Hydrocortisone
Market, by Product Type (Injection, Cream/Ointment, Tablet, and Others), By
Indication (Adrenocortical Insufficiency, Allergic Conditions, Arthritis,
COPD/Asthma, Cancer, and Others), by Distribution Channel (Hospitals Pharmacy,
Retail Pharmacy, Online Pharmacy), and by Geography (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook,
and Opportunity Analysis, 2018 – 2026
Hydrocortisone is the medical
name of hormone, corticosteroid. Naturally corticosteroid is made by adrenal
gland inside adrenal cortex. Medicinally, hydrocortisone is used in various
conditions such as allergic reactions (itching, swelling, redness), arthritis,
neurological conditions (multiple sclerosis), lupus, certain type of cancers
(leukemia, lymphoma, and multiple myeloma) and nausea and vomiting associated
with some chemotherapy drugs, to treat low hydrocortisone levels caused due to
Addison’s disease, adrenocortical insufficiency, and different thyroid related
complications.
Hydrocortisone Market - Market
Dynamics
One of the major driver for
growth of the hydrocortisone market is increasing incidence of disease such as
cancer, allergic reactions, arthritis, thyroid disease, and others.
International Agency for Research on Cancer in September 2018, released report
titled GLOBOSCAN, which estimated latest data on cancer.
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According to the report, there
were 18.1 million new cancer cases and 9.6 million cancer deaths in 2018,
worldwide. One out of five men and one out of six women worldwide develop
cancer during their lifetime, and one out of eight men and one out of 11 women
die from the disease. Worldwide, the total number of people who are alive
within 5 years of a cancer diagnosis, called the 5-year prevalence, is
estimated to be 43.8 million.
However, several side effects
associated with the use of hydrocortisone may inhibit the market growth. For
instance, there is high chance of infection while utilizing hydrocortisone for
reducing inflammation (swelling) in cancer patients as it prevents white blood
cells from entering into site of inflammation which in turn may compromise
ability to produce immune response in patients’ body after infection incidence.
Hydrocortisone Market - Regional
Insights
On the basis of geography,
hydrocortisone market is segmented into North America, Latin America, Europe,
Asia Pacific, Middle East, and Africa. North America is expected to be dominant
region in the hydrocortisone market during forecast period. This is owing to the
fact that U.S. has highly valued healthcare spending for various disease
including cancer, COPS/asthma, arthritis and allergic reactions. OECD data in
2016 suggests that U.S. has per capita healthcare expenditure of US$ 8,000.
According to factsheet by Asthma and Allergy Foundation of America, there are
more than 50 million U.S. citizens affected by the various types of allergies
each year and it is 6th leading cause of chronic illness in the U.S.
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According to same source, in
2015, 8.2% of adults and 8.4% of children were diagnosed with hay fever. Asia
Pacific region is expected to witness high growth over the forecast period.
This is due to increasing number of deaths due to cancer in the region. According to data given by International
Agency for Cancer Research in 2018, the proportions of cancer deaths in Asia
and in Africa is 57.3% and 7.3%, respectively.
Hydrocortisone Market -
Competitive Landscape
Key players operating in the
hydrocortisone market are AstraZeneca plc, GlaxoSmithKline plc, Merck & Co.
Inc., Pfizer Inc., Sandoz AG (Novartis AG), Sanofi S.A, Actimis
Pharmaceuticals, and others.
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