Key Companies Covered in the “Global Montelukast Intermediate Market” Research Report by Kenneth Research are ORTIN LABORATORIES LIMITED, Lonza Group Ltd., Merck & Co., Inc., Rahway, NJ, USA, Cipla Inc., Spark Therapeutics, Inc., uniQure N.V., Oxford Biomedica, MASSACHUSETTS BIOTECHNOLOGY COUNCIL, FinVector Oy, MANUS AKTTEVA BIOPHARMA LLP, and other key market players.
New York, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Montelukast Intermediate Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:
Market growth over the forecast period
Profiling of key market players
Global Montelukast Intermediate Market Size:
The global montelukast intermediate market is estimated to grow at a CAGR of ~ 4% over the forecast period, i.e., 2022 – 2031. The growth of the market can be ascribed to the worldwide increase in respiratory problems such as asthma. According to the World Health Organization (WHO), asthma affected approximately 262 million people in 2019, and 455,000 people died because of it. Moreover, there have been deteriorating effects on the health of people considering the increase in air pollution. WHO data shows that almost all of the global population, breathe air that exceeds WHO guideline limits and contains high levels of pollutants, with low- and middle-income countries suffering from the highest exposures. Additionally, around 2.4 billion people are exposed to dangerous levels of household air pollution, while using polluting open fires or simple stoves for cooking fueled by kerosene, coal, and biomass, such as wood, animal dung and crop waste. Hence, this is anticipated to be a prime factor to propel the market growth.
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Global Montelukast Intermediate Market: Key Takeaways
The Asia Pacific region gains the largest portion of the revenue
The asthma application segment to dominate the revenue graph
Biotechnology & pharmaceutical companies end-user segment remains prominent in the end users segment
Increasing Geriatric Population across the Globe to Propel Market Growth
Montelukast is used in drugs for the treatment of asthma, allergic rhinitis, and others, owing to which there has been a surge in the growth of the global montelukast intermediate market. Aged people are more prone to respiratory problems such as asthma. Geriatric population has been increasing notably throughout the years. It was noted that the number and proportion of geriatric population, meaning the people aged 60 years and older in the population was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050. Hence, this is estimated to be a major factor to propel the growth of the global montelukast intermediate market.
In addition to this, pharmaceutical companies have increased their demand for montelukast for the production of drugs, which is also anticipated to contribute to market growth in the coming years. Additionally, the rising investments in the R&D activities to continuously bring up more feasible solutions for medical procedures are predicted to propel the global montelukast intermediate market during the forecast period. According to research reports, global research and development spending has more than tripled in real terms since 2000, rising from approximately USD 680 billion to over USD 2.5 trillion in 2019.
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Global Montelukast Intermediate Market: Regional Overview
The global montelukast intermediate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Air Pollution to Drive Market Growth in the Asia Pacific Region
The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of an increase in respiratory illnesses, primarily caused due to the surge in air pollution, and the rise in the number of aged people. Around one third, or 2.2 million of the world’s 7 million premature deaths each year from household and ambient air pollution are in the WHO Western Pacific Region. Furthermore, being exposed to a toxic environment can result in serious health risks such as respiratory problems, asthma, and others. Furthermore, approximately 30 % of the total population in Japan is over 60 years. The aged population is more prone to respiratory problems and hence is expected to increase the growth of the montelukast intermediate market in the region.
Rapid Development in Healthcare Infrastructure to Favor Market Growth in the North America Region
The montelukast intermediate market in North America region is estimated to witness a substantial growth over the forecast period. The growth of the market can be ascribed to the prevalence of respiratory diseases, and better reimbursement policies of insurance companies in the region. Furthermore, increasing healthcare expenditure over the region, and developed healthcare infrastructure are also anticipated to be significant factors to propel the growth of the market in the region. As per the World Bank, healthcare expenditure, considering the total percentage of the GDP in the region, increased from 16.23% in 2018 to 16.32% in 2019.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
North America (U.S., Canada)
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Montelukast Intermediate Market, Segmentation by Application
The asthma segment is anticipated to hold the largest share in the global montelukast intermediate market over the forecast period owing to the increase in asthma cases. For instance, it was noted in a report by the National Library of Medicine that approximately 300 million people worldwide currently have asthma, and its prevalence increases by 50% every decade. Furthermore, asthma is one of the common prevalent chronic diseases in children, and proper medication can control the symptoms of asthma and allow them to lead a normal life. Moreover, there has been increase in pollution that is contributing to the growth of the asthma segment.
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Global Montelukast Intermediate Market, Segmentation by End Users
The biotechnology & pharmaceutical companies segment is estimated to hold a substantial market share in the market during the forecast period. The growth of this segment can be accredited to the increasing demand of pharmaceutical companies for montelukast for the production of drugs. Furthermore, rising healthcare spending per capita worldwide is resulting into increasing usage of drugs and hence, it is also estimated to propel the growth of this segment. According to the data by the World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global montelukast intermediate market is also classified based on type
Global Montelukast Intermediate Market, Segmentation by Type
Few of the well-known market leaders in the global montelukast intermediate market that are profiled by Kenneth Research are ORTIN LABORATORIES LIMITED, Lonza Group Ltd., Merck & Co., Inc., Rahway, NJ, USA, Cipla Inc., Spark Therapeutics, Inc., uniQure N.V., Oxford Biomedica, MASSACHUSETTS BIOTECHNOLOGY COUNCIL, FinVector Oy, MANUS AKTTEVA BIOPHARMA LLP, and others.
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Recent Developments in the Global Montelukast Intermediate Market
In March 2022, the International Pharmaceutical Aerosol Consortium on Regulation & Science has welcomed Lonza Group Ltd. as a member. The business has teamed up with other titans of the sector to enhance inhalation technology.
In June 2020, Themis, a firm that focuses on immunomodulation therapy and vaccines for infectious diseases, has been fully acquired by Merck & Co., Inc., Rahway, NJ, USA.
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