LONDON--(BUSINESS WIRE)--The global topical corticosteroids market 2018-2022 is expected to post a CAGR of close to 6% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rise in product launches. Topical corticosteroids have been used for the treatment of atopic dermatitis for many years. Hydrocortisone was the first corticosteroid used for the treatment of atopic dermatitis. Currently, many additional corticosteroid compounds have been licensed for the treatment of atopic dermatitis. Recent product launches are considered an important factor that drives the growth of the global topical corticosteroids market.
This market research report on the global topical corticosteroids market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the preference of customers for topical delivery as one of the key emerging trends in the global topical corticosteroids market:
Global topical corticosteroids market: Preference of customers for topical delivery
Topical delivery is considered the most convenient and preferred treatment option for skin diseases. Most the drugs are systemic therapies, whereas topical drugs are generally targeted therapies. These drugs are delivered to restricted sites such as joints or diseased skin sites.
“Topical drugs are safer for newborn babies and the elderly. They are administered through non-oral routes in a constant fashion by maintaining active levels over extended time. Thus, the increasing preference for topical drug delivery is expected to drive the growth of the global topical corticosteroids market,” says a senior analyst at Technavio for research on infectious and rare diseases.
Global topical corticosteroids market: Segmentation analysis
This market research report segments the global topical corticosteroids market by product (prescription and OTC) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 42%, followed by APAC and EMEA respectively. The region is expected to retain its dominant position during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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