Hydrocortisone Market: Overview
According to the report, the global hydrocortisone market was
valued at ~US$
1 Bn in 2019 and is projected to expand at a CAGR of
~4% from 2020 to 2028.
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. Increase in
incidence of chronic diseases of liver, heart, kidneys, and pancreas; and blood
disorders have augmented the demand for glucocorticoids such as hydrocortisone.
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Rise in Healthcare Spending to
Drive Global Market
Increase in patient awareness about personal health boosts the
demand for vitamin supplements. Patients are more aware and proactive about
their health and are willing to seek a physician's advice at an early stage. Increase
in per capita disposable income is encouraging people to spend more on
healthcare facilities, which in turn fuels the global hydrocortisone market.
Advertisements have increased public visibility of new treatments, thereby
generating interest among chronic patients.
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Adrenocortical Insufficiency to
Remain Key Indication
Based on indication, the global hydrocortisone market has been
divided into adrenocortical insufficiency, adrenergic syndrome, high blood
calcium, thyroiditis, rheumatoid arthritis, dermatitis, asthma and chronic
obstructive pulmonary disease (COPD), and others. Hydrocortisone is the first
line of treatment for the management of adrenocortical insufficiency, thus
contributing to the significant share held by the segment. Adrenogenital disorder
is a genetic condition limiting hormone production in the adrenal glands.
Hydrocortisone is utilized to replace and correct the deficiency of adrenal
hormones.
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Topical Route of Administration to
be Highly Preferred
In terms of route of administration, the global hydrocortisone
market has been classified into parenteral, oral, topical, and rectal. The oral
segment accounted for a major share of the global hydrocortisone market in
2019. This can be attributed to the fact that most products under the
hydrocortisone therapy segment available in the marketplace are administered
orally, due to convenience and better patient compliance with the therapy. The
topical segment is expected to expand at a lucrative pace during the forecast
period. Increase in patient population with skin disorders such as dermatitis
is anticipated to drive the segment during the forecast period.
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North America to Dominate Global
Market
In terms of region, the global hydrocortisone market has been
segmented into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. North America dominated the global hydrocortisone market
in 2019,
followed by Europe. North America dominated the global hydrocortisone market
in 2019.
The region is projected to maintain its dominance and is anticipated to grow at
a CAGR of ~4% during
the forecast period. North America’s dominance in the global market can be
primarily attributed to high rate of adoption of treatment in a number of
indication in the region.
Competition Landscape
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, and Bayer
AG.
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