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The rescue inhaler market is witnessing rapid growth owing to the rising prevalence of respiratory disorders such as asthma and COPD across the globe. Rescue inhalers are devices used to relieve acute asthma symptoms or shortness of breath caused due to COPD. They contain short-acting bronchodilators in metered doses that help open the airways and provide rapid relief from symptoms. Inhalers have become first-line therapies for the treatment of asthma exacerbations as they are more convenient to use and have a faster onset of action than oral medications.
The global Rescue Inhaler Market is estimated to be valued at US$ 15.5 billion in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Digital health technologies are playing a key role in improving patient care and outcomes associated with respiratory diseases. Telehealth and telemedicine platforms allow remote monitoring of patients, timely interventions, and management of chronic conditions from the comfort of homes. They are transforming the traditional healthcare models by facilitating cost-effective care and improving access, especially in rural areas. Furthermore, integration of rescue inhalers with connected digital platforms enables storage and transfer of usage data to physicians for better understanding of a patient’s condition and tailoring treatment plans accordingly. This is expected to drive further innovation and development of smart inhalers integrated with digital solutions over the forecast period.
Porter’s Analysis
Threat of new entrants: The rescue inhaler market has moderate barriers to entry due to the high research and development costs for new products.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of generic alternatives and branded rescue inhalers by different manufacturers.
Bargaining power of suppliers: A few major players supply active ingredients for rescue inhalers, giving them significant bargaining power over manufacturers.
Threat of new substitutes: Several new technologies for asthma and COPD treatment pose a threat, but rescue inhalers still remain the standard first line treatment option.
Competitive rivalry: The market is dominated by a few major players like GSK leading to high competition.
Key Takeaways
The global rescue inhaler market is expected to witness high growth over the forecast period.
North America is projected to dominate the market during the analysis timeframe owing to the increasing prevalence of asthma and COPD. Europe is also expected to hold a significant market share due to the growing healthcare infrastructure and expenditure.
Key players operating in the rescue inhaler market are GSK. The market is highly competitive with GSK capturing a majority of the market share. Rapid urbanization and growing pollution levels are anticipated to drive the Asia Pacific market over the coming years. Rising air quality issues have led to a surge in respiratory diseases, fueling rescue inhaler demand.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
