Betamethasone Ointment Market size is forecast to reach 1.4 billion by 2025, growing at a CAGR of 4.39% during the forecast period 2020-2025. Betamethasone ointment is a medication that is used to treat skin diseases. Increasing incidence of skin diseases and increasing awareness are the major factors driving the growth of the market. Rising incidences of rheumatoid disorders is set to further enhance the overall market demand of betamethasone ointment during the forecast period 2020-2025.
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Type- Segment Analysis
Betamethasone Dipropionate is a glucocorticoid steroid with anti-inflammatory and immunosuppressive abilities. It is applied as a topical cream, ointment, lotion or diprolene which is used to treat itching and other minor skin conditions such as eczema. It is a synthetic analog of the adrenal corticosteroids. Betamethasone sodium phosphate and betamethasone acetate combination injection provides relief for inflamed areas of the body. It is used to treat a number of different conditions such as inflammation , severe allergies, adrenal problems, arthritis, lung or breathing problems, blood or bone marrow problems, eye or vision problems, lupus, serious skin conditions, kidney problems, ulcerative colitis and flare-ups of multiple sclerosis. betamethasone dipropionate is set to be the fastest growing segment and is estimated to register a highest CAGR during the forecast period 2020-2025.
Product – Segment Analysis
Betamethasone ointment is used to treat a variety of skin conditions as eczema, dermatitis, allergies, and rash. It reduces the swelling, itching, and redness that can occur in these types of conditions and is a strong corticosteroid. Betamethasone is a white to creamy white, odorless crystalline powder and is soluble in water. Betamethasone injection to be used when treating soft tissues lesions in adults and children require smaller and the dose can be repeated on two or three occasions depending upon the patient’s response. Cream and Lotion is set to be the fastest growing segment and is estimated to register a highest CAGR of 3.86% during the forecast period 2020-2025.
Geography – Segment Analysis
North America dominates the betamethasone ointment market with a share of more than 37.5%, followed by Asia Pacific owing to the increasing incidences of skin disorders such as psoriasis. Rising incidences of rheumatoid disorders such as rheumatoid arthritis and systemic lupus erythematosus is boosting the growth of the betamethasone ointment market in the North America region.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the rising incidence of asthma and increase in the number of cancer patients.
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Drivers – Betamethasone Ointment Market
Increase in the number of cancer patients and rising number of population is increasing the growth of the betamethasone ointment market .Betamethasone ointment is used for cancer like leukemia and with fludrocortisone for adrenocortical insufficiency. It is also used to stimulate fetal lung maturation in order to prevent infant respiratory distress syndrome and to decrease the incidence and mortality from intracranial hemorrhage in premature infants. Treatment with betamethasone cream is more efficient than moisturizers for the control of acute RT dermatitis in patients treated with adjuvant RT for breast cancer. Increasing surge of cancer patients is boosting the growth of the betamethasone ointment market .
Increasing incidence of skin diseases and increasing awareness is increasing the growth of the betamethasone ointment market. Betamethasone ointment is used to treat the itching, redness, dryness, crusting, scaling, inflammation and discomfort of various skin conditions, including psoriasis which is a skin disease in which red scaly patches form on some areas of the body and eczema which is a skin disease that causes the skin to be dry and itchy. Betamethasone dipropionate is a glucocorticoid steroid with anti-inflammatory and immunosuppressive abilities. It is a super high potency corticosteroid used to treat inflammatory skin conditions such as dermatitis, eczema and psoriasis. It is a synthetic analog of the adrenal corticosteroids.Thus, increasing the growth of the betamethasone ointment market.
Challenges – Betamethasone Ointment Market
Some of the factors that is set to impede the growth of the betamethasone ointment is increased risk of weakness, severe allergic reactions, psychosis, and muscle weakness. Long-term use of betamethasone ointment is set to cause adrenal insufficiency and lack of awareness among population hamper the growth of the betamethasone ointment market.
Betamethasone Ointment Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Betamethasone Ointment Market. In 2019, Betamethasone Ointment Market share is consolidated by the top ten players present in the market. Betamethasone Ointment, top 10 companies are
Cipla Inc, East West Pharma, Micro Lab Ltd, Psyco Remedy, Pharmtak Ophtalmics Pvt.Ltd, Omega Remedy Pvt.Ltd, Moraceae Pharmaceutical Pvt Ltd, Glaxosmithkline Plc and Emon Medichem Pvt Ltd among others
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