Number of pages: 120 | Report Format: PDF | Published date: 19 November, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global dexamethasone market was pegged at ~US$ 500 million in 2020 and is expected to witness a CAGR of ~6% during the forecast period.
Dexamethasone is a glucocorticoid medication used to treat rheumatic problems, several skin diseases, severe allergies, asthma, chronic obstructive lung disease, croup, brain swelling, eye pain following eye surgery, and along with antibiotics in tuberculosis. Dexamethasone belongs to a class of drugs known as corticosteroids. It decreases the immune system's response to various diseases to reduce symptoms such as swelling and allergic-type reactions.
The global dexamethasone market is mainly driven by the rising prevalence of diseases such as asthma, rheumatoid arthritis, allergic diseases, growing cases of COVID-19, and increasing R&D activities. Furthermore, growing public and private initiatives is also likely to play a pivotal role in contributing to growth of the market globally. However, shortage of drug is likely to restrain market growth to a certain extent.
The global dexamethasone market has been analyzed from four perspectives: Route of Administration, Application, Distribution Channel, and Region.
Dexamethasone Market by Route of Administration
Based on route of administration, the dexamethasone market has been segmented into oral, parenteral, and topical. The oral route of the administration segment dominated the market with the largest share in 2020. The large share of the segment can mainly be attributed to its advantages over other routes of administrations. The oral route of administration is the simplest, most convenient, and safest means of drug administration.
Dexamethasone Market by Application
Based on application, the dexamethasone market has been segmented into asthma, rheumatoid arthritis, COVID-19, ulcerative colitis, and others (skin disorders, allergic disorders, etc.). COVID-19 is expected to be the fastest-growing segment in the forecast period. According to Oxford University researchers, dexamethasone reduced death rates by nearly a third among those COVID-19 patients who required mechanical breathing assistance. After this announcement, the order for the drug increased by more the 600% by hospitals and other healthcare customers.
Dexamethasone Market by End User
Based on end-user, the dexamethasone market has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominated the market with the largest share owing to the high demand for dexamethasone at the hospitals owing to patients visiting the hospitals for treatment of various diseases. Furthermore, increasing hospitalization of patients with severe respiratory complications of COVID-19 is further driving the growth of this end-user segment.
Dexamethasone Market by Region
Based on region, the global dexamethasone market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is expected to be the fastest-growing segment of the dexamethasone market during the forecast period. The growing share of North America in the global market can largely be attributed to increasing healthcare expenditure, growing prevalence of asthma and rheumatoid arthritis in the region, and increasing FDA approval for various dexamethasone formulations for different applications. Moreover, rising demand for the drug owing to its positive results to treat COVID-19 patients is expected to contribute to the market growth in the region.
Some of the prominent players operating in the dexamethasone market includes:-