conditions that involve complex inflammation mechanisms. The integration of digital health technologies also supports better patient monitoring, ensuring more precise and effective use of corticosteroid treatments.

Despite the positive growth outlook, the Global Corticosteroids Market faces several challenges. The long-term use of corticosteroids is associated with potential side effects, including weight gain, osteoporosis, and increased susceptibility to infections, which may deter patients from adhering to treatment regimens. There is also increasing concern regarding the over-prescription of corticosteroids, which may lead to unnecessary side effects. Furthermore, the market faces regulatory hurdles related to the approval of new corticosteroid drugs, particularly in the areas of safety and efficacy, which can delay the launch of new products. The cost of corticosteroid therapies, especially for long-term treatments, may also be a challenge, as healthcare systems look for cost-effective alternatives to manage chronic diseases. Despite these challenges, the demand for corticosteroids is expected to remain strong, driven by the ongoing need for effective treatments for inflammatory and autoimmune conditions.

Key Market Drivers

Rising Incidence of Chronic Inflammatory Diseases

The rising incidence of chronic inflammatory diseases is a significant driver for the Global Corticosteroids Market. Conditions such as rheumatoid arthritis, inflammatory bowel disease (IBD), and psoriasis are becoming increasingly prevalent worldwide. For instance, a study published in The Lancet in 2021 reported that the global prevalence of IBD increased from 3.32 million cases in 1990 to 4.90 million cases in 2019, marking a 47.45% rise over this period.

Similarly, the Centers for Disease Control and Prevention (CDC) reported that approximately 53.2 million U.S. adults aged 18 years and older had diagnosed arthritis between 2019 and 2021, with an age-standardized prevalence of 18.7%.

The increasing prevalence of these chronic inflammatory conditions is driven by factors such as aging populations, lifestyle changes, and environmental influences. As the global population ages, the incidence of age-related inflammatory diseases rises. Lifestyle factors, including sedentary behavior and poor dietary habits, contribute to the development of conditions like rheumatoid arthritis and IBD. Environmental factors, such as pollution and smoking, also play a role in the onset of these diseases.

Corticosteroids are widely prescribed to manage these conditions due to their potent anti-inflammatory properties. They help reduce inflammation, alleviate symptoms, and improve the quality of life for patients. The growing burden of chronic inflammatory diseases is expected to drive the demand for corticosteroid therapies, thereby propelling market growth. In summary, the rising incidence of chronic inflammatory diseases, driven by demographic and lifestyle factors, is a key factor propelling the growth of the Global Corticosteroids Market. The increasing prevalence of these conditions underscores the need for effective treatments, with corticosteroids playing a central role in their management.

Advancements in Drug Delivery Systems

Advancements in drug delivery systems are a key driver in the growth of the Global Corticosteroids Market. The evolution of drug delivery technologies, particularly for corticosteroids, has significantly improved treatment outcomes, patient compliance, and the overall effectiveness of corticosteroid therapies. Inhalers and nebulizers for respiratory conditions, such as asthma and COPD, have seen major improvements in terms of efficiency, ease of use, and precision in delivering the correct dose of medication directly to the lungs. These innovations have made corticosteroid treatments more targeted and effective, reducing systemic side effects and increasing their therapeutic benefits.

The development of advanced formulations such as dry powder inhalers (DPIs), metered-dose inhalers (MDIs), and combination inhalers has expanded the range of corticosteroid treatment options, making them more accessible and effective for a wider population. Additionally, the introduction of sustained-release formulations for oral corticosteroids has improved patient compliance by reducing the frequency of administration and minimizing side effects, which are often associated with long-term use.

Injectable corticosteroids are also benefiting from advancements in drug delivery systems, with innovations in controlled release injectables, reducing the frequency of administration and offering better management of conditions like rheumatoid arthritis and autoimmune diseases. These advancements are not only improving the overall patient experience but also helping clinicians manage chronic conditions more efficiently. As these drug delivery systems continue to evolve, they will likely drive further growth in the corticosteroids market, particularly in emerging markets where access to advanced treatments is increasing.

Government Initiatives and Healthcare Infrastructure Improvements

Government initiatives and improvements in healthcare infrastructure are pivotal drivers fueling the growth of the Global Corticosteroids Market. In recent years, many governments worldwide have focused on strengthening healthcare systems and enhancing access to essential treatments, such as corticosteroids, especially in regions where chronic diseases like asthma, autoimmune disorders, and dermatological conditions are prevalent. For instance, India's Economic Survey 2023 reported a significant increase in government expenditure on healthcare, with the budgeted share of the health sector in the GDP rising to 2.1% in fiscal year 2022-23, compared to 1.6% in 2020-21. This growth in healthcare spending highlights the government's commitment to improving healthcare infrastructure and making treatments, including corticosteroids, more accessible to the general population.

Furthermore, the Ministry of Health and Family Welfare in India released the "Health Dynamics of India (Infrastructure and Human Resources) 2022-23" report, which underscores significant advancements in healthcare infrastructure. As of March 31, 2023, India had a total of 1,69,615 Sub-Centres, 31,882 Primary Health Centres, 6,359 Community Health Centres, 1,340 Sub-Divisional/District Hospitals, and 362 Medical Colleges. This robust healthcare infrastructure has helped in providing broader access to corticosteroid treatments, particularly in rural and underserved regions, which were previously underserved in terms of medical resources.

Such government-driven investments in healthcare systems and infrastructure not only make treatments more accessible but also support efforts to improve the diagnosis and treatment of chronic conditions, driving the demand for corticosteroids. These initiatives are helping reduce healthcare disparities, enhancing patient access to life-saving treatments, and facilitating broader market penetration. As these programs continue to grow, they will significantly contribute to the sustained expansion of the corticosteroids market globally.

Key Market Challenges

Adverse Side Effects of Long-Term Use

The adverse side effects of long-term use of corticosteroids represent a significant challenge for the Global Corticosteroids Market. While corticosteroids are highly effective in treating a variety of conditions such as respiratory diseases, autoimmune disorders, and dermatological conditions, their prolonged use can lead to a range of health complications. These side effects include osteoporosis, weight gain, high blood pressure, diabetes, cataracts, and an increased risk of infections due to the immunosuppressive nature of corticosteroids. Such adverse effects can deter patients and healthcare providers from opting for long-term corticosteroid therapies, limiting their use to only necessary cases or short durations.

Patients who require long-term corticosteroid treatment often face a trade-off between managing their condition and coping with the side effects. This dilemma can affect treatment adherence and patient outcomes, leading to a reduction in the demand for corticosteroid medications in certain markets. Healthcare professionals also have to balance the benefits of corticosteroids with the potential risks, making them cautious when prescribing these drugs for chronic conditions. Furthermore, regulatory bodies are increasingly scrutinizing the safety profiles of medications, including corticosteroids, pushing pharmaceutical companies to invest in research to develop safer alternatives or better formulations with fewer side effects. This challenge is leading to the development of novel corticosteroid derivatives or alternative therapies that aim to reduce the adverse effects associated with long-term use. As awareness about these risks grows among both patients and physicians, it is expected to impact the growth of the corticosteroid market and encourage the search for better treatment options.

Increasing Regulatory Scrutiny and Approval Delays

Increasing regulatory scrutiny and approval delays are significant challenges facing the Global Corticosteroids Market. Regulatory bodies such as the U.S. Food and Drug Administration (FDA), European Medicines Agency (EMA), and others have stringent requirements for the approval of new corticosteroid products and formulations. These include extensive clinical trial data, safety profiles, and evidence of therapeutic efficacy, which often result in lengthy and costly approval processes. As the market sees a rise in the development of new corticosteroid therapies, especially those targeting specific conditions or offering novel delivery mechanisms, the regulatory process has become more complex and time-consuming.

Approval delays can lead to significant revenue losses for companies that rely on timely market entry of their products. Any delay in obtaining regulatory approval may cause a product to miss key market opportunities, particularly when competing treatments are already available. The extended timelines also increase the costs associated with research and development, further raising the financial burden on companies in the corticosteroid market.

In addition, the evolving regulatory landscape around drug safety, manufacturing practices, and quality control is adding another layer of complexity. Regulatory bodies are becoming more focused on ensuring that corticosteroid products meet high standards, particularly regarding their long-term safety profiles. As a result, companies must invest more resources in complying with these evolving standards, which can slow down the development and commercialization of corticosteroids, hindering the market's growth. This increased scrutiny and approval delays create significant barriers for both new and existing players in the market, affecting their competitive position.

Key Market Trends

Integration of Biologics with Corticosteroids

The integration of biologics with corticosteroids is a significant trend shaping the Global Corticosteroids Market. Biologics, particularly monoclonal antibodies, have emerged as a complementary treatment for various autoimmune and inflammatory conditions, often used in combination with corticosteroids to enhance therapeutic outcomes. This combination approach is particularly evident in the treatment of conditions such as rheumatoid arthritis, psoriasis, and asthma, where corticosteroids are effective in managing inflammation, while biologics target the underlying immune response.

In diseases like rheumatoid arthritis, biologics have shown the potential to modify the disease process, providing long-term benefits, while corticosteroids remain a go-to treatment for managing acute flare-ups. By combining these two treatment options, patients experience improved disease control and reduced symptom severity. The combination approach also helps mitigate the side effects associated with long-term corticosteroid use, such as osteoporosis and weight gain, by allowing for lower corticosteroid doses.

This integration is gaining momentum as clinical studies continue to demonstrate the efficacy of biologic and corticosteroid combinations in improving patient outcomes. For instance, a study published in the American Journal of Clinical Dermatology highlights that combining biologic agents with traditional therapies, such as methotrexate, can provide improved therapeutic options for patients who inadequately respond to a single drug or when efficacy may be increased with supplementation of another treatment.

Pharmaceutical companies are increasingly investing in research to develop combination therapies that incorporate biologics and corticosteroids, offering better-targeted treatments with fewer side effects. This trend is expected to grow as healthcare providers aim to provide personalized, more effective therapies, especially for chronic diseases where long-term management is essential. The continued evolution of combination therapies represents a promising frontier in corticosteroid treatment, contributing to market growth and offering patients more effective, sustainable solutions for managing chronic inflammatory conditions.

Increasing Adoption of Combination Therapies

The increasing adoption of combination therapies is a prominent trend in the Global Corticosteroids Market, driven by the need for more effective and tailored treatments for complex conditions such as asthma, rheumatoid arthritis, and chronic obstructive pulmonary disease (COPD). Combination therapies involve using corticosteroids in conjunction with other medications, such as bronchodilators, biologics, or disease-modifying antirheumatic drugs (DMARDs), to provide enhanced therapeutic benefits. For instance, in asthma treatment, corticosteroids are often paired with long-acting beta-agonists (LABAs) to improve lung function and reduce inflammation, resulting in better symptom control and fewer exacerbations.

This trend has gained significant momentum as healthcare providers recognize the value of combination treatments in managing chronic inflammatory conditions more effectively. By combining corticosteroids with other drug classes, the goal is to achieve a synergistic effect, where the benefits of both drugs are amplified, allowing for lower doses of corticosteroids while maintaining or improving treatment efficacy. This reduces the potential for side effects, which are a concern with long-term corticosteroid use, such as osteoporosis and weight gain.

The adoption of combination therapies is supported by advancements in drug formulation technologies that allow for more convenient, fixed-dose combinations, improving patient adherence and convenience. As the demand for personalized medicine grows, pharmaceutical companies are increasingly focused on developing combination therapies that target multiple pathways of disease progression simultaneously. These therapies are expected to dominate in treating conditions that require long-term management, offering improved outcomes and better quality of life for patients. The rising preference for combination therapies is poised to drive growth in the corticosteroids market, offering more comprehensive and sustainable treatment options.

Segmental Insights

Type Insights

Based on the Type, Glucocorticoids emerged as the dominant segment in the Global Corticosteroids Market in 2024. This is due to their widespread use in the treatment of a variety of chronic and acute conditions, including autoimmune diseases, asthma, and inflammatory disorders. These corticosteroids are primarily used for their potent anti-inflammatory and immunosuppressive properties, making them the first-line treatment for conditions such as rheumatoid arthritis, lupus, and multiple sclerosis. Their ability to provide rapid symptom relief and control inflammation is a major factor driving their dominance in the market. Moreover, glucocorticoids are available in a variety of formulations, including oral, topical, and injectable forms, offering flexibility in treatment options. This versatility allows healthcare providers to tailor treatments to the specific needs of patients, further bolstering their market share. The global prevalence of chronic inflammatory conditions and autoimmune diseases is rising, contributing to the growing demand for glucocorticoid therapies. Their effectiveness in managing conditions like asthma, COPD, and skin allergies further supports their widespread use. Despite concerns over long-term side effects such as weight gain, osteoporosis, and increased risk of infections, the benefits of glucocorticoids in managing acute flare-ups and chronic diseases continue to make them a dominant choice in corticosteroid therapies. This broad utility and established clinical efficacy are key reasons for their leading position in the market.

Route of Administration Insights

Based on the Route of Administration, Topical emerged as the dominant segment in the Global Corticosteroids Market in 2024. This is due to their targeted and effective treatment for various dermatological conditions, such as eczema, psoriasis, and dermatitis. These medications are applied directly to the skin, offering localized relief with fewer systemic side effects compared to oral or injectable corticosteroids. This makes topical corticosteroids a preferred choice for patients and healthcare providers when treating skin-related inflammatory conditions. The growing prevalence of skin disorders worldwide, including allergic skin reactions, acne, and inflammatory skin diseases, is contributing to the increasing demand for topical corticosteroids. Their ability to reduce inflammation, redness, and itching associated with these conditions makes them highly effective and widely prescribed. Furthermore, the availability of various strengths, formulations (creams, ointments, lotions), and packaging options allows healthcare providers to select the most appropriate treatment based on the severity and location of the condition. Topical corticosteroids are also favored for their ease of use, allowing patients to apply the medication themselves at home, which enhances patient compliance and treatment outcomes. As patients and healthcare providers increasingly seek treatments that minimize the risk of systemic side effects while effectively managing skin conditions, topical corticosteroids remain the dominant and preferred route of administration in the corticosteroids market.

Regional Insights

North America emerged as the dominant region in the Global Corticosteroids Market in 2024. This is due to several key factors, including high healthcare expenditure, a well-established healthcare infrastructure, and a large patient population suffering from chronic conditions such as asthma, arthritis, and autoimmune diseases. The region has a robust demand for corticosteroids, driven by the high prevalence of inflammatory disorders, respiratory diseases, and skin conditions that require long-term management with corticosteroid medications. The United States, in particular, is the largest market for corticosteroids due to its advanced healthcare system, access to cutting-edge treatments, and a large number of pharmaceutical companies developing and marketing corticosteroid drugs. Government programs, such as Medicare and Medicaid, further support the affordability and accessibility of corticosteroid treatments, contributing to their widespread use. North America's well-developed regulatory framework ensures that new corticosteroid treatments are rigorously tested and approved, promoting innovation in the field. The growing adoption of combination therapies, which often include corticosteroids, also drives market growth in the region. With increasing awareness of chronic conditions and advancements in treatment options, North America remains the dominant region in the global corticosteroids market, supported by a combination of healthcare policies, patient demand, and innovation in therapeutic options.

Key Market Players

• AbbVie Inc.
• AstraZeneca plc
• Bayer AG
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd.
• GlaxoSmithKline plc
• Merck & Co., Inc.
• Novartis International AG
• Pfizer Inc.
• Sanofi S.A.

Report Scope:

In this report, the Global Corticosteroids Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Corticosteroids Market, By Type:

• Glucocorticoids
• Mineralocorticoids

Corticosteroids Market, By Route of Administration:

• Inhaled
• Topical
• Injectable
• Oral

Corticosteroids Market, By Application:

• Skin Allergies
• Gastroenterology
• Endocrinology
• Acute Respiratory Diseases
• Rheumatology Indications
• Others

Corticosteroids Market, By Region:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Corticosteroids Market.

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Global Corticosteroids Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).