Medicaments Containing Corticosteroid Hormones Market

The article discusses the global market trends for medicaments containing corticosteroid hormones, forecasting an upward consumption trend with a CAGR of +3.3% from 2022 to 2030. The market volume is expected to reach 383K tons by 2030, with a market value projected to increase to $120.5B by the end of 2030. Countries like China, Denmark, and the United States are key consumers and producers in this market. The article also highlights trends in production, imports, and exports of these medicaments, with notable fluctuations and growth rates observed over the years.

Market Forecast

Driven by increasing demand for medicaments containing corticosteroid hormones worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 383K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $120.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Medicaments Containing Corticosteroid Hormones

In 2022, global medicaments containing corticosteroid hormones consumption fell to 296K tons, dropping by -3.8% compared with 2021 figures. In general, the total consumption indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.6% against 2020 indices. Over the period under review, global consumption reached the peak volume at 324K tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

The global medicaments containing corticosteroid hormones market value dropped to $90B in 2022, waning by -5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the maximum level at $95.4B in 2021, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (44K tons), Denmark (43K tons) and the United States (24K tons), together accounting for 37% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Denmark (with a CAGR of +24.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Denmark ($27.2B), Japan ($17.3B) and the United States ($14.6B) were the countries with the highest levels of market value in 2022, together accounting for 66% of the global market.

Denmark, with a CAGR of +24.7%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of medicaments containing corticosteroid hormones per capita consumption was registered in Denmark (7,278 kg per 1000 persons), followed by Belgium (556 kg per 1000 persons), Turkey (222 kg per 1000 persons) and France (152 kg per 1000 persons), while the world average per capita consumption of medicaments containing corticosteroid hormones was estimated at 37 kg per 1000 persons.

In Denmark, medicaments containing corticosteroid hormones per capita consumption increased at an average annual rate of +24.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Belgium (+1.9% per year) and Turkey (+10.9% per year).

Production

World Production of Medicaments Containing Corticosteroid Hormones

In 2022, production of medicaments containing corticosteroid hormones increased by less than 0.1% to 278K tons, rising for the second year in a row after two years of decline. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 25% against the previous year. Over the period under review, global production hit record highs at 304K tons in 2018; however, from 2019 to 2022, production failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones production rose slightly to $43.7B in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 13%. Over the period under review, global production hit record highs at $49.6B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (41K tons), Denmark (36K tons) and India (22K tons), together accounting for 36% of global production.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +23.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Medicaments Containing Corticosteroid Hormones

In 2022, overseas purchases of medicaments containing corticosteroid hormones decreased by -2% to 158K tons for the first time since 2015, thus ending a six-year rising trend. In general, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.1% against 2015 indices. The pace of growth was the most pronounced in 2018 with an increase of 16%. Global imports peaked at 162K tons in 2021, and then fell in the following year.

In value terms, medicaments containing corticosteroid hormones imports fell to $50.2B in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.9% against 2015 indices. The growth pace was the most rapid in 2018 when imports increased by 14%. Over the period under review, global imports attained the maximum at $50.9B in 2021, and then contracted slightly in the following year.

Imports By Country

In 2022, the United States (20K tons), followed by the UK (12K tons), France (11K tons) and China (7.8K tons) represented the key importers of medicaments containing corticosteroid hormones, together mixing up 32% of total imports. The following importers - Denmark (7.1K tons), Germany (6.5K tons), Belgium (5.4K tons), Italy (5.1K tons), Russia (4.9K tons), the Netherlands (4.3K tons), Spain (4.1K tons), Brazil (3.9K tons) and Japan (3.8K tons) - together made up 28% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Denmark (with a CAGR of +34.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($12.6B) constitutes the largest market for imported medicaments containing corticosteroid hormones worldwide, comprising 25% of global imports. The second position in the ranking was held by China ($3.4B), with a 6.7% share of global imports. It was followed by France, with a 5.6% share.

In the United States, medicaments containing corticosteroid hormones imports expanded at an average annual rate of +7.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+9.9% per year) and France (+6.8% per year).

Import Prices By Country

In 2022, the average medicaments containing corticosteroid hormones import price amounted to $316,778 per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2020 when the average import price increased by 6.4%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($624,338 per ton), while Russia ($136,664 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Medicaments Containing Corticosteroid Hormones

In 2022, approx. 141K tons of medicaments containing corticosteroid hormones were exported worldwide; with an increase of 6.4% against 2021 figures. The total export volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 9% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, medicaments containing corticosteroid hormones exports shrank to $40.9B in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.6% against 2015 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 19%. The global exports peaked at $41B in 2021, and then declined modestly in the following year.

Exports By Country

In 2022, Italy (17K tons), France (14K tons), Belgium (12K tons), India (12K tons), Germany (12K tons) and Pakistan (8.9K tons) represented the main exporter of medicaments containing corticosteroid hormones in the world, constituting 53% of total export. The following exporters - China (5.6K tons), the Netherlands (5.5K tons), Spain (5.5K tons), the United States (5.3K tons), Sweden (5K tons), Ireland (4.5K tons) and the UK (4.4K tons) - together made up 25% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Pakistan (with a CAGR of +20.8%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest medicaments containing corticosteroid hormones supplying countries worldwide were Italy ($6B), France ($4.9B) and Germany ($4.6B), together comprising 38% of global exports. Belgium, the Netherlands, the UK, the United States, Sweden, Ireland, Spain, China, India and Pakistan lagged somewhat behind, together accounting for a further 38%.

In terms of the main exporting countries, China, with a CAGR of +24.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average medicaments containing corticosteroid hormones export price amounted to $290,536 per ton, declining by -6.2% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12%. Over the period under review, the average export prices reached the peak figure at $309,887 per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($576,986 per ton), while Pakistan ($12,110 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform