BUDESONIDE INHALER MARKET ANALYSIS

Budesonide Inhaler MarketSize and Trends

Global budesonide inhaler market size was valued at US$ 6,899.6 Million in 2022 and is expected to witness a CAGR of 6.0% over the forecast period (2022 – 2030).

Figure 1.Global Budesonide Inhaler Market Share (%), by Product Type, 2022

Increasing number of launches in generic version of budesonide inhaler is expected to drive growth of the budesonide inhaler market over the forecast period.

Increasing number of launches in generic version of budesonide inhaler is a major driving factor for growth of the budesonide inhaler market growth. For instance, in April 2020, Cipla Limited, a pharmaceutical company, announced that it received final approval for its Abbreviated New Drug Application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, from the U.S. Food and Drug Administration (FDA). Cipla’s Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, is AB-rated (a product approved by a regulatory agency that has determined the product to be bioequivalent to an existing or already-approved product identified as an Approved Product Concept.) generic therapeutic equivalent version of Merck Sharp & Dohme Corp’s Proventil HFA Inhalation Aerosol. It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.

Figure 2. Global Budesonide Inhaler Market Share (%), by Region, 2022

Increasing prevalence of chronic obstructive pulmonary disease and asthma in the U.S. is expected to boost the growth of global budesonide inhaler over the forecast period.

Increasing prevalence of chronic obstructive pulmonary disease and asthma in the U.S. is expected to boost the growth of budesonide inhaler market. For instance, on August 19, 2022, according to the reports published by Center Of Disease Control And Prevention, National Center of Health Statistics published a 2020 report which stated that, 5.0% of the U.S. population have been diagnosed with chronic obstructive pulmonary disease (COPD), emphysema, or chronic bronchitis, 4.1% of visits to office-based physicians with (COPD) chronic obstructive pulmonary disease indicated on the medical record in 2018.

Moreover, according to the same source, on August 16, 2022, according to the 2020 report, percent of adults aged 18 and over who currently have asthma is 8.4% and 5.8% of children under age 18 years who currently have asthma in the U.S. Whereas, 5.8 million was the annual number of office visits for asthma in 2020.

The sudden outbreak of COVID-19 has bought the world to a standstill. The whole world is fighting this pandemic with increased burden on hospitals and healthcare professionals. In April, 2020, University of Oxford, published a report on Asthma drug budesonide shortens recovery time in non-hospitalized patients with COVID-19, which reported that early treatment with inhaled budesonide shortens recovery time by a median of three days in patients with COVID-19 who are at higher risk of more severe illness, whereas Inhaled budesonide is a safe, relatively inexpensive and readily available corticosteroid commonly used around the world in inhalers to treat asthma and chronic obstructive pulmonary disease. The results showed that estimated median time to self-reported recovery for inhaled budesonide was 3.011 days shorter compared to usual care.

Thus, impact of covid-19 has driven the growth of global budesonide inhaler market during the pandemic.