Cortisone Shots are used to relieve pain and inflammation in case of injury to the joints or other parts of the body. They are most commonly used to treat inflammation at the joints such as knee, spine, ankle, elbow, hip, shoulder and wrist, and are usually administered in a clinical setting with the doctor’s approval. Cortisone injections have a similar anti-inflammatory action to other corticosteroids. It is composed of corticosteroid medication and a local anesthetic. Due to the potential side effects of cortisone shots, the number of doses administered to a patient is limited. Major indications for the use of cortisone shots are arthritis, skin diseases, tendinitis and other sport injuries.
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Rising prevalence of chronic diseases such as rheumatoid arthritis, tendinitis, and bursitis, increasing number of injuries to the joints, muscles and tendon, and the presence of key players in the market are important driver that accelerate the growth of the market. Rising geriatric population is another key driver for the market growth due to increasing prevalence of arthritis among the elderly. However, cortisone shots exhibit a number of disadvantages such as damage to the tendons, ligaments, and articular cartilage, thus restricting the growth of the market.
Regional Analysis of the Global Cortisone Shots Market:
America acquires the first position in the market for cortisone shots owing to the rising prevalence of various types of allergies, arthritis, tendinitis, and others, and rising demand for corticosteroid injection in the U.S. According to the Center for Disease Control and Prevention, an estimated 78 million i.e. 26% of the U.S. adults aged 18 years or older are projected to have doctor-diagnosed arthritis by 2040. Additionally, the prevalence of tendinitis among athletes is found to be increasing from last few years in the U.S.
Europe is the second largest market for cortisone shots owing to the rising prevalence of rheumatoid arthritis in European countries, and availability of funds for research and development activities. Also, rising prevalence of allergic conditions such as asthma, food allergy, and anaphylaxis, increasing demand for diagnostic services and rising awareness about the use of cortisone injections for the treatment of tendinitis fuels the market growth.
The market in Asia Pacific is expected to grow at the fastest pace and is driven by the rising prevalence of diabetes, obesity, which act as risk factors for rheumatoid and osteoarthritis which is further posed to propel the growth of the market. Furthermore, rising awareness about sport injuries and the use of cortisone shots for their treatment, influences the growth of the market positively.
The Middle East & Africa also show a steady rise in the market owing to high prevalence of chronic diseases such as obesity and diabetes, and improving healthcare infrastructure. Increasing demand for new treatment options for sport injuries also influences the market growth in the Middle East & African countries.
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Some of the key players in this market are Merck & Co., Inc. (U.S.), Pfizer (U.S.), Bristol-Myers Squibb Company (U.S.), Novartis AG (Germany), GlaxoSmithKline (U.S.), Pharmascience Inc. (U.S.), Farmabios SPA (Italy), AdvaCare Pharma (U.S.) and others.
Major TOC of Cortisone Shots Market:
- Report Prologue
2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
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