Montelukast API Market Overview

The global Montelukast API Market  is growing at the fastest pace, witnessing increasing demand and the expanding healthcare sector. Montelukast API is referred as pharmaceutical molecules that form the core components of drugs medicines, either singly or in combination. It is an orally available leukotriene receptor antagonist, which is widely used in the development and manufacturing of medicines used in the treatment of asthma, respiratory problems, hay fever, allergic rhinitis, and others.

As per Market Research Future (MRFR) analysis, the global montelukast API market is expected to reach USD 1,430,215.2 thousand with a CAGR of 3.38% .The report is an exclusive research report that provides a comprehensive overview of the market. The study explores and provides granulated insights into market drivers and opportunities. It includes detailed information on key players operating in the market, with a focus on market revenue estimates, growth rate, and forecasts for the coming years. The research report on the montelukast API industry offers a significant and in-depth study of market shares of players and dominant market segments for various regions around the globe.

Additional factors that are substantiating the market demand include growing healthcare expenditure, growing world population, and growing per capita income. Moreover, dramatically rising numbers of healthcare infrastructure, including hospitals and clinics, are expected to foster market growth. Conversely, the availability of substitutes and adverse effects associated with montelukast are the major factors anticipated to restrain the growth of the market.

Montelukast API Market Segmentation

• The global montelukast API market is segmented into application and region 
• Based on the application, the global market for montelukast API is segmented into asthma, allergic rhinitis, bronchospasm, urticaria, and others. The asthma segment is projected to lead the market and to reach USD 700,730.7 thousand with a significant CAGR by the end of 2023. The montelukast API is very much in demand worldwide for the treatment of asthma. However, the allergic rhinitis segment is estimated to have the highest CAGR of 3.11% between 2018 and 2023. The rising incidence of allergic rhinitis cases is pushing the growth of the segment.
• Regionally, the global montelukast API market is segmented into the Asia Pacific, Europe, Latin America, North America, and the Middle East Africa.
• North America held the largest market share of 39.25% in 2017, and the regional market is estimated to have a CAGR of 3.12% in the forecast period. 
• The fastest CAGR is expected to be registered in the Asia Pacific. The Chinese market is expected to have the highest growth rate of 5.10% over the forecast period from 2018 to 2023.
• By 2023, the European market is expected to surpass USD 396,258 thousand. The rise in the incidence of asthma, COPD, and allergies is fueling the growth of the montelukast API market in the area. The United Kingdom, followed by France, is the main contributor to the growth of the regional market.

Montelukast API Market Regional Analysis

North America dominates the global montelukast API market. The largest market share attributes to the rising prevalence of chronic diseases such as asthma, allergic rhinitis, bronchospasm, urticaria, and others.

Besides, factors such as the availability of advances in medical drug development technologies, rising numbers of Pharma companies drive the regional market growth.

The montelukast API market in Europe holds the second-largest share in the global montelukast API market. Proliferating healthcare industry and pharmaceutical sector in the region is boosting the growth of the market. Moreover, increasing incidences of asthma, COPD, and allergies are driving the growth of the regional market excellently. The UK is the major contributor to the growth of the regional market, followed by France. The European montelukast API market value is estimated to reach USD 396,258 MN by 2023.

Also, the presence of notable players that are increasing emphasis on delivering cost-competitive product range fosters the growth of the regional market. In 2017, North America had accounted for 39.25% of the montelukast API market share.  The North American montelukast API market is estimated to grow further at around 3.12% CAGR during the forecast period.

The Asia Pacific montelukast API market is growing rapidly, mainly due to the rising numbers of pharmaceutical and biotechnology companies. Moreover, factors such as the expanding economy and a large population driving the montelukast API market size in the region. The APAC montelukast API market is expected to register over 5.10% CAGR during the forecast period from 2018 to 2023.

Montelukast API Market Players

• Merck Sharp Dohme Corp (US),
• Reddy’s Laboratories Ltd (India),
• Mylan N.V. (US),
• Morepen Laboratories Ltd (India)
• Teva Pharmaceutical Industries Ltd (Israel),
• Glenmark (India),
• Vintage Pharmaceuticals Inc (US)
• Hikma Pharmaceuticals PLC (UK)
• Sandoz International GmbH (Germany)
• Hetero (India)
• Aurobindo Pharma (India)

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