TOPICAL CORTICOSTEROIDS MARKET ANALYSIS

Regional Analysis

Global Topical Corticosteroids (steroids) Market – Regional Analysis

On the basis of region, the global topical corticosteroids (steroids) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global topical corticosteroids (steroids) market over the forecast period, owing to increasing product launches or approvals by regulatory authorities. For instance, in September 2021, Mayne Pharma, a company focusing on the commercialization of new and generic medications, announced that US Food and Drugs Administration (FDA) has approved LEXETTE (halobetasol propionate) foam, 0.05% for use in adolescents. LEXETTE, a very potent topical corticosteroid, has been approved for the treatment of plaque psoriasis in patients aged 12 and above.

Moreover, due to increasing number of approvals of topical corticosteroid for various indications, Europe is expected to witness a significant growth in the global topical corticosteroids (steroids) market over the forecast period. For instance, in September 2020, European Medicines Agency had announced that it had expanded Olumiant's (baricitinib) indication to include the treatment of moderate to severe atopic dermatitis in adult patients who are eligible for systemic therapy. In the European Union, Olumiant is already approved to treat moderate to severe active rheumatoid arthritis, a disease that causes joint inflammation.  

Figure 2: Global Topical Corticosteroids (steroids) Market Value (US$ Bn), by Region, 2022

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa