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Rescue inhalers, commonly known as asthma inhalers or asthma rescue inhalers, are prescribed medical devices used for rapid relief from acute asthma symptoms and exacerbations. They work by quickly delivering short-acting bronchodilators like albuterol into the lungs to relax muscles in the airways and make breathing easier. The global prevalence of asthma has been steadily rising over the years due to environmental factors and changing lifestyle patterns. According to the latest Global Asthma Report, around 339 million people are currently suffering from asthma worldwide. With growing asthma morbidity, the demand for asthma rescue medications for quick relief of symptoms has significantly increased.
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: One of the key trends witnessed in the rescue inhaler market is the shift towards combination therapies that incorporate both long-acting bronchodilators for maintenance and short-acting bronchodilators for relief of symptoms in a single inhaler. For example, Symbicort is a commonly prescribed combination drug-device that contains budesonide, a corticosteroid, and formoterol, a long-acting beta2-agonist. Combination inhalers enable more streamlined disease management and improved patient adherence compared to separate inhalers for control and relief. Additionally, the market has also witnessed advancements in inhaler device engineering to enable easier, more coordinated actuation and higher dosage delivery for better asthma management.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channels lowers the barrier for new players to enter the market. However, presence of major pharmaceutical players make market penetration challenging.
Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over suppliers due to their huge procurement volumes. However, availability of generic drugs balances this bargaining power.
Bargaining power of suppliers: A small number of suppliers for key components increases their bargaining power. However, availability of alternatives balances this.
Threat of new substitutes: Threat of substitutes is low due to lack of viable alternatives for quick relief from asthma and COPD symptoms.
Competitive rivalry: The market is dominated by few major players due to presence of patents and regulations. However, pricing pressure exists due to availability of generics.
Key Takeaways
The global rescue inhaler market is expected to witness high growth over the forecast period of 2023-2030.
North America accounted for over 35% of global market share in 2023. Growing environmental pollution and increase in healthcare expenditure is expected to drive the USA and Canada markets over the forecast period. Asia Pacific is expected to grow at a CAGR of around 9.8% during 2023-2030 with China and India being the major contributor.
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. Most of the major companies are focusing on emerging markets through collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
