Corticosteroids Market Size - By Product (Glucocorticoids, Mineralocorticoids), Route of Administration (Topical, Injectable, Oral, Inhaled), Application (Skin Allergies, Rheumatology Indications), Distribution Channel & Forecast, 2024 - 2032

Corticosteroids Market Size - By Product (Glucocorticoids, Mineralocorticoids), Route of Administration (Topical, Injectable, Oral, Inhaled), Application (Skin Allergies, Rheumatology Indications), Distribution Channel & Forecast, 2024 - 2032

Global corticosteroids market size is anticipated to witness 7.5% CAGR from 2024 to 2032, due to the increasing prevalence of chronic ailments, such as asthma, rheumatoid arthritis, and inflammatory bowel diseases. Corticosteroids are widely prescribed for their anti-inflammatory and immunosuppressive properties, making them indispensable in the management of these conditions. Moreover, the growing geriatric population, coupled with lifestyle changes and environmental factors are further contributing to the escalating demand for corticosteroid-based therapies. As per the WHO stats, the population of 60 years and older will reach 22% by 2050.

The corticosteroids market is classified based on product, route of administration, application, distribution channel, and region.

By product, the industry size from the mineralocorticoids product segment may record 6.8% CAGR till 2032 owing to its pivotal role in regulating electrolyte balance and fluid volume in the body. Mineralocorticoids, such as aldosterone play a crucial role in maintaining blood pressure and sodium-potassium balance, making them indispensable in the treatment of conditions like Addison's disease and congenital adrenal hyperplasia. With the increasing prevalence of adrenal insufficiency and related disorders, the demand for mineralocorticoids is projected to surge in the coming years.

In terms of application, the corticosteroids industry from the endocrinology segment is predicted to witness 7.6% CAGR from 2024 to 2032. Corticosteroids find widespread application in the management of hormonal disorders, including adrenal insufficiency, Cushing's syndrome, and congenital adrenal hyperplasia. These synthetic hormones mimic the action of cortisol, the body's natural stress hormone, and are instrumental in restoring hormonal balance and alleviating symptoms associated with endocrine disorders. As research continues to unravel the complexities of endocrine diseases, the adoption of corticosteroid-based therapies is expected to witness a steady rise.

Regionally, the Europe corticosteroids market size will expand at 7.4% CAGR through 2032, attributed to the presence of a well-established healthcare infrastructure, high healthcare expenditure, and increasing awareness regarding the benefits of corticosteroid therapy. Moreover, the rising prevalence of chronic respiratory diseases and autoimmune disorders is necessitating the use of corticosteroids for effective disease management. Additionally, strategic initiatives undertaken by key market players to expand their presence in European countries are further augmenting market growth.