Montelukast Sodium Global Market 2024 To Reach $5.59 Billion By 2028 At Rate Of 9.7%

LANDON, GREATER LANDON, UK, July 23, 2024 /EINPresswire.com/ -- The montelukast sodium market has experienced robust growth in recent years, expanding from $3.52 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increasing respiratory disorders, an aging population, rising air pollution levels, growing awareness and education, and expansion in emerging markets.

Strong Future Growth Anticipated

The montelukast sodium market is projected to continue its strong growth, reaching $5.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to approval and launch, clinical studies, patent expiry, regulatory changes, and physician prescribing patterns.

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Growth Driver Of The Montelukast Sodium Market

The increasing prevalence of asthma is expected to propel the growth of montelukast sodium market going forward. Asthma is a chronic respiratory disorder marked by inflammation and constriction of the airways, resulting in repeated bouts of wheezing, breathlessness, chest tightness, and coughing. The prevalence of asthma is increasing due to environmental pollution, allergen exposure, genetic predisposition, urbanization, changes in lifestyle, and respiratory infections. Montelukast sodium is used in asthma as a leukotriene receptor antagonist, helping to prevent and manage asthma symptoms by blocking the action of leukotrienes, which contribute to airway inflammation and constriction.

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Major Players And Market Trends

Key players in the montelukast sodium market include Pfizer Inc., Merck & Co. Inc., Sanofi Aventis SA, Teva Pharmaceuticals USA Inc., Hetero Labs Ltd., Sun Pharma Industries Ltd., Aurobindo Pharma Limited, Cipla Inc.

Major companies operating in the montelukast sodium market are developing new drugs such as fexofenadine hydrochloride and getting them approved to expand their product portfolios and address the evolving needs of patients with allergic conditions. Fexofinadine hydrochloride is a second-generation antihistamine medication approved by the FDA for treating allergy symptoms and hay fever in adults and children.

Segments:

1) By Product: Crystal-like, Form-less Or Amorphous
2) By Dosage Form: Tablets, Oral Solutions
3) By Application: Bronchospasm, Allergic Coryza, Asthma, Urticaria, Other Applications

Geographical Insights: North America Leading The Market

North America was the largest region in the montelukast sodium market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the montelukast sodium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Montelukast Sodium Market Definition

Montelukast sodium is a leukotriene receptor antagonist, meaning it works by blocking the action of leukotrienes that cause asthma symptoms and allergic reactions. It is used to manage and prevent symptoms of asthma and to relieve seasonal and perennial allergic rhinitis. Montelukast is typically administered orally in tablet form.

Montelukast Sodium Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Montelukast Sodium Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on montelukast sodium market size, montelukast sodium market drivers and trends, montelukast sodium market major players, montelukast sodium competitors' revenues, montelukast sodium market positioning, and montelukast sodium market growth across geographies. The montelukast sodium market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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