REPORT OVERVIEW
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The global prednisolone market size was in USD 144.55 million 2021. As per our research, the prednisolone market is expected to reach USD 231.13 million by 2027, exhibiting a CAGR of 8.14% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The prednisolone, a synthetic corticosteroid, finds extensive use in the pharmaceutical sector. Derived from prednisone, it serves as a crucial medication due to its potent anti-inflammatory and immunosuppressive qualities. Structurally, prednisolone mimics the natural corticosteroids produced by the human adrenal glands.
COVID-19 Impact: Increased Demand for Anti-Inflammatory Drugs among Population to Fuel Market Growth
The prednisolone, classified as an anti-inflammatory medication, saw heightened demand during the COVID-19 pandemic due to the occurrence of severe inflammatory reactions in certain patients. This increased demand stemmed from the need to utilize anti-inflammatory drugs like prednisolone in the management of COVID-19 symptoms and related complications.
The pharmaceutical supply chain on a global scale faced disruptions throughout the pandemic, impacting both the manufacturing and distribution of medications, including prednisolone. Consequently, certain regions experienced shortages in the supply of this medication.
LATEST TRENDS
"Growing Demand for Anti-Inflammatory Medications, and Focus on Generic Variants to Fuel Market Growth "
Chronic inflammatory disorders, including conditions like rheumatoid arthritis, inflammatory bowel disease, and asthma, have been experiencing a global upswing. These ailments typically demand ongoing management, often requiring the use of anti-inflammatory medications like prednisolone. The prevalence of these conditions has increased due to a combination of factors, including the aging population and shifting lifestyles. Additionally, autoimmune disorders, characterized by the body's immune system attacking its own tissues, are on the rise. Conditions such as lupus, multiple sclerosis, and psoriasis necessitate the use of anti-inflammatory medications for both symptom control and disease management. The popularity of generic prednisolone has been on the rise due to its cost-effective nature, providing an economical alternative to branded medications. This trend has been propelled by initiatives aimed at lowering healthcare expenditures.
SEGMENTATION
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By Type
Based on Type prednisolone market is classified as Tablets, and Oral Solution.
By Application
Based on Application prednisolone market is classified as Rheumatoid Arthritis, Bell's Palsy, Acute Lymphoblastic Leukemia, Autoimmune Hepatitis, Systemic Lupus Erythematosus, Dermatomyositis, Vasculitis, and Crohn's Disease.
DRIVING FACTORS
"Aging Population to Fuel Market Growth "
As the global population continues to age, the prevalence of age-related health conditions is on the rise, contributing to prednisolone market growth. Many of these conditions, such as osteoarthritis, chronic obstructive pulmonary disease (COPD), and specific cardiovascular diseases, are characterized by inflammation. Consequently, the increasing demand for prednisolone to manage the inflammatory symptoms associated with these health issues is a key driver of market growth.
"Increasing Prevalence of Inflammatory Conditions to Stimulate Market Progress"
In recent times, there has been a consistent rise in the prevalence of chronic inflammatory conditions on a global scale. Ailments like rheumatoid arthritis, inflammatory bowel disease (IBD), and asthma are progressively becoming more widespread. These conditions demand extended-term management, frequently necessitating the use of anti-inflammatory medications like prednisolone to effectively manage symptoms and enhance the quality of life for patients.
RESTRAINING FACTOR
"Side Effects and Safety Concerns to Harm Market Growth "
The prednisolone, similar to other corticosteroids, can lead to various side effects, particularly when used over an extended period. These side effects encompass weight gain, elevated blood pressure, osteoporosis, and heightened vulnerability to infections. Concerns about safety may discourage certain patients and healthcare professionals from considering prednisolone as a viable treatment choice.
REGIONAL INSIGHTS
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"North America Leverages Its Well-Developed Pharmaceutical Sector To Drive Market Share "
North America, with a notable emphasis on the United States, commands a substantial prednisolone market share. The region leverages its well-developed pharmaceutical sector, playing a pivotal role in ensuring the widespread availability and distribution of prednisolone products. The prednisolone market in North America benefits from a considerable market share driven by the elevated prevalence of inflammatory conditions, autoimmune disorders, and allergies. Prescription patterns and the overall market dynamics are profoundly influenced by regulatory standards and healthcare practices that hold a significant share of the market within the region.
KEY INDUSTRY PLAYERS
"Multitude Of Companies That Played A Pivotal Role In Expansion Of Prednisolone"
Within the prednisolone market, numerous influential industry participants operate, encompassing pharmaceutical firms and manufacturers engaged in the manufacturing, distribution, and promotion of prednisolone products. Among these, Teva stands out as a global pharmaceutical company renowned for its extensive portfolio of generic medications, which includes prednisolone offerings.
List of Market Players Profiled
- Shandong Taihua Bio &Tech (China)
- Mahima life Sciences (India)
- Sanofi (France)
- Wuhan DKY Technology (China)
- Xianju Pharma (China)
REPORT COVERAGE
The future demand for the prednisolone market is covered in this study. The Research report includes the Impact of Increased Demand for Anti-Inflammatory Drugs due to the Covid-19 Impact. The report covers the latest trends in Growing Demand for Anti-Inflammatory Medications. The paper includes a segmentation of the prednisolone market. The research paper includes the driving factors that are Aging Population to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for prednisolone.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 144.55 Million in 2021 |
Market Size Value By |
US$ 231.13 Million by 2027 |
Growth Rate |
CAGR of 8.14% from 2021 to 2027 |
Forecast Period |
2021-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global prednisolone market expected to touch by 2027?
The global prednisolone market size is expected to reach USD 231.13 million by 2027.
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What CAGR is the global prednisolone market expected to exhibit by 2027?
The global prednisolone market is expected to exhibit a CAGR of 8.14% by 2027.
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Which are the driving factors of the Prednisolone market?
The driving factors of the Prednisolone market are Aging Population, and Increasing Prevalence of Inflammatory Conditions.
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Which are the key players or most dominating companies functioning in the Prednisolone market?
Shandong Taihua Bio &Tech, Mahima life Sciences, Sanofi, Wuhan DKY Technology, and Xianju Pharma are the key players or most dominating companies functioning in the Prednisolone market.
