Overview and Scope
Montelukast sodium is a leukotriene receptor antagonist, meaning it works by blocking the action of leukotrienes that cause asthma symptoms and allergic reactions. It is used to manage and prevent symptoms of asthma and to relieve seasonal and perennial allergic rhinitis. Montelukast is typically administered orally in tablet form.
Sizing and Forecast
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 growth in the historic period can be attributed to increasing respiratory disorders, an aging population, rising air pollution levels, growing awareness and education, and expansion in 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%. The growth in the forecast period can be attributed to approval and launch, clinical studies, patent expiry, regulatory changes, and physician prescribing patterns. Major trends in the forecast period include increased generic competition, a shift towards combination therapies, expansion in emerging markets, a focus on pediatric use, and digital health solutions.
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Segmentation & Regional Insights
The montelukast sodium market covered in this report is segmented –
1) By Product: Crystal-like, Form-less Or Amorphous
2) By Dosage Form: Tablets, Oral Solutions
3) By Application : Bronchospasm, Allergic Coryza, Asthma, Urticaria, Other Applications
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.
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Major Driver Impacting Market Growth
The increasing prevalence of asthma is expected to propel the growth of montelukast sodium market going forward. Asthma is a chronic respiratory disorder marked by inflammation and constriction of the airways, resulting in repeated bouts of wheezing, breathlessness, chest tightness, and coughing. The prevalence of asthma is increasing due to environmental pollution, allergen exposure, genetic predisposition, urbanization, changes in lifestyle, and respiratory infections. Montelukast sodium is used in asthma as a leukotriene receptor antagonist, helping to prevent and manage asthma symptoms by blocking the action of leukotrienes, which contribute to airway inflammation and constriction. For instance, in September 2022, according to the National Health Service, a UK-based government department, 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 rose to 19,506, compared to 7,850 during the 2020 to 2021 period. Therefore, the increasing prevalence of asthma is driving the growth of montelukast sodium market.
Key Industry Players
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
The montelukast sodium market report table of contents includes:
1. Executive Summary
2. Montelukast Sodium Market Characteristics
3. Montelukast Sodium Market Trends And Strategies
4. Montelukast Sodium Market – Macro Economic Scenario
5. Global Montelukast Sodium Market Size and Growth
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32. Global Montelukast Sodium Market Competitive Benchmarking
33. Global Montelukast Sodium Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Montelukast Sodium Market
35. Montelukast Sodium Market Future Outlook and Potential Analysis
36. Appendix
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