Budesonide Inhaler Market Size, Share, Growth, and Industry Analysis by Type (Dry Powder, Suspension, Sprays), by Application (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), Regional Insights, and Forecast From 2024 To 2032

Updated On: 22 April 2024

Budesonide Inhaler Market Report Overview

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The global budesonide inhaler market size was 4486.5 million in 2021. As per our research, the market is expected to reach USD 5801.7 million in 2028, exhibiting a CAGR of 3.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with budesonide inhaler market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Budesonide is a medication that is used to inhibit symptoms of asthma. The medication prevents inflammation in the lungs to decrease the brutality of asthma attack. It is a corticosteroid used to treat a range of breathing disorders including asthma. Corticosteroids work since they reduce bump and irritation in the airways, making air flow at ease in the lungs. Inhaled budesonide may be used with other asthma medicine to open up narrowed breathing passages in the lungs. Rise in the research and development activities and rising focus of the producers of budesonide inhaler to improve quality and performance of the product will provide beneficial opportunities for the budesonide inhaler market. The inhaled form is used in lasting management of asthma and chronic disruptive disease. Budesonide is used to prevent trouble while inhalation, chest tightness, coughing caused by asthma. It comes as powder to inhale by mouth using an inhaler and as a deferral to inhale by mouth using a superior nebulizer. The growing rate of air pollution will upsurge asthma and other breathing problem. The growing number of patients suffering from respiratory diseases and the necessity for long-term treatment is generating new prospects for the budesonide inhaler in the market across the world. Rising regulatory approvals of inhaler is also expected to surge growth in the region. The incidence of multiple distribution channels for the sale of budesonide inhaler has also motivated demand within the worldwide market.  There is a great probability of improved inhalers being developed in the future ages. Change in climate also leads to seasonal asthma which may become a key cause for breathing illnesses. Kids and ageing population are delicate to climate change which is disturbing their health with various long-lasting diseases. Children can also use inhaler which can give breathing space from shortness of breathing and asthma attack.

COVID-19 Impact: Pandemic impacted positively to rise in inhaler intake

Covid 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. Covid 19 had positive impact on budesonide inhaler market. There was increased burden on hospitals and healthcare professionals. Covid 19 take place due to respiratory issue it is found that use of budesonide is keeping patient comparatively safe from coronavirus. A massive number of clinics and hospitals through the world were updated to increase the hospital capacity for patients detected with COVID-19. The pandemic has anticipated to have positive impact on market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Budesonide Inhaler Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into dry powder, suspension, sprays.

Dry powder capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into Hospital pharmacies, retail pharmacies, online pharmacies.

Budesonide inhaler market players cover segment as hospital pharmacies will dominate the market share during forecast period.

Driving Factors

"Rise in incidence of asthma and respiratory disease to boost the market growth"

The rising incidence of asthma and other respiratory diseases has led to augmented implementation of inhalers and respiratory pumps. Rising healthcare spending, upsurge in the introductions of general varieties of budesonide for the curing, development in the treatment of lungs and respiratory diseases and increasing government initiatives are the reasons that will expand the inhaler market. Additionally, the stress-free accessibility of inhalers has also helped the growth of the worldwide budesonide inhaler market. 

"Technological advancement and development to upsurge the market."

It has been expanding due to advancements in the healing of lung and respiratory diseases. The existence of a continuous healthcare industry that emphases on creating new technologies and devices for monitoring diseases has become a certainty. Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the budesonide inhaler market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market.

Restraining Factors

"Side effects to hamper the market growth"

Side effects shown by use of budesonide is a major factor which is depleting the market growth. Patients may experience sneezing, runny nose, dry throat, coughing, vomiting, vision problems, headache and others. The side effects can hamper the market growth.

Budesonide Inhaler Market Regional Insights

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"Asia Pacific to dominate the region due to rise in occurrence of asthma patients"

Asia Pacific is further expected to witness growth in the budesonide inhaler market share. The region is dominating the market due to rise in the occurrence of asthma. Region is expected to grow due to the growing research and development actions. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• AstraZeneca (U.K.)
• Cosmo Pharmaceuticals (Ireland)
• Teva Pharmaceutical (Israel)
• Cipla Limited (India)
• Mylan (U.S.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.