Global Prednisolone Market Size To Worth USD 0.316 Billion By 2033 | CAGR Of 8.10%
Category: HealthcareGlobal Prednisolone Market Size To Worth USD 0.316 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Prednisolone Market Size is expected to Grow from USD 0.145 Billion in 2023 to USD 0.316 Billion by 2033, at a CAGR of 8.10% during the forecast period 2023-2033.
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Browse key industry insights spread across 206 pages with 100 Market data tables and figures & charts from the report on the “Global Prednisolone Market Size, Share, and COVID-19 Impact Analysis, By Formulation (Oral Solution and Tablets), By Indications (Inflammatory Conditions, Allergies, Autoimmune Disorders, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/prednisolone-market
The prednisolone market is a synthetic corticosteroid used to treat various health issues, including allergies, asthma, autoimmune disorders, and certain types of cancer. It targets the immune system to relieve swelling, redness, itching, and allergic reactions. Prednisolone is marketed as HEALTHY-PRED-20 tablets, Predkab-Forte Syrup, and PredGrev ophthalmic suspension. The rising prevalence of autoimmune hepatitis, a chronic and progressive liver disease, has increased the need for immunosuppressive drugs like prednisolone. The market growth is driven by the growing cases of uveitis, a leading cause of vision loss in the developed world. Government initiatives, such as the National Programme for Health Care of the Elderly (NPHCE), Affordable Medicines and Reliable Implants for Treatment (AMRIT), Jan Aushadhi stores, and the Pradhan Mantri Jan Arogya Yojna (PMJAY), drive the market growth. The market is expected to grow owing to its broad range of clinical applications, increasing proportion of the aged population, and government initiatives. However, the side effects derived from the long use of prednisolone hinder the market growth.
The tablets segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the formulation, the global prednisolone market is categorized as oral solution and tablets. Among these, the tablets segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. This is driven by cost-effectiveness, patient convenience, physical and chemical stability, microbial contamination risk reduction, longer shelf life, and novel drug delivery systems like controlled dosing, ease of administration, and rapid drug dissolution.
The allergies segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the indications, the global prednisolone market is categorized as inflammatory conditions, allergies, autoimmune disorders, and others. Among these, the allergies segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. This is driven by the rise in allergic conditions, its ability to alleviate symptoms like redness and itching, reduce inflammation, and its widespread use in adults and the elderly.
North America is expected to hold the greatest share of the global prednisolone market over the forecast period.
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North America is expected to hold the greatest share of the global prednisolone market over the forecast period. This is attributed to the rise in chronic illnesses and the need for corticosteroid treatments. The region's healthcare spending and research capabilities are bolstering its market position. The synthetic corticosteroid is used extensively due to its immunosuppressive and anti-inflammatory properties. The aging population, healthcare infrastructure improvements, and increasing knowledge of its medicinal benefits are driving market growth. Advancements in formulation, such as combination therapies and sustained-release tablets, are improving patient compliance and treatment results.
Asia Pacific is predicted to grow at the fastest CAGR throughout the estimated period. This is ascribed to factors such as increasing disposable income, improved healthcare infrastructure, and growing awareness. Countries like China, Japan, and India, with large older populations and chronic illnesses, are driving market growth. Government programs and healthcare facilities are facilitating this expansion. Prednisolone is being improved by increased bioavailability and sustained release. Asia-Pacific's growing pharmaceutical companies, backed by skilled workers and affordable prices, are making prednisolone more widely available. Strategic partnerships are being formed to increase market share and drug accessibility.
Major key players in the global prednisolone market are AbbVie Inc., Mylan N.V., Sandoz International GmbH, Hikma Pharmaceuticals PLC, Novartis AG, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Amneal Pharmaceuticals, Inc., Bayer AG, AstraZeneca plc, Torrent Pharmaceuticals, Sanofi S.A., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In October 2024, Lupin, a global pharmaceutical company launched the first generic version of the Pred Forte (Prednisolone Acetate) ophthalmic suspension USP, 1% in the United States. Prednisolone Acetate Ophthalmic Suspension USP, 1% is a generic version of Pred Forte Ophthalmic Suspension, 1% of AbbVie, Inc., used to treat steroid-responsive inflammation in the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe, with estimated annual sales of USD 198 million in the U.S.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global prednisolone market based on the below-mentioned segments:
Global Prednisolone Market, By Formulation
- Oral Solution
- Tablets
Global Prednisolone Market, By Indications
- Inflammatory Conditions
- Allergies
- Autoimmune Disorders
- Others
Global Prednisolone Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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