Montelukast Sodium Market size is forecast to reach $856 million by 2025, growing at a CAGR of 7.2% during the forecast period 2020-2025. Montelukast Sodium is used to treat asthma and seasonal year-round allergies. An increasing number of asthma patients and increasing prevalence of seasonal allergies also known as seasonal allergic rhinitis or hay fever are the major factors driving the growth of the market. The rise in respiratory diseases coupled with the growing geriatric population is set to further enhance the overall market demand of Montelukast Sodium during the forecast period 2020-2025.
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Product- Segment Analysis
Montelukast Sodium Amorphous segment held the largest share in the Montelukast Sodium Market in 2019 and is estimated to grow at a CAGR of 6.31% during the forecast period 2020-2025. Montelukast Sodium Amorphous is prepared by a solution of montelukast free acid in an aromatic solvent, converting the free acid to an alkali salt using methanolic sodium hydroxide, adding a hydrocarbon solvent and isolating it. Montelukast Sodium is used to prevent exercise-induced bronchoconstriction that occurs when the airways in the lungs narrow during or after exercise causing shortness of breath, wheezing, or cough. Montelukast belongs to a category of medicine called leukotriene receptor antagonists. The Montelukast Sodium Amorphous is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025 owing to its usage as an anti-asthmatic, anti-allergic, anti-inflammatory, and cytoprotective agent.
Application – Segment Analysis
Allergic Rhinitis segment held the largest share in the Montelukast Sodium Market in 2019. Allergic Rhinitis is also known as hay fever which is a type of inflammation in the nose. It is typically triggered by environmental allergens such as pollen, pet hair, dust, or mold. Inherited genetics and environmental exposures contribute to the development of allergies. Urticarial, also known as hives is an outbreak of swollen, pale red bumps or plaques on the skin that appear suddenly – either as a result of the body’s reaction to certain allergens or for unknown reasons. It usually causes itching, but also burn or sting. In patients with angioedema predominant chronic spontaneous urticarial, the addition of the leukotriene receptor antagonist montelukast to background daily antihistamine therapy was done to improve symptoms in a significant proportion of individuals. The Allergic Rhinitis segment is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Geography – Segment Analysis
North America dominated the montelukast sodium market in 2019 with a share of more than 36.7%, followed by Europe owing to the high prevalence of asthma and other respiratory diseases. Increasing patients of bronchospasm & primary dysmenorrhea and its usage to prevent wheezing, chest tightness and coughing are increasing the growth of the montelukast sodium market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to a rise in respiratory diseases, increasing patient pool, increasing disposable revenue, and technological advancements. An increasing number of asthma patients are increasing the growth of the montelukast sodium market in this region.
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Drivers – Montelukast Sodium Market
Rising respiratory diseases and increasing geriatric population is increasing the growth of the montelukast sodium market. Montelukast sodium is clinically effective in treating virus-related wheezing and clinical application and can effectively relieve the symptoms of wheezing, improve lung function, and reduce the incidence rate of infantile asthma. It is generally less preferred for this use than inhaled corticosteroids and is not useful for acute asthma attacks. Other uses include allergic rhinitis and hives of a long duration. Thus, increasing the growth of the montelukast sodium market during the forecast period 2020-2025.
Increasing the prevalence of allergic diseases and rapidly increasing urbanization is increasing the growth of the montelukast sodium market. Montelukast Sodium is used to prevent allergic reactions and asthma flareups during the administration of intravenous immunoglobulin. It is used as an adjunct therapy in the symptomatic treatment of mastocytosis. Montelukast sodium oral granules are indicated for the relief of symptoms of seasonal rhinitis in patients. Thus, increasing the growth of the montelukast sodium market during the forecast period 2020-2025.
Challenges – Montelukast Sodium Market
Some of the factors that can impede the growth of the montelukast sodium market are Lack of awareness among people and increasing side effects such as stomach pain, heartburn, nausea, and diarrhea.
Montelukast Sodium Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Montelukast Sodium Market. In 2019, Montelukast Sodium Market share is consolidated by the top ten players present in the market. Montelukast Sodium, the top 10 companies are Apotex Corp, Glenmark Generic Ltd, Kudco Ireland Ltd, Merck Sharp Dohme Corp, Morepen Laboratory, Mylan N V, Roxane Laboratories, Inc, Sandoz International, Teva Pharmaceutical Industry Ltd, and Vintage Pharmaceutical Inc among others.
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