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Hydrocortisone is the medical name of hormone, corticosteroid. Naturally corticosteroid is made by adrenal gland inside adrenal cortex. Medicinally, hydrocortisone is used in various conditions such as allergic reactions (itching, swelling, redness), arthritis, neurological conditions (multiple sclerosis), lupus, certain type of cancers (leukemia, lymphoma, and multiple myeloma) and nausea and vomiting associated with some chemotherapy drugs, to treat low hydrocortisone levels caused due to Addison’s disease, adrenocortical insufficiency, and different thyroid related complications.

Hydrocortisone Market - Market Dynamics

One of the major driver for growth of the hydrocortisone market is increasing incidence of disease such as cancer, allergic reactions, arthritis, thyroid disease, and others. International Agency for Research on Cancer in September 2018, released report titled GLOBOSCAN, which estimated latest data on cancer. According to the report, there were 18.1 million new cancer cases and 9.6 million cancer deaths in 2018, worldwide. One out of five men and one out of six women worldwide develop cancer during their lifetime, and one out of eight men and one out of 11 women die from the disease. Worldwide, the total number of people who are alive within 5 years of a cancer diagnosis, called the 5-year prevalence, is estimated to be 43.8 million.

However, several side effects associated with the use of hydrocortisone may inhibit the market growth. For instance, there is high chance of infection while utilizing hydrocortisone for reducing inflammation (swelling) in cancer patients as it prevents white blood cells from entering into site of inflammation which in turn may compromise ability to produce immune response in patients’ body after infection incidence.

Hydrocortisone Market - Regional Insights

On the basis of geography, hydrocortisone market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be dominant region in the hydrocortisone market during forecast period. This is owing to the fact that U.S. has highly valued healthcare spending for various disease including cancer, COPS/asthma, arthritis and allergic reactions. OECD data in 2016 suggests that U.S. has per capita healthcare expenditure of US$ 8,000. According to factsheet by Asthma and Allergy Foundation of America, there are more than 50 million U.S. citizens affected by the various types of allergies each year and it is 6th leading cause of chronic illness in the U.S. According to same source, in 2015, 8.2% of adults and 8.4% of children were diagnosed with hay fever. Asia Pacific region is expected to witness high growth over the forecast period. This is due to increasing number of deaths due to cancer in the region.  According to data given by International Agency for Cancer Research in 2018, the proportions of cancer deaths in Asia and in Africa is 57.3% and 7.3%, respectively.

Hydrocortisone Market - Competitive Landscape

Key players operating in the hydrocortisone market are AstraZeneca plc, GlaxoSmithKline plc, Merck & Co. Inc., Pfizer Inc., Sandoz AG (Novartis AG), Sanofi S.A, Actimis Pharmaceuticals, and others.

Hydrocortisone Market - Market Taxonomy

On the basis of product type, the global hydrocortisone market is segmented into:

  • Injection
  • Cream/Ointment
  • Tablet
  • Others

On the basis of indications, the hydrocortisone market is segmented into:

  • Adrenocortical Insufficiency
  • Allergic Conditions
  • Arthritis
  • COPD/Asthma
  • Cancer
  • Others

On the basis of distribution channel, the hydrocortisone market is segmented into:

  • Hospitals Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

On the basis of geography, the hydrocortisone market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users