Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest Fact.MR analysis, the global dexamethasone market is set to witness strong growth in the next ten years.
COVID-19 Outbreak Fuelled Dexamethasone Demand, Overall Sales to Total US$ 46.9 Bn by 2031
Fact.MR survey on Dexamethasone market offers detailed analysis on the key growth drivers and trends affecting the demand in terms of administration route, application and distribution channel. It also highlights various strategies adopted by key market players to gain a competitive edge in the dexamethasone market.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest Fact.MR analysis, the global dexamethasone market is set to witness strong growth in the next ten years. Expansion of global antiviral market will have a profound impact on Dexamethasone sales.
Fact.MR presents a positive growth outlook for the dexamethasone market with antiviral market set to surpass US$ 46.9 billion by 2031.
Robust expansion of the dexamethasone market can be attributed to the increasing prevalence of various diseases such as allergic disorders, skin conditions, cancer, breathing disorders, ulcerative colitis, arthritis and COVID-19.
Owing to its anti-inflammatory and immunosuppressant properties, dexamethasone is being increasingly prescribed to treat a wide range of diseases.
Sales of dexamethasone skyrocketed during the COVID-19 pandemic as it was found effective in the treatment of some cases of novel coronavirus. Around 2.8 million orders were released in June 2020 after the University of Oxford researchers found dexamethasone effective against symptoms affecting COVID-19 patients.
In September 2020, the World Health Organization (WHO) prescribed the use of dexamethasone for the treatment of patients with severe and critical COVID-19.
Similarly on August 4, the Food and Drug Administration (FDA) approved an abbreviated new drug application for dexamethasone sodium phosphate injection to treat critically ill COVID-19 patients.
Injectable segment dominates the dexamethasone market. They are preferred in hospital emergency wards for treating variety of diseases. Considering this, injectable segment is expected to remain dominant as route of administration through the forecast period.
The U.K leads the dexamethasone market with a healthy market share. As per National Health Services (NHS), in June 2020, the U.K government had stockpiled around 200,000 courses of the drug after it showed promising results against COVID-19.
“Consistent drug approvals by regulating bodies and increasing manufacturing of will continue to drive the market during the forecast period,” says the Fact.MR analyst.
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Key Takeaways from Dexamethasone Market Survey
- The U.K leads the dexamethasone market as a result of governmental support and increase in manufacturing of generic drug dexamethasone for treating COVID-19.
- China is expected to offer lucrative growth opportunities for the manufacturers of dexamethasone as majority of raw material comes from the country.
- With highly developed healthcare sector and presence of leading drug manufacturers, the U.S is set to emerge as a leading market for dexamethasone.
- The injectable segment leads the dexamethasone market as it is being preferred for its quick action in the treatment of various diseases.
- Based on application, the COVID-19 segment is anticipated to continue its dominance in the dexamethasone market.
Key Drivers
- Increasing prevalence of various disorders such as chronic obstructive lung diseases and arthritis is driving the dexamethasone market.
- Advent of COVID-19 pandemic bolstered the sales of dexamethasone products.
- Involvement of governments to tackle the rising cases of diseases like COVID-19 and cancer is positively impacting the demand for dexamethasone.
- Expansion of pharmaceutical sector will offer lucrative opportunities to the manufacturers of dexamethasone.
- Rising awareness regarding the use of dexamethasone also aids in the growth of the market.
Key Restraints
- Development of vaccines will decrease the demand for dexamethasone products.
- Side effects associated with dexamethasone is restraining the growth of the market.
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Competitive Landscape
Key companies operating in the dexamethasone market are focusing on developing new products. They have adopted various organic and inorganic strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.
- In August 2020, Dr. Reddy’s Laboratories announced the first-to-market launch of the generic version of Ciprodex (ciprofloxacin 0.3% and dexamethasone 0.1%) in the U.S. The Ciprodex is indicated for the treatment of infections caused by the susceptible isolates of the designated microorganism in the specific conditions of Acute Otitis Media (AOM in pediatric and Acute Otitis Externa (AOE) in pediatric, adult and elderly patients.
- In August 2020, Fera Pharmaceuticals announced the launch of Dexamethasone 4 mg tablets USP in unit dose packaging.
- In March 2021, the U.S Food and Drug Administration (FDA) approved isatuximab-irfc (sarclisa) in combination with carfilzomib and dexamethasone for the treatment of adult patients with relapsed or refractory multiple myeloma who have previously received 1 to 3 lines of therapy.
Some of the prominent players operating in the Dexamethasone market profiled by Fact.MR are:
- Allergan plc
- Alcon, Pfizer Inc.
- Morepan laboratories Ltd.
- Zydus Cadila, Aspen
- Cadila Pharmaceuticals
- GLS Pharma Ltd
- Hikma Pharmaceuticals PLC
- Merck and Co, Inc.
- Xspire Pharma, LLC
- Taro Pharmaceutical Industries Ltd
- Pragma Pharmaceuticals, LLC
- Trotwood Pharma Limited
- Wellona pharma
- Wokhardt, Sandoz AG.
- AdvaCare Pharma.
More Insights on the Global Dexamethasone Sales Outlook
Fact MR provides an unbiased analysis of dexamethasone market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for dexamethasone with a detailed segmentation on the basis of:
Route of administration
- Nasal
- Ophthalmic
- Otic
- Topical
- Oral
- Injectable
Application
- Rheumatoid arthritis
- Psoriasis
- Eczema
- Pulmonary diseases
- COVID-19
Distribution channel
- Hospital pharmacies
- Online pharmacies
- Retail stores
Key Questions Covered in the Dexamethasone Sales Outlook Report
- The report offers insight into dexamethasone demand outlook for 2021-2031
- The market study also highlights projected sales growth for dexamethasone market between 2021 and 2031
- Dexamethasone market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Dexamethasone market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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