Budesonide belongs to a type of drug called corticosteroids. It is used to control, prevent the symptoms caused by asthma and certain bowel conditions. This medication reduces irritation in the lungs and swelling of the airways in the lungs; however, it is not prescribed to control sudden asthma attacks. Although Budesonide does not have any major side effects, it sometimes causes dry or irritated throat, runny nose, nose bleed, etc. In addition, patients who have eye diseases, high blood pressure, thyroid, osteoporosis, mental abnormalities, such as anxiety, depression, psychosis, etc. are not recommended this medication. According to an article published by the Queensland Health, 2010, it is estimated that the average cost of Budesonide to a patient for a course of three months is around US$ 355.0 (administering first month at 9mg/day dose of Budesonide, second month at 6mg/day dose, and third month at 3mg/day dose).
The global budesonide market is primarily driven by the increasing prevalence of asthma across the world, rise in diagnosis and treatment rate of asthma, growth in health care infrastructure, and favorable re-imbursement policies. However, stringent regulatory landscape and intellectual property rights are anticipated to cease the growth of the global Budesonide market during the forecast period. Nevertheless, expiry of patented drugs, emergence of generic companies, increasing R&D investment, and technological progress in the medical industry are likely to provide growth opportunities to the global budesonide market during the forecast period.
In terms of availability, the global Budesonide market can be segmented into inhalers, pills, nasal sprays, rectal forms, and others. In the treatment of asthma and certain bowel diseases, Budesonide has shown prominent application in anti-doping test for professional athletes, according to a study published by the “Acta Poloniae Pharmaceutica and Drug Research” in 2016. Therefore, the global Budesonide market can be classified into refectory celiac diseases and others (anti-dope testing for professional athletes) segments, based on application. In terms of distribution channel, the global Budesonide market can be categorized into hospital pharmacies, retail pharmacies and drug stores, and others (online sales).. However, the risk of counterfeit Budesonide drugs through online sales channel is likely to restrain the growth of the segment in the near future.
Geographically, the global budesonide market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to a study published by the Centers for Disease Control and Prevention (CDC), around 8.3% of the adults in the U.S suffered from asthma in 2016. Around 10% of the adults in Canada suffered from the disease in the same year, based on a study conducted by the Government of Canada. The Budesonide market in North America accounted for the dominant market share in 2017, owing to significant prevalence of asthma, well-established health care infrastructure, favorable reimbursement policies,. The prevalence of asthma in Europe varies widely, it was high in Sweden (around 20%) in 2017. Prevalence of asthma is low, at 0.3%, in Russia and in the countries close to the Mediterranean region. The Budesonide market in Europe held the second leading market share in 2016, and is expected to grow at a significant rate during the forecast period due to high prevalence of asthma in Western Europe, high diagnosis and treatment rate of asthma, robust reimbursement scenario, and technological progress of the pharmaceutical industry in the region. The Budesonide market in Asia Pacific held the third leading market share in 2017; however, it is anticipated to expand at a significant rate during the forecast period due to large patient pool and emergence of generic companies in the region. Underdeveloped health care infrastructure and low rate of diagnosis and treatment of asthma and bowel diseases are likely to hamper the growth of the Budesonide market in Latin America and Middle East & Africa in the near future.
Key companies operating in the global budesonide market are AstraZeneca, Natco Pharma, Teva, Lupin, Cipla, Ranboxy Laboratories, Sun Pharmaceuticals, Kopran Pharmaceuticals Ltd., Zydus Cadila, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.