Corticosteroids Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Glucocorticoids, Mineralocorticoids), By Route of Administration (Topical, Parenteral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others) and Region  

Corticosteroids Market size was valued at US$ 4.28 billion in 2022 and is expected to reach US$ 5.67 billion by 2029, and is poised to grow at a CAGR of 4.1% from 2023-2029. Corticosteroids are medicines that are commonly used to treat a variety of inflammatory disorders and diseases, including arthritis, asthma, COPD, skin inflammatory ailments including acne and eczema, and other autoimmune diseases. Corticosteroids work by reducing the immune system's response to lessen inflammation. The kind of corticosteroid recommended is determined by the ailment being treated. Corticosteroids come in a variety of forms, including oral capsules or tablets, oral syrups, injectables, topical creams or gels, and inhalers. Inflammation is a prominent symptom of tumours such as lymphoid cancer and leukaemia, hence corticosteroids are frequently utilised in combination therapy. Rising geriatric, growing prevalence of chronic diseases, expanding demand for topical corticosteroids, and increased investment in research & development are all factors propelling the global corticosteroids market forward. Mergers and acquisitions are becoming more common as companies seek to strengthen their market position. In the near future, their increased R&D efforts are projected to drive the corticosteroids industry. The government, on the other hand, is exerting pricing pressure on companies, which is expected to be a major limitation for the worldwide corticosteroids market over the projection period. Furthermore, side effects linked with corticosteroid use, also including extreme amebic colitis, neuropsychiatric disorders, including anxiety or depression, physiological abnormalities, endocrine and gastrointestinal issues, and others, are expected to stymie the global corticosteroids market's growth in the coming years. The use of corticosteroids over an extended period of time raises the risk of staphylococcus blood infections. In the projected timeline of 2021 to 2027, the rapid increase in investment in research and development, as well as various companies increasingly participating in mergers and acquisitions to strengthen their positions, are anticipated to give significant growth opportunities for the corticosteroids market. Furthermore, the high cost of corticosteroids and their varied adverse effects are expected to impede market expansion, whereas the expiration of medication patents and a lack of favourable reimbursement may provide challenges.