The Cortisone Shots Market Size was valued at USD 2.74 Billion in 2023. The Global Cortisone Shots industry is projected to grow from USD 2.95 Billion in 2024 to USD 4.93 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.85% during the forecast period (2024 - 2032).
Also known as cortisone injections, cortisone shots are used to relieve pain and inflammation in case of injury to the joints or other parts of the body. They are most commonly used to treat inflammation at the joints such as knee, spine, ankle, elbow, hip, shoulder and wrist, and are usually administered in a clinical setting with the doctor’s approval. Cortisone injections have a similar anti-inflammatory action to other corticosteroids. It is composed of corticosteroid medication and a local anesthetic. Due to the potential side effects of cortisone shots, the number of doses administered to a patient is limited. Major indications for the use of cortisone shots are arthritis, skin diseases, tendinitis, and other sport injuries.
In November 2022, Anika Therapeutics, Inc., a worldwide firm specializing in preserving joints, has reported that Cingal® successfully achieved its main objective in a Phase III Study (Cingal 19-01). The study showed that Cingal® was superior to triamcinolone hexacetonide (TH) steroid alone in the 26 weeks following therapy. The Cingal 19-01 Phase III study is the third fully completed Phase III research of Cingal. It has shown superiority above both its active ingredients and placebo, as indicated by prior studies. Throughout the three Phase III studies that have been completed, Cingal exhibited an average pain improvement of 71% compared to the initial condition. Additionally, an average of 91% of the participants who received Cingal were considered to be Responders. Cingal is a composite product consisting of cross-linked hyaluronic acid (HA) that has been scientifically demonstrated to offer enduring pain relief for a period of at least 6 months. Additionally, it contains a TH steroid that provides rapid but temporary pain relief. Both components of Cingal have received approval for commercial distribution in the United States, specifically for the treatment of knee osteoarthritis (OA) pain. Cingal is presently distributed in over 35 countries worldwide, excluding the United States. Anika plans to collaborate with the U.S. Food and Drug Administration (FDA) in the upcoming months to discuss the necessary actions for obtaining regulatory approval in the United States. Simultaneously, Anika is investigating the possibility of promoting Cingal through business collaborations in the United States and specific Asian markets. These endeavors will provide information for determining the further actions, including whether and in what manner to proceed with another clinical trial in the United States.
Rising prevalence of chronic diseases such as rheumatoid arthritis, tendinitis, and bursitis, increasing number of injuries to the joints, muscles and tendon, and the presence of key players in the market are important driver that accelerate the growth of the market. Rising geriatric population is another key driver for the market growth due to increasing prevalence of arthritis among the elderly. However, cortisone shots exhibit a number of disadvantages such as damage to the tendons, ligaments, and articular cartilage, thus restricting the growth of the market.
World Health Organization, Centers for Disease Control and Prevention (CDC), European Society of Clinical Microbiology and Infectious Diseases, U.S. National Library of Medicine, National Organization for Rare Disorders, The International Society for Human and Animal Mycology, Expert Interview Market Research Future Analysis, Annual report, White paper, Company Presentation
Research Methodology
Source: World Health Organization, Centers for Disease Control and Prevention, European Society of Clinical Microbiology and Infectious Diseases, U.S. National Library of Medicine, National Organization for Rare Disorders, The American Autoimmune Related Diseases Association, The International Society for Human and Animal Mycology, Expert Interview Market Research Future Analysis, Annual report, White paper, Company Presentation
Segments
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.
Regional Analysis of the Global Cortisone Shots Market
America acquires the first position in the market for cortisone shots owing to the rising prevalence of various types of allergies, arthritis, tendinitis, and others, and rising demand for corticosteroid injection in the U.S. According to the Center for Disease Control and Prevention, an estimated 78 million i.e. 26% of the U.S. adults aged 18 years or older are projected to have doctor-diagnosed arthritis by 2040. Additionally, the prevalence of tendinitis among athletes is found to be increasing from last few years in the U.S.
Europe is the second largest market for cortisone shots owing to the rising prevalence of rheumatoid arthritis in European countries, and availability of funds for research and development activities. Also, rising prevalence of allergic conditions such as asthma, food allergy, and anaphylaxis, increasing demand for diagnostic services and rising awareness about the use of cortisone injections for the treatment of tendinitis fuels the market growth.
The market in Asia Pacific is expected to grow at the fastest pace and is driven by the rising prevalence of diabetes, obesity, which act as risk factors for rheumatoid and osteoarthritis which is further posed to propel the growth of the market. Furthermore, rising awareness about sport injuries and the use of cortisone shots for their treatment, influences the growth of the market positively.
The Middle East & Africa also show a steady rise in the market owing to high prevalence of chronic diseases such as obesity and diabetes, and improving healthcare infrastructure. Increasing demand for new treatment options for sport injuries also influences the market growth in the Middle East & African countries.
Key Players in the Global Cortisone Shots Market
Some of the key players in this 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.
Intended Audience
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
