Skin disease is one of the leading causes of the increasing global disease burden, affecting millions of people worldwide.
- Triamcinolone is basically used to treat the inflammation caused by many conditions that include allergic reactions, eczema, and psoriasis. Aging, environmental, and genetic factors result in the development of a diverse number of skin diseases.
- As people age, their risk of developing skin-related disorders increases, due to factors, such as changes in the connective tissue, reduction in the skin's strength and elasticity, and reduction in secretions from sebaceous glands.
- Hence, the rising cases of skin disease and increasing levels of awareness are expected to drive the market studied. However, factors, such as adverse side effects associated with the product, may have a negative impact on the studied market's growth.
Key Market Trends
Allergies Segment is Expected to Show Better Growth in the Forecast Years
Based on application, the market studied is segmented into eczema, dermatitis, allergies, psoriasis, and other applications. Allergy tends to be more common in children as compared to adults. Triamcinolone works by controlling inflammation and calming overactive immune systems. It may be taken for a short-term or a long-term basis, depending on the severity of the condition, as it reduces the swelling, itching, and redness that occur due to allergy. According to the BSACI (British Society for Allergy and Clinical Immunology), in the United Kingdom, the prevalence of diseases, such as allergic rhinitis (one in five), asthma (one in three), and eczema (one in six), are quite high, which is expected to fuel the increasing demand for triamcinolone ointment over the forecast period.
North America holds the Largest Share in the Triamcinolone Ointment Chlorofluorocarbons Market
The triamcinolone ointment chlorofluorocarbons market holds the largest share in the North American region, due to the increasing healthcare expenditure, awareness about skin diseases, and the strong presence of major companies. An increasing number of skin cancer cases have been also found in the United States. According to the American Cancer Society, in 2020, around 6,850 people are expected to die of melanoma in the United States. Hence, with the increasing incidence of dermatological diseases and well-developed infrastructure, the market studied is expected to grow in the forecast period.
Many new players have been emerging in this market studied, as a result of a number of growth opportunities. The global players into the triamcinolone ointment chlorofluorocarbons market are Akorn Inc., Bristol Myers Squibb Company, Cosette Pharmaceuticals, Inc., Glenmark Pharmaceuticals, Lupin Limited, Mylan N.V., Novartis International AG, Sun Pharmaceutical Industries Limited, and Taro Pharmaceutical Industries.
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