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Montelukast Sodium Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Montelukast Sodium Market
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According to The Business Research Company's, The montelukast sodium market size has grown strongly in recent years. It will grow 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.
The montelukast sodium market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include increased generic competition, a shift towards combination therapies, expansion in emerging markets, a focus on pediatric use, and digital health solutions.
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Market Drivers and Trends:
The rise in the adoption of automation in manufacturing is expected to propel the growth of the motion control drive market going forward. Automation is using technology, machines, or systems to perform tasks with minimal human intervention. It involves the application of technology to monitor and control processes, reducing the need for constant human control and enhancing efficiency, precision, and consistency. The rise in the adoption of automation in manufacturing is due to the increasing need for efficiency, productivity, and quality control, the growing demand for customized products, and the need to address labor shortages and supply chain disruptions. Motion control drives are essential components in the automation of manufacturing processes that enhance precision, efficiency, flexibility, and safety, contributing to improved productivity, lower costs, and higher quality in manufacturing operations. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022, totaling 41,624 units. Therefore, the rise in the adoption of automation in manufacturing drives the motion control market.
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. For instance, in December 2021, Morepen Laboratories received approval from the US Food and Drug Administration (USFDA) to market its generic anti-allergy drug, Fexofinadine Hydrochloride, in the American market. Fexofinadine hydrochloride, a widely used second-generation antihistamine, is employed to treat allergy symptoms and hay fever. This approval signifies a significant milestone for Morepen Laboratories, strengthening its position in the anti-allergy market.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Pfizer Inc., Merck & Co. Inc., Sanofi Aventis SA, Teva Pharmaceuticals USA Inc., Hetero Labs Ltd., Sun Pharma Industries Ltd., Aurobindo Pharma Limited, Cipla Inc., Intas Pharmaceuticals Ltd., Seqens Group, Sanyo Chemical Industries Ltd., Morepen Laboratories, Neuland Laboratories Ltd., Medopharm Private Ltd., BEC Chemicals Pvt. Ltd, Delmar Chemicals Inc., Kimia Biosciences Ltd., Ortin Laboratories Ltd., MSN Laboratories Pvt Ltd., Vamsi Labs Ltd., LGM Pharma LLC, HRV Global Life Sciences, Sigmak Lifesciences, Akums Lifesciences Ltd., Anwita Drugs & Chemicals Pvt Ltd
Montelukast Sodium Market 2024 Key Insights:
• The montelukast sodium market size is expected to see strong growth in the next few years. It will grow to $5.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Rising Prevalence Of Asthma Fuels Growth In The Montelukast Sodium Market
• Introduction Of New Anti-Allergy Treatment Transforming The Montelukast Sodium Market
• North America was the largest region in the montelukast sodium market in 2023
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Description
This report studies Montelukast Sodium in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.
This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering
Morepen…
