Budesonide Market 2020 Global Industry Trends, Size, Share and Forecast 2026 – QY Research
Industry: Market Research
Market Research report on Global Budesonide Market Analysis and Forecast 2020-2026 by Industry Size, Share, Trends and Keyplayers.
Los Angeles, CA (PRUnderground) February 25th, 2020
QY Research has presented an in-depth analysis of global budesonide market in its latest research report, titled, “Global Budesonide Market Report, History and Forecast 2014-2026, Breakdown Data by Manufacturers, Key Regions, Types and Application”. The market was valued at U$6835.8 mn in 2018 and it expected to reach US$9773.6 mn by the end of 2026 with growing CAGR of 4.57%.
Budesonide is a type of a medication available in pills, inhalers, and nasal spray forms, which is mostly prescribed for asthma and bowel conditions. The main factor that drives the market is rising number asthma patients. Severe change in climatic conditions have led to increase chronic respiratory disorders. Budesonide mainly targets lungs to make breathing easier. Although it does not have any major side effects but can trigger minor side effects such as respiratory infections, headaches, cold, joint pain, and vomiting. Despite its positive impact, intellectual property rights and strict regulatory landscape can hinder the growth market.
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Powder Inhaler Segment to drive the Market as it is Easier and More Convenient to Use
Powder inhaler is a device used to deliver the drug or medicine into lungs to treat bronchitis, asthma, and emphysema. Powder inhalers are getting more popular and are preferred by asthma patients as they are convenient to use. The powder inhalation also helps in long term management of asthma
Other product types used to treat respiratory disorders include injection suspension, aerosols, tablets, and capsules.
Rising Environmental Concerns to Augment Budesonide Market
Although major respiratory diseases such as asthma are caused by genetic interactions, it can be also triggered by various environmental factors like air pollution and allergens. As of now there is no cure for asthma however, it can be controlled with medications such as budesonide. Budesonide directly targets lungs to reduce irritation and swelling and to make breathing easier giving relief to the patients quickly. The steady growth of asthma is expected to increase the budesonide market during the forecast period. Other diseases such as inflammatory bowel and certain nose diseases can also be treated by the use of Budesonide.
Increasing Air Pollution in Asia Pacific to Spike Demand for Budesonide Market
Asia Pacific is rated to have highest usage of Budesonide due to degrading air pollution and increasing population. The market will grow especially in the countries like India and China as these regions have higher number of asthma patients and asthma-related deaths. Other regions to have stagnant growth rate for Budesonide market include North America and Europe.
Global Budesonide Market Competitive Landscape
AstraZeneca is the leading manufacturer for Budesonide medicine. The firm focuses on product innovation and spreading awareness about health care. In January, 2020 AstraZeneca’s Young Health Programme announced to have partnered with UNICEF to raise awareness to prevent effects and risk of non-communicable diseases. It expected that AstraZeneca will boost the Budesonide market further.
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Other key drivers include Teva, Mylan, Sandoz, Cosmo Pharmaceuticals, Salix, Chiesi Farmaceutici, Orion Corporation, Cipla, Synmosa Biopharma, Lunan Better Pharma, Shanghai and Sine Promod.
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