Montelukast Drug Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global montelukast drug market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The montelukast drug is a leukotriene inhibitor that is used to prevent asthma attacks in adults and children at least 2 years old. The rise in the incidence of asthma is anticipated to accelerate the growth of the global montelukast drug market during the forecast period. According to data published by National Center for Biotechnology Information (NCBI) in 2019, Asthma is one of the major non-communicable diseases that have a substantial impact on quality of life. Globally, asthma is ranked 16th among the leading causes of years lived with disability 28th among leading causes of burden of disease. Further, as per the same source, approximately 300 million people suffer from asthma globally, and further, 100 million people are anticipated to acquire asthma by 2025.

According to data published by the Asthma and Allergy Foundation of America (AAFA) in 2021, approximately 25 million Americans have asthma (1 in 13 Americans) out of which 20 million belong to adults' age 18 years and above and 5.1 million children under the age 18 years. Moreover, in 2019, 44.3% of children age 18 years and younger who had asthma reported having one or more asthma attacks in the past year.

Looking towards the demand for montelukast drug key market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in December 2021, Amgen and Astrazeneca had receive US FDA approval for Tezspire, for the treatment of asthma in adults and pediatric patients aged 12 years and older. In addition, in August 2021, Lupin has launched Luforbec, indicated for the treatment of adult asthma and symptomatic treatment of chronic obstructive pulmonary disease (COPD).

Further, in July 2020, Novartis announced that the European Commission (EC) has approved Enerzair Breezhaler for the treatment of uncontrolled asthma in adults. Moreover, the capsule is embedded with a sensor that can be linked with the propeller health smartphone app, providing patients with inhalation confirmations, medication reminders, and access to objective data that can be shared with the physicians to assist them in taking effective therapeutics decisions.

Moreover, in September 2020, GlaxoSmithKline Plc and Innoviva Inc., has announced that the US FDA has approved a new indication for Trelegy Ellipta, for the treatment of asthma in patients aged 18 years and older adding to its current license for use in patients with chronic obstructive pulmonary disease (COPD). Thus, such strategic collaborations, approvals, and product launches coupled with technological innovations are anticipated to drive the growth of the global montelukast drug market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Merck & Co, Dr. Reddys Laboratories Ltd, and Teva Pharmaceutical Industries Ltd, among others.

A full report Montelukast Drug Market of is available at:  https://orionmarketreports.com/montelukast-drug-market/92673/

Global Montelukast Drug Market Report by Segment
By Type
•Tablets
•Oral Granules
By Application
•Hospital
•Drug Store
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.