The global Montelukast API Market report explores the critical analysis of the montelukast API industry using key parameters. The report consists of investment strategies, the need for investments in the montelukast API industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the montelukast API industry and how economic and non-economic barriers are helping the market grow. Moreover, the report examines historic and forecasted market sizes at the global, regional, and country levels. The report also includes an in-depth examination of key investment propositions, the demand and supply gap, competitor positioning, SRC analysis, STAR analysis, and Tornado analysis. Important technological advancements and other analyses, including Porter's Five Forces, PESTEL, Value Chain, etc.
Key Highlights of the report
How are the major segments performing in the Montelukast API Market?
The montelukast sodium amorphous segment led the market in terms of product type in 2021 and is expected to continue throughout the projection period. Montelukast sodium amorphous is an anti-allergic, anti-asthmatic, cytoprotective, and anti-inflammatory agent that can treat various diseases. In adults and children 12 months of age and older, montelukast sodium amorphous treats asthma symptoms like difficulty breathing, wheezing, chest tightness, and coughing. The use of montelukast sodium amorphous product type is growing along with the prevalence of asthma.
In 2021, the tablet segment in dosage form led the market due to factors such as lower manufacturing costs compared to other forms, preferred by the majority of people due to several advantages over powder and liquid forms such as no unpleasant odor as the drug is extremely compact and coated with enteric or sugar.
The asthma segment led the application market in 2021 and is expected to continue throughout the projection period. Asthma, one of the most common diseases in the world, affects patients' ability to breathe normally and is a potentially fatal condition. Montelukast Sodium, also known as Singulair, is a leukotriene inhibitor used to treat complications associated with Asthma, such as shortness of breath. Montelukast sodium use rises in tandem with the global prevalence of asthma. According to the Centers for Disease Control and Prevention (CDC), asthma affects 1 in 13 people as of March 2021. All of the factors mentioned above and the benefits of using Montelukast sodium in treating asthma, urticaria, and the rising incidence of asthma contribute to the segment's growth.
Which region dominated the Montelukast API Market?
North America dominated the global montelukast API market in 2021 due to leading manufacturers, the high prevalence of asthma and other respiratory diseases, and the region's well-established health care infrastructural facilities. Government initiatives and expanded research collaborations are also anticipated to fuel the region's market during the forecast period. The U.S. held the largest market share in North America in 2021, owing to favorable healthcare regulations, advanced healthcare facilities, and a large patient population. The Centers for Disease Control and Prevention estimate that 8.1% of Americans have asthma. As a result, increasing the country's patient population and disposable income boosts the region's market growth.
What is the competitive environment of the Montelukast API Market?
The key strategies adopted by the key players in the montelukast API market are acquisitions and mergers, product launches, joint ventures, and R&D. For instance, Morepen Laboratories received approval from the US Food and Drug Administration in December 2021 to market its generic anti-allergy drug (Fexofenadine Hydrochloride) in the US market. On the other hand, Valeo Pharma Inc. signed a commercialization and supply agreement with Novartis Pharmaceuticals Canada Inc. in March 2021 to commercialize their two asthma therapies in Canada.
Executive Summary
What are all technical developments being developed in the Montelukast API Market?
The global market for montelukast API has benefited greatly from the development of technologies. Increasing mergers and acquisitions among key market players, improving technological advancements, and huge investment in R&D activities by developed and developing regions worldwide are expected to drive market growth throughout the forecast period. For instance, Astellas Pharma Inc. and Iota Biosciences, Inc. announced a merger agreement in October 2020, after which Astellas will acquire Iota's unique bioelectronics technology. Similarly, in July 2019, ADEA Medical AB, a Swedish provider of medical technologies and healthcare services, was purchased by BioTelemetry. This acquisition will add diagnostic products to the BioTelemetry portfolio.
Which are the key investments by the players in the Montelukast API Market?
Rising R&D investments in new drugs and technological advancements will open up lucrative opportunities for major market players. Various investments are made across the key player. For instance, since 2000, global R&D spending has more than tripled in real terms, rising from USD 677 billion to USD 2.2 trillion in 2019. On the other hand, Sandoz International acquired Aspen Global Incorporated in February 2019.
Some of the major players in the market are Cipla Ltd, Merck & Co. Inc, Morepen Laboratories, Sun Pharma, Teva Pharmaceutical Industries Ltd, Intas Pharmaceuticals Ltd, Apotex, Inc, Sanyo Chemical Industries Ltd, Mylan N.V., and Delmar Chemicals Inc.
What are the Major Driving Factors for the Montelukast API Market?
The rising prevalence of asthma is expected to drive market growth over the forecast period. The rise in respiratory diseases and the growing geriatric population are key factors driving the market growth. According to the World Health Organization, asthma affects approximately 235 million people worldwide. More than 80% of asthma-related deaths occur in low- and lower-middle-income countries. An increase in patients further drives demand for the montelukast API market over the forecast period.
What are the Major Risks for the Montelukast API Market?
While using montelukast sodium as a leukotriene inhibitor may help treat breathing problems, asthma, and many allergies, several health side effects could delay or prevent the market's consistent growth. The rise in side effects such as nausea, stomach pain, diarrhea, and heartburn and lack of public awareness is expected to impede the market growth during the forecast period.
Which is the key Application in the Montelukast API Market
The asthma segment dominated the montelukast API market in 2021. One of the most widespread illnesses in the world, asthma is also a potentially fatal condition that impairs patients' ability to breathe normally. It is a chronic condition that tightens and stretches the lungs' airways, leading to recurrent episodes of shortness of breath, bronchospasm, and reversible airflow obstruction. Correspondingly, smoking has significantly increased, which makes asthma symptoms worse. Montelukast API treats asthma in adults and children 12 months of age by preventing symptoms like wheezing, breathing problems, chest tightness, and coughing. The use of montelukast API rises along with the global prevalence of asthma. 9.8 million visits to the doctor's office, 188,968 discharges from hospital inpatient care, and 1.8 million trips to the emergency room are all attributed to asthma each year. As a result, the market is anticipated to grow rapidly due to the rising incidence and prevalence of asthma and the consequent increase in demand for montelukast API. The benefits of using montelukast API in treating urticaria, asthma, and the rising prevalence of asthma, among other factors, all contribute to the segment's growth.
How is the Montelukast API Market performing in regions?
North America dominated the global montelukast API market in 2021 due to major players, the high prevalence of asthma and other respiratory diseases, and the developed healthcare infrastructure. Moreover, the Asthma and Allergy Foundation of America reported in April 2021 that about 25 million Americans worldwide have asthma. 8% of adults and 7% of children, or one in every thirteen Americans, fall into this category. Asthma affects approximately 20 million adults in the United States over 18. Asthma claims the lives of ten Americans every day. 3,524 people lost their lives to asthma in 2020.
Besides, Asia-Pacific is expected to grow the most during the forecast period due to an increasing geriatric population and asthma prevalence, as the elderly population is more susceptible to respiratory diseases. According to WHO reports, by 2050, one in every four people in the Asia Pacific region will be over 60, and the prevalence of asthma in the elderly population ranges from 1.3 to 15.3%, compared to 5% of adults in the region. Furthermore, rising asthma awareness and a growing regional healthcare sector are expected to drive market growth.
What is the regulatory landscape for the Montelukast API Market?
One of the factors anticipated to spur market growth is the increase in research partnerships and helpful government initiatives. Regulatory bodies may also specifically indicate some formulations, such as chewable montelukast tablets, for the prophylaxis and chronic care of asthma, including the prevention of daytime and night-time symptoms, the therapeutic interventions of acetylsalicylic acid-based asthma, and the prevention of exercise-induced bronchoconstriction in both adult and pediatric patients. Moreover, when used for these purposes, montelukast is thought to be effective either alone or in combination with other drugs for chronic asthma maintenance. Montelukast and inhaled corticosteroids, for instance, can be used concurrently to show additive effects to control asthma or to reduce the required dose of inhaled corticosteroids while still maintaining clinical stability.
What is the Market Size of the Montelukast API regarding value?
The global montelukast API market is anticipated to grow at a substantial CAGR of 9.8% in the upcoming years. The global montelukast API industry was estimated to be worth USD XX billion in 2021 and was expected to be worth USD XX billion by 2028.
What are the major players planning for the future of the Montelukast API Market?
There is a high demand for products and more effective delivery technologies to prevent asthma and other respiratory diseases. Besides, several government organizations and campaigns have increased funding for montelukast API production, expected to drive market growth during the forecast period. Asthma symptoms such as constricted airways in the lungs are prevented by the action of a substance blocked by montelukast sodium medication. It functions as both an antiasthmatic and a leukotriene receptor antagonist. To treat seasonal allergic rhinitis and prevent exercise-induced bronchoconstriction, market players will frequently use the leukotriene receptor antagonist montelukast as part of an asthma treatment plan.
Segmentation of Global Montelukast API Market -
Global Montelukast API Market – By Product Type
Montelukast Sodium Amorphous
Montelukast Sodium Crystalline
Global Montelukast API Market – By Dosage Form
Tablet
Chewable Tablet
Oral Solution
Global Montelukast API Market – By Application
Asthma
Allergic Rhinitis
Urticaria
Bronchospasm
Others
Global Montelukast API Market – By Region
North America
The U.S.
Canada
Europe
Germany
France
The U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Frequently asked questions about the globalMontelukast API Market
The montelukast API market suffered less from the COVID-19 pandemic, which resulted in a moderate decline of over 1.2% in revenue generated in 2020.
North America accounted for the highest share in the global montelukast API market regarding value and volume.
The rising prevalence of asthma is expected to drive market growth over the forecast period. The rise in respiratory diseases and the growing geriatric population are key factors driving the market growth.
Tablet had a major share in 2021, with more than 58% of the market revenue share. Besides, the chewable tablet is projected to witness the fastest growth.
Asthma had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.
