The SARS-CoV outbreak research studies show that corticosteroids as adjunctive therapy may be beneficial to treat coronaviruses if utilized in the early acute phase of infection. The use of corticosteroids during the treatment of coronaviruses have shown positive outcomes due to their ability to modulate the inflammatory response. Therefore, the corticosteroids market has experienced a surge in its growth.
The global corticosteroids therapy market is expected to grow from $4.2 billion in 2019 to about $4.5 billion in 2020, as there is a marginal increase in demand due to the use of corticosteroids along with other drugs for the treatment of Covid-19 patients. The market is expected to stabilize and reach $4.9 billion at a compound annual growth rate (CAGR) of 4.2% through 2023.
Increasing prevalence of skin related disease and the rising incidences of rashes, dermatitis, itching, eczema, and psoriasis also contributed to the growth of the global corticosteroids market. According to the CDC (Center for Disease Control), each year in the US, 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. Skin conditions contributed 1.79% to the global burden of disease measured in DALYs (Disability-adjusted life years) from 306 diseases and injuries in 2013. Individual skin diseases varied in size from 0.38% of total burden for dermatitis (atopic, contact, and seborrheic dermatitis), 0.29% for acne vulgaris, 0.19% for psoriasis, 0.19% for urticaria, 0.16% for viral skin diseases, 0.15% for fungal skin diseases, 0.07% for scabies, 0.06% for malignant skin melanoma, 0.05% for pyoderma, 0.04% for cellulitis, 0.03% for keratinocyte carcinoma, 0.03% for decubitus ulcer, and 0.01% for alopecia areata. All other skin and subcutaneous diseases composed 0.12% of total DALYs. The increased prevalence of such disorders increases the demand for corticosteroids, thus driving the market.
The development of silicones for topical and transdermal drug delivery is a key trend in the global corticosteroid therapy market. Silicone gel sheets are soft wound covers composed of cross-linked polymers reinforced with or bonded to mesh or fabric. A new strategy to deliver drugs to the inner ear from dexamethasone (DXM)-loaded silicone implants, and to evaluate the distribution of the drug in the cochlea with confocal microscopy has been developed in recent years. The development of a new device for local corticosteroids delivery into the oval window with an extended drug release of DXM to the inner ear has also been a recent development. Silicone gel sheeting is also an excellent treatment option for pediatric patients who may not be able to tolerate intralesional corticosteroid injection. Silicone-based pressure-sensitive adhesives for transdermal drug delivery has shown higher diffusivity and greater skin permeation rate. Silicones offer several advantages such as improved drug permeability, high diffusivity and offer efficient function and performance to modern drug products.