The global cortisone shots market is expected to grow at a CAGR of 5.2% during the forecast period. Cortisone shots are used of the treatment of a spectrum of diseases. In dermatology, these shot are administered for skin conditions such as shingles, whereas in orthopedic they are used to treat joint pain and in the treatment of diseases such as osteoarthritis, and tendinitis. Medical practitioners also administer cortisone shots in the gluteus muscle to treat an allergic reaction.
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Rising prevalence of chronic diseases such as rheumatoid arthritis, osteoarthritis, tendinitis and other diseases, extensive demand for the treatment of severe sport injuries and increasing number of sport medicine centers stimulate the growth of the market.
The global cortisone shots market is segmented on the basis of type, indication, and end user.
On the basis of type, market is segmented into articular or joint injections, epidural steroid injection, trigger point" injection, and others.
On the basis of indication, the market is segmented into rheumatoid arthritis, psoriatic arthritis, bursitis, allergic reaction, skin conditions, and others.
On the basis of end user, the market is segmented into hospitals, clinics, sport medicine centers, pharmaceutical companies, and others.
In the Americas, rising prevalence of various types of allergies, arthritis, tendinitis, and others, and rising demand for corticosteroid injection in the U.S. are key drivers for the growth of the market. According to the Center for Disease Control and Prevention, from 2013- 2015, an estimated 54.4 million U.S. adults annually were diagnosed with rheumatoid arthritis, gout, lupus, or fibromyalgia. They also estimated that nearly 78 million (26%) U.S. adults, aged 18 years or older are projected to have doctor-diagnosed arthritis by 2040.
Europe is the second largest market for septic arthritis owing to the rising prevalence of rheumatoid arthritis in European countries and availability of funds for research and development activities.
The market in Asia Pacific is expected to grow at the fastest pace and is driven by the rising prevalence of diabetes and obesity, which act as risk factors for the growth of the market. China, and India are the leading countries with increasing prevalence of diabetes.
The Middle East & Africa also show a steady rise in the market owing to high prevalence of chronic diseases, and increasing healthcare expenditure also influences the market growth in the Middle East & African countries.
Major Players in the Market:
Some of the key players in the global market are Merck & Co., Inc. (U.S.), Pfizer (U.S.), Bristol-Myers Squibb Company (U.S.), Novartis AG (Germany), GlaxoSmithKline (U.S.), Pharmascience Inc. (U.S.), Farmabios SPA (Italy), AdvaCare Pharma (U.S.), and others.
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