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Intra-Articular Corticosteroid Market Segmented By drug type such as Methylprednisolone Acetate, Triamcinolone Acetate, Triamcinolone Hexacetonide, Dexamethasone, Others with application type such as Osteoarthritis, Rheumatoid Arthritis, Acute Gout, Others
Over the past decades, intra-articular corticosteroid has been widely used in knee osteoarthritis. Intra-articular corticosteroid is a medicine which is directly injected into the joint space of the painful, inflamed arthritic joint. Intra-articular corticosteroid is majorly used for the treatment of patients with knee osteoarthritis.
Intra-articular corticosteroid injections provide a short term reduction in osteoarthritis pain. An intra-articular corticosteroid is generally given when the pain has not responded to more conservative treatments like physical therapy, pain relievers, and oral anti-inflammatory drugs.
The increasing prevalence of osteoarthritis is considered as an important factor in driving the growth of the global intra-articular corticosteroid market. Osteoarthritis is a disabling joint disorder associated with a breakdown of the cartilage of the joints and is affecting millions of people. Globally, there are around more than 8.9 million fractures caused by osteoporosis. It is expected to be the most common cause of disability in adults.
Furthermore, the increasing number of road accidents and sports-related injuries are also driving the market growth of intra-articular corticosteroid market.
However, dropout rates were increased due to the side effects (like local site reaction, increase in blood glucose levels and blood pressure, and infection) associated with the intra-articular corticosteroid. This has reduced the adoption rate among the targeted population and further hampered the growth of the global intra-articular corticosteroid market globally.
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North America intra-articular corticosteroid market and Europe intra-articular corticosteroid market are collectively expected to hold maximum market share in the global intra-articular corticosteroid market. This is due to the rising prevalence of knee osteoarthritis and the availability of high-quality healthcare facilities.
South Asia intra-articular corticosteroid market is anticipated to hold significant market share in the global intra-articular corticosteroid market due to the growing number of drug development activities. Emerging countries of the developing regions are expected to grow with a significant growth rate.
The key players present in the global intra-articular corticosteroid market are Flexion Therapeutics, Pfizer Inc., Bristol-Myers Squibb Company, Novartis AG (Sandoz), Teva Pharmaceutical Industries Ltd., Cardinal Health, Inc., Terrain Pharmaceuticals, LLC, Allergan plc, and others.
The emerging market players operating in the local intra-articular corticosteroid market are majorly focusing on their geographical expansion in order to increase their market presence in the global intra-articular corticosteroid market.