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Global Montelukast API Market to Grow at a CAGR of ~10% During 2022-2031; Market to Grow on the Back of the Increasing Prevalence of Asthma and Upsurge in the Geriatric Population

·7 min read
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Key Companies Covered in the Global Montelukast API Market Research Report by Research Nester Are Astellas Pharma Inc., Adherium Limited, C. R. Bard, Inc., AstraZeneca Group, Cohero Health, Inc., GlaxoSmithKline plc, ConvaTec Group plc, Medline Industries, LP, Vectura Group plc, BioTelemetry, Inc., and other market players.

New York, July 26, 2022 (GLOBE NEWSWIRE) -- Asthma affects about 25 million people in the US. This is roughly 1 in every 13 persons. Asthma affects over 20 million American individuals aged 18 and over and adult females are more likely to experience it than adult males. It affects about 9.8% of adult females, compared to 6.1 percent of adult males. It is the most prevalent chronic illness in kids. There are about 5.1 million children under the age of 18 that suffer from asthma. Asthma claims the lives of 11 Americans on average each day. 4,145 people died from asthma in 2020.

Research Nester has published a detailed market report on ‘Global Monteluklast API Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.

As per the World Health Organization, globally, asthma is expected to have killed 455 000 people in 2019 and impacted 262 million people in the same year. The global montelukast API market is estimated to grow at a CAGR of ~10% over the forecast period. Asthma upkeep therapy is carried out with the use of the drug montelukast. The market's expansion can be attributed to the rising prevalence of asthma across all age groups in the world. The high prevalence of asthma patients worldwide is caused by factors namely genetic predisposition or smoking, as well as exposure to chemicals, gases, dust, or contaminated air. The growing smoking habit among asthma patients is estimated to increase the rate of asthma attacks. It was observed during the study that nearly 17% of people without asthma smoke but even though smoking is known to cause asthma attacks, about 21% of persons with asthma smoke. Additionally, the increasing incidences of other health conditions which impacts respiratory tracts mainly, urticaria, exercise-induced bronchospasm, allergic rhinitis, and primary dysmenorrhea are estimated to drive the market growth over the forecast period. It was noticed that exercise-induced bronchoconstriction affects up to 90% of those with asthma history and up to 10% of the general population.

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Further, the rising mergers and acquisitions among key market players, increasing technological advancements, and significant investment in research and development activities by the developed and developing regions across the globe are estimated to drive the market growth throughout the forecast period. For instance, global research and development spending has more than tripled in real terms since 2000, rising from USD 677 billion to USD 2.2 trillion in 2019. In addition to this, the rising geriatric population across the globe is predicted to drive market growth over the forecast period. Elderly people tend to perceive air flow blockage less strongly and the cough reflex is lessened. These elements are also predicted to be responsible for asthmas' delayed manifestation in this age group and result in a higher fatality rate. As per the researched data, between 4% to 13% of persons in the United States who are 65 years of age and older suffer from asthma. Asthma-related deaths are 5 times more likely to occur in this older demographic than in younger people.

The global montelukast API market is segmented by application into asthma, allergic rhinitis, bronchospasm, and others. Out of these, the asthma segment is estimated to hold the largest market share over the forecast period owing to the rising prevalence of asthma across the globe. For instance, nearly 10 million people in Europe under the age of 45 suffer from asthma. 8.2% of adults and 9.4% of children in the European Union (EU) have asthma, respectively. In addition to this, the increasing cost of combating asthma is predicted to drive the segment growth over the forecast period. Moreover, the growing geriatric population and rising research and development activities across the globe are estimated to boost the segment growth over the forecast period.

For more information in the analysis of this report, visit: https://www.researchnester.com/reports/montelukast-api-market/3995

Further, the global montelukast API market is segmented by end user into hospitals, specialty clinics, home care, and others. Out of these, the hospitals segment is estimated to hold the largest market share over the forecast period owing to the increasing asthma patient pool in the hospital and increasing awareness among the people regarding asthma and other chronic respiratory diseases and their serious consequences on the health. This in turn is estimated to increase individual spending on healthcare. According to an expenditure report, around 930 million or more individuals spend 10% of their family income on healthcare.  In addition to this, the provision of patient-friendly medical policies and advancements in healthcare sectors are estimated to boost the segment growth over the forecast period.

On the basis of geographical analysis, 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 these, the market in the Asia Pacific region is estimated to hold a substantial market share over the forecast period owing to the increasing geriatric population, along with the rising prevalence of asthma, as the elderly population is more prone to respiratory diseases. As per the researchers, by 2050, one in four people in the Asia Pacific region is predicted to be older than 60, and the prevalence of asthma in the elderly population is about 1.3 to 15.3% compared to 5 percent of adults in the region. Further, the increasing awareness about asthma among people and the growing healthcare sector in the region are estimated to propel the market growth.

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On the other hand, the market in the North America region is estimated to hold the largest market share over the forecast period owing to the increasing prevalence of asthma and other respiratory tract infections mainly allergic rhinitis and urticaria. It was observed during one of the studies, that in the United States, between 15 to 30% of patients are thought to have allergic rhinitis, while between 15 to 23% of people are thought to have gone through at least one episode of acute urticaria. In addition to this, the increasing adaption of sports activities and high-intensity exercises are predicted to increase the cases of exercise-induced bronchospasm in the region. Moreover, the presence of key market players, significant investments into research and development activities, growing healthcare facilities, and availability of patient-friendly medical policies in the region are estimated to drive the market growth during the forecast period.

For more insights on the market share of various regions: https://www.researchnester.com/sample-request-3995

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity 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).

Some of the prominent key players and their company profiling mentioned in the global montelukast API market research report include Astellas Pharma Inc., Adherium Limited, C. R. Bard, Inc., AstraZeneca Group, Cohero Health, Inc., GlaxoSmithKline plc, ConvaTec Group plc, Medline Industries, LP, Vectura Group plc, BioTelemetry, Inc., and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.

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