As per MRFR analysis, the Pranlukast Market Size was estimated at 1.68 (USD Billion) in 2023.The Pranlukast Industry is expected to grow from 1.78(USD Billion) in 2024 to 2.58 (USD Billion) by 2032. The Pranlukast Market CAGR (growth rate) is expected to be around 4.18% during the forecast period (2024 - 2032).
The Pranlukast market is driven by factors such as the rising prevalence of asthma and allergic rhinitis, growing awareness of the benefits of Pranlukast, and increasing government initiatives to improve respiratory health. Key market trends include the development of new pranlukast formulations and the expansion of the market into emerging economies.
The market also offers opportunities for the exploration of new applications of pranlukast, such as in the treatment of chronic obstructive pulmonary disease (COPD).
In recent times, the market has witnessed an increase in the adoption of pranlukast as a first-line treatment for asthma and allergic rhinitis. Additionally, the market is expected to benefit from the growing healthcare expenditure and the rising demand for effective and affordable respiratory medications.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Asthma and chronic obstructive pulmonary disease are the most common respiratory conditions as well as the most common chronic diseases people have all over the world. Pranlukast can be used as a medication to prevent and treat asthma and COPD. The condition of the market is represented by the development of the growth. WHO reports that the number of people affected by asthma amounts to over 262 million people and by COPD to over 384 people. Given the data, the number of the affected will only increase over time.
The reasons are air pollution, smoking, obesity and so forth. Given the situation the demand for medication will also grow since pranlukast can be used as the means of successful treatment of the identified issues. A significant role in the development of the market has been played by the governments that have introduced programs to deal with chronic diseases and raise the level of awareness among people. Additionally, the number of people who are affected by respiratory allergies and hypersensitivity disorders and thus need treatment has also been growing, supporting the efficiency of pranlukast.
Pranlukast is a generic drug. Consequently, several companies can produce it. Generic drugs are usually cheaper than their brand-name counterparts, which is why the medication in question is more available to general consumers. It should be noted that the popularity of generic pranlukast is the primary factor affecting the growth of the industry. According to the Pranlukast Market Industry, the market is witnessing an upsurge in demand for generic Pranlukast due to economic requirements. This statement means that generic pranlukast is being requested by customers and otherwise helps make the product more available and within reach of people.
Pranlukast is a medication that is relatively new to the market, and awareness of the property of action has not reached many people yet. As more and more patients discover the medication, they will have more demand for it. The Pranlukast Industry is gaining awareness of the property of action, and this is attributed to the various ways that the health sector is conducting research and advancements in respiratory medicines.
Over time, doctors and healthcare givers are becoming more familiar with the efficacy and safety profile that pranlukast provides; hence the frequency of prescription is rising. This awareness is expected to grow as the health sector continues to play its role in educating patients through various communication programs.
The Pranlukast Market segmentation by Treatment Type comprises Asthma and Chronic Obstructive Pulmonary Disease (COPD). Asthma is a chronic respiratory disease that causes inflammation and narrowing of the airways, leading to difficulty breathing. COPD is a group of progressive lung diseases that cause airflow blockage and breathing-related problems.
In 2023, the Asthma segment held a larger share of the Pranlukast Market revenue compared to COPD. This dominance is attributed to the higher prevalence of asthma worldwide and the wider use of pranlukast in managing its symptoms.
The Pranlukast Market for Asthma is projected to maintain its dominance throughout the forecast period, driven by the increasing prevalence of asthma and the growing demand for effective and safe treatment options. The COPD segment, on the other hand, is anticipated to exhibit a steady growth rate during the forecast period. This growth is attributed to the rising incidence of COPD due to factors such as smoking, air pollution, and the aging population. The Pranlukast Market for COPD is expected to benefit from the growing awareness about the disease and the increasing adoption of Pranlukast as a treatment option.
Overall, the segmentation of the Pranlukast Market by Treatment Type provides valuable insights into the market dynamics and competitive landscape. By understanding the specific needs and trends within each segment, manufacturers can tailor their products and marketing strategies to cater to the evolving market demands and drive market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The market is segmented based on drug formulation into tablets, suspensions, and inhalers. The tablets segment dominated the market in 2023 and is anticipated to witness significant CAGR throughout the forecast period. This is attributable to the high prevalence of asthma and allergic rhinitis, coupled with the easy administration and cost-effectiveness of tablets.
Meanwhile, slight growth is expected to take place in the suspension segment supported by the massive availability of liquid formulations designed for pediatric and geriatric populations. The inhaler segment is also anticipated to gain traction with the rising preference towards inhaled therapies for the management and control of various respiratory disorders.
The Pranlukast Market is segmented into various distribution channels, including hospital pharmacies, retail pharmacies, and online pharmacies. Among these, hospital pharmacies are expected to account for the largest share of the market in 2023, owing to the high volume of prescriptions dispensed in hospitals. Retail pharmacies are also expected to hold a significant share of the market, driven by the convenience and accessibility they offer to patients.
Online pharmacies are projected to witness the fastest growth during the forecast period as more and more patients opt for the convenience of purchasing medications online.
The Pranlukast Market segmentation by Dose Strength comprises 75 mg, 150 mg, and 300 mg. In 2023, the 150 mg segment held the largest market share at 48.5%, followed by the 300 mg segment at 35.2% and the 75 mg segment at 16.3%. The 150 mg segment is projected to continue its dominance in the market and is expected to account for around 50% of the market by 2032.
The growth of this segment can be attributed to the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) coupled with rising patient preference for a once-a-day dosing regimen. The 300 mg segment is also expected to witness steady growth during the forecast period, driven by the increasing adoption of high-dose Pranlukast in severe asthma cases.
Regionally, North America dominated the market in 2023 and is projected to maintain its dominance throughout the forecast period. The large patient population suffering from asthma and allergies, coupled with the presence of key market players, contributes to the region's significant market share.
Europe holds the second-largest market share, driven by the increasing prevalence of respiratory conditions and government initiatives to improve healthcare infrastructure. APAC is anticipated to witness the fastest growth over the forecast period due to the rising incidence of asthma and allergies in emerging economies such as China and India.
South America and MEA are expected to contribute a smaller share to the market, but growth is projected in these regions due to increasing healthcare spending and awareness about respiratory diseases.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Continuous research and development and focus on partnership and collaboration is a major strategy adopted by these players to establish a strong presence in the industry. Also, players focus on partnership and acquisition to extend their product line and widen their geographic presence. Such growth strategies are also expected to support the competitive landscape of the Pranlukast Market industry in the near future. Leading Pranlukast Market top key players with their profiles, sales data and product description, demand, market size, competitive landscape, and industry-specific challenges.
AstraZeneca is the leading company in the Pranlukast Market with a strong presence across the world. The company offers a broad range of products, including Symbicort, Pulmicort, and Alvesco. Being a leading company, AstraZeneca has a strong focus on research and development and invests continuously in new products and technologies. The company has a strong sales and marketing network, which enables it to reach a wide range of customers.
GlaxoSmithKline is another major player in the Pranlukast Market with a strong presence across the world. The company offers a number of products including Advair, Serevent and Flovent. GlaxoSmithKline has a strong focus on research and development and invests continuously in new products and technologies. The company has a strong sales and marketing network, which enables it to reach a large number of customers.
The Pranlukast market is anticipated to reach USD 2.4 billion by 2032, expanding at a CAGR of 4.23% from 2024 to 2032. The increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) is driving market growth. Pranlukast, a leukotriene inhibitor, is widely used to treat these conditions. Moreover, rising healthcare expenditure and growing awareness about respiratory diseases contribute to market expansion.
Key players in the market include AstraZeneca, Cipla, and Glenmark Pharmaceuticals. Recent developments include the launch of generic Pranlukast products, which are expected to intensify competition and drive down prices. Additionally, research efforts are focused on developing new and more effective leukotriene inhibitors, which could further shape the market landscape.
| Report Attribute/Metric | Details |
| Market Size 2023 | 1.68 (USD Billion) |
| Market Size 2024 | 1.78(USD Billion) |
| Market Size 2032 | 2.58 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.18% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Intas Pharmaceuticals Ltd., Mylan N.V., Cadila Healthcare Limited, Teva Pharmaceutical Industries Ltd., Ipca Laboratories Ltd., Sandoz International GmbH, Emcure Pharmaceuticals Ltd., Torrent Pharma, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., AstraZeneca, Cipla Ltd., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Lupin |
| Segments Covered | Treatment Type, Drug Formulation, Distribution Channel, Dose Strength, Regional |
| Key Market Opportunities | Asthma prevalence rises Growing geriatric population Increasing respiratory allergies Technological advancements Rising awareness. |
| Key Market Dynamics | Increasing prevalence of asthma, growing geriatric population, rising demand for inhaled therapies, technological advancements, favorable reimbursement policies |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Pranlukast Market is anticipated to hold a valuation of approximately USD 1.68 billion in 2023.
The Pranlukast Market is projected to grow at a CAGR of 4.18% from 2024 to 2032.
By 2032, the Pranlukast Market is expected to reach a valuation of around USD 2.58 billion.
North America is expected to hold the largest market share in the Pranlukast market during the forecast period.
Factors such as the growing prevalence of asthma and chronic obstructive pulmonary disease (COPD) and increasing healthcare expenditure are driving the growth of the Pranlukast Market.
Pranlukast is primarily used for the prevention and treatment of asthma, particularly in children and adults.
Major players in the Pranlukast Market include AstraZeneca, Cipla, and Sun Pharmaceutical Industries.
AstraZeneca holds a significant market share in the Pranlukast Market, owing to its strong brand recognition and extensive product portfolio.
Challenges in the Pranlukast Market include intense competition, stringent regulatory requirements, and the development of generic alternatives.
Growth opportunities include the expansion into emerging markets, the introduction of combination therapies, and the development of new formulations.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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