PUBLISHER: The Business Research Company | PRODUCT CODE: 1527069
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527069
Montelukast sodium functions as a leukotriene receptor antagonist, blocking the action of leukotrienes that induce asthma symptoms and allergic reactions. It is employed for managing and preventing asthma symptoms and alleviating seasonal and perennial allergic rhinitis. Typically, montelukast is administered orally in tablet form.
Montelukast sodium exists in several product types, including crystal-like, form-less, or amorphous variations. Crystal-like denotes a solid substance with a regular, repeating three-dimensional arrangement of its atoms or molecules. Different dosage forms such as tablets and oral solutions are utilized for various applications, including bronchospasm, allergic coryza, asthma, urticaria, among others.
The montelukast sodium market research report is one of a series of new reports from The Business Research Company that provides montelukast sodium market statistics, including montelukast sodium industry global market size, regional shares, competitors with a montelukast sodium market share, detailed montelukast sodium market segments, market trends, and opportunities, and any further data you may need to thrive in the montelukast sodium industry. This montelukast sodium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The montelukast sodium market size has grown strongly in recent years. It will grow from $3.52 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The rise during the historical era can be credited to the escalation of respiratory disorders, an aging demographic, heightened levels of air pollution, expanding awareness and education, and the advancement of emerging markets.
The montelukast sodium market size is expected to see strong growth in the next few years. It will grow to $5.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. Anticipated growth in the forecasted period can be traced back to approvals and launches, clinical investigations, patent expirations, regulatory shifts, and the prescribing patterns of physicians. Notable trends projected for the forecast period encompass heightened generic competition, a transition toward combination therapies, expansion in emerging markets, a concentration on pediatric application, and the integration of digital health solutions.
The rising prevalence of asthma is anticipated to drive the growth of the montelukast sodium market in the future. Asthma is a chronic respiratory disorder characterized by inflammation and narrowing of the airways, leading to recurrent episodes of wheezing, breathlessness, chest tightness, and coughing. The increase in asthma prevalence is attributed to factors such as environmental pollution, allergen exposure, genetic predisposition, urbanization, lifestyle changes, and respiratory infections. Montelukast sodium, a leukotriene receptor antagonist, is utilized in asthma management to prevent and alleviate symptoms by inhibiting the action of leukotrienes, which contribute to airway inflammation and constriction. For example, according to the National Health Service (NHS) in September 2022, hospital admissions for children with asthma in England and Wales surged by 149% between 2021 and 2022. The number of children admitted with asthma symptoms increased to 19,506, compared to 7,850 during the 2020 to 2021 period. Consequently, the growing prevalence of asthma is fueling the expansion of the montelukast sodium market.
Major players in the montelukast sodium market are actively pursuing the development of new medications such as fexofenadine hydrochloride to broaden their product offerings and cater to the changing needs of patients with allergic conditions. Fexofenadine hydrochloride, a second-generation antihistamine approved by the FDA for allergy symptoms and hay fever in both adults and children, is among these new drugs. For example, Morepen Laboratories received FDA approval in December 2021 to market its generic anti-allergy medication, Fexofenadine Hydrochloride, in the United States. This approval marks a significant milestone for Morepen Laboratories, reinforcing its position in the anti-allergy market.
In April 2023, SK Capital Partners LP, a US-based private investment firm, completed the acquisition of Apotex Pharmaceutical Holdings Inc. for an undisclosed sum. This acquisition bolsters SK Capital's presence in the pharmaceutical sector, granting it access to Apotex's extensive global operations, product portfolio, and skilled workforce. Apotex Pharmaceutical Holdings Inc., headquartered in Canada, is known for manufacturing montelukast sodium and engaging in commercial physical and biological research and development.
Major companies operating in the montelukast sodium market are Pfizer Inc., Merck & Co. Inc., Sanofi Aventis SA, Teva Pharmaceuticals USA Inc., Hetero Labs Ltd., Sun Pharma Industries Ltd., Aurobindo Pharma Limited, Cipla Inc., Intas Pharmaceuticals Ltd., Seqens Group, Sanyo Chemical Industries Ltd., Morepen Laboratories, Neuland Laboratories Ltd., Medopharm Private Ltd., BEC Chemicals Pvt. Ltd, Delmar Chemicals Inc., Kimia Biosciences Ltd., Ortin Laboratories Ltd., MSN Laboratories Pvt Ltd., Vamsi Labs Ltd., LGM Pharma LLC, HRV Global Life Sciences, Sigmak Lifesciences, Akums Lifesciences Ltd., Anwita Drugs & Chemicals Pvt Ltd
North America was the largest region in the montelukast sodium market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the montelukast sodium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the montelukast sodium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The montelukast sodium market consists of sales of monteluksast oral granules, chewable tablets, pill organizers, dosing spoons and syringes, and tablet packaging material. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Montelukast Sodium Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on montelukast sodium market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for montelukast sodium ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The montelukast sodium market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.