Research Nester published a report titled “Montelukast API Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global montelukast API market in terms of market segmentation by application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global montelukast API market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application into asthma, allergic rhinitis, bronchospasm, and others. Out of these, the asthma segment is anticipated to hold a substantial share over the forecast period on account of increasing prevalence of asthma across the globe, amongst all age groups. Moreover, the growing government initiatives to curb the cases of asthma are estimated to boost the segment growth.
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The global montelukast API market is estimated to grow on the back of the growing prevalence of asthma, along with other respiratory disorders, such as, bronchospasm, bronchitis, allergies, and others. Montelukast is used as the maintenance treatment of asthma. Moreover, demand for new and effective drugs, backed by the growing health awareness amongst people, is estimated to boost the market growth.
On the basis of geographical analysis, the global montelukast API market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of the high prevalence of asthma, along with rising health awareness amongst people in the developed countries. A report by the Asthma and Allergy Foundation of America (AAFA) stated that approximately 25 million Americans suffer from asthma.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Prevalence of Asthma to propel the Market Growth
The growing prevalence of asthma across the globe, especially amongst children and older adults, is estimated to boost the market growth. According to the data by the World Health Organization (WHO), 262 million people were diagnosed with asthma in 2019. Moreover, the rising acceptance of advanced drug an medications, along with the advancement in the healthcare sector are expected to fuel the market growth.
However, lack of awareness amongst people is expected to operate as key restraint to the growth of global montelukast API market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global montelukast API market which includes company profiling of Adherium Limited, C. R. Bard, Inc., AstraZeneca Group, Cohero Health, Inc., GlaxoSmithKline plc, ConvaTec Group plc, Medline Industries, LP, Vectura Group plc, and BioTelemetry, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global montelukast API market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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