The global leukotriene modifiers market was anticipated to reach a valuation of USD 21.9 Billion in the year 2022. With a steady CAGR of 5.3% from 2023 to 2033, this market is expected to reach USD 23.06 Billion by 2023 and USD 38.65 Billion by 2033.
Throughout the projected period, there will be a considerable expansion in the market for leukotriene modifiers. The market for leukotriene modifiers is expanding as a result of rising asthma and chronic obstructive pulmonary disease patients globally as well as environmental changes.
These modifiers cause the muscles in the airways to contract and produce an excessive amount of fluid and mucus. Leukotriene modifiers market development is also influenced by improvements in treatment choices and the availability of well-established healthcare facilities.
According to Future Market Insights- an ESOMAR-certified market intelligence firm, the primary reason propelling the worldwide leukotriene modifiers market is the rise in the incidence of allergic illnesses. Around 35% of people have allergic disorders, which means that there would be 1 billion people worldwide in 2021.
The European Academy of Allergy and Clinical Immunology (EAACI) estimated that in 2021, allergies will be the most prevalent chronic condition in Europe. 16.2 million people and 6.1 million children were estimated to have allergic rhinitis in 2021. This accelerates market expansion.
For the advantage of the market, several medications have been introduced and authorized. Montelukast has received USA FDA approval for the chronic prevention and treatment of asthma in adults and children older than one year. This medication is intended to prevent exercise-induced bronchoconstriction. Similarly, additional medications including Zileuton, Zafirlukast, and Zileuton E.R. are also used to treat persistent asthma in adults and kids between the ages of 5 and 12 years old.
The bronchodilator zafirlukast inhibits cysteinyl leukotriene type 1 receptor and has anti-inflammatory properties. The drug's pharmacokinetics are best described by a two-compartment model, while its exact bioavailability is uncertain.
Contrarily, co-administration of zafirlukast with meals causes a 40% reduction in bioavailability. The medication helps to manage asthma symptoms so that patients may engage in typical activities. The market for leukotriene modifiers is anticipated to develop as a result of the benefits of these medications.
Leukotriene modifiers are increasingly being prescribed by retail pharmacies, and there are more of them in industrialized nations, which opens up new potential for market expansion. Also, because retail pharmacies are more convenient for customers to reach, patients prefer them for medicine purchases.
North America is expected to generate the most revenue throughout the projected timeframe due to the high incidence of different respiratory diseases among the area population, as well as a rising number of pharmaceutical firms employing strategic tactics to extend their product offering and maintain their worldwide market dominance.
The existence of some of the biggest and most powerful pharmaceutical businesses may stifle growth in Europe. For instance, the international pharmaceutical and biotechnology corporation GSK is based in the United Kingdom.
The company's yearly sales in 2021 were USD 47.1 billion, a rise of more than 6.9% from its turnover in 2020. Due to the rising need for long-term control, Asia-Pacific is also expected to dominate with a high CAGR. Hence, with such growing demand all across the globe, the global market for leukotriene modifiers is anticipated to attain a new height during the forecast period.
| Data Point | Key Statistics |
|---|---|
| Expected Market value in 2023 | USD 23.06 Billion |
| Expected Market value in 2033 | USD 38.65 Billion |
| Growth Rate (2023 to 2033) | 5.3% |
Leukotriene modifiers are the drugs used to treat allergies and asthma that block the action of leukotrienes, these are the inflammatory chemicals, produced when our body comes in contact with any of the allergens.
These chemicals, when secreted leads to excess mucus and fluid production and tightening of airway muscles. There are various medical conditions associated with leukotriene modifiers such as asthma, allergic rhinitis, bronchospasm prophylaxis, and chronic obstructive pulmonary disease.
These leukotriene modifiers are available in the form of tablets, chewable tablets and granules in the market. The global leukotriene modifiers market is growing rapidly with the increasing prevalence of allergic diseases. The outbreak of novel coronavirus has caused a disturbance in almost all the industries. The novel coronavirus has also affected the leukotriene modifiers market.
It has been observed that people with asthma and other allergies are more vulnerable to coronavirus disease. Since a huge number of population is suffering from these medical conditions across the globe, it has led to an increase in the demand to manage asthma and other allergic disorders which in turn is driving the growth of the leukotriene modifiers market.
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Increasing prevalence of various allergic diseases and asthma are the major forces driving the leukotriene modifiers market. In 2015, it was reported that cases of allergic patients across the world stood at 30% approximately.
It has also been observed that the prevalence in developed countries and western countries is higher as compared to developing countries. Changing lifestyle pattern is resulting in the increased exposure to various allergens which is expected to drive the leukotriene modifiers market.
Changing climatic conditions, carbon dioxide and increased level of pollution is leading to a rise in the prevalence of allergies, which in turn is expected to boost up the global leukotriene modifiers market.
Based on the product type, montelukast drug is expected to have a major share in the leukotriene modifiers market. It is used in the treatment of prophylaxis and chronic asthma in adults, and children above the age of one.
Ziafirlukast, zileuton and zileuton ER are used in the treatment of asthma in adults and children above five years. Based on the distribution channel, hospital pharmacies are the most profitable segment in the leukotriene modifiers market.
Over the last several decades, the management of asthma and other allergies has improved. Leukotriene modifiers are widely used in the treatment of allergic rhinitis. Allergic rhinitis is the most common type of allergic disease which affects 10% to 30% of the global population.
According to American Academy of Allergy, Asthma & Immunology, in 2012, it was reported that 17.6 million adults and 6.6 million suffered from allergic rhinitis. Hence, the demand for management of rhinitis allergy is expected to drive the growth of the leukotriene modifiers market.
North America and Europe are expected to dominate the global leukotriene modifiers market, owing to the higher adoption of drugs and advancement in drug discovery in the regions. In addition, high prevalence rates of asthma and allergic diseases are expected to increase the growth of the leukotriene modifiers market in these regions.
Increase in healthcare expenditure in the developing region like Asia-Pacific is expected to push the global leukotriene modifiers market growth over the forecast period.
Some of the market participants in the global leukotriene modifiers market identified across the value chain include:
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Leukotriene Modifiers Market
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