The global Mometasone Furoate Market is estimated to be valued at US$ 1273.44 Mn or in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mometasone Furoate is a synthetic corticosteroid used to reduce skin swelling, redness and itching caused by topical corticosteroids. It come in various forms like creams, ointments and lotions used to treat skin inflammatory conditions like eczema, psoriasis and dermatitis. Its anti-inflammatory properties make it an effective treatment option for these conditions.
Market key trends:
Growing prevalence of chronic skin conditions like psoriasis, eczema and dermatitis across the globe is a key driver for mometasone furoate market. According to the National Eczema Association, over 31 million Americans have eczema. Similarly, as per National Psoriasis Foundation, over 125 million people worldwide are affected by psoriasis. Rising awareness and availability of topical treatments like mometasone furoate for such chronic skin diseases is further fueling the market growth. Moreover, continuous pipeline of new product launches with improved formulations and delivery systems by key players is also boosting the market growth. For instance, in 2019, Glenmark Pharmaceuticals launched Mometasone Furoate Lotion for the treatment of eczema, psoriasis and similar chronic skin conditions.
Market key trends:
The mometasone furoate market has been witnessing rising growth owing to the increasing demand for topical corticosteroids for treating various skin infections and diseases. Mometasone furoate is increasingly being used for treating atopic dermatitis, eczema, and psoriasis due to its high efficacy and safe profile. Moreover, the development of moisturizing creams and ointments containing mometasone furoate has further boosted its adoption.
SWOT Analysis
Strength: High efficacy in treating various dermatological conditions. Safe profile with less side effects compared to other corticosteroids.
Weakness: Availability of alternative corticosteroids. Requirement of prescription.
Opportunity: Large patient pool suffering from atopic dermatitis, eczema and psoriasis. Increasing awareness about safe topical therapies.
Threats: Stringent regulatory approvals. Entry of generic manufacturers.
Key Takeaways
The global Mometasone Furoate Market Share is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of atopic dermatitis, eczema and psoriasis. The market size for 2023 is estimated to be US$ 1273.44 Mn.
Regional analysis: North America dominates the global mometasone furoate market owing to the rising cases of skin diseases. Asia Pacific is anticipated to exhibit fastest growth with increasing medication awareness and healthcare expenditure.
Key players operating in the mometasone furoate market are Cipla, Teva Pharmaceuticals, Glenmark Pharmaceuticals, AdvaCare Pharma, Medlab Pharmaceuticals Private Limited, Dermocare Laboratories, Iva Healthcare Private Limited, Unilab Chemicals & Pharmaceuticals Pvt Ltd, Organon group of companies, Cosette Pharmaceuticals, Taro Pharmaceutical Industries Ltd., and Hikma Pharmaceuticals
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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