Montelukast API Market is Increasing Incidence of Asthma and Set Growth at a CAGR of 12.50% During 2023-2032

Pune, India, May 2023, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Montelukast API Market.

Market Highlights

The Global Montelukast API Market is expected to register a CAGR of 12.50% during the forecast period (2023-2032) and is projected to surpass USD 2.30 Billion by 2032.

The asthma segment is expected to lead the market and register a substantial CAGR to reach USD 700,730.7 thousand by the end of forecast period owing to the rising prevalence of asthma. Montelukast API is much in demand across the globe for the treatment of asthma. However, the allergic rhinitis segment is projected to exhibit the highest CAGR of 3.11% during the forecast duration. The rising rate of allergic rhinitis cases is driving the growth of the segment.

North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% over the forecast period.   

Segment Analysis

The global montelukast API market has been segmented on the basis of applications, and region. On the basis of the applications, the market has been divided into asthma, allergic rhinitis, bronchospasm, urticarial and others. The asthma segment held the majority market share in 2017. Allergic rhinitis segment is expected to be the fastest-growing, followed by the asthma segment. Rising prevalence of allergic rhinitis is driving the growth of the segment.

Explore In-depth Details: Montelukast API Market Research Report

Market Players

Market Research Future (MRFR) recognizes Merck Sharp & Dohme Corp (US), Dr. Reddy’s Laboratories Ltd (India), Morepen Laboratories Ltd (India), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd (Israel), Hikma Pharmaceuticals PLC (UK), Glenmark (India), Sandoz International GmbH (Germany), Vintage Pharmaceuticals Inc (US), Hetero (India) and Aurobindo Pharma (India) as the key players in the global montelukast API market.

Regional Analysis

North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% during the forecast period from.

The European market is estimated to exceed USD 396,258 thousand. Increasing incidence of asthma, COPD, and allergies are driving the growth of the Montelukast API market in the region. The UK is the major contributor to the growth of the regional market, followed by France.

Key Findings of the Study:

• The Global Montelukast API Market is projected to grow at 12.50% CAGR during the review period of 2023-2032.

• North America accounted for the largest market share with the US being the major contributor to the growth of the market.

• The allergic rhinitis segment is projected to register the highest CAGR of 3.89% during the forecast period owing to the rising rate of allergic rhinitis cases.

• Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies.