Montelukast Intermediate Market Competitive Landscape, Segmentation 2023
The Montelukast Intermediate Market is estimated to be valued at USD 4,794.763 thousand by 2023 and Expected to register CAGR of 4.34% During the Forecast Period.
The Global Montelukast Intermediate Market has been evaluated as a moderately growing market, and it is expected that the market will continue to grow similarly in the near future. Montelukast is a leukotriene receptor antagonist (LTRA) used to prevent wheezing, difficulty in breathing, chest tightness, and coughing caused by asthma. In addition, montelukast is indicated for the treatment of seasonal and perennial allergic rhinitis. Key factors driving the market growth are worldwide rising prevalence of asthma, bronchospasm, allergic rhinitis, and urticaria, burgeoning pharmaceutical industry coupled with the increasing demand from active pharmaceutical ingredients (APIs) manufacturers, and montelukast patent expiration along with the increasing presence of generics.
All the major players are competing with each other to capture a major stake of the market. Other small companies are also holding a small but marginal share in this market.
However, the only bottleneck in a growth trajectory of the global Montelukast Intermediate market is the presence of stringent regulatory policies and the high cost of manufacturing building blocks for active pharmaceutical ingredients.
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The global Montelukast Intermediate market, by application, can be classified into three types, namely, asthma, allergic rhinitis, bronchospasm, and urticaria.
Market Research Future (MRFR) recognizes the following companies as the key players in the global Montelukast Intermediate market that includes Lonza, Merck KGaA, Oxford BioMedica, Spark Therapeutics, Inc., FinVector Vision Therapies, Novasep, FUJIFILM Diosynth Biotechnologies U.S.A., Inc, Brammer Bio and uniQure N.V.
On the basis of region, the global montelukast intermediate market has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
North America is expected to dominate the market. The market growth in this region is mainly due to the presence of giant pharmaceutical companies and sophisticated healthcare infrastructure and the rising prevalence of asthma and allergic rhinitis in the US and Canada
Europe currently holds a significant share in the global Montelukast Intermediate market. The poor air quality due to high fuel emission is increasing the incidence of asthma, allergy, and chronic obstructive pulmonary disease (COPD) in the UK, Germany, and France. The European Respiratory Society reported that, currently, about 30 Million children and adults less than 45 years old have asthma within the UK and Ireland have some of the highest rates of asthma in the world. In Germany, there are an estimated 4 Million asthmatics. In addition, an article published in the NCBI journal stated that the prevalence of allergic diseases in Europe is high. The prevalence of allergic rhinitis in the region is ranging from 17% to 29%, whereas asthma varies from 1.3% to 11% among children and adults.
Asia-Pacific is expected to represent a promising outlook over the forecast period due to the growing geriatric population along with the rising prevalence of respiratory diseases. According to the WHO, currently, there are about 3 million asthmatics in Japan of whom 7% have severe, and 30% have moderate asthma. In Australia, one child out of six under the age of 16 is affected by asthma, while, India has an estimated 15 to 20 Million asthmatics population. Currently, the prevalence of asthma is between 10% and 15% in 5 to 11-year-old children in India. In October 2018, more than 25% of the total population of India was sensitized with different forms of allergens and suffered from atopic rhinitis, bronchial asthma, urticaria, dermatitis, oral and gastrointestinal symptoms, ocular allergy, and life-threatening anaphylaxis.
The Middle East and Africa market is projected to hold the least share in the global montelukast intermediate market. In this region, the Middle East is anticipated to dominate owing to the presence of countries such as Egypt, Saudi Arabia, and others.
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Key Findings of the Study:
- Global Montelukast Intermediate Market is projected to reach over 4,794.763 Thousand by 2023 with 34% CAGR during the review period of 2018-2023.
- Americas accounted for the largest share due to the rising prevalence of asthma and allergic rhinitis in the US and Canada and increasing research and development activities related to the pharmaceutical intermediates.
- Asthma segment by application is projected to value 65 thousand in 2023.
This research report provides the insights, on various levels of analyses such as industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Montelukast Intermediate Market, including the high-growth regions and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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