Topical Corticosteroids Market Trends to 2024 by Top Players - LEO Pharma, Glaxosmithkline Plc and Pfizer
Some of the major players operating in this market are:-
Merck & Co. Inc.,
LEO Pharma A/S,
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Global Topical Corticosteroids Market is expected to reach USD 4,440.4 million by 2024 from USD 2,828.4 million in 2016, at a CAGR of 5.8%. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Segmentation: Global Topical Corticosteroids Market
Global Topical Corticosteroids Market By Molecule Name (Fludroxycortide, Triamcinolone Acetonide, Fluocinolone Acetonide, Antiseptics, Betamethasone, Clobetasone Propionate, Clobetasone Butyrate, Halobetasone, Mometasone, Others), Brands (Betnovate, Betnovate N, Panderm Plus, Lobate, Cosvate G, Clop G, Tenovate GN, Lobate GM, Ultiderm, Flutivate, Fexin, Momate, Candiderm, Others), Purchase Mode (OTC-Based, Prescription-Based), Application (Acne, Dermatitis, Psoriasis, Skin Infections, Hyperpigmentation, Melasma, Others), Medication Type (Ointments, Creams, Liquid & Solutions, Lotions, Gel, Oils, Pastes, Sprays, Others), Potency Class (Ultra High, High, Moderate, Mild), End User (Hospital, Dermatology Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacies, Pharmacy Stores, Online Pharmacies, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Drivers: Global Topical Corticosteroids Market
The factors such as increasing prevalence of chronic disease or condition, rise in aging population, growth in topical drug delivery, increasing research and development, new product launches are furthermore boosting the growth of the global topical corticosteroids market.
INCREASING PREVALENCE OF CHRONIC DISEASE OR CONDITION
There has also been gradual demographic transition from patterns of high fertility and mortality to low fertility and delayed mortality rates. As a result of such demographic transitions, the shape of global age distribution is changing. Increase in hypertension, temperature, etc. causes demand for vital sign monitoring devices. High blood pressure can lead to heart diseases, kidney diseases, and heart stroke and also cause death at times. According to the Centres for Disease Control and Prevention (CDC), about 70.0% of US adults of age 65 or older have high blood pressure and only 50% of them have it under control (less than 140/90 mmHg). Causing of several diseases like coronary artery disease, dementia, kidney failure, kidney artery aneurysm etc. affect older adults to disability, low quality of life, increase in health and long term care costs. According to HCUPnet, surgical treatment of lumbar/ lumbosacral degenerative disc disease has reached up to 105,195 till 2014 with a CAGR of 25.82% for the year 2004-2014 in U.S. According to an article published in National Center for Biotechnology Information (NCBI), surgeons nowadays for performing the procedures which were previously done as open surgery. Thus with the growing number of diseases, the demand for various drugs are also increasing.
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The global topical corticosteroids market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. The global topical corticosteroids market is dominated by LEO Pharma, followed by Glaxosmithkline Plc and Pfizer Inc. Other players in this market include Merck & Co., Inc., Novartis AG, Sanofi, Actimis Pharmaceuticals, Almirall, S.A., AstraZeneca, Zylera Pharmaceuticals among others holds 18.1% of the global topical corticosteroids market in 2016.
Founded in 1908 and headquartered in Ballerup, Denmark. LEO Pharma is involved in development, manufacturing and marketing of pharmaceutical drugs for dermatologic and thrombotic patients. Leo pharma comprises of two major segments Dermatology and Thrombosis. Dermatology segment is further subdivided into Psoriasis, Actinic keratosis, non-melanoma skin cancer, Eczema, Skin infections and Acne.
LEO Pharma A/S is a wholly owned subsidiary of the LEO Foundation. LEO Pharma also has a range of well-established products in the areas of cardiovascular, antibiotics, coagulation, osteoporosis and renal care. Leo pharma is present in Europe, Middle East, Africa, Asia, North America, Central America, South America and Oceania.
Founded in 1830 and headquartered in Middlesex, United Kingdom. Glaxosmithkline (GSK) is involved in research, development and manufacturing of pharmaceutical medicines, vaccines and consumer healthcare products. Pharmaceuticals segment has major three categories which includes respiratory, HIV and established products. The major categories of vaccine segment include Infanrix/Pediarix, Hepatitis and Meningitis. Consumer healthcare is subdivided into four major segments Wellness, Oral health, Nutrition and Skin health. Topical corticosteroids are offered in both pharmaceutical medicines and consumer healthcare segment.
GSK operates in more than 150 markets globally and has around 87 manufacturing sites. GSK operates on a global basis, primarily through subsidiary companies ViiV Healthcare, Stiefel Laboratories and others.
Founded in 1942 and headquartered in New York, U.S. Pfizer Inc., is engaged in discovering, developing and, manufacturing of healthcare products. Pfizer Inc., operates through two segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). Its therapeutic regions incorporate oncology, antibodies, cardiovascular, metabolic, irritation, immunology, neuroscience, torment, uncommon illnesses and purchaser human services.
The company has a strong geographic presence in more than 40 countries across North America, Latin America, Europe, Eastern Europe, the Middle East, Africa, and Asia-Pacific, with manufacturing units in Europe, the Middle East and Africa, Asia-Pacific, Japan, Latin America, and the U.S. The subsidiaries of the company include Agouron Pharmaceuticals (U.S.), G.D. Searle & Company (U.S.), Innopharma (U.S.), Greenstone (U.S.), Parke-Davis (U.S.), and Pfizer UK.
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