Montelukast Sodium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Montelukast Sodium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The montelukast sodium market studied was projected to record a CAGR of nearly 12.6% over the forecast period (2022 - 2027).

As montelukast sodium is the recommended treatment for the COVID-19 prognosis, the market for this medication has a beneficial effect on COVID-19. According to an article titled "Montelukast Drug May Improve COVID-19 Prognosis: A Review of Evidence" that was published in the Frontier in Pharmacology in September 2020, Montelukast (MK) has the potential to offer as many synergistic and potentiating therapeutic choices as COVID-19. The COVID-19 pandemic has affected millions of people in 196 countries. Focusing on the immediate repurposing of existing medications offers hope for containing the pandemic because at the outset there is no effective therapy, chemoprevention, or immunization. Intriguingly, a recent in silico investigation of the primary protease of CoV-2 found montelukast (MK), a member of the leukast family, as one of the top-scoring therapeutically focused medications likely to prevent SARS. As a result, the market under study has benefited due to an increase in montelukast demand during COVID-19.

The major factor attributing to the growth of the market is the increase in the prevalence of diseases, such as asthma, exercise-induced bronchospasm, allergic rhinitis, primary dysmenorrhea, and urticaria. Asthma is a typical noncommunicable disease (NCD) that affects both children and adults, according to a World Health Organization report from May 2021. In 2019, 461000 individuals died as a result of asthma, which affected an estimated 262 million people. In low- and lower-middle-income nations, asthma-related deaths account for more than 80% of all fatalities. The need for montelukast sodium develops together with the growth in the number of patients. Furthermore, the prevalence of CSU is thought to range between 0.23 percent and 1.8 percent in the United States and around the world, according to a study by Dominique Dabija and Prasanna Tadi that was published in National Institutes Of Health in September 2021. There is a significant gender bias, with women being impacted more frequently than men. Both children and adults are impacted, however the prevalence is highest in people between the ages of 40 and 60. The market under study is anticipated to grow as urticaria becomes more common worldwide. Additionally, an expanding worldwide elderly population is fueling market expansion. The World Ageing 2020 research estimates that 727 million individuals worldwide will be 65 years of age or older in 2020. In 2050, it is expected that there will be 1.5 billion senior people. In the world, the proportion of people 65 and older climbed from 9.3 percent in 2020 to 16 percent in 2050. Asthma is a disease that affects persons over 65 frequently, hence the rising geriatric population is anticipated to fuel market expansion over the forecast period.

However, side effects with the product, such as stomach pain, heartburn, upset stomach, nausea, and diarrhea, may restrain the market growth.

Key Market TrendsAsthma Segment is Expected to be Dominating in the Montelukast Sodium Market

One of the most widespread illnesses in the world, asthma is also a potentially fatal disorder that impairs patients' ability to breathe normally. It is a chronic disorder that tightens and stretches the lungs' airways, leading to recurrent episodes of shortness of breath, bronchospasm, and reversible airflow blockage. In addition, there has been a significant increase in smoking, which aggravates asthma symptoms. Montelukast sodium is used to treat asthma in adults and children 12 months of age and older by preventing symptoms like wheezing, breathing problems, chest tightness, and coughing. The use of montelukast sodium rises together with the global prevalence of asthma. In March 2021, 1 in 13 people were estimated by the Centers for Disease Control and Prevention (CDC) to have asthma. In 2019, there are more than 25 million Americans who have asthma, or 8% of adults and 7% of children. Asthma affects around 6.2 million children under the age of 18. Each year, 1.8 million emergency room visits, 188,968 discharges from hospital inpatient care, and 9.8 million doctor office visits are attributed to asthma. Consequently, it is anticipated that as the incidence and prevalence of asthma rise, so will the need for montelukast sodium, driving the market's rapid expansion. The benefits of using Montelukast sodium in the treatment of asthma, urticaria, and the rising incidence of asthma hence all of the aforementioned factors contribute to the segment's growth.

North America is Dominating the Montelukast Sodium Market

North America is expected to dominate the overall market, due to factors, such as the presence of key players, high prevalence of asthma and other respiratory diseases, and established healthcare infrastructure, which are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. Due to its pro-health care legislation, large patient population, and developed healthcare market, the United States has the largest share in this region. Approximately 7.8% of Americans had asthma in 2019, according to the Centers for Disease Control's April 2021 report. According to statistics, the country's growing patient base and rising disposable income support the region's market expansion. Additionally, about 25 million Americans suffer from asthma each year, according to the Asthma and Allergy Foundation America in April 2021. One in thirteen Americans, or 8 percent of adults and 7 percent of children, fall into this category. About 20 million American individuals age 18 and older have asthma as of 2019. As a result, the market in the area is boosted by all of the aforementioned factors, including the increased prevalence of asthama and the existence of the major market participant.

Competitive Landscape

The montelukast sodium market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Merck & Co. Inc., Morepen Laboratories, Teva Pharmaceuticals USA Inc., Mylan NV, Cipla Limited, Intas Pharmaceuticals Ltd, SUN PHARMA, Apotex Inc, Sanyo Chemical Industries Ltd, and Delmar Chemicals Inc.

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• The market estimate (ME) sheet in Excel format
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