Addison’s Disease Treatment Market Projected to Garner Significant Revenues by 2024
Addison's disease is characterized by an uncommon disorder with insufficient production of the steroid hormones known as aldosterone and cortisol from the cells of adrenal glands. Moreover, indications of Addison's disease are known as primary adrenal insufficiency, resulting from insufficient production of two hormones cortisol and aldosterone. Symptoms associated with Addison’s disease include gastrointestinal abnormalities, fatigue, and changes in skin color. Furthermore, mood changes and behavior may occur in some individuals with Addison's disease.
The need for treatment of Addison’s disease is growing due to rising prevalence of disease, increasing income in developed economies, and growing awareness. Furthermore, rising health expenditure is propelling the global market. Currently, the U.S. and EU5 countries are the key markets for Addison’s disease treatment, where the well-being of life with symptoms that are tough to manage have become controllable. The Addison’s disease treatment market is expected to expand at a high growth rate during the forecast period. Moreover, lack of proper diagnosis acts as a restraint of the market, especially in developing countries.
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Addison’s disease requires lifelong treatment with steroid replacement therapy. Glucocorticoid and mineralocorticoid replacement therapy is currently most widely used for the treatment of Addison's disease. Additional, hydrocortisone is one of the most preferred drugs belonging to the glucocorticoid class due to its short half-life which enables it to be quickly absorbed into the blood stream. Furthermore, long acting glucocorticoids such as dexamethasone and prednisone are beneficial for once daily dosing schedule. These do not replicate the physiological daily rhythm of endogenous cortisol production in the body, which results in excess glucocorticoid levels overnight. Rarely prescribed fludrocortisone belongs to the mineralocorticoid class and is frequently prescribed along with hydrocortisone.
The Addison’s disease treatment market can be segmented based on type of drug class, distribution channel, and region. In terms of drug class, the Addison’s disease treatment can be categorized into glucocorticoid and mineralocorticoid. Glucocorticoid can be categorized into hydrocortisone, dexamethasone, and prednisone. The mineralocorticoid segment can be sub-segmented into fludrocortisone. Based on distribution channel, the market can be segmented into hospital pharmacy, retail pharmacy, and e-commerce.
In terms of region, the Addison’s disease treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the largest market for Addison’s disease treatment owing to high concerns for human health and growing awareness. Additionally, the U.S. and Canada have been successfully utilizing Addison’s disease treatment. This is likely to boost the growth of the market in the region. Presence of well-established health care infrastructure, government initiatives in implementing Addison’s disease treatment, and constantly improving reimbursement scenario is projected to propel the market in North America. Europe was the second largest market for Addison’s disease treatment owing to enhanced health processes and implementation of high health care concerns in the region.
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Asia Pacific is expected to be the fastest growing market for Addison’s disease treatment. Major factors expected drive the Addison’s disease treatment market in the region are the large population and growing awareness about health, especially in India and China. Additionally, China and India are the top emerging markets in the region and would increasingly contribute to the growth of the Addison’s disease treatment. In Latin America, Brazil and Mexico are the countries that have significant potential for growth due to developing medical organization structure and rising disposable incomes.
Key players operating in the global Addison’s disease treatment market include Pfizer Inc., Boehringer Ingelheim GmbH, ViroPharma, Tocris Bioscience, GlaxoSmithKline plc, Merck KGaA, and Lupin Pharmaceuticals, Inc.