Global Prednisolone Market Revenue Expected to Surge by 2031
- Prednisolone is a man-made corticosteroid hormone. It prevents the release of substances in the body that cause inflammation and also suppresses the immune system.
- Prednisolone is used as an anti-inflammatory or an immunosuppressant medication
- Prednisolone is a steroid medication used to treat certain types of allergies, inflammatory conditions, autoimmune disorders, and cancers. These conditions include adrenocortical insufficiency, high blood calcium, rheumatoid arthritis, dermatitis, eye inflammation, asthma, and multiple sclerosis. It is ingested through mouth, injection into a vein, as a skin cream, and as eye drops.
- Prednisolone decreases the immune system’s response to various diseases to reduce symptoms such as pain, swelling, and allergic-type reactions
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Key Drivers and Restraints of Prednisolone Market
- Increase in demand for prednisolone to treat chronic diseases such as arthritis, dermatitis, eye inflammation, asthma allergies, inflammatory conditions, autoimmune disorders, and cancers is expected to boost the global market during the forecast period. Rise in prevalence of skin related diseases and growth in incidence rate of rashes, dermatitis, itching, eczema, and psoriasis are also boosting the prednisolone market. According to the Centers for Disease Control and Prevention, every year in the U.S., at least 2 million people are infected with bacteria that are resistant to antibiotics, and at least 23,000 people die due to such infections.
- Side effects associated with the long-term use of prednisolone is negatively affecting the prednisolone market
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Prednisolone Market: Form Segment
- In terms of form, the prednisolone market can be divided into capsule, tablet, injection, syrup, and eye drops
- The capsule segment is expected to dominate the market during the forecast period, as capsules are fast-acting and often more powerful than tablets. It takes a few minutes for a liquid filled capsule to be broken down and get absorbed into the bloodstream.
Prednisolone Market: Application Segment
- Based on application, the prednisolone market can be segmented into skin allergies, rheumatology indications, endocrinology, acute respiratory diseases, and others
- Prednisone is a steroid used to treat inflammatory types of arthritis, such as rheumatoid and psoriatic arthritis, lupus, and polymyalgia rheumatic. Rise in incidence of these diseases is augmenting the demand for prednisolone.
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COVID-19 Impact on Global Prednisolone Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The coronavirus pandemic and its resultant lockdown adversely affected all major sectors of the economy, but it has come as a boon to the pharmaceutical sector. Some part of the pharmaceutical business was affected due to supply chain disruptions and decrease in import of active pharmaceutical ingredients from China. However, in general, the COVID-19 pandemic has provided opportunities to the pharmaceutical sector.
- Severe acute respiratory syndrome research studies indicate that prednisone, as an adjunctive therapy, may be beneficial to treat coronaviruses if utilized in the early acute phase of the infection
- The use of prednisone during the treatment of coronaviruses has shown positive outcomes due to its ability to modulate the inflammatory response. This is augmenting the prednisone market.
North America Hold Leading Share of Global Prednisolone Market
- In terms of region, the prednisolone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to hold major share of the global prednisone market, followed by Pacific and Europe, during the forecast period
- North America is expected to dominate the market due to the presence of developed economies, increase in health care expenditure, rise in incidence of lifestyle-related diseases, and high adoption of technologically advanced products in the region. According to the National Cancer Institute statistics, the incidence of cancer in the U.S. increased to 1.8 million in 2019 from 1.73 million in 2018.
- The U.S. dominates the prednisolones market in North America due to increasing skin disorders and prevalence of key players in the region
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