Global Dexamethasone Market Introduction
- Dexamethasone, a synthetic adrenocortical steroid, is a white to practically white, odorless, crystalline powder. It is stable in air and practically insoluble in water. Its molecular formula is C22H29FO5.
- Dexamethasone is a glucocorticoid medication, which is similar to a natural hormone produced by adrenal glands. It is used to treat rheumatic problems, a number of skin diseases, severe allergies, asthma, chronic obstructive lung disease, croup, brain swelling, and eye pain following an eye surgery.
- In terms of application, the global dexamethasone market can be segmented into anti-inflammatory & immunosuppressant effects, respiratory distress syndrome, COVID-19, and others. The anti-inflammatory & immunosuppressant effects segment is expected to expand at a significant pace during the forecast period owing to the growth in usage of dexamethasone to treat a number of different inflation conditions, such as swelling. Dexamethasone provides relief to the inflamed areas of the body.
Key Drivers of Global Dexamethasone Market
- Rise in usage of dexamethasone for critically ill COVID-19 patients is expected to boost the consumption of dexamethasone during the forecast period. Dexamethasone is used as a lifesaving treatment for critically ill COVID-19 patients. In patients hospitalized with Covid-19, the usage of dexamethasone resulted in lower 28-day mortality among those who were receiving either invasive mechanical ventilation or oxygen alone at randomization but not among those receiving no respiratory support.
- Increase in usage of dexamethasone to cure various diseases is anticipated to propel the consumption of dexamethasone during the forecast period. Dexamethasone belongs to a class of drugs known as corticosteroids. It decreases the immune system's response to various diseases in order to reduce symptoms such as swelling and allergic-type reactions. Dexamethasone is used to treat conditions such as arthritis, blood/hormone disorders, allergic reactions, skin diseases, eye problems, breathing issues, bowel disorders, cancer, and immune system disorders. It is also used as a test for an adrenal gland disorder (Cushing's syndrome).
Key Restraints of Global Dexamethasone Market
- Dearth of universal directives pertaining to applications of dexamethasone is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of dexamethasone. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the dexamethasone market, thereby adversely affecting the market.
- Lack of awareness and less adoption of dexamethasone in many developed and underdeveloped countries is also projected to adversely affect the market during the forecast period
COVID-19 Impact on Global Dexamethasone Market
- The COVID-19 outbreak is hampering the demand for dexamethasone in many applications. Governments of various countries across the globe have enforced lockdown as a measure to curb the spread of the pandemic. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, thereby negatively impacting the demand for dexamethasone.
- Key players operating in the global dexamethasone market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of dexamethasone. Thus, demand for dexamethasone market is expected to decline in 2020.
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Asia Pacific to Hold Major Share of Global Dexamethasone Market
- In terms of region, the global dexamethasone market can be split into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
- In terms of consumption, Asia Pacific is projected to hold significant share of the global dexamethasone market during the forecast period. Rise in disposable income and improvement in standard of living of the people in many countries in Asia Pacific is expected to boost the consumption of dexamethasone in the region during the forecast period. Additionally, easy availability of such drugs in the region and growth in number of market players are likely to propel the market during the forecast period. Various companies are estimated to conduct intensive R&D activities and launch an array of drugs, thus adding to the portfolio of lifestyle products.
- North America is also anticipated to account for vital share of the global market during the forecast period. Increase in prevalence of chronic diseases; growth in geriatric population, and rise in health care expenditure are expected to boost the dexamethasone market in the region during the forecast period.
Prominent Players in Global Dexamethasone Market
Major players operating in the global dexamethasone market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Cadila Healthcare Ltd.
- Wockhardt Ltd.
- Dwarkesh Pharmaceuticals Private Limited
- Schwitz Biotech
- Lexine Technochem Private Limited
- Mapro Lifescience
- Therawin Formulations
- Shervotec Pharmaceuticals
- Acichem Laboratories
- Quality Nexgen Pharmaceuticals Pvt Ltd
- Kern Pharma SL
- Symbiotic Pharma
- Fresenius Kabi
- Somerset Therapeutics