The montelukast sodium market studied was projected to grow with a CAGR of nearly 12.6% over the forecast period. The major factor attributing to the growth of the market is the increase in the prevalence of diseases such asthma, exercise induced bronchospasm, allergic rhinitis, primary dysmenorrhea and urticaria.
According to the World Health Organization, around 235 million people are living with asthma. Over 80% of asthma-related deaths occur in low-and lower-middle income countries. As the number of patients increases the demand for montelukast sodium also rises. However, side effects with the product such as stomach pain, heartburn, upset stomach, nausea, and diarrhea constraints the market growth.
Enquire before purchasing this report >> https://www.sdki.us/sample-request-84953
Key Market Trends
Asthma Segment is Found Dominating the Montelukast Sodium Market
Montelukast sodium is used to prevent wheezing, difficulty breathing, chest tightness, and coughing caused by asthma in adults and children 12 months of age and older. With the growing prevalence of asthma globally, the usage of montelukast sodium also increases. According to the Centers for Disease Control and Prevention (CDC), 1 in 13 people have asthma. More than 25 million Americans have asthma, that is 7.7 percent of adults and 8.4 percent of children, in 2017. There are about 6.2 million children under the age of 18 with asthma. Asthma accounts for 9.8 million doctor’s office visits, 188,968 discharges from hospital inpatient care and 1.8 million emergency department visits each year. Hence with the rising incidence and prevalence of asthma it is expected to increase the demand of montelukast sodium resulting into the high growth of the market.
North America Found Dominating the Montelukast Sodium Market
North America is expected to dominate the overall market, due to the factors such as the presence of key players, high prevalence of asthma and other respiratory diseases, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and increase in number of research partnerships are some of the drivers expected to increase the market growth.
In this region the United States has the maximum share due to supportive healthcare policies, high number of patients, and a developed healthcare market. According to Centres for Disease Control, in 2017, around 8.1 percent of the population of the United States currently had asthma. As per the statistics the the increasing patient pool and increasing disposable revenue in this country boosts the market growth of the region.
Montelukast Sodium Market Size Overview, Dynamics, Segments, and Scope Forecast 2022-2031
Nitrile Medical Gloves Market Size – Top Companies, Business Growth & Investment Opportunities, Share and Forecast 2022-2031
High Flow Ventilators Market Size Trends, Share,Growth, Supply and Manufacturers Analysis Research Report Forecast 2022-2031
Electromyography Devices Market Size Future Scope, Opportunities with Strategic Growth and Top Players Forecast 2022-2031
Medical Vending Machines Market Size: In-Depth Industry Analysis on Cost Structure and Prominent Key Players Analysis Forecast 2022-2031
Pigmented Lesion Treatment Market Size Overall Study Report with Top Key Players , and Application Forecast 2022-2031
Mucosal Atomization Devices Market Size to Boost Business Scope with Key Players and market trend Forecast 2022-2031
Manual Resuscitator Market Size with New Growth Prospect By Top Key Players and Forecast 2022-2031