Number of pages: 120 | Report Format: PDF | Published date: November 19, 2021
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global dexamethasone market was valued at US$ 500 million in 2021 and is expected to register a revenue CAGR of 6% to reach US$ 1052 million by 2031.
Dexamethasone Market Fundamentals
Dexamethasone is a glucocorticoid medication used to treat various inflammatory diseases and autoimmune conditions. Dexamethasone belongs to a class of drugs known as corticosteroids. It decreases the immune system's response to various diseases to reduce symptoms such as swelling and allergic-type reactions.
Dexamethasone Market Dynamics
The global dexamethasone market is driven by the rising prevalence of diseases such as asthma, rheumatoid arthritis, allergic diseases, growing cases of COVID-19, and increasing R&D activities. Furthermore, growing public and private initiatives are also contributing to the revenue growth of the market. However, the shortage of drugs is expected to restrain market revenue growth to some extent.
Dexamethasone Market Ecosystem
The global dexamethasone market is analyzed from four perspectives: route of administration, application, distribution channel, and region.
Dexamethasone Market by Route of Administration
Based on the route of administration, the global dexamethasone market is segmented into oral, parenteral, and topical.
The oral segment accounts for the largest revenue share in the global dexamethasone market. The large share of this segment is attributed to its advantages over the other routes of administration. The oral route of administration is the simplest, most convenient, and safest means of drug administration.
Dexamethasone Market by Application
Based on application, the dexamethasone market is segmented into asthma, rheumatoid arthritis, COVID-19, ulcerative colitis, and others (skin disorders, allergic disorders, etc.).
COVID-19 is expected to be the fastest-growing segment during the forecast period. According to Oxford University researchers, dexamethasone reduced death rates by almost a third among those COVID-19 patients who required mechanical breathing assistance. After this announcement, hospitals and other healthcare clients purchased more than 600% more of the medicine.
Dexamethasone Market by End User
Based on the end-users, the dexamethasone market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.
The hospital pharmacy segment dominates the market with the largest revenue share. The large revenue share of this segment is attributed to the high demand for dexamethasone at the hospitals because of the large number of patients visiting the hospitals for the treatment of various diseases. Furthermore, increasing hospitalization of patients with severe respiratory complications of COVID-19 is driving the revenue growth of the hospital pharmacy segment.
Dexamethasone Market by Region
Based on region, the global dexamethasone market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW).
North America accounts for the largest revenue share in the global dexamethasone market. The large revenue share of North America can be attributed to the increasing healthcare expenditure, the growing prevalence of asthma and rheumatoid arthritis, and increasing FDA approval for various dexamethasone formulations. Moreover, the rising demand for the drug in the region, owing to its positive results in treating COVID-19 patients, also contributes to the market revenue.
Dexamethasone Market Competitive Landscape
The prominent players operating in the dexamethasone market include:
Strategic Developments in Dexamethasone Market
Dexamethasone is a member of the corticosteroid medication subclass. A glucocorticoid drug called dexamethasone is used to treat a variety of inflammatory illnesses and autoimmune disorders.
The global dexamethasone market was valued at US$ 500 million in 2020.
The dexamethasone market value is expected to reach US$ 1,052 million by 2031.
The rising prevalence of diseases such as asthma, rheumatoid arthritis, allergic diseases, growing cases of COVID-19, and increasing R&D activities are the key factors driving the revenue growth of the global dexamethasone market.
Novartis AG, Pfizer Inc, Cadila Pharmaceuticals, Sun Pharmaceutical Industries Ltd, and Allergan are among the top players operating in the global dexamethasone market.
The global dexamethasone market is expected to register a revenue CAGR of 6.0% during the forecast period 2021-2031.
North America accounts for the largest revenue share in the global dexamethasone market.
*Insights on financial performance is subject to availability of information in the public domain