Prednisolone Market: Introduction
- Prednisolone is a man-made corticosteroid hormone. It prevents the release of substances in the body that cause inflammation and also suppresses the immune system.
- Prednisolone is used as an anti-inflammatory or an immunosuppressant medication
- Prednisolone is a steroid medication used to treat certain types of allergies, inflammatory conditions, autoimmune disorders, and cancers. These conditions include adrenocortical insufficiency, high blood calcium, rheumatoid arthritis, dermatitis, eye inflammation, asthma, and multiple sclerosis. It is ingested through mouth, injection into a vein, as a skin cream, and as eye drops.
- Prednisolone decreases the immune system's response to various diseases to reduce symptoms such as pain, swelling, and allergic-type reactions
Key Drivers and Restraints of Prednisolone Market
- Increase in demand for prednisolone to treat chronic diseases such as arthritis, dermatitis, eye inflammation, asthma allergies, inflammatory conditions, autoimmune disorders, and cancers is expected to boost the global market during the forecast period. Rise in prevalence of skin related diseases and growth in incidence rate of rashes, dermatitis, itching, eczema, and psoriasis are also boosting the prednisolone market. According to the Centers for Disease Control and Prevention, every year in the U.S., at least 2 million people are infected with bacteria that are resistant to antibiotics, and at least 23,000 people die due to such infections.
- Side effects associated with the long-term use of prednisolone is negatively affecting the prednisolone market
Prednisolone Market: Form Segment
- In terms of form, the prednisolone market can be divided into capsule, tablet, injection, syrup, and eye drops
- The capsule segment is expected to dominate the market during the forecast period, as capsules are fast-acting and often more powerful than tablets. It takes a few minutes for a liquid filled capsule to be broken down and get absorbed into the bloodstream.
Prednisolone Market: Application Segment
- Based on application, the prednisolone market can be segmented into skin allergies, rheumatology indications, endocrinology, acute respiratory diseases, and others
- Prednisone is a steroid used to treat inflammatory types of arthritis, such as rheumatoid and psoriatic arthritis, lupus, and polymyalgia rheumatic. Rise in incidence of these diseases is augmenting the demand for prednisolone.
COVID-19 Impact on Global Prednisolone Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The coronavirus pandemic and its resultant lockdown adversely affected all major sectors of the economy, but it has come as a boon to the pharmaceutical sector. Some part of the pharmaceutical business was affected due to supply chain disruptions and decrease in import of active pharmaceutical ingredients from China. However, in general, the COVID-19 pandemic has provided opportunities to the pharmaceutical sector.
- Severe acute respiratory syndrome research studies indicate that prednisone, as an adjunctive therapy, may be beneficial to treat coronaviruses if utilized in the early acute phase of the infection
- The use of prednisone during the treatment of coronaviruses has shown positive outcomes due to its ability to modulate the inflammatory response. This is augmenting the prednisone market.
North America Hold Leading Share of Global Prednisolone Market
- In terms of region, the prednisolone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to hold major share of the global prednisone market, followed by Pacific and Europe, during the forecast period
- North America is expected to dominate the market due to the presence of developed economies, increase in health care expenditure, rise in incidence of lifestyle-related diseases, and high adoption of technologically advanced products in the region. According to the National Cancer Institute statistics, the incidence of cancer in the U.S. increased to 1.8 million in 2019 from 1.73 million in 2018.
- The U.S. dominates the prednisolones market in North America due to increasing skin disorders and prevalence of key players in the region
Key Manufacturers Operating in Global Prednisolone Market
The prednisolone market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the prednisolone market include:
- The Medicines Company
- Theravance Biopharma
- Basilea Pharmaceutica
- Anuh Pharma Ltd.
- Cipla Ltd.
- Avik Pharmaceutical Limited
- Neon Laboratories Limited
- Mankind Pharma Pvt. Ltd.
- Macleods Pharmaceuticals Ltd.
Prednisolone Market: Research Scope
Prednisolone Market, by Form
- Eye Drops
Prednisolone Market, by Application
- Skin Allergies
- Acute Respiratory Diseases
Prednisolone Market, by End-user
- Research Institutes
Global Prednisolone Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.