Fort Collins, Colorado, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the dexamethasone market size was valued at USD 754.1 Million in 2022 to reach USD 1393.0 Million by 2032 at a CAGR of 6.4%.
Dexamethasone is a corticosteroid that treats various inflammatory conditions such as allergies, skin issues, ulcerative colitis, arthritis, and asthma. It also helps relieve chemotherapy-induced nausea and vomiting and treats spinal cord compression in cancer patients. The increasing incidence of skin allergies, asthma, and cancer drives the demand for dexamethasone.
The demand for dexamethasone has significantly increased due to its potential as a COVID-19 therapy. Factors driving the market growth include the rising prevalence of disorders like hyperglycemia, glaucoma, cataracts, osteoporosis, and asthma, as well as increasing cases of cancer worldwide. The availability of dexamethasone as a generic drug is another contributing factor.
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Pharmaceutical companies can invest in developing dexamethasone formulations for various applications such as tablets, injections, eye drops, intraocular suspension, etc. Increased usage of dexamethasone for treating certain types of cancer creates opportunities to produce dexamethasone formulations.
Segmentation Overview:
The global dexamethasone market has been segmented into formulation, patient, application, and region. The tablet form of dexamethasone was the most popular due to its stability and ease of use. It was also widely used to treat COVID-19. The demand for dexamethasone was driven by adult patients, particularly those with asthma and cancer.
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Dexamethasone Market Report Highlights:
- The global dexamethasone market growth is anticipated at a CAGR of 6.4% by 2032.
- The global dexamethasone market is growing due to its increased use as a lifesaving therapy for severely ill COVID-19 patients.
- North America had the highest market share, with the prevalence of asthma and the presence of pharmaceutical companies contributing to the market's growth.
- Some prominent players in the dexamethasone market report include Novartis AG, Pfizer Inc, Cadila Pharmaceuticals, Sun Pharmaceutical Industries Ltd, Allergan, Zydus Cadila, Fresenius Kabi USA, GLS pharma ltd, Hikma Pharmaceuticals Plc, Ocular Therapeutix, Inc, Mapro Lifescience, Therawin Formulations, Symbiotic Pharma, AuroMedics Pharma LLC., Mylan N.V., Somerset Therapeutics, Schwitz Biotech, Shervotoc Pharmaceuticals, AdvaCare Pharma.
Industry Trends and Insights:
- CanariaBio CEO Michael Na expressed excitement about partnering with Hikma, a company known for successful collaborations in the MENA region.
- Glenmark Pharma has sold a 75% stake in its subsidiary, Glenmark Life Sciences Limited, for INR 56,515 mn to Nirma Limited. The transaction is subject to regulatory and shareholder approvals.
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Dexamethasone Market Segmentation:
- By Formulation: Liquid, tablet, Solution for Injection, others
- By Patient Type: Pediatric, adult, geriatric
- By Application: Anti-inflammatory and immunosuppressant effects, respiratory distress syndrome, COVID-19
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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