Cortisone Shots Market: Expanding Horizons with Rising Demand and Technological Advancements - Forecast to 2030
The Cortisone Shots Market is anticipated to reach USD 3.97 Billion by 2030 at 6.80% CAGR during the forecast period 2022-2030.
The global cortisone shots market has witnessed significant growth in recent years, driven by the increasing prevalence of inflammatory conditions and musculoskeletal disorders. Cortisone shots, also known as steroid injections, have emerged as a popular and effective treatment option for individuals grappling with pain and inflammation. This market overview explores the dynamics and trends shaping the cortisone shots market, with a focus on the role of steroid injections in addressing various medical conditions.
Steroid injections, commonly referred to as cortisone shots, are medical interventions involving the administration of corticosteroids directly into affected areas of the body. These injections provide potent anti-inflammatory effects, making them valuable in managing conditions such as arthritis, tendonitis, and bursitis. The cortisone shots market has witnessed a surge in demand as healthcare providers and patients alike recognize the benefits of this localized treatment approach.
The rise in sports-related injuries, coupled with the growing aging population, has contributed to the expanding application of cortisone shots. Athletes often turn to cortisone shot injections to expedite recovery from injuries and alleviate pain associated with overuse or strain. Moreover, individuals with chronic inflammatory conditions, including rheumatoid arthritis and osteoarthritis, find relief through targeted cortisone injections.
Major Key Players:
Some of the Cortisone Shots Companies 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.
Segment Analysis
The global cortisone shots market is segmented on the basis of indication, types of cortisone shots, and end user.
Based on the type, market is segmented into epidural steroid injection, trigger point injection, articular or joint injections, and others.
Based on the indication, the market is segmented into bursitis, rheumatoid arthritis, psoriatic arthritis, skin conditions, allergic reaction, and others.
Based on the end user, the market is segmented into clinics, sport medicine centers, pharmaceutical companies, hospitals, and others.
Regional Analysis
Owing to the growing prevalence of different forms of asthma, inflammation, tendinitis, and others, and increasing demand for corticosteroid injection in the U.S., America wins the first spot in the market for cortisone shots In comparison, the prevalence of tendinitis among athletes has been shown to rise in the U.S. over the last few years.
Thanks to the increasing prevalence of rheumatoid arthritis in European countries and the availability of funds for research and development activities, Europe is the second largest market for cortisone injections. Increased incidence of allergic disorders such as asthma, food allergy, and anaphylaxis, increased demand for diagnostic facilities, and increased understanding of the usage of cortisone injections for tendinitis care are also driving market development.
The Asia-Pacific market is projected to expand at the fastest rate, led by a growing prevalence of diabetes, obesity, which serves as risk factors for rheumatoid arthritis and osteoarthritis, which will further fuel market growth. In addition, the awareness of sports injuries and the use of cortisone shots for their recovery positively affects the development of the industry.
Thanks to the high incidence of chronic diseases such as obesity and diabetes and the expansion in healthcare facilities, the Middle East & Africa also showed a steady growth in the market. Growing need for alternative care solutions for sports injuries also impacts the Middle East & African countries' business growth.
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