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Prednisone belongs to the class of corticosteroids. It is a synthetic, anti-inflammatory glucocorticoid derived from cortisone. This corticosteroids mimic the effect of hormones in body that are produced naturally in adrenal gland. Prednisone is also known as an inflammatory or immunosuppressant agent and indicated in the treatment of various disease or conditions including allergic conditions, endocrine conditions, dermatologic diseases, gastrointestinal diseases, neoplastic conditions, rheumatologic conditions, and pulmonary diseases.
According to the Global Burden of Diseases, Injuries, and Risk Factors (GBD), estimated 19,965,115 cases of rheumatoid arthritis in 2017.
COVID-19 pandemic had affected the global economy by a decrease in production and demand of various medical supplies including medical devices, equipment, consumables, and etc. Disruption in the supply chain and its finances have significantly affected the global financial market as well as the prednisone market. The prednisone drug manifested minor side effects during COVID 19 infection treatment that indicated short term negative impact on the prednisone market.
Rising prevalence of arthritis, allergies, and growing incidences of asthma expects to fuel the prednisone market growth during forecast. Additionally, growing incidences of immunological and chronic diseases are the key factors that surge the demand for prednisone administered separately or in combination with another drugs expects to propel the prednisone market during forecast period. The rise in the prevalence of skin disorder is primarily driving the prednisone market during the forecast. Additionally, an increased rate of geriatric patients plump for noninvasive procedures have fueled the prednisone market globally. However, various side effects or the associated complications during medication hampers the prednisone market growth.
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North America continues to hold the major global prednisone market share due to the rising prevalence of arthritis and other chronic diseases with high adoption of advanced treatment with strong healthcare infrastructure. According to Rheumatoid Arthritis Statistics, about 1.3 million Americans suffer from rheumatoid arthritis every year. Europe's Prednisone Market is expected to gain significant traction with an increase in physical alteration awareness, with change in lifestyle and growing focus toward research and development areas. Asia Pacific region is anticipated to witness the lucrative opportunity out-turning the treatment of chronic diseases as well as other idiopathic conditions due to a rise in technologies in the prednisone market.
The key players contributing to the Prednisone Market are Camphor Technologies Inc., Zhejiang Xianju Xianle Pharmaceutical Co., Ltd., Henan Lihua, Sinoway Industrial Co., Ltd., Shandong Taihua Bio &Tech Co. Ltd., and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, dosage form applications, and distribution channels.