Global Montelukast API Market Highlights over 2022 – 2031
The global montelukast API market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Montelukast is a medication used in the maintenance treatment of asthma. The growth of the market can be attributed to the increasing prevalence of asthma amongst all age groups across the globe. According to the data by the World Health Organization (WHO), 262 million people were diagnosed with asthma in 2019, which caused 461000 deaths globally. Factors, such as, exposure to polluted air, chemicals, fumes, or dust, along with genetic makeup or smoking, are mainly responsible for the high cases of asthma across the world. Moreover, the growing health awareness amongst people, along with adoption of advanced drugs and medication are anticipated to boost the market growth.
The market is segmented by application into asthma, allergic rhinitis, bronchospasm, and others, out of which, the asthma segment is anticipated to hold a substantial share in the global montelukast API market over the forecast period on account of increasing prevalence of asthma, along with the growing government initiatives to curb the cases of asthma. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Montelukast API Market Regional Synopsis
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 Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of high geriatric population, along with the rising cases of asthma, as older people are more vulnerable to respiratory diseases.
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 in the developed countries. A report by the Asthma and Allergy Foundation of America (AAFA) stated that approximately 25 million Americans suffer from asthma, including 5.1 million children under the age of 18.
The global montelukast API market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global montelukast API market includes the following segments:
By Application
- Asthma
- Allergic Rhinitis
- Bronchospasm
- Others
By End-User
- Hospitals
- Specialty Clinics
- Home Care
- Others
Growth Drivers
- Increasing Prevalence of Asthma Globally
- Growing Geriatric Population
Challenges
- Lack of Awareness among People
- Side Effects of Montelukast API
Top Featured Companies Dominating the Market
- Astellas Pharma Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Adherium Limited
- C. R. Bard, Inc.
- AstraZeneca Group
- Cohero Health, Inc.
- GlaxoSmithKline plc
- ConvaTec Group plc
- Medline Industries, LP
- Vectura Group plc
- BioTelemetry, Inc.
