Montelukast Sodium Market Share, Size, Trends, Industry Analysis Report, By Product Type (Montelukast Sodium Amorphous and Montelukast Sodium Crystalline); By Dosage Form; By Application; By Region; Segment Forecast, 2024- 2032
- Published Date:Mar-2024
- Pages: 118
- Format: PDF
- Report ID: PM4778
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Global montelukast sodium market size was valued at USD 293.80 million in 2023. The market is anticipated to grow from USD 326.71 million in 2024 to USD 773.78 million by 2032, exhibiting the CAGR of 11.4% during the forecast period.
Market Overview
The Montelukast Sodium market is experiencing steady growth and expansion, driven by several key factors within the pharmaceutical industry. Montelukast Sodium, a leukotriene receptor antagonist, is primarily utilized in the treatment of asthma and allergic rhinitis. One of the primary drivers of market growth is the rising prevalence of respiratory disorders globally, particularly asthma. With increasing pollution levels, changing lifestyles, and a growing awareness of respiratory health, the demand for effective medications like Montelukast Sodium is on the rise.
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Furthermore, the aging population worldwide is contributing significantly to the growth of the Montelukast Sodium market. Elderly individuals are more susceptible to respiratory illnesses, leading to an increased need for medications that can effectively manage these conditions. Additionally, advancements in healthcare infrastructure and the availability of better treatment options in emerging economies are fueling market expansion.
Moreover, the expanding pharmaceutical industry and increasing investments in research and development activities are further propelling market growth. Pharmaceutical companies are continually striving to develop innovative formulations and delivery methods for Montelukast Sodium, enhancing its efficacy and patient compliance. These efforts are expected to drive market demand in the coming years.
The growing trend of self-medication and over-the-counter availability of Montelukast Sodium in some regions is also a significant factor contributing to market expansion. As consumers become more proactive about managing their health, the demand for accessible and affordable medications like Montelukast Sodium is increasing.
Growth Factors
Growing geriatric population to drive market growth
The Montelukast Sodium market is experiencing a significant surge, attributed primarily to the growing geriatric population worldwide. As demographics shift towards an increasingly aged populace, the prevalence of respiratory ailments such as asthma and allergic rhinitis is on the rise, consequently propelling the demand for Montelukast Sodium. This pharmaceutical compound, renowned for its effectiveness in managing asthma and allergic conditions, has become a cornerstone in the treatment regimens of millions globally. Its mechanism of action, targeting leukotrienes, makes it particularly valuable in alleviating symptoms and improving quality of life for patients suffering from these chronic respiratory disorders.
Moreover, as healthcare infrastructure improves across emerging economies, accessibility to Montelukast Sodium is expanding, further bolstering market growth. The escalating adoption of preventive healthcare measures and increased awareness regarding respiratory diseases contribute to the rising demand for pharmaceutical interventions like Montelukast Sodium. Additionally, the evolving lifestyle patterns characterized by urbanization and environmental pollution have augmented the incidence of respiratory disorders, amplifying the need for effective treatment options.
Change in dietary habits and rapid urbanization to spur market growth
The drastic change in people's dietary habits, increasing exposure to allergens, and growing urbanization, particularly in developing nations, also contribute to the prevalence of respiratory conditions, thereby propelling the demand for montelukast sodium due to its ability to improve lung functions and help address respiratory issues. For instance, according to the UNCTAD, the share of the urban population worldwide increased to about 56.9 percent in 2022, and it is most pronounced in developing regions like Asia, from 44 percent in 2012 to 50.6 percent in 2022.
Restraining Factors
Side effects associated with montelukast to hamper market growth
Several side effects associated with the use of montelukast as an inhibitor, including gastrointestinal discomfort, nausea, diarrhea, respiratory dysfunction, and drowsiness, may limit its adoption and hamper the market's growth.
Report Segmentation
The market is primarily segmented based on product type, dosage form, application, and region.
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By Product Type |
By Dosage Form |
By Application |
By Region |
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By Product Type Insights
Montelukast sodium amorphous segment accounted for largest share in 2023
The montelukast sodium amorphous segment accounted for the largest share in 2023. Segment’s dominance is attributed to due to its numerous beneficial characteristics including enhanced solubility and bioavailability compared to other product types. In addition, it is widely used to prevent bronchoconstricton caused by exercise and also in the treatment of chronic urticaria due to its greater efficacy than the crystalline segment, which, in turn, fosters the segment’s growth at a rapid pace.
By Dosage Form Insights
Tablets segment held the majority market share in 2023
The tablets segment held the majority market share. This dominance is accelerated by the easy availability of montelukast sodium over other dosage forms and a growing number of applications requiring these tablets for effective treatment. Additionally, tablets have numerous other benefits, including accurate dosage of montelukast sodium, easy to handle and transport, easy to consume as they can be swallowed with water easily, and reduces the risk of contamination; thereby, health professionals recommend tablets to patients over other types.
By Application Insights
Asthma segment captured the notable share in 2023
The asthma segment captures a notable market share. This is due to the continuously growing prevalence of asthma worldwide and growing awareness among the general public about the symptoms of asthma and its available treatment options and medications. Moreover, the substantial increase in air pollution levels also leads to higher incidences of respiratory conditions, including asthma, thereby fostering the demand for efficient treatment options like montelukast sodium.
Regional Insights
North America region dominated the global market in 2023
The North American region dominated the global market in 2023. Region’s dominance is accelerated by the significant prevalence of respiratory conditions, including asthma and allergic rhinitis, and the robust presence of developed treatment facilities. Moreover, the availability of several favorable government initiatives and a surging number of research partnerships aimed at discovering new potential uses and applications of montelukast sodium could also drive the region’s growth.
Asia Pacific will grow rapidly during the forecast period, region’s growing geriatric population and the presence of some of the world’s polluted countries that lead to a larger number of people with respiratory conditions. As several economies in the APAC countries continue to grow at a significant pace, their healthcare expenditure is also growing and creating lucrative opportunities for effective treatment solutions or medications for conditions like asthma and allergic rhinitis.
Key Market Players & Competitive Insights
Improving product quality and new product development to drive the competition
The montelukast sodium market is moderately competitive in nature with significant number of players consolidating for their position. Major companies are competing in the market on various factors such as offering higher quality formulations, investments in R&D activities to develop new products, and implementing on various effective marketing strategies including advertising and promotional campaigns.
Some of the major players operating in the global market include:
- Apotex Inc. (Canada)
- Aurobindo Pharma Ltd. (India)
- Cipla Ltd. (India)
- Glenmark Pharmaceutical Ltd. (India)
- Jubilant Life Sciences Ltd. (India)
- Merck & Co. Inc. (US)
- Mylan N.V. (US)
- Sandoz International GmbH (Germany)
- Sun Pharmaceutical Industries Ltd. (India)
- Teva Pharmaceutical Industries Ltd. (Israel)
Recent Developments in the Industry
- In December 2021, Morepen Laboratories announced that it had received approval from the US FDA to market its anti-allergy drug, Fexofinadine Hydrochloride, in the US market. With this approval, the company will strengthen its position in the anti-allergy market through the expansion of its product line of montelukast, loratadine, and desloratadine.
Report Coverage
The montelukast sodium market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, product type, dosage form, application, and their futuristic growth opportunities.
Montelukast Sodium Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 326.71 million |
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Revenue forecast in 2032 |
USD 773.78 million |
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CAGR |
11.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The global montelukast sodium market size is expected to reach USD 773.78 million by 2032
Key players in the market are Sandoz International, Sun Pharmaceutical Industries, Merck
North America contribute notably towards the global Montelukast Sodium Market
Montelukast sodium market exhibiting the CAGR of 11.4% during the forecast period.
The Montelukast Sodium Market report covering key segments are product type, dosage form, application, and region.
