Wilmington, Delaware, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Triamcinolone Market by Type (Cream, Injection and Inhalers), Application (Eczema, Dermatitis, Allergies, Psoriasis and Others), and Distribution Channel (Drug Stores, Hospitals Pharmacies and Online Pharmacies) : Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the triamcinolone market was valued at $0.9 billion in 2023, and is estimated to reach $1.3 billion by 2033, growing at a CAGR of 3.8% from 2024 to 2033.
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Prime determinants of growth
The key factors driving the growth of global triamcinolone market are broad therapeutic applications of triamcinolone, rise in geriatric population, and advancements in drug formulations. Triamcinolone is extensively used in dermatology to treat inflammatory skin conditions like eczema, psoriasis, and dermatitis, where its anti-inflammatory properties help reduce redness, swelling, and itching. In rheumatology, triamcinolone is a common medication for managing arthritis, particularly rheumatoid arthritis and osteoarthritis, providing relief from joint pain and inflammation. Doctors frequently prescribe triamcinolone for allergic reactions, including allergic rhinitis and severe allergies, due to its ability to suppress immune responses and mitigate symptoms. Pulmonologists utilize its inhaler forms to control asthma and other respiratory conditions by reducing airway inflammation. Additionally, ophthalmologists rely on Triamcinolone for treating eye inflammation and certain vision-threatening conditions such as uveitis. Its injectable form is often used in orthopedic settings for conditions like bursitis and tendinitis, offering localized pain relief and reducing inflammation.
The rise in the geriatric population is a major driver for the triamcinolone market, as aging individuals are more prone to chronic and degenerative conditions that necessitate effective management. As people age, they commonly experience an increase in musculoskeletal issues such as osteoarthritis and rheumatoid arthritis, which cause significant pain and inflammation. Triamcinolone, particularly in its injectable form, is frequently used to alleviate these symptoms, improving mobility and quality of life for elderly patients. Additionally, older adults often suffer from various dermatological conditions like eczema and psoriasis, as well as respiratory issues such as chronic obstructive pulmonary disease (COPD) and asthma. The anti-inflammatory and immunosuppressive properties of triamcinolone make it a valuable treatment for these conditions, reducing symptoms and preventing exacerbations. Furthermore, the aging population is more susceptible to severe allergic reactions and eye conditions such as uveitis and macular edema, where Triamcinolone can play a crucial therapeutic role.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2023–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $0.9 billion |
| Market Size in 2033 | $1.3 billion |
| CAGR | 3.8% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Application, Distribution Channel, and Region. |
| Drivers |
|
| Opportunities | Rise in research and devlopment and new product development activities. |
| Restraint | Side Effects and Long-term Use Risks. |
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Segment Highlights
The cream segment dominated market share in 2023
By type, cream segment dominated the market share in 2023, owing to convenient, non-invasive method of application, making cream highly accessible and user-friendly for patients. Triamcinolone creams are highly effective in treating a wide range of dermatological conditions, such as eczema, psoriasis, dermatitis, and allergic skin reactions.
Eczema segment is expected to register fastest growth during the forecast period
By application, Eczema segment dominated the market share in 2023. Eczema, or atopic dermatitis, affects a significant portion of the global population, including both children and adults, driving consistent demand for effective treatments. Triamcinolone is widely recognized for its efficacy in managing eczema symptoms, such as inflammation, itching, and redness, providing substantial relief to patients. The chronic nature of eczema often requires long-term management, leading to sustained and repeat use of Triamcinolone products.
Drug Store segment is expected to register fastest growth during the forecast period
By distribution channel, the drug store segment dominated market share in 2023. Drug stores are highly accessible to the general population, providing a convenient and immediate point of purchase for triamcinolone products.
Regional Outlook
In North America, particularly the United States, the market is robust due to high prevalence of chronic diseases such as arthritis, asthma, and dermatological conditions. The advanced healthcare infrastructure, significant healthcare expenditure, and widespread availability of Triamcinolone in various forms contribute to its strong market presence in this region. Europe also shows substantial market growth, driven by a well-established healthcare system and increasing incidence of autoimmune and inflammatory diseases. Countries like Germany, France, and the UK are key markets within Europe, benefiting from high levels of healthcare access and a growing aging population.
In the Asia-Pacific region, the Triamcinolone market is experiencing rapid expansion. This growth is fueled by increasing healthcare awareness, rising prevalence of chronic conditions, and improving healthcare infrastructure in countries like China, India, and Japan. The large population base and growing middle class in these countries also drive demand for effective and accessible treatments like Triamcinolone. Additionally, the region's growing pharmaceutical industry and investment in healthcare are significant contributors to market growth.
Key Players
- Akorn Inc.
- Bristol Myers Squibb Company
- Cosette Pharmaceuticals, Inc.
- Glenmark Pharmaceuticals
- Lupin Limited
- Mylan N.V.
- Novartis AG
- Sun Pharmaceutical Industries Limited
- Taro Pharmaceutical Industries
- Teva Pharmaceuticals
The report provides a detailed analysis of these key players in the global triamcinolone market. These players have adopted different strategies such as product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development
- In March 2021, Alembic Pharmaceuticals Ltd announced that it has received U.S. FDA approval, for its generic version of Nystatin and Triamcinolone Acetonide ointment used for the treatment of cutaneous candidiasis. The approval by the US Food & Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) for Nystatin and Triamcinolone Acetonide Ointment of strength 100, 000 units/gram, Alembic Pharmaceuticals said in a regulatory filing.
- In October 2021, Bausch + Lomb and Clearside Biomedical, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved XIPERE (triamcinolone acetonide injectable suspension) for suprachoroidal use for the treatment of macular edema associated with uveitis, a form of eye inflammation.
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