Global Montelukast Sodium Market, By Dosage Form (Tablets and Oral Solutions), Application (Asthma, Allergic Rhinitis, Urticaria, and Other Applications) – Industry Trends and Forecast to 2031.
Montelukast Sodium Market Analysis and Size
According to the World Health Organization (WHO), asthma affects approximately 235 million people worldwide. Allergic rhinitis affects a significant portion of the global population and is one of the most common chronic conditions. According to estimates by the WHO, allergic rhinitis affects 10% to 30% of the population worldwide.
Data Bridge Market Research analyses that the Montelukast Sodium market which was USD 452.00 million in 2023, would rocket up to USD 1,431.51 million by 2031, and is expected to undergo a CAGR of 15.5% during the forecast period. This indicates the market value. “Tablets” dominates the dosage form segment of the Montelukast Sodium market owing to the growing demand for better methods for treatment in patients. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Dosage Form (Tablets and Oral Solutions), Application (Asthma, Allergic Rhinitis, Urticaria, and Other Applications)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Teva Pharmaceuticals USA Inc. (U.S.), Merck & Co. Inc. (U.S.), Cipla Limited (India), Morepen Laboratories (India), Sanofi Aventis SA (France), SUN PHARMA (India), Intas Pharmaceuticals Ltd (India), Delmar Chemicals Inc. (Canada), SK Capital (Apotex Inc) (Canada), and Sanyo Chemical Industries Ltd (Japan)
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Market Opportunities
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Market Definition
Montelukast sodium is a medication belonging to the class of leukotriene receptor antagonists (LTRAs). It is used primarily for the maintenance treatment of asthma and to relieve symptoms of seasonal allergies (allergic rhinitis) in adults and children as young as six months old. Montelukast sodium works by blocking the action of leukotrienes, which are substances in the body that contribute to inflammation, bronchoconstriction, and other allergic reactions in the airways. It is available in various formulations, including tablets, chewable tablets, and oral granules, and is typically taken once daily.
Montelukast Sodium Market Dynamics
Drivers
- Rising Prevalence of Respiratory Diseases
The increasing prevalence of respiratory diseases such as asthma and allergic rhinitis and factors such as air pollution, smoking, genetic predisposition, and changing lifestyles contribute to the rising incidence of these conditions globally. As a result, there is a growing demand for effective medications such as Montelukast Sodium to manage and treat these respiratory disorders.
- Growing Awareness and Adoption of Asthma Management Therapies
With increasing awareness about asthma and allergic rhinitis management, there has been a rise in the adoption of pharmacological treatments among patients. Healthcare providers emphasize the importance of preventive measures and long-term management strategies for these conditions. Montelukast Sodium, an effective leukotriene receptor antagonist, is prescribed as a maintenance therapy to control symptoms and reduce the frequency of asthma attacks and allergic reactions. The growing adoption of Montelukast Sodium is driving its demand in the market.
Opportunities
- Expanding Applications and Indications
While Montelukast Sodium is primarily used to treat asthma and allergic rhinitis, there are opportunities to explore and develop its applications for other respiratory conditions or related disorders. Research and clinical trials could uncover its efficacy in conditions such as chronic obstructive pulmonary disease (COPD), exercise-induced bronchoconstriction, or even certain types of allergic dermatitis. Expanding the range of indications for Montelukast Sodium could open up new market segments and increase its overall market share.
- Focus on Pediatric Population
Asthma and allergic rhinitis are prevalent among children, and there is a significant need for safe and effective medications for pediatric patients. Montelukast Sodium is already approved for pediatric use and is available in various formulations suitable for children. Capitalizing on the pediatric segment by developing child-friendly formulations, such as chewable tablets or flavored granules, and conducting targeted marketing efforts toward parents and healthcare providers can be a lucrative opportunity in the Montelukast Sodium market. Additionally, investing in pediatric clinical trials to gather more data on safety and efficacy in children can further strengthen the product's position in this segment.
Restraints/Challenges
- Generic Competition
Montelukast Sodium has lost patent protection in many regions, leading to the entry of numerous generic manufacturers into the market. Generic competition often leads to price erosion, as generic versions are typically offered at lower prices than branded products. This is impacting the revenue potential for branded Montelukast Sodium products, posing a challenge for companies to maintain market share and profitability.
- Regulatory Scrutiny and Safety Concerns
Regulatory agencies have issued warnings and required updated labeling to reflect these safety concerns. Addressing these safety issues, conducting further research to understand the risks better, and implementing risk mitigation strategies present challenges for manufacturers in maintaining consumer confidence and regulatory compliance while ensuring the continued availability of montelukast sodium in the market.
This montelukast sodium market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Montelukast Sodium market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In December 2021, Drug firm Morepen Laboratories received approval from the United States health regulator to market its generic anti-allergy drug (Fexofenadine Hydrochloride) in the American market
- In March 2021, Valeo Pharma Inc. entered into a commercialization and supply agreement with Novartis Pharmaceuticals Canada Inc. for the Canadian commercialization by Valeo of two asthma therapies, Enerzair Breezhaler, glycopyrronium, and mometasone furoate and Atectura Breezhaler
Montelukast Sodium Market Scope
The montelukast sodium market is segmented on the basis of dosage form and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Dosage Form
- Tablets
- Oral Solutions
Application
- Asthma
- Allergic Rhinitis
- Urticaria
- Other Applications
Montelukast Sodium Market Regional Analysis/Insights
The montelukast sodium market is analysed and market size insights and trends are provided by country, dosage form, and application as referenced above.
The countries covered in the montelukast sodium market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
North America is expected to dominate the market because of the strong base of healthcare facilities, the strong presence of major players in the market, the extraordinary healthcare infrastructure, and the large pool of patients.
Asia-Pacific is expected to witness significant growth due to the increase in government initiatives to promote healthcare, the rising health awareness among the people and growing demand for advanced medical technology for diagnosis and treatment procedures, the large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the Montelukast Sodium market.
Competitive Landscape and Montelukast Sodium Market Share Analysis
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Teva Pharmaceuticals USA Inc. (U.S.)
- Merck & Co. Inc. (U.S.)
- Cipla Limited (India)
- Morepen Laboratories (India)
- Sanofi Aventis SA (France)
- SUN PHARMA (India)
- Intas Pharmaceuticals Ltd (India)
- Delmar Chemicals Inc. (Canada)
- SK Capital (Apotex Inc) (Canada)
- Sanyo Chemical Industries Ltd (Japan)
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