RESCUE INHALER MARKET ANALYSIS

Market Challenges And Opportunities

Rescue Inhaler Market Drivers

• Rising prevalence of respiratory diseases: The rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis is a major factor driving the growth of the rescue inhaler market. For instance, on March 16, 2023, according to the data published by the World Health Organization, chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide, causing 3.23 million deaths in 2019. COPD is the seventh leading cause of poor health worldwide (measured by disability-adjusted life years).
• Increasing geriatric population: The growing geriatric population across the globe presents significant opportunities for the growth of the rescue inhaler market. According to United Nations projections, the global population aged 60 years or over is expected to grow more than double by 2050, reaching nearly 2.1 billion. Elderly people are more susceptible to developing chronic respiratory conditions like COPD due to their decreased immunity and lung capacity. Moreover, coordination issues make it difficult for them to use inhalers correctly. This is leading to a greater reliance on rescue inhalers to manage acute attacks. The rising geriatric population is therefore expected to be a key growth driver for the rescue inhaler market.
• Increasing product approval: Increasing product approval by regulatory authorities for respiratory disease is catalyzing the growth of the rescue inhaler market. For instance, on June 21, 2023, Lupin, a pharmaceutical company, announced that it had received an approval from the U.S. Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Tiotropium Bromide Inhalation Powder, 18 mcg/capsule, a generic equivalent of Spiriva HandiHaler (Tiotropium Bromide Inhalation Powder).
• Technological advancements: The rescue inhaler market growth is aided by continuous technological advancements leading to product innovations. The development of smart inhaler technologies is gaining significant popularity. Companies are integrating digital sensors to track inhaler usage and provide real-time feedback regarding technique. Other innovations include dry powder inhalers, breath-actuated metered dose inhalers, and e-cigarette style vaporizer inhalers. These advanced inhalers are more patient-friendly, improve medication delivery, and foster greater adherence.

Rescue Inhaler Market Opportunities

• High growth potential in emerging markets: The emerging markets represent significant growth opportunities for rescue inhaler manufacturers owing to the large underserved patient pool and improving healthcare provisions. The rescue inhaler market has huge scope for penetration in developing countries in Asia Pacific, Latin America, Middle East, and Africa. In 2022, According to the Forum of International Respiratory Societies, over 90% of COPD deaths occur in low and middle income countries. Moreover, the prevalence of asthma in developing nations ranges from 2% to 10%. The high disease incidence coupled with expanding healthcare infrastructure is expected to drive rescue inhaler adoption. Companies are likely to gain advantage by tapping into the unmet demand in emerging economies.
• Growing demand for home care settings: The increasing demand for home care settings presents lucrative prospects for growth of the rescue inhaler market. The COVID-19 pandemic has further accelerated the preference for at-home treatment due to risks of exposure at hospitals. Rescue inhalers are ideal for self-administration during acute attacks. Moreover, technological advancements have led to the availability of easy-to-use portable nebulizers for home care. Patients are being prescribed rescue medications to manage respiratory conditions without hospital visits. Training patients regarding proper inhaler technique can further boost home care. The trend of self-medication and reduced hospital visits is expected to spur the demand for rescue inhalers.
• Development of biologics for asthma: The emergence of biologics as a targeted treatment approach for severe asthma is opening new avenues of growth for the rescue inhaler market. Biologics such as monoclonal antibodies help reduce inflammation in patients unresponsive to conventional therapies. However, the high cost of these drugs has limited their widespread adoption. Rescue inhalers are being increasingly prescribed alongside biologics to provide quick relief during asthma exacerbations. Market players can leverage this factor by creating awareness regarding proper use of rescue inhalers with biologics. The synergistic effect of both therapies will support market expansion.
• Rising focus on telehealth for respiratory care: The implementation of telehealth solutions for chronic respiratory disease management presents an important opportunity for growth of the rescue inhaler market. Telehealth facilitates remote assessment of symptoms, lung function, and inhaler usage technique. It also enables real-time interventions during acute attacks which can improve outcomes. Access to virtual care improves adherence to controller medications and proper use of rescue inhalers. Training through teleconsultations can also help first time inhaler users. Players can collaborate with telehealth companies to increase rescue inhaler uptake. The convenience of virtual respiratory care is expected to propel the market growth.

Rescue Inhaler Market Restraints

• Stringent regulatory requirements: The rescue inhaler market growth is impeded by stringent regulatory requirements regarding safety and efficacy testing. Inhalers are classified as drugs and medical devices and hence necessitate exhaustive clinical evaluations before approval. Manufacturers need to comply with good manufacturing practices and demonstrate product quality consistency. Regulations differ across countries which restricts launch plans. Moreover, increased vigilance regarding adverse effects can lead to product recalls or restricted use recommendations. The complex and lengthy regulatory processes therefore hinder growth prospects.
• Product Recall: Increasing product recall by regulatory authority. For instance, on July 7, 2023, The U.S. Food and Drug Administration, recalled 6 batches of Albuterol Sulfate Inhalation Aerosol, 90mcg (200 metered inhalation) due to a container defect. The product was manufactured by Cipla Inc., a healthcare company. Albuterol Sulfate Inhalation Aerosol is indicated for the treatment of acute asthma exacerbations. The container defect may result in the recommended dose of albuterol not being delivered, which may result in life-threatening consequences. Thus, Key market players are focused on manufacturing more efficient product to neglect the product recall