Cortisone Shots Market Size, Trends, Industry Share Report 2022
The Cortisone
Shots Market is anticipated to reach USD 3.97 Billion by 2030
at 6.80% CAGR during the forecast period 2022-2030.
The rise in
the incidence of chronic diseases such as rheumatoid arthritis, tendonitis and
bursitis, the increase in the number of joint, muscle and tendon injuries and
the emergence of major players on the market are significant reasons for
accelerating market growth. Due to the growing prevalence of arthritis among
the elderly, the rising geriatric population is another primary factor for
demand development. However, there are a range of drawbacks to cortisone
shoots, such as damage to tendons , ligaments and articular cartilage, thereby
limiting market growth. The main factors driving the global cortisone shots
demand are strong unmet requirements, increased incidence of bone and joint
diseases, government awareness campaigns for joint disorders, increased obese
population due to unhealthy behaviours, and advantageous health insurance
coverage.
The rise in
the prevalence of infectious diseases such as cancer and autoimmune diseases,
the rise in the geriatric population and the increase in the prevalence of
allergic reactions are pushing the demand. Asthma is the world's most chronic
pulmonary disease, yet it is misdiagnosed or under-treated, and this loophole
is expected to promote revenue from the cortisone market. In emerging countries
as well as industrialised countries, development in the industry is growing
because of rising disposable income and increasing awareness of epidemic
outbreaks of different autoimmune diseases. The other factors driving the
global cortisone shots market are increased health awareness among individuals,
advancement in steroid injection therapy, and increased demand for steroid
injections.
Major Key
Players:
Some of the Cortisone Shots Market Players
are Merck & Co., Inc. (U.S.), Pfizer (U.S.), Bristol-Myers Squibb Company
(U.S.), Novartis AG (Germany), GlaxoSmithKline (U.S.), Pharmascience Inc.
(U.S.), Farmabios SPA (Italy), AdvaCare Pharma (U.S.), and others.
Segment Analysis
The global
cortisone shots market is segmented on the basis of indication, type, and end
user.
Based on the
type, market is segmented into epidural steroid injection, trigger point
injection, articular or joint injections, and others.
Based on the indication,
the market is segmented into bursitis, rheumatoid arthritis, psoriatic
arthritis, skin conditions, allergic reaction, and others.
Based on the
end user, the market is segmented into clinics, sport medicine centers,
pharmaceutical companies, hospitals, and others.
Regional Analysis
Owing to the
growing prevalence of different forms of asthma, inflammation, tendinitis, and
others, and increasing demand for corticosteroid injection in the U.S., America
wins the first spot in the market for cortisone shots In comparison, the
prevalence of tendinitis among athletes has been shown to rise in the U.S. over
the last few years.
Thanks to the
increasing prevalence of rheumatoid arthritis in European countries and the
availability of funds for research and development activities, Europe is the
second largest market for cortisone injections. Increased incidence of allergic
disorders such as asthma, food allergy, and anaphylaxis, increased demand for
diagnostic facilities, and increased understanding of the usage of cortisone
injections for tendinitis care are also driving market development.
The
Asia-Pacific market is projected to expand at the fastest rate, led by a
growing prevalence of diabetes, obesity, which serves as risk factors for
rheumatoid arthritis and osteoarthritis, which will further fuel market growth.
In addition, the awareness of sports injuries and the use of cortisone shots
for their recovery positively affects the development of the industry.
Thanks to the
high incidence of chronic diseases such as obesity and diabetes and the
expansion in healthcare facilities, the Middle East & Africa also showed a
steady growth in the market. Growing need for alternative care solutions for
sports injuries also impacts the Middle East & African countries' business
growth.
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