Global Budesonide Inhaler Market Size To Worth USD 12.53 Billion By 2033 | CAGR of 6.51%
Category: HealthcareGlobal Budesonide Inhaler Market Size To Worth USD 12.53 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Budesonide Inhaler Market Size is Expected to Grow from USD 6.67 Billion in 2023 to USD 12.53 Billion by 2033, at a CAGR of 6.51% during the forecast period 2023-2033.
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Browse key industry insights spread across 278 pages with 115 Market data tables and figures & charts from the report on the "Global Budesonide Inhaler Market Size, Share, and COVID-19 Impact Analysis By Product Type (Dry Powder Inhaler and Metered Dose Inhaler), By Usage Type (Rescue Therapy and Maintenance Therapy), By Indication (Chronic Obstructive Pulmonary Disease, Allergic Rhinitis, and Asthma), By Distribution Channel (Online Pharmacies, Hospital Pharmacies, and Retail Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/budesonide-inhaler-market
The budesonide inhaler market focuses on the production and distribution of inhalers containing budesonide, a corticosteroid medication used to treat respiratory diseases like asthma and COPD. Budesonide reduces lung inflammation and reduces asthma episodes over time. It is marketed as a suspension and is safe for pregnant use. The market is expected to expand due to rising respiratory illnesses, improved product quality, and research and development initiatives. Seasonal asthma, a major cause of respiratory ailments, is particularly beneficial for the elderly and children. Asthma is a prevalent non-communicable disease affecting around 300 million people globally, ranking 16th among leading causes of disability and 28th among burden of disease. Asthma significantly impacts quality of life and is expected to affect another 100 million by 2025. The global rise in respiratory conditions, such as asthma and COPD, necessitates the development of efficient treatments, making the budesonide inhaler market essential. The need for medication to reduce inflammation and symptoms is growing due to environmental factors, urbanization, and lifestyle changes. Budesonide inhalers, a common corticosteroid, help lower airway inflammation, improving patients' quality of life and reducing symptoms. However, the side effects of budesonide may hinder market expansion.
The metered dose inhaler segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the product type, the global budesonide inhaler market is categorized as dry powder inhaler and metered dose inhaler. Among these, the metered dose inhaler segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. Patient convenience, accurate medication dosage, affordability, portability, accessibility, lack of an external power source, small droplet delivery, ease of use, quick bronchospasm relief, safety, fewer side effects, and quick action onset are the factors driving the segment's growth.
The maintenance therapy segment accounted for a substantial share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.
Based on the usage type, the global budesonide inhaler market is categorized as rescue therapy and maintenance therapy. Among these, the maintenance therapy segment accounted for a substantial share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. The growth of this segment is attributed to optimized treatment, lung function stabilization, effective asthma symptom control, patient compliance, long-term budesonide maintenance, low adverse effects, minimal systemic side effects, and asthma prevention.
The asthma segment held a significant share in 2023 and is expected to grow at a remarkable CAGR throughout the projected timeframe.
Based on the indication, the global budesonide inhaler market is categorized into chronic obstructive pulmonary disease, allergic rhinitis, and asthma. Among these, the asthma segment held a significant share in 2023 and is expected to grow at a remarkable CAGR throughout the projected timeframe. The segment's growth can be attributed to several causes, including genetic predisposition, sedentary lifestyles, environmental triggers for asthma, the increasing incidence of asthma episodes in adults and children worldwide, and the improved management of asthma by budesonide inhalers.
The hospital pharmacies segment held the greatest share in 2023 and is predicted to grow at a substantial CAGR throughout the projected timeframe.
Based on the distribution channel, the global budesonide inhaler market is categorized into online pharmacies, hospital pharmacies, and retail pharmacies. Among these, the hospital pharmacies segment held the greatest share in 2023 and is predicted to grow at a substantial CAGR throughout the projected timeframe. This is attributed to critical medicines, inhaler accessibility, medication dispensing, collaborations with hospitals, patient safety benefits, personalized care, and Budesonide inhaler counseling, ensuring comprehensive care and patient safety.
North America is expected to hold the greatest share of the global budesonide inhaler market over the forecast period.
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North America is expected to hold the greatest share of the global budesonide inhaler market over the forecast period. This is owing to technological advancements in inhaler devices, including smart technologies for improved patient monitoring and adherence. Urban pollution and population aging also contribute to the need for efficient respiratory therapies. To accelerate market expansion, regulatory agencies like the FDA have expedited approval procedures for innovative inhaler devices.
Asia Pacific is predicted to hold the fastest-growing region of the global budesonide inhaler market throughout the estimated period. This is attributed to the growth of production and formulation companies, increasing clinical trials, and FDA approvals. Key market participants are expected to increase investments in R&D projects and expand production capacities, accelerating growth. Technological advancements have also aided the market's growth.
Major key players in the global budesonide inhaler market are Teva Pharmaceuticals, Pfizer, Sandoz, AstraZeneca, Novartis, GlaxoSmithKline, Cipla, Myla N.V., Reddy’s Laboratories, Shanghai Sine Pharmaceuticals, Lupin Limited, Synmosa Biopharma Corporation, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In November 2024, AstraZeneca Pharma Limited launched the Breztri Aerosphere, an inhalational preparation comprised of Budesonide Ph. Eur 160mcg+ Glycopyrronium Ph. Eur 7.2mcg+ Formoterol Fumarate Dihydrate Ph. Eur 5mcg. It is indicated for the maintenance treatment to relieve the symptoms and prevent the exacerbation of pulmonary disease (COPD).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global budesonide inhaler market based on the below-mentioned segments:
Global Budesonide Inhaler Market, By Product Type
- Dry Powder Inhaler
- Metered Dose Inhaler
Global Budesonide Inhaler Market, By Usage Type
- Rescue Therapy
- Maintenance Therapy
Global Budesonide Inhaler Market, By Indication
- Chronic Obstructive Pulmonary Disease
- Allergic Rhinitis
- Asthma
Global Budesonide Inhaler Market, By Distribution Channel
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Global Budesonide Inhaler Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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