Montelukast API Market size was over USD 907.4 million in 2023 and is anticipated to cross USD 3.28 billion by 2036, witnessing more than 10.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of montelukast API is assessed at USD 982.9 million. Montelukast is a medication used in the maintenance treatment of asthma. The growth of the market can be attributed to the increasing prevalence of asthma amongst all age groups across the globe. According to the data by the World Health Organization (WHO), 262 million people were diagnosed with asthma in 2019, which caused 461000 deaths globally. Factors, such as, exposure to polluted air, chemicals, fumes, or dust, along with genetic makeup or smoking, are mainly responsible for the high cases of asthma across the world. Moreover, the growing health awareness amongst people, along with adoption of advanced drugs and medication are anticipated to boost the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.4% |
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Base Year Market Size (2023) |
USD 907.4 million |
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Forecast Year Market Size (2036) |
USD 3.28 billion |
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Regional Scope |
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The market is segmented by application into asthma, allergic rhinitis, bronchospasm, and others, out of which, the asthma segment is anticipated to hold a substantial share in the global montelukast API market over the forecast period on account of increasing prevalence of asthma, along with the growing government initiatives to curb the cases of asthma.
Our in-depth analysis of the global montelukast API market includes the following segments:
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By Application |
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By End-User |
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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. Asia Pacific industry is poised to hold largest revenue share by 2036, impelled by high geriatric population, along with the rising cases of asthma, as older people are more vulnerable to respiratory diseases.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of the high prevalence of asthma in the developed countries. A report by the Asthma and Allergy Foundation of America (AAFA) stated that approximately 25 million Americans suffer from asthma, including 5.1 million children under the age of 18.
Author Credits: Radhika Pawar
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