Global Budesonide Inhaler Market, by Product Type (Inhalants and Nebulizer), by Dosage (Aerosols, Dry Powder, Suspension, and Sprays), by Strength (0.25mg, 0.5mg, and 1.0mg), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,899.6 Million in 2022 and is projected to exhibit a CAGR of 6.0% over the forecast period (2017– 2030).
Key players in the market are focused on developing generics version of budesonide inhaler in affordable prices and in various forms such as dry powder, aerosols, suspensions or spray for asthma patients. Increasing number of regulatory approvals for generic versions of budesonide inhaler is a major factor driving growth of the budesonide inhaler market. For instance, in 2018, Lupin, a pharmaceutical company, received approval for its budesonide inhalation suspension 0.5/2ml single dose ampules from the U.S. FDA (Food and Drug Administration) to market generic versions AstraZeneca’s Pulmicort Respules (Asthma Treatment). It is indicated for the treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age.
Furthermore, in January 2021, AstraZeneca, a pharmaceutical industry company, announced the approval of Symbicort Turbuhaler (budesonide/formoterol 160/4.5mcg) in China as an anti-inflammatory reliever in mild asthma for aged 12 years and older. The approval by the National Medical Products Administration (NMPA) was based on positive results from the SYGMA 1 and SYGMA 2 Phase III trials, published in The New England Journal of Medicine, which evaluated the efficacy of Symbicort Turbuhaler taken as-needed as an anti-inflammatory reliever compared with standard of care (SoC) therapies in mild asthma. This approval helped Symbicort’s in treating moderate to severe disease.
Global Budesonide Inhaler Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. The economy in countries all over the world such as India, Italy, Bangladesh, Sri Lanka, the U.S., Morocco, and others has been disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020.
Increasing use of budesonide inhaler during the pandemic for people at high risk of complication in the U.K. boosted the growth of global budesonide inhaler market. For instance, in December 2021, the lancet, an online research publication, published a report on high-dose budesonide for early COVID-19, which reported that conventional doses of intranasal corticosteroid were associated with a 22% (95% CI) reduced risk of hospital admission, a 23% reduced need for intensive care, and a 24% lower risk of death in hospital for patients with COVID-19. Moreover, these protective effects were replicated when excluding patients with allergic rhinitis and the use of inhaled corticosteroid.
Thus, impact of the Coronavirus (COVID-19) pandemic has driven growth of the global budesonide inhaler market during the forecast period.
Global Budesonide Inhaler Market: Key Developments
Increasing drug approval by the U.S. FDA (Food and Drug Administration), in generic version of budesonide in treatment of asthma and chronic obstructive pulmonary disease (COPD) is expected to boost the growth of global budesonide inhaler market over the forecast period. For instance, on March 15, 2022, the U.S. Food and Drug Administration approved the generic of Symbicort (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol for the treatment of two common pulmonary health conditions: asthma in patients, six years of age and older and the maintenance treatment of airflow obstruction and reducing exacerbations for patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis or emphysema. This is a metered-dose inhaler.
Furthermore, increasing drug approval by the U.S. FDA (Food and Drug Administration) is expected to boost the global budesonide inhaler market over the forecast period. For instance, on May 31, 2022, Avillion LLP, a drug development company, announced that the U.S. Food and Drug Administration (FDA) accepted for filing Avillion's New Drug Application (NDA) for AstraZeneca's PT027. The proposed indication is for the as-needed treatment or prevention of bronchoconstriction and for the prevention of exacerbations in patients with asthma 4 years of age and older. PT027 is a first-in-class inhaled, fixed-dose combination of albuterol, a short-acting beta2-agonist (SABA), and budesonide, an inhaled corticosteroid (ICS), in the U.S.
Browse 21 Market Data Tables and 19 Figures spread through 149 Pages and in-depth TOC on "Global Budesonide Inhaler Market, by Product Type (Inhalants and Nebulizer), by Dosage (Aerosols, Dry Powder, Suspension, and Sprays), by Strength (0.25mg, 0.5mg, and 1.0mg), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2030”
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Key Takeaways of the Global Budesonide Inhaler Market:
- Global budesonide inhaler market is expected to witness a CAGR of 6.0% during the forecast period, owing to increasing number of regulatory approvals for generic versions of budesonide inhaler
- Among product type, inhalant segment is expected to hold a dominant position in market over the forecast period owing to increase use of inhalants to treat asthma.
- Key players in the market are focused on developing generic versions of budesonide inhaler for asthma and chronic obstructive pulmonary disease (COPD), which is expected to drive growth of the inhalant segment in the market. For instance, on May 16, 2022, Viatris Inc., a pharmaceutical company and Kindeva Drug Delivery L.P., pharmaceutical contract research, development, and manufacturing organization, announced that, Mylan Pharmaceuticals Inc., a Viatris subsidiary, has received approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol), the approved generic version of AstraZeneca's Symbicort. Breyna, a drug-device combination product, is indicated for certain patients with asthma or chronic obstructive pulmonary disease (COPD) and is available in 160 mcg/4.5 mcg and 80 mcg/4.5 mcg dosage strengths. This approval will help the company in further expansion in healthcare sector.
- Key players operating in the global budesonide inhaler market include, Pfizer Inc., Cipla Limited, Lupin Limited, Cosmo Pharmaceuticals, Takeda Pharmaceutical Company Ltd., Manus Aktteva Biopharma LLP, Abbott Laboratories, Lunan Better Pharmaceutical, Novartis International AG (Sandoz), Mylan N.V., Skyepharma, AstraZeneca Plc., Chiesi Farmaceutici S.p.A, Orion Corporation, Santarus Inc., Synmosa Biopharma Corporation, and Shanghai Sine Pharmaceutical Laboratories Co. Ltd.
