InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Adrenocortical Hormones API Market – (By Type (Dexamethasone Series, Betamethasone Series, Hydrocortisone Series & Others), By Application (Injectable Drugs, Oral Drugs, For External Use Drugs, Inhalation Drugs)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Adrenocortical Hormones API Market is valued at US$ 2.24 Billion in 2023, and it is expected to reach US$ 3.55 Billion by 2031, with a CAGR of 6.04 % during the forecast period of 2024-2031.
Adrenocortical hormones are steroid molecules that are made and released by the adrenal cortex. These hormones are synthesized or extracted and used as an API in medications for numerous diseases. The worldwide adrenocortical hormones API market is seeing robust expansion, propelled by many important factors. Modern medicine and innovation have paved the way for better diagnostic tools, which can now identify adrenal illnesses and hormonal imbalances earlier and with more precision. Due to this, more people are able to access hormone replacement therapy and similar treatments. In addition, adrenocortical hormone APIs are in high demand in the pharmaceutical industry due to the increased diagnosis of hormonal abnormalities due to increased awareness and better diagnostic techniques. The adrenal cortex secretes massive quantities of androgens and corticosteroids. Contrarily, regular life expectancy can be restored for people with adrenal insufficiency via corticosteroid replacement therapy alone. Therefore, the market for adrenocortical hormones API is being driven by hormone functions, which is increasing the overall adrenocortical hormones. New prospects for market expansion arise as a result of the improvement of healthcare infrastructure and accessibility in developing nations. API industry expansion, the demand for this adrenocortical hormones API is driving its market demand.
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List of Prominent Players in the Adrenocortical Hormones API Market:
- Sanofi (France)
- GlaxoSmithKline (U.K.)
- Xianju Pharma (China)
- Teva (Israel)
- Piramal Pharma Solutions
- Guangzhou Tosun Pharmaceutical
- BCN Peptides
- Guangdong VTR Bio-Tech Co., Ltd,
- Symbiotec Pharmalab,
- Sun Pharmaceutical,
- Cipla,
- Hovione,
- Shandong Xinhua Pharmaceutical Company Limited,
- Steroid SpA,
- Junye Pharmaceutical Co., Ltd.,
- Avik Pharmaceutical,
- Tianjin Pacific Pharmaceutical Co., Ltd (TJPP)
- Shandong Sito Bio-technology CO., LTD.
- Other Market Players
Market Dynamics:
Drivers-
One major factor driving market demand is the increasing number of endocrine illnesses. These include Cushing’s syndrome and congenital adrenal hyperplasia, all of which necessitate the use of adrenocortical hormones in therapeutic interventions. There will be an even greater demand for these drugs as the world’s population ages since the elderly are more likely to suffer from hormonal and autoimmune diseases. Another important factor propelling market expansion is the continuous improvement of pharmaceutical technology, which makes hormone replacement therapies more effective and safer. The demand for adrenocortical hormones API is expected to rise as a result of the greater availability of therapeutic alternatives made possible by the global growth of healthcare infrastructure and higher spending on healthcare, which also contributes to the industry’s worldwide market growth.
Challenges:
Regulatory hurdles make it more difficult and expensive to bring new hormonal treatments to market by requiring copious paperwork, and adherence to strict safety and efficacy criteria is slowing down the adrenocortical hormones API growth. Complex biochemical processes are involved in the synthesis and manufacture of these APIs, which further increases costs and restricts market entrance to well-resourced firms. The expansion of the industry has also been slowed by the emergence of less harmful alternatives to traditional corticosteroid-based drugs, known as non-steroidal therapy.
Regional Trends:
The North American adrenocortical hormones API market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future because of rising industrialization and urbanization, which have expanded market opportunities in this area, which also happens to be the largest consumer of the product. Adrenocortical hormones API market share is being propelled by the increasing need for rising spending on pharmaceuticals and clearances from the FDA, which are all factors fueling this region’s expanding industry. Besides, Asia Pacific has a substantial market share because of the presence of important pharmaceutical manufacturers, the rise in the need for healthcare facilities, and injectable medications. The total market will benefit even more from the adoption of technology advancements.
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Recent Developments:
- In April 2021, Piramal Pharma Solutions (PPS) expressed its plan to purchase API manufacturer Hemmo Pharmaceuticals for a total of Rs 775 crore. Through this acquisition, PPS expanded its operations to include the development and production of peptide APIs. Hemmo was one of the few companies solely focused on manufacturing synthetic peptide APIs on a global scale.
Segmentation of Adrenocortical Hormones API Market-
By Type-
- Dexamethasone Series
- Betamethasone Series
- Hydrocortisone Series
- Others
By Application-
- Injectable Drugs
- Oral Drugs
- For External Use Drugs
- Inhalation Drugs
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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