Budesonide Inhaler Market Dynamics, Trends, Opportunities with Top Players Pfizer., Cipla, Lupin, Cosmo Pharmaceuticals, Takeda Pharmaceutical

Budesonide is a medication that is used to prevent symptoms of asthma. It is a corticosteroid or steroid (cortisone-like medicine). The medication prevents inflammation in the lungs to decrease the severity of asthma attack. Inhaled budesonide may be used with other asthma medicines such as bronchodilators, which are also used to open up narrowed breathing passages in the lungs. Budesonide is available in several forms such as powders, suspensions, and tablets. In powder form, the medication can be inhaled by mouth using an inhaler. It can also be used as suspension to inhale by mouth using a special jet nebulizer (machine that turns medication into a mist that can be inhaled). Some of the trade names under which budesonide is sold are Pulmicort, Rhinocort, and Entocort.

The global budesonide inhaler market size was valued at US$ 5.25 billion in 2017, and is expected to witness a CAGR of 5.8% over the forecast period (2018 – 2026).

Increasing number of launches in generic version of budesonide inhaler is a major driving factor for growth of the budesonide inhaler market growth. For instance, in 2016, Nephron Pharmaceuticals Corporation (Nephron) launched generic Budesonide Inhalation Suspension in the U.S. Nephron has licensed the Abbreviated New Drug Application from Apotex, Inc. The Budesonide Inhalation Suspension is the generic version of Pulmicort Respules that is manufactured by AstraZeneca LP. Nephron will be responsible for the manufacturing, marketing, and distribution of Budesonide.

Budesonide Inhaler Market - Restraints

The major restraining factor for budesonide inhaler market growth is the side effects shown by budesonide such as runny or stuffy nose, sneezing, coughing, sore throat, dry throat, nosebleed, nausea, vomiting, diarrhea, stomach pain, white patches or sores inside the mouth or on lips, headache, hoarseness, voice changes, or bad taste in the mouth. For instance, according to Product Monograph of Pulmicort Turbuhaler from AstraZeneca Canada Inc. of 2017, side effects can be observed in 2 to 4% population who are under treatment of Pulmicort Turbuhaler (budesonide). Some adverse effects include, respiratory infection, rhinitis, ear infection, otitis media, and viral infection, which can be observed in less than 3% population.

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Budesonide Inhaler Market - Regional Insights

On the basis of region, the global budesonide inhaler market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global budesonide inhaler market, owing to increasing regulatory approvals of budesonide inhaler. For instance, in November 2017, Cipla Ltd. received final approval for its Abbreviated New Drug Application (ANDA) for Budesonide Inhalation Suspension, 0.25mg/2mL, 0.5mg/2mL, and 1mg/2mL from the U.S. Food and Drug Administration (FDA) to market a generic version of AstraZeneca's Pulmicort Respules. It is indicated for the maintenance treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age.

Asia Pacific is expected to foresee a rapid growth in the budesonide inhaler market during the forecast period. This is owing to presence of major companies such as Cipla Limited, Lupin Limited, Takeda Pharmaceutical Company Ltd., Manus Aktteva Biopharma LLP, Lunan Better Pharmaceutical, Synmosa Biopharma Corporation, and Shanghai Sine Pharmaceutical Laboratories Co. Ltd. in emerging economies such as China, India, and Japan.

Budesonide Inhaler Market - Competitive Landscape

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.

The global demand for budesonide inhaler is expected to witness substantial growth over the forecast period, owing to increasing incidences and prevalence of asthma. According to the Global Asthma Report 2018, asthma causes around 1000 deaths every day and affects as many as 339 million people worldwide. Furthermore, major players in the market are focused on developing new drug combinations for paediatric use. For instance, in January 2017, AstraZeneca announced that the U.S. FDA approved Symbicort (budesonide/formoterol fumarate dihydrate) Inhalation Aerosol for the treatment of asthma in paediatric patients aged 6 to 12 years. Budesonide/formoterol is already approved in the U.S. to treat asthma in patients 12 years and older and for the maintenance treatment of airflow obstruction in Chronic Obstructive Pulmonary Disease (COPD) in adults.

However, product recalls due to failure to meet regulatory guidelines is expected to hinder the market growth. For instance, in 2014, AstraZeneca’s PULMICORT RESPULES (budesonide inhalation suspension) was recalled by the U.S. FDA as budesonide may be above or below the specification range, which can be harmful for the patients.

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This release was published on openPR.