Montelukast Sodium Market Trends, Demand, Growth and Key players 2027

 

The Global Montelukast Sodium Market is estimated to be valued at USD 1,430,215.2 thousand and is expected to register a CAGR of 3.38% during the forecast period.

The asthma segment is expected to lead the market and register a substantial CAGR to reach USD 700,730.7 thousand by the end of forecast owing to the rising prevalence of asthma. Montelukast API is much in demand across the globe for the treatment of asthma. However, the allergic rhinitis segment is projected to exhibit the highest CAGR of 3.11%. The rising rate of allergic rhinitis cases is driving the growth of the segment.

North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% during the forecast period.  


Segment Analysis

The global montelukast API market has been segmented on the basis of applications, and region. On the basis of the applications, the market has been divided into asthma, allergic rhinitis, bronchospasm, urticarial and others. The asthma segment held the majority market share in 2017. Allergic rhinitis segment is expected to be the fastest-growing, followed by the asthma segment. Rising prevalence of allergic rhinitis is driving the growth of the segment.

Market Players

Market Research Future (MRFR) recognizes Merck Sharp & Dohme Corp (US), Dr. Reddy’s Laboratories Ltd (India), Morepen Laboratories Ltd (India), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd (Israel), Hikma Pharmaceuticals PLC (UK), Glenmark (India), Sandoz International GmbH (Germany), Vintage Pharmaceuticals Inc (US), Hetero (India) and Aurobindo Pharma (India) as the key players in the global montelukast API market.

Regional Analysis

North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% during the forecast period from 2018 to 2023.

The European market is estimated to exceed USD 396,258 thousand by 2023. Increasing incidence of asthma, COPD, and allergies are driving the growth of the Montelukast API market in the region. The UK is the major contributor to the growth of the regional market, followed by France.

Key Findings of the Study:

The Global Montelukast API Market is projected to reach over USD 1,430,215.2 thousand by 2023 at 38% CAGR during the review period of 2018 to 2023.

North America accounted for the largest market share with the US being the major contributor to the growth of the market.

The allergic rhinitis segment is projected to register the highest CAGR of 3.89% during the forecast period owing to the rising rate of allergic rhinitis cases.

Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

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United States of America

+1 646 845 9312

Email: sales@marketresearchfuture.com

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