Topical Corticosteroids Market Revenue, Company Growing Demand and Regional Outlook Up To 2027

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Topical Corticosteroids Market
Topical Corticosteroids Market

Topical corticosteroids are a class of medications that are commonly used to treat skin inflammation and other related conditions. These medications are available in various forms such as creams, ointments, lotions, gels, and solutions. Topical corticosteroids work by reducing inflammation and swelling in the affected areas of the skin, thus providing relief to patients suffering from skin-related ailments. The global Topical Corticosteroids Market is expected to grow significantly over the next few years, owing to the growing demand for these medications.

Market Revenue and Forecast

The global Topical Corticosteroids Market is expected to reach a value of USD 4,821.2 million by 2023, growing at a CAGR of 5.8% during the forecast period (2017-2023).

The growing prevalence of skin diseases such as eczema, psoriasis, and dermatitis, coupled with the increasing geriatric population, is driving the demand for topical corticosteroids. Moreover, the availability of several types of topical corticosteroids and the increasing awareness about their benefits are expected to drive market growth during the forecast period.

Company Growing Demand

The topical corticosteroids for market is highly competitive, with several major players operating in the industry. These companies are focused on expanding their product portfolios and strengthening their presence in the global market. Some of the leading companies in the topical corticosteroids for market include Pfizer Inc., Novartis AG, Merck & Co. Inc., GlaxoSmithKline Plc., Sanofi S.A., and others.

The global topical corticosteroids for market, with a wide range of products such as Eucrisa, which is used to treat eczema. The company is focused on expanding its product portfolio and strengthening its presence in the market. In 2018, Pfizer Inc. acquired Array BioPharma, a biopharmaceutical company that specializes in the development of cancer treatments. The acquisition is expected to enhance Pfizer’s oncology portfolio and strengthen its position in the global market.

Novartis AG is another major player in the global Topical Corticosteroids Market, with a range of products such as Elidel and Xolair. The company is focused on expanding its product portfolio and increasing its market share in the global market. In 2018, Novartis AG acquired AveXis, a gene therapy company, for USD 8.7 billion. The acquisition is expected to strengthen Novartis’ position in the gene therapy market and enhance its product portfolio.

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