by The Budesonide Inhaler Market has been gaining significant traction over the recent past owing to increasing prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary diseases (COPD). Budesonide is a corticosteroid predominantly used in inhalation therapies for the treatment of various respiratory diseases. It works by reducing the swelling and irritation in the airways, making it easier for the patient to breathe.
The global budesonide inhaler market is estimated to be valued at US$ 8217.54 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the budesonide inhaler market are 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 and AstraZeneca Plc. Budesonide inhalers are widely used due to their anti-inflammatory effects and ability to provide relief from symptoms associated with asthma and COPD such as coughing, wheezing and shortness of breath. The global budesonide inhaler market is witnessing high growth owing to increasing healthcare expenditure, rising awareness regarding respiratory disorders and favourable reimbursement policies worldwide.
Market key trends
One of the key trends witnessed in the Budesonide Inhaler Market Size is the increasing preference for generic drug version. As budesonide has been off-patent for many years, several generic drug manufacturers are producing low-cost budesonide formulations. This has significantly reduced the treatment cost for patients. Additionally, major players are focusing on developing new budesonide delivery formulations such as breath-activated inhalers and dry powder inhalers to improve patient compliance. These factors are expected to fuel the growth of the budesonide inhaler market during the forecast period.
Porter’s Analysis
Threat of new entrants: New companies need huge capital to enter the established market and gain recognition.
Bargaining power of buyers: Large buyers can negotiate for better prices and demand innovative products.
Bargaining power of suppliers: Established pharmaceutical companies have strong bargaining power over raw material suppliers and contract manufacturers.
Threat of new substitutes: Alternative therapies offer competition but budesonide inhalers have strong brand recognition.
Competitive rivalry: Intense competition exists among existing players to grow market share and profit margins.
North America dominated the global Budesonide Inhaler Market Regional Analysis in terms of value in 2024. The rising prevalence of respiratory diseases, technically advanced healthcare infrastructure, and presence of major players have contributed to its large share. Asia Pacific is expected to grow at the fastest pace during the forecast period. Increasing healthcare awareness, large patient pool, and growing healthcare expenditure are driving the market in developing countries such as India and China.
With respect to geographical regions where market in terms of value is concentrated: North America dominated the global budesonide inhaler market in terms of value in 2024. The rising prevalence of respiratory diseases, technically advanced healthcare infrastructure, and presence of major players have contributed to its large share.
With respect to fastest growing region: Asia Pacific is expected to grow at the fastest pace during the forecast period. Increasing healthcare awareness, large patient pool, and growing healthcare expenditure are driving the market in developing countries such as India and China.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
