Global Montelukast API Market: Introduction
Montelukast is a leukotriene inhibitor prescribed to prevent asthma attacks in adults as well as children aged at least two years old. It is also used to prevent exercise-induced bronchoconstriction, primary dysmenorrhea, hay fever, and allergic rhinitis. Montelukast can help to reduce the number of times medication is used for quick relief. In 2019, the allergic rhinitis segment dominated the global montelukast sodium market.
Allergic rhinitis, often known as hay fever, is a form of nasal inflammation. It is usually induced by allergens in the environment, such as pollen, pet hair, dust, or mold. Allergies are caused by inherited genetics as well as environmental exposures. Urticarial, commonly known as hives, is a rapid breakout of swollen, light red bumps or plaques on the skin caused by the body's reaction to specific allergens or for unexplained reasons. Itching is the most common symptom, although it can also burn or sting.
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Global Montelukast API Market: Drivers, Restraints, Opportunities
- Increase in incidence of illnesses such as asthma, exercise-induced bronchospasm, allergic rhinitis, primary dysmenorrhea, and urticaria is a key driver of the global montelukast API market
- According to the World Health Organization, asthma affects around 235 million people globally. Over 80% of asthma-related fatalities occur in low- and lower-middle-income countries. Increase in the number of patients drives the demand for montelukast sodium. However, adverse effects such as stomach discomfort, heartburn, upset stomach, nausea, and diarrhea are projected to hamper the growth of the global market.
- Montelukast sodium is used to treat asthma symptoms such as wheezing, trouble breathing, chest tightness, and coughing in adults and children 12 months of age and older. Rise in prevalence of asthma increases the usage of montelukast sodium. According to the Centers for Disease Control and Prevention (CDC), asthma affects one in every 13 individuals globally. In 2017, over 25 million people in the U.S. had asthma, accounting for 7.7% of adults and 8.4% of children. Asthma affects around 6.2 million children under the age of 18. Every year, asthma accounts for 9.8 million physician office visits, 188,968 hospital inpatient discharges, and 1.8 million emergency department visits. Hence, increase in incidence and prevalence of asthma boost the growth of the global market.
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- Surge in side effects and lack of awareness among people are factors anticipated to hamper the growth of the global montelukast API market during the forecast period. Additionally, lack of awareness among people and increase in side effects such as stomach pain, heartburn, nausea, and diarrhea are expected to restrain the global montelukast API market.
- Mergers & acquisitions, R&D activities, product launches, and joint ventures are the leading strategies adopted by players in the global montelukast API market. In February 2019, Sandoz International acquired Aspen Global Incorporated. Teva Pharmaceutical Industry Ltd. acquired Actavis Generics in 2016.
North America Accounted for Major Share of Global Montelukast API Market
- North America is likely to dominate the global market during the forecast period due to presence of leading companies, high incidence of asthma & other respiratory illnesses, and well-established health care infrastructure. Moreover, government efforts and increase in the number of research collaborations are projected to drive the market in the region in the next few years. The U.S. held the largest share of the market in North America in 2020 due to favorable health care regulations, large number of patients, and well-developed health care infrastructure.
- According to the Centers for Disease Control and Prevention, around 8.1% of the population of the U.S. has asthma. Hence, increase in patient pool and rise in disposable income in the country boost the growth of the market in the region.
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Key Players Operating in Global Montelukast API Market
- Merck & Co. Inc.
- Cipla Limited
- Morepen Laboratories
- Sun Pharma
- Teva Pharmaceutical Industries Ltd.
- Intas Pharmaceuticals Ltd.
- Apotex, Inc.
- Sanyo Chemical Industries Ltd.
- Mylan N.V.
- Delmar Chemicals, Inc.
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