Worldwide medicaments containing corticosteroid hormones market to grow at a 3.1% CAGR, reaching $101B by 2035, driven by sustained global demand.

IndexBox has just published a new report: World - Medicaments Containing Corticosteroid Hormones - Market Analysis, Forecast, Size, Trends And Insights.

The global market for medicaments containing corticosteroid hormones is on a sustained growth trajectory. In 2024, consumption reached 347,000 tons, valued at $71.9 billion, marking the fourth consecutive year of increase. The market is forecast to continue expanding, albeit at a decelerated pace, with a projected volume CAGR of +1.7% from 2024 to 2035, reaching 418,000 tons by 2035. In value terms, the market is expected to grow at a CAGR of +3.1%, reaching $101 billion (in nominal wholesale prices) by the end of 2035. Denmark, China, and Turkey were the largest consuming countries by volume in 2024, together accounting for 45% of global consumption. Denmark's consumption has grown at an extraordinary rate, with a CAGR of +60.1% from 2012 to 2024. In value terms, Denmark led the market at $27.8 billion, followed by the United States ($10.2B) and Japan. Denmark also had the highest per capita consumption globally at 13 kg per person. Global production increased by 13% to 337,000 tons in 2024, with Denmark, China, and India being the top producing countries, together comprising 42% of output. Denmark's production has seen remarkable growth, with a CAGR of +94.0% since 2012. International trade remains significant, with global imports slightly contracting to 180,000 tons ($50.8B) in 2024. The United States and Denmark were the largest importers by volume. Exports held steady at 169,000 tons, valued at $48 billion. France, Italy, and Pakistan were major exporters by volume, while Italy, France, and Germany led in export value. The average import price in 2024 was $282,787 per ton, while the average export price was $283,700 per ton, with significant price disparities between countries, reflecting differences in product types and market positioning.

Key Findings

• Global demand for corticosteroid hormone medicaments is rising
• Market volume growth is forecast to decelerate
• Volume is projected to reach 418K tons by 2035
• Market value is expected to grow at a CAGR of +3.1%
• The market value is projected to reach $101B by 2035

Market Forecast

Driven by increasing demand for medicaments containing corticosteroid hormones worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market volume to 418K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2024 to 2035, which is projected to bring the market value to $101B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Medicaments Containing Corticosteroid Hormones

In 2024, consumption of medicaments containing corticosteroid hormones increased by 9.5% to 347K tons, rising for the fourth year in a row after two years of decline. The total consumption volume increased at an average annual rate of +3.5% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume in 2024 and is likely to see steady growth in the immediate term.

The global medicaments containing corticosteroid hormones market revenue expanded notably to $71.9B in 2024, rising by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated moderate growth from 2012 to 2024: its value increased at an average annual rate of +4.8% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +77.9% against 2013 indices. Over the period under review, the global market reached the maximum level in 2024 and is likely to see steady growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were Denmark (79K tons), China (49K tons) and Turkey (28K tons), together comprising 45% of global consumption.

From 2012 to 2024, the biggest increases were recorded for Denmark (with a CAGR of +60.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Denmark ($27.8B) led the market, alone. The second position in the ranking was taken by the United States ($10.2B). It was followed by Japan.

In Denmark, the medicaments containing corticosteroid hormones market expanded at an average annual rate of +60.5% over the period from 2012-2024. In the other countries, the average annual rates were as follows: the United States (-1.1% per year) and Japan (-1.2% per year).

In 2024, the highest levels of medicaments containing corticosteroid hormones per capita consumption was registered in Denmark (13 kg per person), followed by Turkey (0.3 kg per person), the UK (0.1 kg per person) and Japan (0.1 kg per person), while the world average per capita consumption of medicaments containing corticosteroid hormones was estimated at less than 0.1 kg per person.

From 2012 to 2024, the average annual growth rate of the medicaments containing corticosteroid hormones per capita consumption in Denmark totaled +59.2%. In the other countries, the average annual rates were as follows: Turkey (+12.5% per year) and the UK (+5.7% per year).

Production

World's Production of Medicaments Containing Corticosteroid Hormones

In 2024, production of medicaments containing corticosteroid hormones increased by 13% to 337K tons, rising for the fourth consecutive year after two years of decline. Over the period under review, the total production indicated a strong increase from 2012 to 2024: its volume increased at an average annual rate of +5.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +32.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. Global production peaked in 2024 and is likely to see steady growth in the near future.

In value terms, medicaments containing corticosteroid hormones production soared to $67.6B in 2024 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Production By Country

The countries with the highest volumes of production in 2024 were Denmark (62K tons), China (46K tons) and India (33K tons), together comprising 42% of global production.

From 2012 to 2024, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Denmark (with a CAGR of +94.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World's Imports of Medicaments Containing Corticosteroid Hormones

In 2024, approx. 180K tons of medicaments containing corticosteroid hormones were imported worldwide; declining by -4.6% against the previous year's figure. Overall, total imports indicated moderate growth from 2012 to 2024: its volume increased at an average annual rate of +3.1% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +57.9% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 21%. Global imports peaked at 188K tons in 2023, and then shrank in the following year.

In value terms, medicaments containing corticosteroid hormones imports contracted slightly to $50.8B in 2024. Over the period under review, total imports indicated resilient growth from 2012 to 2024: its value increased at an average annual rate of +5.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +82.3% against 2012 indices. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Over the period under review, global imports reached the peak figure at $51.1B in 2023, and then contracted modestly in the following year.

Imports By Country

The United States (22K tons) and Denmark (19K tons) represented roughly 23% of total imports in 2024. It was followed by the UK (12K tons) and China (11K tons), together mixing up a 13% share of total imports. The following importers - France (6.9K tons), Germany (6.9K tons), Afghanistan (5.6K tons), Japan (5.2K tons), Spain (4.7K tons) and Belgium (4.7K tons) - together made up 19% of total imports.

From 2012 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Afghanistan (with a CAGR of +47.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($8.7B), China ($4.9B) and the UK ($3.8B) were the countries with the highest levels of imports in 2024, with a combined 34% share of global imports. France, Germany, Japan, Spain, Belgium, Denmark and Afghanistan lagged somewhat behind, together accounting for a further 25%.

Afghanistan, with a CAGR of +39.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average medicaments containing corticosteroid hormones import price stood at $282,787 per ton in 2024, picking up by 4.1% against the previous year. Over the last twelve-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 16%. Global import price peaked at $305,993 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($456,439 per ton), while Afghanistan ($7,192 per ton) was amongst the lowest.

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+17.7%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Medicaments Containing Corticosteroid Hormones

In 2024, global medicaments containing corticosteroid hormones exports reached 169K tons, remaining stable against the previous year. In general, total exports indicated strong growth from 2012 to 2024: its volume increased at an average annual rate of +6.6% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +114.6% against 2012 indices. The most prominent rate of growth was recorded in 2023 when exports increased by 19% against the previous year. The global exports peaked in 2024 and are expected to retain growth in the near future.

In value terms, medicaments containing corticosteroid hormones exports stood at $48B in 2024. Overall, total exports indicated strong growth from 2012 to 2024: its value increased at an average annual rate of +7.0% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +74.7% against 2014 indices. The pace of growth appeared the most rapid in 2013 with an increase of 19% against the previous year. Over the period under review, the global exports reached the maximum in 2024 and are likely to see steady growth in the immediate term.

Exports By Country

France (19K tons), Italy (19K tons), Pakistan (15K tons), India (14K tons), Belgium (12K tons), Germany (11K tons), China (8.2K tons), the United States (7.5K tons) and Ireland (7.4K tons) represented roughly 66% of total exports in 2024. The Netherlands (7.4K tons) followed a long way behind the leaders.

From 2012 to 2024, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Pakistan (with a CAGR of +22.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Italy ($9.9B), France ($5.4B) and Germany ($4.8B) constituted the countries with the highest levels of exports in 2024, with a combined 42% share of global exports. The United States, the Netherlands, Belgium, Ireland, China, India and Pakistan lagged somewhat behind, together comprising a further 28%.

In terms of the main exporting countries, China, with a CAGR of +29.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average medicaments containing corticosteroid hormones export price stood at $283,700 per ton in 2024, rising by 9.8% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the maximum at $308,886 per ton in 2014; however, from 2015 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Italy ($529,963 per ton), while Pakistan ($9,803 per ton) was amongst the lowest.

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by China (+19.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform