Number of pages: 100 | Report Format: PDF | Published date: May 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
CAGR |
3.3% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Indication, Route of Administration, Distribution Channel, and Region |
Forecast Period |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global cortisone acetate market is expected to register a revenue CAGR of 3.3% during the forecast period from 2023 to 2031.
Cortisone Acetate Market Fundamentals
Cortisone acetate is a synthetic corticosteroid medication that belongs to the class of glucocorticoids. It is derived from cortisol, a hormone naturally produced by the adrenal glands. Cortisone acetate is commonly used for its anti-inflammatory and immunosuppressive properties in treating various medical conditions. The medication is available in multiple formulations, including tablets, injectables, and topical preparations. Cortisone acetate is usually administered orally or through injection, depending on the treated condition and the desired mode of action. Cortisone acetate binds to specific receptors in the body, known as glucocorticoid receptors. Once attached, it regulates gene expression, influencing various metabolic and immune processes. It has anti-inflammatory effects by suppressing the immune response, reducing inflammation, and inhibiting the release of inflammatory mediators. Additionally, cortisone acetates, such as lymphocytes and macrophages, can suppress immune cells’ activity.
Cortisone Acetate Market Dynamics
Cortisone acetate is a corticosteroid medication commonly used to treat various inflammatory and autoimmune conditions, such as arthritis, asthma, allergies, and skin disorders. As the incidence and prevalence of these diseases continue to rise globally, the demand for cortisone acetate is expected to increase and thus boost the global cortisone acetate market. For instance, according to the WHO’s factsheet of May 2023, asthma is one of the major non-communicable diseases affecting adults and children; asthma affected 262 million individuals in 2019. Furthermore, pharmaceutical companies are continuously developing innovative drug delivery systems to enhance the efficacy and convenience of cortisone acetate administration. These include transdermal patches, injectables, and intra-articular formulations, which provide targeted drug delivery and improved patient compliance. The availability of these advanced formulations expands the market for cortisone acetate.
Moreover, over the years, there has been a better understanding of the therapeutic benefits of corticosteroids like cortisone acetate. Physicians and patients are more aware of the potential benefits of managing inflammatory conditions and controlling symptoms. This increased awareness and acceptance contribute to the growth of the cortisone acetate market. Continuous improvements in manufacturing processes, such as developing cost-effective synthesis methods and scale-up capabilities, help ensure a stable and consistent supply of cortisone acetate. These advancements contribute to meeting the growing demand and making the product more accessible.
However, cortisone acetate, like other corticosteroids, can have various side effects, especially when used for prolonged periods or at high doses. These side effects may include an increased risk of infections, adrenal suppression, osteoporosis, hypertension, weight gain, mood changes, and diabetes. Safety concerns associated with long-term cortisone acetate use can sometimes limit its widespread adoption and use, particularly in certain patient populations. Moreover, while cortisone acetate is an effective treatment for many inflammatory conditions, alternative medications and therapies are available. For example, nonsteroidal anti-inflammatory drugs (NSAIDs) are commonly used for managing pain and inflammation in certain conditions. Similarly, developing newer biological therapies, immunomodulators, and targeted therapies provides alternative treatment options, which can impact the demand for cortisone acetate. Additionally ,patent expirations, generic competition, availability of alternative treatments, and side effects and safety concerns are some restraints impeding the overall market growth.
Cortisone Acetate Market Ecosystem
The global cortisone acetate market is analyzed from four perspectives: indication, route of administration, distribution channel, and region.
Cortisone Acetate Market by Indication
Based on the indication, the global cortisone acetate market is segmented into rheumatic diseases, dermatologic conditions, ophthalmic diseases, respiratory diseases, gastrointestinal disorders, etc.
The dermatologic conditions segment dominated the market with the principal revenue share in 2022, owing to the rising prevalence of dermatological conditions. For instance, according to the National Eczema Association’s statistics, one in ten individuals in the U.S. will develop eczema during their lifetime, and the prevalence is rising in early childhood. The dermatologic condition refers to using cortisone acetate to treat various skin-related conditions. Cortisone acetate is a synthetic corticosteroid with anti-inflammatory and immunosuppressive properties, effectively managing multiple dermatological conditions. Dermatologic conditions encompass a wide array of skin disorders and diseases that can cause discomfort, pain, inflammation, and itching. Dermatologists widely use cortisone acetate to relieve symptoms and aid healing in several disorders. Some dermatologic conditions for which cortisone acetate is commonly prescribed include eczema, psoriasis, contact dermatitis, dermatitis herpetiformis, dermatological inflammatory diseases, and several others. Eczema is characterized by itchy, inflamed, and dry skin. Cortisone acetate helps reduce inflammation, relieve itching, and improve the overall appearance of the affected skin. These aspects contribute to the growth of the dermatologic conditions segment.
The rheumatic diseases segment also accounted for a significant market revenue in 2022. For instance, according to the Centers for Disease Control and Prevention’s statistics of October 2021, it is estimated that by 2040, 78 million U.S. adults aged 18 or above are expected to have doctor-diagnosed arthritis. Cortisone acetate, a synthetic corticosteroid, possesses potent anti-inflammatory and immunosuppressive properties, making it valuable in managing the symptoms and inflammation associated with rheumatic diseases. Rheumatic diseases encompass a group of disorders characterized by inflammation and pain in the joints, muscles, tendons, ligaments, and connective tissues. Rheumatologists commonly prescribe cortisone acetate to alleviate symptoms, reduce inflammation, and improve the quality of life for patients with rheumatic diseases. Some of the rheumatic diseases for which cortisone acetate is frequently used include rheumatoid arthritis, osteoarthritis, gout, polymyalgia rheumatica, and several others. These aspects contribute to the growth of the rheumatic diseases segment.
Cortisone Acetate Market by Route of Administration
Based on the route of administration, the global cortisone acetate market is segmented into oral and parenteral.
The parenteral segment accounted for a major revenue share of the market in 2022. In the parenteral route of administration, cortisone acetate is administered through non-oral methods, such as injections, infusions, or implants. Parenteral administration allows for the direct delivery of cortisone acetate into the bloodstream, bypassing the digestive system and ensuring rapid and efficient absorption. Cortisone acetate can be injected into the muscle tissue, usually the gluteal or deltoid muscles. Intramuscular injections allow for sustained release and absorption of the medication into the bloodstream, providing a longer duration of action. The parenteral route of administration offers several advantages, including faster onset of action, more precise dosing, and improved bioavailability compared to oral administration. It is particularly beneficial in acute conditions or when gastrointestinal absorption may be compromised. These factors contribute to the growth of the parenteral segment.
Cortisone Acetate Market by Distribution Channel
Based on the distribution channel, the global cortisone acetate market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The online pharmacies segment is a key player in the cortisone acetate market, with the largest revenue share in 2022, as the medications are delivered to the patient’s doorstep. In online pharmacies, the medications are dispensed through online platforms or digital pharmacies. Online pharmacies have gained popularity in recent years, providing customers with convenient access to a wide range of medications, including cortisone acetate, through digital channels. Online pharmacies provide a convenient way for individuals to access cortisone acetate without physically visiting a traditional brick-and-mortar pharmacy. Customers can browse various cortisone acetate products, place orders, and deliver the medication to their doorstep, saving time and effort. Online pharmacies often provide detailed information about cortisone acetate, including dosage instructions, potential side effects, contraindications, and precautions. Customers can access this information to make informed decisions about their treatment and understand the medication's proper use. These overall factors contribute to the growth of the online pharmacies segment.
Cortisone Acetate Market by Region
Geographically, the global cortisone acetate market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global cortisone acetate market with the largest revenue share in 2022 and is expected to register a CAGR of 3.15% during the forecast period, attributed to the presence of key market players, fast adoption of technology, and rising prevalence of inflammatory and autoimmune conditions. For instance, according to the Centers for Disease Control and Prevention factsheet of October 2021, 1 in 4 US adults, or about 58.5 million individuals, have doctor-diagnosed arthritis. North America has a highly developed healthcare infrastructure, including medical facilities, research institutions, and pharmaceutical companies. This infrastructure supports the region's production, distribution, and availability of cortisone acetate. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which are also expected to improve the cortisone acetate market outlook.
Cortisone Acetate Market Competitive Landscape
The prominent players operating in the global cortisone acetate market are:
Cortisone acetate is a synthetic corticosteroid medication that belongs to the class of glucocorticoids.
The revenue CAGR of the cortisone acetate market during the forecast period will be 3.3% from 2023 to 2031.
Some prominent players operating in the global cortisone acetate market areHikma Pharmaceuticals USA Inc., Chartwell Rx, LLC, and Merck & Co., Inc.
The patent expirations, generic competition, availability of alternative treatments, and side effects & safety concerns are some factors that restrict global market growth to full potential.
Increasing awareness and acceptance of corticosteroid therapy, advancements in drug delivery systems, and increasing prevalence of inflammatory and autoimmune diseases drive the market growth.
*Insights on financial performance are subject to the availability of information in the public domain