The Global [FURL=https://www.marketresearchfuture.com/reports/montelukast-api-market-7886]Montelukast API Market[/FURL] is estimated to be valued at USD 1,430,215.2 thousand by 2023 and is expected to register a CAGR of 3.38% during the forecast period.

The asthma segment is expected to lead the market and register a substantial CAGR to reach USD 700,730.7 thousand by the end of 2023 owing to the rising prevalence of asthma. Montelukast API is much in demand across the globe for the treatment of asthma. However, the allergic rhinitis segment is projected to exhibit the highest CAGR of 3.11% from 2018 to 2023. The rising rate of allergic rhinitis cases is driving the growth of the segment.

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North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% during the forecast period from 2018 to 2023.

Montelukast API Market Segment Analysis

The global montelukast API market has been segmented on the basis of applications, and region. On the basis of the applications, the market has been divided into asthma, allergic rhinitis, bronchospasm, urticarial and others. The asthma segment held the majority market share in 2017. Allergic rhinitis segment is expected to be the fastest-growing, followed by the asthma segment. Rising prevalence of allergic rhinitis is driving the growth of the segment.

Montelukast API Market Players

Market Research Future (MRFR) recognizes Merck Sharp & Dohme Corp (US), Dr. Reddy’s Laboratories Ltd (India), Morepen Laboratories Ltd (India), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd (Israel), Hikma Pharmaceuticals PLC (UK), Glenmark (India), Sandoz International GmbH (Germany), Vintage Pharmaceuticals Inc (US), Hetero (India) and Aurobindo Pharma (India) as the key players in the global montelukast API market.

Montelukast API Market Regional Analysis

North America accounted for the largest market share of 39.25% in 2017, and the regional market is projected to register a CAGR of 3.12% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.10% during the forecast period from 2018 to 2023.

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