The global betamethasone sodium phosphate market is projected to witness a CAGR of 6.51% during the forecast period 2024-2031, growing from USD 607.2 million in 2023 to USD 1005.67 million in 2031F. The market’s growth is attributed to the increasing prevalence of arthritis and allergies.
The global betamethasone sodium phosphate market demand is rising owing to the increasing prevalence of various health conditions, including joint and tendon problems, arthritis, and skin problems. Betamethasone sodium phosphate is commonly used for injections to treat such conditions. It inhibits demargination and neutrophil apoptosis along with inflammatory transcription factors such as NF-Kappa B. It inhibits phospholipase A2, resulting in reduced formation of arachidonic acid derivatives. Corticosteroids such as betamethasone can act through both genomic and non-genomic pathways. The nongenomic pathways can elicit a faster response by modulating monocyte activity, T-cells, and platelets through the utilization of existing second messengers and membrane-bound receptors. Whereas the genomic pathways are slower and occur only after the glucocorticoids activate the glucocorticoid receptors, initiating the downstream effects that allows the transcription of various anti-inflammatory genes such as tyrosine amino transferase (TAT), IL-1-receptor antagonist, and phosphoenolpyruvate carboxykinase (PEPCK).
The rising cases of different types of arthritis are providing lucrative growth opportunities to the market. For instance, the Centre for Disease Control and Prevention estimates that approximately 5.4% of the adults (from age 18 to 44 years) in the United States have reported arthritis from 2019-2021. The increase in number of cases of arthritis is boosting the requirement for betamethasone sodium phosphate as it is administered intra-articularly in combination with betamethasone acetate injectable suspension for short term in patients with acute gouty arthritis, rheumatoid arthritis, acute nonspecific tenosynovitis, synovitis of osteoarthritis, epicondylitis, and acute and subacute bursitis. Thus, propelling the demand for betamethasone sodium phosphate and augmenting the expansion of the market.
Rising Requirement for Betamethasone Sodium Phosphate Injections Boosts Market Growth
Betamethasone sodium phosphate injections are steroid drugs used for treating various conditions associated with inflammation, including Crohn’s disease, arthritis, ulcerative colitis, allergies, and asthma. The increasing prevalence of asthma is propelling the requirement for these injections. For instance, the American College of Allergy, Asthma and Immunology estimates that 7.7% of Americans (24.9 million individuals) suffered from asthma 2023. Of these, approximately 4.6 million are children and 20.2 million are adults. Injections are used for treating different types of disorders, including issues related to the nervous system, blood, liver, skin, and eye. The active pharmaceutical ingredient used in these injections is betamethasone sodium phosphate. Thus, bolstering the demand for the product and aiding the market expansion.
These injections are generally administered when the patient cannot consume the oral form of the medication. They are given to pregnant women who are at risk of delivering preterm to reduce the risk of development of breathing problems in the fetus. Furthermore, betamethasone is a moderately potent glucocorticoid steroid with immunosuppressive and anti-inflammatory properties. Unlike other drugs that have these properties, betamethasone is not responsible for causing the retention of water. It is sometimes used in conjunction with antihistamine to reduce irritation. Thus augmenting the requirement for these injections and boosting the global betamethasone sodium phosphate market demand.
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Rising Cases of Rheumatoid Arthritis Facilitate Market Expansion
The rise in the number of cases of rheumatoid arthritis is positively influencing the expansion of the market. The Center for Disease Control and Prevention estimated that approximately one in four or 26% of adults aged 45-64 have arthritis. The increase supports the expansion of the market as betamethasone sodium phosphate finds applications in various medications that are used to treat inflammation associated with rheumatoid arthritis. Betamethasone sodium phosphate encapsulated in poly (D, L- glycolic/ lactic acid) nanoparticles works effectively in the case of rheumatoid arthritis. They aid in decreasing soft tissue swelling and paw inflammation and relieve inflammatory response by decreasing the number of inflammatory cells in the joints. Thus, this propels the requirement for betamethasone sodium phosphate to manage the inflammation caused by rheumatoid arthritis and augment the market’s growth.
North America Accounts for a Significant Share of the Market
The strong presence of various leading market players, the rising requirement for betamethasone sodium phosphate, owing to the increasing prevalence of various health conditions, such as arthritis and allergic disorders, and rising investments by major research institutions towards research activities are the factors contributing towards the dominance of North America in global betamethasone sodium phosphate market. For instance, the OrthoCarolina Research Institute, Inc., United States, is conducting an interventional study for determining if the corticosteroid injection (betamethasone) modifies the course of De Quervain’s Tenosynovitis in comparison to a toradol injection (Ketorolac). The study is estimated to conclude in December 2024. Rise in number of such studies will augment the demand for betamethasone sodium phosphate as they will aid researchers and scientists in determining the safety and efficacy of the medications derived from the chemical. Moreover, the increasing prevalence of asthma in various countries in North America is further boosting the requirement for betamethasone sodium phosphate.
Rising Demand for Solid Form of Betamethasone Sodium Phosphate Boosts Market Size
The increasing requirement for solid betamethasone sodium phosphate can be attributed to various product benefits, including ease of handling. The cost efficiency offered by the product due to easy transportation and distribution further augment the popularity of solid form of betamethasone sodium phosphate. Additionally, they are preferred by the pharmaceutical industry for formulating injections and tablets. The pharma industry’s rapid expansion due to the increasing prevalence of various diseases is further propelling the demand for betamethasone sodium phosphate. The European Federation of Pharmaceutical Industries and Association estimates that in 2021, Europe accounted for 23.4% of the world pharmaceutical sales whereas North America accounted for 49.1%. Thus, it supports the expansion of the pharmaceutical industry in various regions and boosts the demand for various pharma products, including those that contain betamethasone sodium phosphate, augmenting the expansion of the market.
Betamethasone Sodium Phosphate with More than 99% Purity Dominates Market Share
The rising requirement for betamethasone sodium phosphate with more than 99% purity can be attributed to the growing prevalence of various conditions that cause inflammation. Betamethasone sodium phosphate binds to the intracellular glucocorticoid receptors and later binds to the DNA to modify gene expression. The disodium salt of 21-phosphate ester of betamethasone has anti-inflammatory, metabolic, and immunosuppressive actions. It inhibits the synthesis of various inflammatory mediators and induces the synthesis of anti-inflammatory proteins. As a result, an overall reduction in autoimmune reactions and chronic inflammation is witnessed.
Due to these properties of betamethasone sodium phosphate, the demand for the chemical with more than 99% purity is increasing from the pharmaceutical sector, bolstering the segment’s expansion. Additionally, the rapid expansion of the pharmaceutical industry in various regions across the globe is further providing lucrative growth opportunities to the market. For instance, Invest India estimates that the pharmaceutical industry in the country will reach a value of USD 130 billion by 2030. The growth of the pharma industry will propel the requirement for betamethasone sodium phosphate with more than 99% purity and provide lucrative growth opportunities to the market.
Future Market Scenario (2024 – 2031F)
The rising efforts by various leading players of global betamethasone sodium phosphate market and research institutions are expected to evaluate the effects of betamethasone sodium phosphate for treating various conditions will provide lucrative growth opportunities to the market. For instance, Thammasat University, Thailand, is conducting an interventional study to compare the efficacy of intra-articular corticosteroid injection of Triamcinolone acetonide and Betamethasone (Diprospan) for treating knee osteoarthritis. The eligibility criteria for patient selection includes symptomatic primary knee osteoarthritis. The study is expected to conclude in June 2024. Increasing investments towards such studies will boost the demand for betamethasone sodium phosphate over the forecast period. Furthermore, the expansion of the market will also be supported by the increase in cases of arthritis in various regions across the globe and rising utilization of betamethasone sodium phosphate for treating inflammation and severe allergies, among others.
Report Scope
“Betamethasone Sodium Phosphate Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global betamethasone sodium phosphate market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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