Global Inhaled Corticosteroids Market, By Indication (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Others), Type (Beclomethasone Dipropionate, Budesonide, Fluticasone, Mometasone, Others), Dosage form (Aerosol Liquid, Aerosol Powder, Powder, Suspension), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
As per the United Nations report 2020, the global population will grow from 7.2 billion to 8.2 billion by 2025. This, in turn, increases the frequency of chronic diseases across the globe. Along with this, the incidence rate of asthma among people is also rising. According to the world health organization (WHO) factsheet for 2021, asthma is a serious non-communicable disease (NCD) that affects both children and adults. Corticosteroids are commonly used to treat asthma. Therefore, these factors lead to the high demand of inhaled corticosteroids in the market.
Data Bridge Market Research analyses that the inhaled corticosteroids market was valued at USD 840 million in 2021 and is expected to reach USD 1,222.28 million by 2029, registering a CAGR of 4.80% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Medicines containing corticosteroids such as beclomethasone, budesonide, ciclesonide, flunisolide, fluticasone, or mometasone in a composition designed to be inhaled through the mouth are known as inhaled corticosteroids. Inhaled corticosteroids limit the inflammatory process that causes asthma by acting directly in the lungs. Inhaled corticosteroids aid in the prevention of asthma attacks as well as the improvement of lung function. They may also be used to treat other lung diseases, such as chronic obstructive pulmonary disease (COPD).
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Indication (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Others), Type (Beclomethasone Dipropionate, Budesonide, Fluticasone, Mometasone, Others), Dosage form (Aerosol Liquid, Aerosol Powder, Powder, Suspension), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), Boehringer Ingelheim International GmbH. (Germany), AstraZeneca (UK), Johnson & Johnson Private Limited (US), Bayer AG (Germany), Merck & Co., Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb Company (US), Amgen Inc. (US), LEO Pharma A/S (Denmark), Aurobindo Pharma (India), Lupin (India), Eli Lilly and Company (US), Cipla Inc. (US), Sumitomo Corporation (Japan)
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Market Opportunities
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Inhaled Corticosteroids Market Dynamics
Drivers
- Surging prevalence of asthma
The rising prevalence of asthma is a major factor driving the inhaled corticosteroids market's growth rate. Asthma is a respiratory condition that affects the entire respiratory system, including the major, intermediate, and small airways. Respiratory tract irritation as well as blockage are caused due to asthma. Patients with asthma, especially those who are young or elderly, have a variety of therapy options. As a result, the inhaler device, which is simple to use, has piqued people's curiosity. The most often used asthma therapy tool is an inhaled corticosteroid.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of inhaled corticosteroids market is the rising healthcare expenditure which helps in improving its infrastructure.
- Rising geriatric population
The surging number of geriatric population will propel the market’s growth rate during the forecast period of 2022-2029. As per the World Ageing 2020 research, the world's population will be roughly 727 million people aged 65 and up in 2020. In 2050, the number of elderly people is expected to increase to 1.5 billion. The geriatric population is more prone to chronic ailments, which is anticipated to enhance the market’s growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the inhaled corticosteroids market. Additionally, high disposable income and rising addiction of smoking will result in the expansion of inhaled corticosteroids market.
Opportunities
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the inhaled corticosteroids market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate.
Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the inhaled corticosteroids market growth during the forecast period.
Restraints/Challenges
On the other hand, expiration of patented drugs and the introduction of generic version of drugs will obstruct the growth rate of market. The lack of healthcare infrastructure in developing economies and high cost associated with inhaled corticosteroids will challenge the inhaled corticosteroids market. Additionally, side effects linked with inhaled corticosteroids such as oral thrush, cough, hoarseness, sore throat and others will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This inhaled corticosteroids market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the inhaled corticosteroids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Inhaled corticosteroids market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Inhaled Corticosteroids Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic had delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in a number of nations have imposed nationwide lockdowns in order to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world were having difficulty continuing their supply chain activities. The inhaled corticosteroids market was hampered by the supply chain slowness.
Recent Development
- In September 2020, GlaxoSmithKline plc and Innoviva, Inc., had announced the US Food and Drug Administration (FDA) approval for new indication of Trelegy Ellipta (fluticasone furoate / umeclidinium / vilanterol ‘FF/UMEC/VI’). It is used for treating asthma in patients aged 18 years and older. It also used in the treatment of patients suffering chronic obstructive pulmonary disease (COPD).
Global Inhaled Corticosteroids Market Scope
The inhaled corticosteroids market is segmented on the basis of type, indication, dosage form, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Beclomethasone Dipropionate
- Budesonide
- Fluticasone
- Mometasone
- Others
Indication
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Others
Dosage form
- Aerosol Liquid
- Aerosol Powder
- Powder
- Suspension
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Inhaled Corticosteroids Market Regional Analysis/Insights
The inhaled corticosteroids market is analysed and market size insights and trends are provided by country, type, indication, dosage form, end-users and distribution channel as referenced above.
The countries covered in the Inhaled corticosteroids market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the inhaled corticosteroids market because of the growing prevalence of chronic obstructive pulmonary disease (COPD), asthma and other upper respiratory infections in this region. Additionally the presence of major key players and rising healthcare expenditure will further propel the market’s growth rate in this region.
Asia-Pacific are expected to grow during the forecast period due to surging prevalence of asthma and increasing number of geriatric population in this region. Also, development of healthcare infrastructure will further propel the market’s growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Inhaled Corticosteroids Market Share Analysis
The Inhaled corticosteroids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to inhaled corticosteroids market.
Some of the major players operating in the inhaled corticosteroids market are:
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (France)
- Boehringer Ingelheim International GmbH. (Germany)
- AstraZeneca (UK)
- Johnson & Johnson Private Limited (US)
- Bayer AG (Germany)
- Merck & Co., Inc. (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Bristol-Myers Squibb Company (US)
- Amgen Inc. (US)
- LEO Pharma A/S (Denmark)
- Aurobindo Pharma (India)
- Lupin (India)
- Eli Lilly and Company (US)
- Cipla Inc. (US)
- Sumitomo Corporation (Japan)
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