BETAMETHASONE ACETATE MARKET ANALYSIS

Betamethasone acetate is a white to off-white, odorless powder that resolidifies at approximately 165°C, decomposes and remelts at approximately 200°C to 220°C. It is practically insoluble in water, freely soluble in acetone, and soluble in alcohol and chloroform. The formula for betamethasone acetate is C24H31FO6 and it has a molecular weight of 434.50. Chemically, it is 9-Fluoro-11β, 17, 21-trihydroxy-16β-methylpregna-1, 4-diene-3, 20-dione 21-acetate.

Global betamethasone acetate market is estimated to be valued at US$ 421.4 million in 2022 and is expected to exhibit a CAGR of 4.8% during the forecast period (2022-2030).

Analysts’ Views on Global Betamethasone Acetate Market:

The betamethasone acetate market's growth can be hindered by the presence of alternative drugs for betamethasone acetate, such as betamethasone dipropionate 0.05% ointment. The key players in the market are focusing on inorganic strategies such as product launches, which are an alternative to betamethasone acetate. For instance, in March 2020, Lupin, a pharmaceutical company, announced the launch of Betamethasone Dipropionate Ointment USP, 0.05% alternative for betamethasone acetate

Figure 1.Global Betamethasone Acetate Market Share (%), by Formulation, 2022

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Global Betamethasone Acetate Market- Driver

The increasing prevalence of diseases such as multiple sclerosis

The betamethasone acetate is used to treat various disease conditions such as multiple sclerosis. Thus increasing prevalence of multiple sclerosis disease increase the market growth over the forecast period. For instance, in November 2020, according to an article published by National Library of Medicine, in 2020, the global prevalence of multiple sclerosis was 35.9 per 100,000 people which was increased by 30% than in 2013.

Figure 2. Global Betamethasone Acetate Market Share (%), by Region, 2022

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Global Betamethasone Acetate Market- Regional Analysis

Among all regions North America region is expected to dominate the market over the forecast period. This is attributed due to the North America hold 37.8% market share and increase in the use of intramuscular suspension for treatments of various disease such as ophthalmic disease in North America region. For instance, on 19 December 2022, according to data provided by Centers for Disease Control and Prevention (CDC), Approximately 12 million people over the age of 40 in the United States are visually impaired, including 1 million blind, 3 million with corrected vision, and 8 million with uncorrected refractive error.

The Europe region is expected to second largest region over the forecast period. Due to increasing prevalence of dermatological disease in Europe. For instance, in March 2022, according to article published by National Library of Medicine, in 2021, 185 103 774 individuals in Europe affected by dermatological condition or disease.

Global Betamethasone Acetate Market– Impact of Coronavirus (COVID-19) Pandemic

Coronavirus disease 2019 (COVID-19) is a highly contagious infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), according to the World Health Organization (WHO) as of October 10, 2022, 44,614,437 people are affected worldwide.

However, the COVID-19 pandemic had a positive impact on the betamethasone acetate market due to the increasing risk of COVID-19.  For instance, according to the data published in March 2022, by Washington University School of Medicine, COVID-19 patients are extremely at higher risk of experiencing symptoms such as pain, numbness and tingling in the hands and feet, which, in turn, increased the sales of betamethasone acetate drugs, thus positively impacting the global betamethasone acetate market growth.

Global Betamethasone Acetate Market Segmentation:

The global betamethasone acetate market report is segmented into Formulation, Route of Administration, Application, Age Group, and Distribution Channel

Based on Formulation, the market is segmented into suspension, ointment, and gel. Out of which, suspension segment is expected to dominate the betamethasone acetate market during the forecast period and this is attributed due to increase in the usage of corticosteroids suspension.

Based on Route of Administration, the market is segmented into an intramuscular, intra-articular, and intradermal. Out of which, intramuscular segment is expected to dominate the market over the forecast period and this is attributed due to increase in the use of intramuscular suspension for treatments of various disease such as renal disease.

Based on Application, the betamethasone acetate market is segmented into respiratory disease, renal disease, gastrointestinal disease, ophthalmic disease, dermatological disease, and others. Dermatological disease segment is expected to dominate the market over the forecast period and this is attributed to the increase in usage of betamethasone acetate drugs to treat skin condition such as inflammation.

Based on Age group, the betamethasone acetate market is segmented into pediatric and geriatric. Of which, geriatric segment is expected to dominate the market over the forecast period and this is attributed to the increase in usage of betamethasone acetate drug to various disease in adults such as renal disease, respiratory disease.

Based on Distribution Channel, the betamethasone acetate market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. Of which, hospital pharmacies segment is expected to dominate the market over the forecast period and this is attributed to the increase in number of hospital pharmacies.

Among all segmentation, age group segment has highest potential due to high demand of betamethasone acetate products in geriatric population. For instance, in February 2021, according to an article published by Economic Research Institute for ASEAN and East Asia (ERIA), geriatric Population in Asia nearly increase up to 956 million triple than 2015 population. More than 60% of older people in the world will live in Asia.

Global Betamethasone Acetate Market Cross Sectional Analysis:

In distribution channel segment, hospital pharmacies held as a dominant segment in North America region due to the increasing number of hospital pharmacies. For instance, in January 2022, according to data provided by the National Association of Pharmacy Regulatory Authorities, there were 11,814 pharmacies in Canada till January 2022.

In age group segment, geriatric segment is dominant in Asia Pacific region due to increasing number of geriatric population. For instance, in June 2022, according to data provided by the U.S. Census Bureau, as of 2020, Asia Pacific had over 4.5 billion people (including China and India, each with over 1 billion people), accounting for more than half of the world's population. There are an estimated 414 million Asians over the age of 65, about 20% more than the total the U.S. population (331.4 million) and predicted that by 2060, over 1.2 billion Asians will be over 65 years old.

Global Betamethasone Acetate Market: Key Developments

In April 2022, Scilex Holding Company, a subsidiary of Sorrento Therapeutics, Inc., announced the expansion of its direct distribution network to national and regional wholesalers and pharmacies. The expansion of distribution network helps to increase product sale in all regions thus increase the overall impact on market growth.

Global Betamethasone Acetate Market: Restraint

The side effects of betamethasone acetate

The major factors that can hamper growth of the global betamethasone acetate market over the forecast period include product side effects, government restriction regulating safety, and efficacy of betamethasone acetate. For instance, in November 2022, according to an article published by Mayo Clinic, betamethasone acetate had various side effects such as dry mouth, fever, severe or sudden headache and others

Global Betamethasone Acetate Market: Key Players

Major players operating in the global betamethasone acetate market include Merck & Co., Inc., American Regent, Inc., McKesson Medical-Surgical Inc., GNHIndia.com, Lexicon Medical Supply, Medline Industries, Inc., Caspian Tamin Pharmaceutical Co., Sandoz Canada Inc, NorthWestPharmacy.com Inc., Medisca Inc, Exela Pharma Sciences, LLC, Sanofi Pasteur Inc., Sorrento Therapeutics Inc.