Steroids are man-made drugs that are divided into two types: anabolic and corticosteroids. Anabolic steroids are the most frequent type of steroid, and they are used to treat medical issues such as late puberty and muscle loss in cancer and AIDS patients. However, anabolic steroids are most commonly used, albeit illegally, by athletes to improve their performance.
The global corticosteroids market is expected to grow from $4.85 billion in 2021 to $5.05 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
The corticosteroids therapy market consists of sales of synthetic corticosteroid drugs used to treat a wide variety of disorders, including asthma, arthritis, skin conditions, autoimmune diseases and lowers inflammation in the body. Corticosteroids and their biologically active synthetic derivatives differ in their metabolic (glucocorticoid) and electrolyte-regulating (mineralocorticoid) activities. These agents are employed at physiological doses for replacement therapy when endogenous production is impaired. The market consists of revenue generated by the company’s manufacturing of synthetic corticosteroids by the sales of these products.
Drivers Of high steroids use
- Increase in obesity rates
Increased occurrences of bone and joint diseases, rising obesity rates around the world, changing and unhealthy lifestyles of people, and rising government awareness programmes for joint disorders are some of the factors that will propel the steroid injections market forward in the forecast period of 2022-2029. Growing demand for steroid injections, together with advancements in injectable treatment, will, on the other hand, fuel different prospects that will propel the steroid injections market forward over the forecast period.
- Increasing trends among youngsters for bodybuilding is creating robust development
One of the major factors driving the global steroids market is the growing popularity of bodybuilding among young people. Steroids are a performance-enhancing substance that is utilised all over the world. The demand for steroids has expanded dramatically as a result of the expansion in sporting events, which is having a favourable impact on the global market for steroids. Steroids can enhance pubic and facial hair growth. It not only improves attention and ambition, but it also deepens the voice. As a result, steroids and
pharmatropin are beneficial to those who have excessively feminine hormones.
Opportunities
One of the major factors driving the global steroids market is the growing popularity of bodybuilding among young people. Steroids are a performance-enhancing substance that is utilised all over the world. The demand for steroids has expanded dramatically as a result of the expansion in sporting events, which is having a favourable impact on the global market for steroids. Steroids can enhance pubic and facial hair growth. It not only improves attention and ambition, but it also deepens the voice. As a result, steroids are beneficial to those who have excessively feminine hormones.
Restraints/Challenges
Steroid use comes with a slew of negative side effects, including fast mood changes. Heart problems, reproductive troubles, shrinking testicles, and excessive hair growth in women, as well as the negative side effects connected with the use of the medication, as well as tight regulations, are expected to stymie the growth of the steroid
The global steroids market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are increasing craze of bodybuilding among youngsters, muscle loss of patients suffering from AIDS & cancer, and increasing number of various medical issues, such as late puberty.
