(PharmaNewsWire.Com, March 27, 2022 ) The Methylprednisolone Market size is estimated to reach $917.4 million by 2027 and is poised to grow at a CAGR of 3.4% over the forecast period of 2022-2027. The drug, Methylprednisolone is a corticosteroids or an immunosuppressive drug. The following medication is used to treat problems and diseases such as auto-immune disorders, cancer, arthritis, and other fatal disorders. Moreover, it can help in curing the body’s regular inflammation arising because of severe allergies, flairs, and other chronic illnesses. One of the cross-competitor for the following salt is indomethacin, as it is a non-steroidal drug that is capable of curing heart diseases and reducing inflammation. Patients who have been taking on a regular dose of Methylprednisolone may often come across GAD or gastrointestinal reflux disease, further, metoclopramide is given to such patients. Additionally, as per various reports, Methylprednisolone increases one’s blood pressure which in turn requires the patient to adopt drugs such as carvedilol and metoclopramide. Owing to an increase in the geriatric population and their need to adopt immune disorders medications along with the frequency of developing skin rashes and other inflammatory disorders are some of the factors driving the Methylprednisolone Industry forward in the projected period of 2022-2027.
Methylprednisolone Market Segmentation Analysis- By Indication
The Methylprednisolone Market based on indication can be further segmented into Rheumatic Disorder, Asthma, Systemic Lupus Erythematosus, Allergic Conditions, Eye Disorders, and Skin Disorders. Asthma held a dominant market share in the year 2021. It is owing to the steroidal drug treatment being often prescribed by the doctors to treat such conditions; hence, methylprednisolone comes into play. Steroids work by acting as an anti-inflammatory, which reduces inflammation, swelling, and mucus production in the airways of the afflicted. Owing to such reasons, asthma triggers reduce and so does its intensity. Moreover, around 1 in every 13-person living in the US has asthma, which roughly translates to about 25 million.
However, the rheumatic disorder is estimated to be the fastest-growing, with a CAGR of 3.8% over the forecast period of 2022-2027. It is owing to the rise in various risk factors which contribute to the said disease. For example, as per CDC, old age, smoking, early-life exposure to smoking, and obesity are all the common triggers for such diseases. More so, the geriatric population is blooming globally and so is obesity. Owing to such factors, the segment is poised to offer lucrative returns.
Methylprednisolone Market Segmentation Analysis- By Distribution Channel
The Methylprednisolone Market based on distribution channels can be further segmented into offline and online retail. Offline retail held a dominant market share in the year 2021. It is owing to the spontaneity of the allergic conditions, which have to be often responded to in the ER of the hospitals. Allergic conditions, eye disorders, and other inflammatory diseases are on the rise, owing to which people have to take injections or oral pills to control them.
However, the online segment is estimated to be the fastest-growing, with a CAGR of 4.0% over the forecast period of 2022-2027. It is owing to various strategies being adopted by the new players reaching the market. Moreover, market entrants are devising new strategies of memberships, cashback, and discounts which are proven to be successful. For example, Medrol by Pfizer costs INR 53 for 10 tablets. However, if one opts for Tata 1mg care plan, you can avail of the following with INR 38.39. Owing to such strategies and discounts, the following segment will grow.
Methylprednisolone Market Segmentation Analysis- By Geography
The Methylprednisolone Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s Methylprednisolone Market held a dominant market share with 34% of the market in the year 2021. It is owing to the robustness of healthcare in the following region. Moreover, the triggering factors for the following conditions are highly prevalent in the following regions such as obesity. Obesity prevalence has increased from 30.5% to 42.4%, thereby influencing the use of steroidal drugs.
However, Asia-Pacific is set to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is attributed to the rising awareness regarding better medical conditions and facilities. Moreover, in 2021, healthcare expenditure and allocation by India rose by up to 137%, thereby showing confluence.
Methylprednisolone Market Drivers
The growing prevalence of auto-immune disorders has readily aided the market growth
Auto-immune disorders are predominantly found in adults or people above the age of 65. It is owing to the decrease in the body’s immunity to fight viruses and bacteria, thereby, it starts attacking its own healthy cells. Moreover, as per OECD, in Asia-Pacific countries, the life expectancy has increased by 6 years in low- and middle-income countries. Whereas, as per their estimates, the share of the population which is aged above 65+ will be 2.5x from what it is today. The drug works by blocking the production of certain chemical messengers in the body, which causes inflammation and other forms of allergies. Moreover, the prevalence of lifestyle diseases is rapidly growing up, with an increased fatality rate. For example, 7 million cancer-related deaths happen globally, whereas inflammatory disease affecting lungs take a toll of around 90% in child death in low- and middle-income countries. Owing to such demand and disease load the market is poised favorable in the projected period of 2022-2027.
The rapid surge in activities pertaining to R&D for drug discovery and enhancement has driven the market multifold
Pharmaceutical companies and biotechnology giants have been seeing a soaring allocation for their R&D activities. Especially, for enhancing the old salts, and mixing it up with other salts to reduce the toxicity and efficacy. For example, Incyte saw its R&D budget zoomed to $2.216 billion in 2020, which earlier in 2019 was close to $1.154 billion. Moreover, half of the company’s employees are working in the R&D department. Similarly, Biogen’s R&D budget zoomed to $4 billion, which earlier was close to $2.3 billion. Additionally, companies like Vertex Pharmaceuticals employees 3 people in the R&D activity out of every five. Furthermore, the companies are seeking great help from CROs, which are established in Asia-Pacific regions to provide expertise and to invade homeland tax costs. For Incyte, the primary increment was associated with them outsourcing their clinical research activities to outside services.
The side effects owing to the use of Methylprednisolone have been a key market hindrance
Side effects such as irregular heartbeat, loss of appetite, chills, and confusion are some of the most commonly reported side effects. Moreover, the following drug show contraindication to various conditions, such as it has to be avoided who already have severe gastrointestinal problems. Moreover, researchers have contributed to the uprising of a suppressed thyroid. Further, the drug has the potential to increase blood sugar production while also increasing hypertension. As per the US CDC, diabetes mellitus affects close to 36 million or 10.7% of the entire population. Similarly, in India, there are 77 million confirmed cases of diabetes. As for hypertension, nearly half of the adults have the condition living in the US. Owing to its low usage and contra-indication the market is expected to offer low penetration and growth.
Methylprednisolone Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Methylprednisolone top 10 companies include:
Oakrum Pharma,
Intelgenx Corp,
Jubilant Cadista Pharmaceutical Inc,
Pfizer Inc.,
Pharmacia,
Sandoz,
Teva Pharmaceutical,
Tianjin Kingyork,
Opko Health
Zhejiang Xianju Pharmaceutical Co., Ltd.
Recent Developments
In January 2021, Severe Covid-19 pneumonia patients were given a high dose of methylprednisolone along with prednisone for 14 days, the combination worked wonders in patients as compared to dexamethasone for 7-10 days. Moreover, the recovery time they need for transfer to the ICU, and other inflammation markers were significantly bought down. Moreover, the D-Dimer and LDH factors were also reduced. Owing to such viability and results, the following can be a plausible medication for COVID-19.
In October 2019, Oakrum Pharma and Sun Gen Pharma announced the U.S launch of a generic version of Medrol. The tablet would have a potency of 4mg. The marketers anticipate that the product will serve the retail market with annual sales in the US exceeding $110 million. The company believes in expanding its product line by introducing new partnerships with its R&D developers. The addition of this product will add to Oakrum’s product portfolio, bringing its total to eight.
Key Takeaways
Geographically, North America’s Methylprednisolone Industry held a dominant market share in the year 2021. It is owing to the presence of major drug manufacturers, and the key incentives being given by the government to various researchers and organizations to develop advanced drugs for disease curing. However, Asia-Pacific is set to offer lucrative growth opportunities to marketers owing to a rapid increase in the geriatric population and related auto-immune disorders.
The growing geriatric population supplemented by the changing environment inducing pathogen-related skin disorders has aided the market growth. However, side-effects pertaining to the use of steroids such as Methylprednisolone have hampered the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Methylprednisolone Market Report.
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