Global Topical Hydrocortisone Market: Introduction
• Topical hydrocortisone is defined as a medicine that's directly applied to the skin to treat a range of skin conditions (e.g., insect bites, poison oak/ivy, eczema, dermatitis, allergies, rash, itching of the outer female genitals, anal itching). Hydrocortisone reduces the swelling, itching, and redness that may occur in these kinds of conditions.
• Topical delivery is considered as the foremost convenient and preferred treatment option for skin diseases. Most drugs are systemic therapies, while topical drugs are generally targeted therapies. These drugs are delivered to restricted sites such as joints or diseased skin sites.
• According to the CDC, in the U.S., 2 million people are infected with bacteria that is resistant to antibiotics, and at least 23,000 people die due to such infections
• According to the estimation of WHO, approximately 30 million people suffer from sepsis every year globally. Especially in low-income countries where the mortality rate exceeds 60%, sepsis is a major challenge for doctors. Sepsis is caused when the body’s immune response is overactive and injures its own tissues. Hydrocortisone in combination with vitamin C and thiamine can be used for the treatment of sepsis shock and prevention of organ dysfunction and kidney injury.
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Key Drivers, Restraints, and Opportunities of Topical Hydrocortisone Market
• Continuous research in the treatment of various skin conditions and a rise in new product launches are key factors driving the market
• Topical hydrocortisone has been utilized for the treatment of atopic dermatitis for several years. Hydrocortisone was the first corticosteroid used for the treatment of atopic dermatitis. Currently, numerous additional corticosteroid compounds have been licensed for the treatment of atopic dermatitis.
• Auto-immune diseases, such as rheumatoid arthritis, which exhibit signs of inflammation at the articulation are rising worldwide, and hydrocortisone can be used to lower the inflammation
• According to American Autoimmune Related Disease Association, approximately 50 million people have been diagnosed with an auto-immune disease and this number is expected to increase in the near future. Approximately, US$ 888 million have been spent research on auto-immune disease.
• Topical drugs are safer for newborn babies and geriatric patients. These drugs are administered consistently through non-oral routes by maintaining active levels over an extended time. Thus, an increase in preference for topical drug delivery is expected to drive the global topical corticosteroids market.
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North America to Dominate Global Topical Hydrocortisone Market
• North America accounted for a prominent share of the global topical hydrocortisone market due to an increase in prevalence of skin disease and the demand for new topical products for its treatment. According to Stanford University, every year about 5.4 million new cases of skin-related diseases are diagnosed in the U.S. Additionally, a rise in the geriatric population is another factor boost the market in North America.
• Europe is the second-largest topical hydrocortisone market across the globe owing to increasing awareness about skin-related diseases, expansion of the dermatology market in numerous countries across Europe, and an increase in investment in the healthcare domain by governments in the region
• In Asia Pacific, increase in government support for research & development in the healthcare domain, rise in number of dermatology clinics, and an increase in prevalence of skin diseases propel the market in the region
• Middle East & Africa is expected to account for a relatively minor share of the global market due to less availability of medical facilities and less development in the healthcare domain in the region
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Key Platers of Global Topical Hydrocortisone Market
• Pfizer Inc
• AstraZeneca plc.
• Sun Pharmaceutical Industries Ltd.
• Taro Pharmaceutical Industries Ltd.
• Merck & Co., Inc.
• Actimis Pharmaceuticals
• Siemens Healthcare
• Sanofi
• Novartis International AG
• Eli Lilly and Co.
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