New York, United States , March 26, 2024 (GLOBE NEWSWIRE) -- The Global Montelukast Sodium Market Size is to Grow from USD 4.1 Billion in 2023 to USD 7.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.64% during the projected period.
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Leukotriene inhibitor montelukast sodium is commonly marketed under the Singulair brand. Dyspnea and other asthma-related adverse effects are treated with it. It also addresses several fungal and allergy diseases in addition to asthma. For the purpose of avoiding respiratory issues, it is also taken before working out. The growth in the incidence of chronic respiratory diseases like asthma throughout the world is one of the factors driving the montelukast sodium market. Asthma is considered the most common chronic ailment globally; hence, there has been a significant demand for innovative treatments. Asthma medicine is necessary for severe asthma, which is a crippling illness. Consequently, it is expected that the market will rise as the desire for people with asthma to live better lives grows.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Montelukast Sodium Market Size, Share, and COVID-19 Impact Analysis, By Dosage Form (Tablets, Oral Solutions, Simple Pills, Chewable Pills, Powder & Others), By Application (Asthma, Allergic Rhinitis, Urticaria, & Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The simple pill segment is expected to hold the largest share of the global montelukast sodium market during the predicted timeframe.
The Montelukast Sodium market is classified by dosage form into tablets, oral solutions, simple pills, chewable pills, powder and others. Among these, the simple pills segment is expected to hold the largest share of the global montelukast sodium market during the predicted timeframe. Due to increasing the geriatric population use them most frequently; they have high accuracy because of their proper coating, which protects them from environmental factors like air and moisture; bulk production is feasible; and the companies' production costs are low.
The instruments and systems segment is expected to hold the largest share of the global montelukast sodium market during the anticipated period.
On the basis of the application, the global montelukast sodium market is divided into asthma, allergic rhinitis, urticaria, and others. Among these, the asthma segment is expected to hold the largest share of the global montelukast sodium market during the anticipated period. The incidence of asthma is increasing globally, which is fueling market growth. For example, according to estimates from the Centers for Disease Control and Prevalence, 6.2% of children under the age of 18 and 8.7% of adults over the age of 18 had asthma in 2022. Every year, over 939,000 people who suffer from asthma visit an urgent care facility. As a result, growth in the market is predicted.
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North America is anticipated to hold the largest share of the global montelukast sodium market over the predicted timeframe.
North America is anticipated to hold the largest share of the global montelukast sodium market over the predicted timeframe. a well-established healthcare system and the extensive availability of various retail pharmacies and pharmacy stores are driving up overall pharmaceutical use. About 25 million Americans, or one in every thirteen, have had asthma.
Throughout the projected period, Asia Pacific is anticipated to develop at the quickest rate. The aging population is the cause of this growth, especially in China and India, the two countries that generate the most carbon dioxide, making illnesses like asthma worse. However, since their GDPs are increasing, these nations afford to make more R&D investments.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Montelukast Sodium Market include Cipla, Merck & Co., Hetero Labs, Ortin laboratories, Mylan N.V, Morepen laboratories, Teva Pharmaceuticals, MSN Laboratories, Vamsi Labs, Medopharm and others.
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Recent Developments
- In December 2021, the US Department of Health granted Morepen Laboratories approval to market felofenadine hydrochloride, a generic anti-allergy drug, in the US.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Montelukast Sodium Market based on the below-mentioned segments:
Global Montelukast Sodium Market, By Dosage Form
- Tablets
- Oral Solutions
- Simple Pills
- Chewable Pills
- Powder
- Others
Global Montelukast Sodium Market, By Application
- Asthma
- Allergic Rhinitis
- Urticaria
- Other
Global Montelukast Sodium Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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