New York, NY -- (SBWire) -- 10/14/2020 --Latest research findings from Market Industry Reports (MIR) report titled "Dexamethasone Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030." suggests that the global dexamethasone market is expected to witness substantial CAGR from 2020 to 2030.
The market growth can be attributed to several factors, which has led to its wide-scale adoption. Growing prevalence of asthma & allergic diseases and increasing demand of dexamethasone drug worldwide for the treatment of COVID-19 are anticipated to fuel the demand of dexamethasone in the coming years. However, issues with quality control and possibility of shortage of drug are likely to restrain the market growth to a certain extent.
Dexamethasone Market Prominent Players
Some of the prominent players operating in the dexamethasone market include Allergan, Ocular Therapeutix, Inc., Zydus Cadila, Cadila Pharmaceuticals, Fresenius Kabi USA, GLS pharma ltd, Pfizer Limited, Novartis AG, Mylan N.V. Sun Pharmaceutical Industries Ltd., among others.
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Growth Factor:
Citing the promising prospects of the market, government bodies and organizations across the globe are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, in July 2020, The U.N. Children's Fund (UNICEF) proposed negotiation for the advance purchase of dexamethasone for up to 4.5 million people in low & middle-income countries under the deal led by UNITAID and Wellcome. According to a joint statement from both agencies, the deal is part of the World Health Organization (WHO)'s plan to accelerate access to therapeutics in the battle against the global pandemic.
Around 10%–30% of the world population suffers from seasonal allergies and asthma. According to American College of Allergy, Asthma & Immunology (ACAAI), allergies are the 6th leading cause of chronic illness in the U.S and more than 50 million Americans suffer from allergies each year. Moreover, asthma affects more than 24 million people in the U.S., including more than 6 million children. Incessantly rising prevalence of asthma & allergic diseases is expected to boost the growth of the market.
Dexamethasone has been identified as a "Major Breakthrough" and a possible treatment for COVID-19. A U.K based trial investigating potential Covid-19 treatments illustrated that dexamethasone can be lifesaving for patients who are critically ill and can also reduce death rates. This has led to precipitous demand of dexamethasone as a preventive measure against COVID-19. Government bodies across the globe are adopting several initiatives/strategies to fast-track the development of such products & therapies by providing the necessary funding, grants, permissions, clearances & approvals to meet the needs of the healthcare sector. For instance, in Jun 2020, the U.K government granted world-first approval to dexamethasone for COVID-19 application, hours after groundbreaking data released showcased that dexamethasone can reduce COVID-19 deaths among hospitalized patients requiring oxygen.
However, quality issues in supply chain are one of the major factors hampering the market growth. For instance, Cadila Healthcare a major Indian manufacturer of intravenous dexamethasone has repeatedly landed in trouble with the U.S. Food and Drug Administration (FDA) for serious problems in its production process. According to a letter from the agency, the company said in October 2019 that it would stop producing injectable drugs for the United States. Furthermore, shortage of the product is also expected to hamper the growth of market to certain extent. According to an independent shortage tracking tool run by the American Society of Health-System Pharmacists, intravenous dexamethasone was already in short supply in the U.S. before the recovery results came out. FDA has also listed the drug as "In Shortage".
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Segmentation Based On:
By Route of Administration:
1.Oral,
2.Parenteral and Topical
By Application
1.Asthma,
2.Rheumatoid Arthritis,
3.Skin Disorders,
4.COVID-19, Allergic Disorder and Ulcerative Colitis
By Distribution Channel
1.Hospital Pharmacy,
2.Retail Pharmacy and Online Pharmacy
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for dexamethasone and is anticipated to contribute significantly to the global market share. The growth in this region can be mainly attributed to the presence of prominent players that manufactures and exports dexamethasone active pharmaceutical ingredients (APIs) and formulations. In the year 2019-2020, India exported 5.35 lakh tonnes of dexamethasone worth $15.34 million to over 107 countries. The top five destinations were the U.S. ($5.17 million), Nigeria ($ 1.88 million), Canada ($1.02 million), Russian Federation ($0.92 million) and Uganda ($0.91 million). These top 5 countries account for over 64.54% of the total dexamethasone export from India.
Table of Contents
1. INTRODUCTION
1. Market Definition
2. Market Ecosystem
1. Market Classification
2. Geographic Scope
3. Years Considered for the Study
1. Historical Years – 2016 & 2017
2. Base Year – 2018
3. Forecasted Years – 2019 to 2030
3. Currency Used for the Study
4. Report Beneficiary List
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Methodology
1. Bottoms Up Approach
2. Top Down Approach
5. Data Validation and Triangulation
1. Market Forecasting Model
2. Limitations of the Study
3. Assumptions of the Study
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESMENT
1. Overview
2. Drivers
3. Barriers/Challenges
4. Opportunities
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In the end, Dexamethasone Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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Dexamethasone Market: In-Depth Analysis,Market Share, Current Trends, Competition Dashboard, Market Size, Growth Rates and Forecasts, 2020 – 2026
Dexamethasone is basically a steroid that is used to treat different conditions including immune system, hormone, arthritis, blood, hormone, allergic reaction, eye condition, and certain skin conditions as well. It is also used to treat the bowel disorders, breathing issues, and few cancers. The said steroid is applied as a test for Cushing’s syndrome (adrenal gland disorder). This type of medication is a corticosteroid hormone, which decreases the body’s natural defensive response and also decreases the symptoms like allergic-related reaction and swelling. Using dexamethasone is usually recommended to be consumed through mouth (orally) or as directed by the patient’s physician.