The rescue inhaler, also known as a metered-dose inhaler (MDI), is a handheld medical device used for rapid delivery of bronchodilator drugs to relieve symptoms of asthma and chronic obstructive pulmonary disease (COPD). It contains a pressurised canister that dispenses the drug in a short burst of aerosolized medicament by means of a pump attached. Some key advantages of rescue inhalers include ease of use, quick relief even during acute exacerbations, and portability.
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 key trends:
Increasing prevalence of respiratory diseases has been a major driver of growth for the rescue inhaler market. According to WHO estimates, over 235 million people suffer from asthma worldwide, with approximately 380,000 deaths per year. COPD prevalence is also rising globally, with over 3 million deaths in 2015 attributed to the condition. Growing elderly population which is more susceptible to respiratory issues has compounded the problem. Technological advances in rescue inhaler devices have also helped improve patient compliance and treatment outcomes. Smart rescue inhalers with connectivity features and digital sensors are being introduced to enable remote monitoring and dosage tracking. This is expected to further increase adoption rates over the forecast period.
Strength: The rescue inhaler market is witnessing rapid growth due to the increasing prevalence of respiratory diseases such as asthma and COPD. Demand for effective and quick relief from symptoms is driving the market.
Weakness: High treatment costs and lack of awareness about inhalers in developing nations are limiting the market growth. Unfavorable reimbursement policies also affect the adoption of rescue inhalers.
Opportunity: Rising healthcare expenditure and improving access to healthcare facilities in developing countries provide lucrative opportunities. Technological advancements in development of smart inhalers with connected features will boost the market.
Threats: Presence of alternative treatment therapies and stringent regulations for approval of new products are challenging the market. Patent expirations of blockbuster drugs also threaten the market growth.
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.
Regional analysis: North America accounts for around 35% of the global rescue inhaler market share. Factors such as increasing insurance coverage, availability of advanced medical facilities and favorable reimbursement policies are fueling market growth in the region. Asia Pacific is projected to witness the fastest CAGR owing to improving access to healthcare facilities and rising healthcare expenditures in countries like China and India.
Key players: 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. Major players are focusing on new product launches, acquisitions and geographical expansion to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it