February 29, 2024
Rescue Inhaler Market

Rescue Inhaler Market Is Estimated To Witness High Growth Owing To Rising Demand for Product Launches

The Rescue Inhaler Market is estimated to be valued at US$ 15.54 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The rescue inhaler market refers to different types of inhalers used for quick relief from symptoms of asthma and COPD. Rescue inhalers contain bronchodilators that relax muscles in the airways and allow more air to flow into and out of the lungs. The most commonly used rescue inhalers contain albuterol or levalbuterol.

Market Overview:-

Rescue inhalers are portable devices used for rapid symptom relief from asthma attacks and exacerbations of chronic obstructive pulmonary disease (COPD). The commonly used devices are metered dose inhalers and dry powder inhalers which contain short-acting bronchodilators. They provide quick relief from wheezing, coughing, chest tightness, and shortness of breath associated with asthma and COPD exacerbations.

Market Dynamics:-

The rescue inhaler market is driven by the rising prevalence of asthma and COPD worldwide. According to the WHO, around 235 million people suffer from asthma globally and COPD is projected to be the third leading cause of death by 2030. The increasing air pollution levels along with sedentary lifestyles have contributed significantly to the rising disease burden. Furthermore, new product launches with improved efficacy and patient compliance are also fueling the market growth. For instance, in 2018, Teva launched a generic version of ProAir Digihaler containing albuterol sulfate for emergency asthma relief. However, alternative therapies such as nebulizers and inhibitors of IL-5 biological pathway pose a threat to rescue inhaler sales.

SWOT Analysis:-

  • Strength: The rescue inhaler market has strong brand awareness among asthma and COPD patients. Established players like GSK, AstraZeneca, and Merck offer products with proven efficacy and safety. The rescue inhalers provide instant relief to patients suffering from asthma attacks or COPD exacerbations.
  • Weakness: High dependency on prescription-based sales affects the over-the-counter potential of the market. Significant manufacturing challenges and quality control issues plague generic rescue inhaler manufacturers.
  • Opportunity: Untapped growth opportunities exist in developing markets like India, China, and Africa due to rising air pollution levels and growing disease awareness. New product lines developed specifically for exercise-induced asthma can boost the market revenues.
  • Threats: Stringent regulatory pathways for new product approvals can delay the launch of innovative rescue inhalers. Patent cliffs of blockbuster drugs pose pricing pressures in the market.

Key Takeaways:-

The global rescue inhaler market demand is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing prevalence of asthma and COPD worldwide. According to WHO, around 235 million people suffer from asthma while over 355 million people are affected by COPD globally. Growing environmental pollution and lifestyle changes have been identified as chief risk factors fueling the burden of respiratory diseases.

Regional analysis shows North America dominated the global rescue inhaler market in 2021, with a share of over 35%. Presence of advanced healthcare infrastructure, rising healthcare spending, and strong reimbursement structure support the growth of the regional market. However, Asia Pacific is projected to witness the highest growth during the forecast period. Presence of fast developing economies like India and China coupled with rising pollution levels presents lucrative prospects for market players in the Asia Pacific region.

Key players operating in the rescue inhaler market are GlaxoSmithKline, Teva Pharmaceuticals, AstraZeneca, Boehringer Ingelheim, Merck, Novartis, Pfizer, Sunovion Pharmaceuticals, Roche. These players are engaged in new product launches, partnerships, and geographic expansion strategies to strengthen their global foothold. For instance, in 2021, GSK launched new Ellipta platform for inhalation of drugs to treat COPD and asthma.

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