June 18, 2024

Rescue Inhaler Market Dynamics: Navigating Innovations in Respiratory Therapeutics

Rescue Inhaler Market

Rescue inhalers are small handheld emergency medical devices used for the delivery of short-acting bronchodilators to provide relief from sudden attacks of breathing problems associated with asthma and chronic obstructive pulmonary disease (COPD). They work by relaxing the muscles in the lungs airways and increasing airflow to quickly relieve symptoms of wheezing, chest tightness, shortness of breath, and coughing. Common rescue inhalers contain medications such as albuterol and levalbuterol that open up the airways. They are prescribed for on-demand use by patients prone to asthma attacks or sudden worsening of COPD symptoms.

The global rescue inhaler market is estimated to be valued at US$ 15.5 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

“Growing Prevalence of Respiratory Diseases” is expected to be one of the major drivers fueling demand for rescue inhalers. According to the United States Centers for Disease Control and Prevention, around 25 million Americans currently suffer from asthma, while over 16 million are diagnosed with COPD. These respiratory diseases are known to significantly impact quality of life and place a huge economic burden on healthcare systems worldwide. Rescue inhalers play a crucial role in saving lives by rapidly relieving symptoms and avoiding emergency room visits or hospital admissions associated with exacerbations of asthma and COPD. The increasing patient pool suffering from such diseases is likely to drive sales of rescue inhalers over the next few years.

Another key factor is the “availability of variants with advanced delivery technologies”. Manufacturers are constantly innovating rescue inhalers using propellant-free and breath-actuated methods for easier administration, improved medication adherence, and better management of symptoms. Such advancements enhance patient comfort and experience with rescue therapy, thereby supporting demand.

Segment Analysis

The rescue inhaler market can be segmented into metered dose inhalers (MDIs), dry powder inhalers (DPIs), and soft mist inhalers (SMIs). Metered dose inhalers dominate the market and account for over 60% market share, owing to their easy usage and effectiveness in delivering quick relief. However, dry powder inhalers are gaining traction among patients and physicians due to their compact size and lack of requirement of coordinating hand-breath coordination, as required in MDIs.

PEST Analysis

Political: Governments across regions have implemented various programs and campaigns to raise awareness about asthma and COPD. They also provide reimbursements and insurance coverage for rescue inhalers.

Economic: Rising prevalence of respiratory diseases due to growing geriatric population, pollution levels, and lifestyle changes has boosted the demand for rescue inhalers.

Social: People have become more aware about symptoms of asthma attacks and importance of immediate treatment. This has increased preference for over-the-counter rescue inhalers for emergency relief.

Technological: Players are focused on development of compact and easy-to-use dry powder inhaler devices that provide quick relief within few minutes of usage. Integration of digital technologies will further aid medication adherence.

Key Takeaways

The global rescue inhaler market is expected to witness high growth at a CAGR of 8.8% during the forecast period of 2023-2030. The global rescue inhaler market is estimated to be valued at US$ 15.5 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023-2030.

North America dominated the market with over 40% share in 2023 due to increasing healthcare awareness and expenditure in the region. However, Asia Pacific is anticipated to emerge as the fastest growing market owing to rising environmental pollution and developing healthcare infrastructure in India and China.

The key players operating in the rescue inhaler market are GSK plc., Teva Pharmaceutical Industries Ltd., Cipla Inc., PARI Pharma GmbH, Lupin, AstraZeneca, Boehringer Ingelheim International GmbH., Novartis, Pfizer, Sunovion Pharmaceuticals, 3M, OMRON Healthcare Co., Ltd., Koninklijke Philips N.V., Schiller, and Teleflex Incorporated. GSK leads the market with its ventolin inhaler brand while brands like alvesco and pulmicort of Cipla are also gaining popularity in developing countries.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it