Montelukast Sodium Market Size (2024 - 2029)

Montelukast Sodium Market Analysis

The Montelukast Sodium Market size is estimated at USD 4.08 billion in 2024, and is expected to reach USD 7.38 billion by 2029, growing at a CAGR of 12.60% during the forecast period (2024-2029).

As montelukast sodium is the recommended treatment for the COVID-19 prognosis, the market for this medication has a beneficial effect on COVID-19. According to an article published in the Journal of Asthma in April 2022, patients with COVID-19 who were hospitalized and given montelukast experienced fewer instances of clinical deterioration, suggesting that this medication may have clinical activity.

Additionally, in April 2022, scientists at the Indian Institute of Science in Bengaluru conducted a study that revealed that Montelukast, a drug used for the treatment of asthma, has the potential to stop COVID variants from replicating within the body of the infected. The above studies indicate that montelukast sodium was one of the effective drugs for COVID-19 management. Thus, the studied market has been significantly impacted by the COVID-19 pandemic. However, currently, the market is growing steadily owing to the decline in COVID-19 cases and the resumption of drug manufacturing plants. Moreover, the latest research on new montelukast treatment approaches is expected to drive the market in the coming years.

The major factor attributing to the growth of the market is increasing prevalence of disease like asthma, allergic rhinitis, etc. and rise in geriatric population.

The increase in the prevalence of diseases such as asthma, exercise-induced bronchospasm, allergic rhinitis, primary dysmenorrhea, and urticaria. Asthma is a typical noncommunicable disease (NCD) that affects both children and adults. According to a WHO report from May 2021, in lower-middle-income nations, asthma-related deaths account for more than 80% of all fatalities.

Furthermore, in 2021, the Asthma and Allergy Foundation of America (AAFA) reported that each year, anaphylaxis (a severe allergic reaction) to food results in 90,000 emergency room visits, and more than 50 million people in the United States experience various types of allergies. Asthma and Allergy Foundation of America (AAFA) published in May 2021, data also reported that approximately 24 million people in the United States were diagnosed with seasonal allergic rhinitis (hay fever). Thus, a huge burden of asthma and allergy is expected to propel the demand for montelukast sodium over the forecast period.

Moreover, a rise in the geriatric population, which is more susceptible to asthma and allergic conditions, is expected to propel the growth of the market. According to the World Population Prospects 2022 report published by the United Nations Department of Economic and Social Affairs, 771 million people worldwide will be 65 or older in 2022. Furthermore, according to the same source, by 2030, there will be 994 million older people in the world, and by 2050, there will be 1.6 billion in the elderly population. Thus, an increasing global population is expected to raise demand for montelukast for the treatment of asthma and allergies, thereby boosting market growth over the forecast period.

However, side effects with the product, such as stomach pain, heartburn, upset stomach, nausea, and diarrhea, may restrain the market's growth.

Montelukast Sodium Industry Segmentation

As per the scope of the report, montelukast sodium is a leukotriene inhibitory agent that is used for many indications, including asthma, exercise-induced bronchospasm, allergic rhinitis, primary dysmenorrhea, and urticaria. It is used to prevent shortness of breath and breathing problems. The Montelukast Sodium Market is segmented by Dosage Form (Tablets, and Oral Solutions) Application, (Asthma, Allergic Rhinitis, Urticaria, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Rest of the World). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.