Montelukast Sodium Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Montelukast Sodium Market in 2021

The global Montelukast Sodium market is expected to have a growth rate of 4.2% CAGR from 2021 to 2026. The market size is anticipated to reach USD 4.5 billion by 2026.

COVID-19 Impact on the Montelukast Sodium Market

The COVID-19 pandemic has had a mixed impact on the Montelukast Sodium market. While there has been an increased focus on respiratory health, leading to a higher demand for related medications, disruptions in the supply chain and restrictions on movement have affected the production and distribution of Montelukast Sodium.

Montelukast Sodium Dynamics

Montelukast Sodium is a leukotriene receptor antagonist used to treat asthma and allergic rhinitis. The growing prevalence of respiratory diseases, awareness about the importance of managing asthma, and advancements in drug delivery systems are key factors driving the growth of the Montelukast Sodium market.

Segments and Related Analysis

By Type:

- Tablets
- Chewable Tablets
- Granules

By Application:

- Asthma
- Allergic Rhinitis

By Distribution Channel:

- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies

By Region Analysis

North America

- The North American market for Montelukast Sodium is expected to witness steady growth due to the high prevalence of asthma and allergic rhinitis in the region.

Europe

- In Europe, the market for Montelukast Sodium is driven by the increasing awareness about respiratory health and the presence of key players in the region.

Asia Pacific

- The Asia Pacific market shows significant potential for growth due to the rising incidence of asthma and allergic rhinitis, coupled with improving healthcare infrastructure.

Key Market Players and Competitive Landscape

Some of the key players in the Montelukast Sodium market include Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Aurobindo Pharma, and Apotex Inc. These companies are focusing on product innovation, strategic partnerships, and geographic expansion to gain a competitive edge in the market.

Recent Happenings in the Montelukast Sodium Market

- In July 2021, Merck & Co., Inc. announced the launch of a new formulation of Montelukast Sodium tablets for improved patient compliance and convenience.

- In October 2021, Teva Pharmaceutical Industries Ltd. signed a partnership agreement with a leading distribution company to expand its market reach for Montelukast Sodium.

- In January 2022, Aurobindo Pharma received regulatory approval for its generic version of Montelukast Sodium tablets, strengthening its market presence.