Montelukast API Market Overview
The global montelukast API market is growing at the fastest pace, witnessing increasing demand and the expanding healthcare sector. Montelukast API is referred as pharmaceutical molecules that form the core components of drugs & medicines, either singly or in combination. It is an orally available leukotriene receptor antagonist, which is widely used in the development and manufacturing of medicines used in the treatment of asthma, respiratory problems, hay fever, allergic rhinitis, and others.
Therefore, montelukast API dominates a large part of the pharmaceuticals market. Rising prevalence of myriads of chronic diseases, including asthma, allergic rhinitis, bronchospasm, urticaria, and others, is a major driving force behind the market growth. According to Market Research Future (MRFR), the global montelukast API market is projected to reach USD 1,430,215.2 MN by 2023, registering 3.38% CAGR over the review period (2018-2023).
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Additional factors that are substantiating the market demand include growing healthcare expenditure, growing world population, and growing per capita income. Moreover, dramatically rising numbers of healthcare infrastructure, including hospitals and clinics, are expected to foster market growth. Conversely, the availability of substitutes and adverse effects associated with montelukast are the major factors anticipated to restrain the growth of the market.
Global Montelukast API Market – Segments
The report is segmented into two dynamics to widen the scope of understanding,
By Application : Asthma, Allergic Rhinitis, Bronchospasm, Urticaria, and others.
By Regions : Europe, North America, Asia Pacific, and the Middle East and Africa.
Global Montelukast API Market – Regional Analysis
North America dominates the global montelukast API market. The largest market share attributes to the rising prevalence of chronic diseases such as asthma, allergic rhinitis, bronchospasm, urticaria, and others.
Besides, factors such as the availability of advances in medical & drug development technologies, rising numbers of Pharma companies drive the regional market growth.
Also, the presence of notable players that are increasing emphasis on delivering cost-competitive product range fosters the growth of the regional market. In 2017, North America had accounted for 39.25% of the montelukast API market share. The North American montelukast API market is estimated to grow further at around 3.12% CAGR during the forecast period.
The montelukast API market in Europe holds the second-largest share in the global montelukast API market. Proliferating healthcare industry and pharmaceutical sector in the region is boosting the growth of the market. Moreover, increasing incidences of asthma, COPD, and allergies are driving the growth of the regional market excellently. The UK is the major contributor to the growth of the regional market, followed by France. The European montelukast API market value is estimated to reach USD 396,258 MN by 2023.
The Asia Pacific montelukast API market is growing rapidly, mainly due to the rising numbers of pharmaceutical and biotechnology companies. Moreover, factors such as the expanding economy and a large population driving the montelukast API market size in the region. The APAC montelukast API market is expected to register over 5.10% CAGR during the forecast period from 2018 to 2023.
Global Montelukast API Market – Competitive Landscape
The montelukast API market appears to be highly fragmented and competitive due to the presence of several well-established players. The market is commoditized, and major API classes are generic. The market has also suffered an exclusivity loss owing to patent expiration. Montelukast API market companies are building additional capacities to commercially launch portfolio and develop their APIs at the in-house R&D Centre. Focusing on new molecules and new patented processes, they look forward to investing more in R&D Infrastructure for the future growth of their company
Montelukast API Market Major Players:
Players leading the global montelukast API market include Dr. Reddy’s Laboratories Ltd (India), Merck Sharp & Dohme Corp (US), Morepen Laboratories Ltd (India), Teva Pharmaceutical Industries Ltd (Israel), Mylan N.V. (US), Hikma Pharmaceuticals PLC (UK), Sandoz International GmbH (Germany), Glenmark (India), Vintage Pharmaceuticals Inc (US), Aurobindo Pharma (India), and Hetero (India), among others.
Montelukast API Industry/ Innovation/ Related News:
October 14, 2019 —- Morepen Laboratories Ltd. (India), a leading pharmaceuticals manufacturer, announced the opening of its multi-billion APIs plants, where manufacturing is expected to begin from Dec. 2019. The company has already built additional capacities. Now, it is all set to launch three new API’s under its portfolio commercially. Morepen’s Masulkhana is already approved by the US FDA to manufacture of Loratadine, an anti-allergy drug, internationally known as Claritin. Also, new blockbuster drugs such as Desloratadine and Montelukast are manufactured at this site.
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