Topical steroids, also known as topical corticosteroids, are drugs that are applied directly to the skin to alleviate skin inflammation and irritation. They are available in a number of strengths such as Class I, II, III topical steroids, etc. and forms, such as creams or ointments, and can be prescribed or purchased over-the-counter (OTC).
Topical steroids aid by decreasing inflammation in the skin. Inflammation indicates an immunological response. The treatment is applied to an affected area of skin to assist in alleviation of symptoms such as rashes, scaly patches, itching, soreness, redness, or swelling.
Global Topical Corticosteroids (steroids) Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 524 million cases and 6.28 million deaths due to coronavirus disease (COVID-19) were reported till May 26, 2022, across the globe.
Impact of COVID-19 on Demand and Supply of Topical Corticosteroids
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting production and demand of drugs; 2) by creating disruptions in distribution channels; and 3) financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.
There was a strong impact on topical corticosteroids market during COVID-19 pandemic, owing to increasing COVID-19 associated surge of atopic dermatitis leading to increase in use of topical corticosteroids. For instance, a survey conducted in Hubei (China) and published in the Journal of the American Academy of Dermatology in March 2020 found that 97 % of hospital staff experienced skin trauma as a result of constant COVID-19 infection-prevention methods. Moreover, in May 2020, a research published in the British Medical Journal reported an upsurge in incidents of skin injuries among healthcare personnel in the UK.
Global topical corticosteroids (steroids) market is estimated to be valued at US$ 4.12 Bn in 2022, and is expected to exhibit a CAGR of 4.36 % over the forecast period (2022-2030).
Figure 1: Global Topical Corticosteroids (steroids) Market Share (%) Analysis, By Formulation, 2022
Increasing number of cases of eczema and atopic dermatitis is the major factor that is expected to drive growth of global topical corticosteroids (steroids) market over the forecast period.
Increasing number of eczema & atopic dermatitis is expected to drive growth of the global topical corticosteroids (steroids) market. For instance, according to the Allergy & Asthma Network, around 31.6 million people in the U.S. had eczema in 2020, with 15% of children and 7.3 % adults having atopic dermatitis
Research and Development Activities
Increasing number of research and development activities related to topical corticosteroids by market players is expected to aid in growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in April 2022, Eli Lilly and Company, a global healthcare company, announced that Lebrikizumab, an IL-13 inhibitor, significantly improved disease severity when combined with topical corticosteroids (TCS) in people with moderate-to-severe atopic dermatitis (AD) in third pivotal Phase 3 trial (ADhere).
|Base Year:||2021||Market Size in 2019:||US$ 4.12 Bn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||4.36%||2030 Value Projection:||US$ 5.80 Bn|
GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA
Global Topical Corticosteroids (steroids) Market – Regional Analysis
On the basis of region, the global topical corticosteroids (steroids) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global topical corticosteroids (steroids) market over the forecast period, owing to increasing product launches or approvals by regulatory authorities. For instance, in September 2021, Mayne Pharma, a company focusing on the commercialization of new and generic medications, announced that US Food and Drugs Administration (FDA) has approved LEXETTE (halobetasol propionate) foam, 0.05% for use in adolescents. LEXETTE, a very potent topical corticosteroid, has been approved for the treatment of plaque psoriasis in patients aged 12 and above.
Moreover, due to increasing number of approvals of topical corticosteroid for various indications, Europe is expected to witness a significant growth in the global topical corticosteroids (steroids) market over the forecast period. For instance, in September 2020, European Medicines Agency had announced that it had expanded Olumiant's (baricitinib) indication to include the treatment of moderate to severe atopic dermatitis in adult patients who are eligible for systemic therapy. In the European Union, Olumiant is already approved to treat moderate to severe active rheumatoid arthritis, a disease that causes joint inflammation.
Figure 2: Global Topical Corticosteroids (steroids) Market Value (US$ Bn), by Region, 2022
Global Topical Corticosteroids (steroids) Market – Competitive Landscape
Major players operating in the global topical corticosteroids (steroids) market include GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA
Topical steroids are available in a variety of strengths and are classified into seven classes based on their potency. Class I (class one) contains the strongest steroids, while Class VII contains the weakest (class seven).
Topical steroids in Class I are 600 to 1,000 times more powerful than those in Class VII. The right steroid strength, or potency, is determined by a number of factors.
Babies, for example, absorb topical steroids much faster than adults, so a low-potency steroid may be required.
Topical steroids are absorbed quickly in parts of the body where skin touches flesh, such as the armpits or beneath the breasts, or in sensitive areas of skin, such as the eyelids, and may only require a low-potency formulation.
Market players are focused on launching generic products, this is expected to contribute to growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in March 2019, Lupin Limited, an Indian pharmaceutical company announced the launch of Fluocinonide Ointment USP, 0.05 %, which was approved by the US Food and Drug Administration (FDA) in July 2018. Lupin's Fluocinonide Ointment USP, 0.05% is the generic equivalent of County Line Pharmaceuticals LLC's Lidex Ointment 0.05%. It is used to treat inflammatory and pruritic symptoms associated with corticosteroid-responsive dermatoses.
Market players are involved in strategies such as acquisitions, which is expected to contribute to growth of global topical corticosteroids (steroids) market. For instance, in October 2018, Mayne Pharma, a specialty pharmaceutical company, announced that it has acquired the US and Australia rights to halobetasol foam 0.05% for US$32.0 million. Halobetasol foam is a highly potent corticosteroid that is used to treat plaque psoriasis.
Increasing initiatives by non-profit organizations for better treatment of eczema is expected to aid growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in September 2021, on world eczema day (September 14), eleven patient organizations from eight countries came together to launch the Global Patient Initiative to Improve Eczema Care (GPIIEC). The programme is a global effort to develop a uniform "yardstick" for evaluating how well health systems respond to demands of patients and their caregivers. This groundbreaking collaboration has discovered aspects of health-care delivery that matter most to patients and caregivers, as well as indicators to assess them across eight developed countries (Australia, Canada, Denmark, France, Italy, Germany, United States, and the United Kingdom).
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.