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Increasing Application of Betamethasone for Different Ailments Like Rheumatic Disorders is Projected To Drive The Growth Of Betamethasone Ointment Market
HYDERABAD, TELANGANA, INDIA, November 9, 2022 / / -- size is estimated to reach $1.6 billion by 2027, growing at a CAGR of 4.5% during the forecast period 2022-2027. Betamethasone is a member of the group of medications termed steroids. It is utilized in the treatment of inflammation, serious allergies, outbreaks of continuing sicknesses. It is also utilized to treat multiple additional medical issues that need either minimization of inflammation or override of the immune system. Betamethasone has an extensive assortment of medical indications: from the typical inflammation of the skin to the treatment of severe autoimmune ailments like systemic lupus erythematosus. The dose, route of administration, and period of treatment will rely on every case in specific. Betamethasone is a steroid medicine. It is utilized for a number of ailments inclusive of rheumatic disorders like rheumatic arthritis and systemic lupus erythematosus and skin ailments like dermatitis and psoriasis among others. It may be consumed by mouth, injected into a muscle, or used on the skin topically in cream, lotion, or liquid forms. Betamethasone dipropionate ointment includes betamethasone dipropionate USP, a synthetic adrenocorticosteroid, for dermatologic application. The soaring occurrences of skin conditions like psoriasis or eczema and plaque psoriasis requiring betamethasone dipropionate is set to drive the Betamethasone Ointment Market.
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Key Takeaways
Geographically, the North American Betamethasone Ointment Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of skin ailments and rheumatic disorders in the North American region.
Betamethasone Ointment Market growth is being driven by the surging application of betamethasone in ointments, tablet drops, or injectables solely utilized for medical reasons alleviating symptoms like itching and redness, dermatological conditions, or treatment of rheumatic disorders and cancer. However, certain side effects of betamethasone are soaring blood pressure, itching, muscle weakness and pain, loss of muscle mass, and osteoporosis, and these side effects constitute one of the major factors hampering the growth of the Betamethasone Ointment Market.
Betamethasone Ointment Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Betamethasone Ointment Market report.
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Betamethasone Ointment Market Segment Analysis – By Type: The Betamethasone Ointment Market based on type can be further segmented into Betamethasone Dipropionate, Betamethasone Sodium Phosphate, and Betamethasone Valerate. The Betamethasone Dipropionate Segment held the largest market share in 2021. This growth is owing to the surging application of Betamethasone Dipropionate ointment which is a highly effective corticosteroid designated for alleviation of the inflammatory and pruritic demonstrations of corticosteroid-responsive dermatoses in patients aged 13 years and more. Furthermore, the Betamethasone Valerate segment is estimated to grow with the fastest CAGR of 5.3% during the forecast period 2022-2027 owing to the heightening application of Betamethasone Valerate in Atopic dermatitis (including infantile atopic dermatitis), Nummular dermatitis (discoid eczema), Psoriasis (excluding widespread plaque psoriasis), and more ailments apart from Betamethasone Dipropionate discussed above.
Betamethasone Ointment Market Segment Analysis – By Product: The Betamethasone Ointment Market based on the product can be further segmented into Topical and Injectable. The Injectable Segment held the largest market share in 2021. This growth is owing to the surging application of betamethasone injection to curb serious allergic reactions, abrupt episodes of serious arthritis, and unexpected outbreaks of multiple sclerosis. Betamethasone Dipropionate is available as injectable. The proliferating application of betamethasone injection for adrenal gland issues, blood issues, skin rashes, or swelling issues is further propelling the growth of this segment. Furthermore, the Topical segment is estimated to grow with the fastest CAGR of 5.1% during the forecast period 2022-2027 owing to the soaring application of Betamethasone topical in the form of cream, ointment, lotion, gel, spray, or foam for the skin utilized to treat the inflammation and itching brought about by ailments like eczema or psoriasis including the heightening utilization of Betamethasone Dipropionate ointment.
Betamethasone Ointment Market Segment Analysis – By Geography: The Betamethasone Ointment Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Betamethasone Ointment Market) held the largest share with 36% of the overall market in 2021. The growth of this region is owing to the surging predominance of skin ailments like psoriasis in the region. The soaring count of cases with rheumatic disorders like rheumatic arthritis and systemic lupus erythematosus is further propelling the growth of the Betamethasone Ointment Market in the North American region. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027.
Competitive landscape:
The top 5 players in the betamethasone ointment industry are:
1. GlaxoSmithKline plc.
2. Cipla Inc
3. East West Pharma
4. Micro Labs Ltd
5. Psyco Remedies
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