The global 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.
Market Overview:-
Rescue inhalers, also known as bronchodilators, provide quick relief from bronchospasms and wheezing associated with conditions such as asthma and chronic obstructive pulmonary disease (COPD). They contain medications that relax the airway muscles to alleviate symptoms of bronchospasm occurring due to constriction of air passages.
Market key trends:-
Research and development of novel rescue inhalers has led to inventions of compact devices with built-in sensors that can track parameters like number of doses administered and time of use. These “smart” inhalers promote medication adherence and provide usage data to physicians for better disease management. Furthermore, combination rescue inhalers containing both short-acting beta-agonist and corticosteroid are gaining popularity due to their superior efficacy over single-drug formulations. Growth in geriatric population suffering from chronic respiratory illnesses like COPD and rising pollution levels increasing the disease burden are some of the major drivers propelling the rescue inhaler market.
Segment Analysis:-
The global rescue inhaler market is dominated by short-acting beta2-agonists (SABA) segment due to its effectiveness and quick relief from symptoms of asthma and chronic obstructive pulmonary disease (COPD). SABA helps relax the muscles in the airways and improves breathing within a few minutes of use. Albuterol is the most prescribed SABA rescue medication globally.
Key Takeaways:-
The global rescue inhaler market is expected to witness high growth, exhibiting a CAGR of 8.7% over the forecast period, due to the increasing prevalence of respiratory diseases.
The North American region currently dominates the market, with the United States accounting for the major market share. This can be attributed to high healthcare expenditures and the presence of major players in the region. However, the Asia-Pacific region is expected to register the fastest growth rate over the forecast period, driven by rapid economic development in developing countries like India and China.
Key players operating in the rescue inhaler market are GlaxoSmithKline, Teva Pharmaceuticals, AstraZeneca, Boehringer Ingelheim, Merck, Novartis, Pfizer, Sunovion Pharmaceuticals, Roche, 3M, Omron Healthcare, Philips, Drive DeVilbiss Healthcare, Invacare, CareFusion, Schiller, Chart Industries, Smiths Medical, Allied Healthcare Products, and Fisher & Paykel Healthcare. GlaxoSmithKline and Teva Pharmaceuticals occupy the major market share owing to their broad product portfolio and strong distribution channels globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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