Kenneth Research published a report titled “Montelukast API Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global montelukast API market in terms of market segmentation by type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global montelukast API market is expected to grow at ~4% CAGR over the forecast period, i.e., 2022-2031. The market is segmented by application into urticaria, asthma, bronchospasm, allergic rhinitis, and others, out of which, the asthma segment is expected to hold the largest share over the forecast period. This can be attributed to the surge in the population dealing with asthma problem across the globe.
Increase in the demand for montelukast for the treatment of patients to control symptoms including wheezing, coughing, short breathing and chest tightness is expected to surge the growth of the global montelukast API market. Moreover, increase in the aged population are more inclined towards the increase in the illness cases owing to their low immunity system. Therefore, increase in the aged population is expected to surge the growth of the global montelukast API market.
Geographically, the global montelukast API market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of them, Asia Pacific region is estimated to witness modest growth by the end of 2031 owing to the increase in the number of aged population.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rise in the Number of Asthma, Allergic Rhinitis, Urticaria, and Other Illness Cases to Drive the Growth of the Market
According to the Centers for Disease Control and Prevention, 7.7 % of the U.S total population suffers from asthma disease in 2018.
Backed by the increase in the number of asthma, allergic rhinitis, urticaria, and other illness cases, there has been a surge in the demand for montelukast for the treatment of patients. Furthermore, montelukast controls symptoms in patients that include wheezing, coughing, shortness of breath, and chest tightness. Therefore, it is expected to increase the growth of the global montelukast API market.
However, an increase in the side effects of montelukast in patients and lack of awareness related to relief from the use of montelukast are expected to operate as key restraint to the growth of global montelukast API market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global montelukast API market which includes company profiling of Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Hikma Pharmaceuticals PLC, Intas Pharmaceuticals Ltd., Vintage Pharmaceuticals, LLC (Dun & Bradstreet, Inc.), SANYO CHEMICAL INDUSTRIES, LTD., Mylan Viatris Inc., Dr. Reddy’s Laboratories Ltd., Merck & Co., Inc., Cipla Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global montelukast API market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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