Global budesonide market is expected to grow at a CAGR of 5.4% to 2027Published Date: April 7, 2021 |
Budesonide is a glucocorticoid which exerts its anti-inflammatory response via the suppression of inflammatory cells such as leukotriene, mast cells, neutrophils, cytokines etc. It is currently available both as a generic drug and over the counter product (OTC) in different formulations such as metered sprays, nebulizers, inhalers, suspension, capsules etc.
Browse the full report Budesonide Market – Growth, Future Prospects, Competitive Analysis, 2021 – 2027 report at https://www.researchcorridor.com/budesonide-market/
Pulmonary complications are dominating the clinical application segment for budesonide market. According to the latest research citings presented by the World Health Organization (WHO), approximately 65 million people are suffering with chronic obstructive pulmonary disease which is occurring in 2 major forms i.e. chronic bronchitis and emphysema. Incessant cigarette smoking, exposure to allergens, rise in air pollution etc. have been associated with the chronic rise in asthma throughout the globe. Inflammatory bowel disease is keen to highlight excellent market growth during the forecast period on account of the rising prevalence of inflammatory bowel diseases across the globe. Craving for spicy and junk food, increasing consumption of alcohol, stress etc. have resulted in the high incidence of ulcerative colitis in young adult population worldwide, furthermore clinical trials investigation have suggested the therapeutic efficacy and safety of budesonide I the management of remission of Crohn’s disease.
Hospital pharmacist is presently spearheading the distribution channel segment for budesonide market. The drug is available in the form of metered sprays, inhalers, nebulizers etc. hence precise compounding of drug formulation by hospital pharmacist in cognizance to physicians prescription is mandatory to ensure maximum therapeutic efficacy of the drug formulation. Retail pharmacy is gaining tremendous popularity as a distribution channel in the developing regions on account of the presence of well-established generic drugs market and flourishing over the counter products (OTC) market.
North America is presently reigning the geography segment for budesonide market. Rising prevalence of chronic obstructive pulmonary disease (COPD) primarily drive the budesonide market growth in the region. As per the latest research citings provided by the Center for Disease Control and Prevention (CDC), it is estimated that 16 million adult population in the United States suffer with chronic obstructive pulmonary disease. Furthermore domicile of major players such as AstraZeneca, Plc, Teva Pharmaceutical Industries Limited, Mylan Pharmaceutical Industries Limited etc. further bolster the market growth in the region. Europe is the second largest regional segment for budesonide market. Growing incidence of asthma determines the market growth in the region. Nurturing regulatory environment provided by the European Medical Agency (EMA) for the sale and distribution of budesonide drug formulation determines the market growth in the region. Asia Pacific is anticipated to be the fastest growing regional segment for budesonide market on account of the rising prevalence of chronic obstructive pulmonary disease (COPD) and flourishing over the counter budesonide products market.
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Pharmaceutical manufacturers actively engaged in the production of budesonide are AstraZeneca, Plc., Teva Pharmaceutical Industries Limited., Mylan Pharmaceutical Industries Limited., Apotex Corporation, Cipla Limited, Novartis AG., Orion Pharma, Boehringer Ingelheim AG, Dr. Falk Pharma, Chiesi Farmaceutici S.p.A.
Key Market Movements:
- Rising prevalence of pulmonary complications worldwide
- Significant increase in the number of people suffering with inflammatory bowel disease worldwide
- Affordable reimbursement scenario pertaining to budesonide drug formulation will further accentuate the market growth
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