Albany NY, United States: According to Transparency Market Research’s latest report on the global hydrocortisone market for the historical period 2018–2019 and forecast period 2020–2028, rise in cases of adrenocortical insufficiency and increase in investment in research & development are projected to drive the global hydrocortisone market during the forecast period
Albany NY, United States: According to Transparency Market Research’s latest report on the global hydrocortisone market for the historical period 2018–2019 and forecast period 2020–2028, rise in cases of adrenocortical insufficiency and increase in investment in research & development are projected to drive the global hydrocortisone market during the forecast period
According to the report, the global hydrocortisone market was valued at US$ 1.25 Bn in 2019 and is anticipated to expand at a CAGR of ~4% from 2020 to 2028
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Rise in Cases of Adrenocortical Insufficiency: Key Drivers
- Adrenal insufficiency is a serious pathologic condition characterized by decreased production or action of glucocorticoids and/or mineralocorticoids and adrenal androgens
- Prevalence of chronic primary adrenal insufficiency in Europe has been doubled from 40 to 70 cases per million population in the 1960s to 93 to 144 cases per million population by the end of 2017
- The incidence of the most frequent cause in adults, auto-immune adrenal insufficiency, is estimated at 4.4 to 6.0 per million each year in Europe
- As per data published in the Military Health System article in 2017, incidence rate of adrenal deficiency from 2014 to 2017 was around 6 per 100,000 per year. This incidence was approximately 5 per 100,000 per year during the time period of 2010 to 2013.
- Symptoms of ACTH deficiency most often occur in adults, but the disorder may also be diagnosed in infancy
- However, cortisone or glucocorticoid-induced secondary adrenal insufficiency is the most frequent cause of ACTH insufficiency. The prevalence is almost twice as high as that of primary adrenal deficiency cases, which is around 150 to 280 per million in 2017 and is more common in women than men.
- Thus, rise in prevalence and incidence of ACTH deficiency cases boost the hydrocortisone market
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Increasing Prevalence of Several Acute and Chronic Disorders Worldwide Boost Market Growth
- The number of patients affected with chronic diseases is rising consistently across the world. The root cause of a number of these diseases can be traced to a lack of healthy lifestyle and dietary habits that leads to deficiency of various essential vitamins and minerals. Rise in number of these diseases propels the demand for vitamins and other nutrient supplements.
- Cardiovascular and respiratory diseases have affected a large number of individuals, globally, and are the leading cause of death among the global population. Cardiovascular diseases cause majority of deaths worldwide. According to the World Health Organization (WHO), an estimated 17.9 million people die each year due to cardiovascular disorders (CVD).
- Increase in incidence of chronic diseases of liver, heart, kidneys, and pancreas; and blood disorders, have augmented the demand for glucocorticoids such as hydrocortisone
- Therefore, a rise in the incidence of chronic diseases and an increase in the geriatric population across the globe is fueling the hydrocortisone market
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Side Effects Associated with Hydrocortisone Use to Hamper Market
- Glucocorticoids may sound like miracle drugs, but they do have side effects. Some of them are critical and very damaging. This is why these drugs are not prescribed for long-term use.
- Common side effects of hydrocortisone include diarrhea, nausea, difficulty in sleeping, sweating, and restlessness. Furthermore, these type of drugs generate few serious side effects such as muscle pain, signs of a severe allergic reaction, severe vomiting, and seizures.
Various side effects associated with the use of hydrocortisone may hamper the market growth
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Hydrocortisone Market: Competition Landscape
- This report profiles major players in the global hydrocortisone market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global hydrocortisone market is highly fragmented, with the presence of many multinational and small regional players in the market
The major players operating in the global hydrocortisone market are
- Pfizer, Inc.
- Novartis AG
- Mylan N.V.,
- Hikma Pharmaceuticals Plc
- GlaxoSmithKline plc,
- Cipla Inc.
- Sun Pharmaceutical Industries Ltd.
- Abbott Laboratories
- Bayer AG
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