by The mometasone furoate market consists of prescription drugs designed to treat conditions like asthma and allergies. As an inhaled corticosteroid, mometasone furoate works by reducing inflammation in the lungs and calming the airways. It provides fast symptom relief and is available in formulations like nasal sprays, inhalers, and creams.
The Global Mometasone Furoate Market is estimated to be valued at US$ 1467.01 Bn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the mometasone furoate market are Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Lonza Group, Miltenyi Biotec, Takara Bio Group, CellGenix GmbH, FUJIFILM Irvine Scientific, Agilent Technologies, Bio-Techne Corporation, Bio-Rad Laboratories, BD, Charles River Laboratories, Creative Bioarray, Sartorius AG, Novogene Corporation, AGC Biologics, Catalent, WuXi AppTec, ReachBio LLC.
The growing prevalence of asthma and allergies globally has increased the demand for effective treatments like Mometasone Furoate Market Size. According to recent studies, over 300 million people suffer from asthma worldwide with rising environmental pollution exacerbating respiratory issues. Mometasone furoate addresses the underlying inflammation assisting millions in managing their symptoms.
The major pharmaceutical companies operating in the market have expanded their manufacturing and R&D facilities globally. For instance, Merck KGaA inaugurated a new production facility in Switzerland in 2021 to meet the burgeoning demand for inhaled corticosteroids like mometasone furoate across Europe and other regions. The manufacturing expansion allows companies to ensure product availability and better serve global markets.
Market Key Trends
The development of improved drug delivery technologies for mometasone furoate will be a major trend in the coming years. Companies are investing in novel dry powder and pressurized metered dose inhalers that make usage more convenient. For instance, novel DPI formulations enhance lung deposition of the drug and reduce oropharyngeal deposition for more effective treatment. These advances will allow patients an easy and effective way to self-administer their medication, driving market revenue.
Porter’s Analysis
Threat of new entrants: The pharmaceutical industry requires huge capital investments. Established players have strong brand recognition which creates barriers.
Bargaining power of buyers: Due to availability of generic drugs and substitutes, buyers can negotiate on prices. However, branded drugs have strong customer loyalty.
Bargaining power of suppliers: Key raw material suppliers possess bargaining power due to their technical expertise and established relationships with pharmaceutical companies.
Threat of new substitutes: New drugs can replace existing drugs. Biosimilars pose competition. However, brand recognition gives advantage to established brands.
Competitive rivalry: The market is dominated by few global leaders. Players differentiate through strong R&D and new drug delivery mechanisms to gain market share.
Geographical Regions
North America accounts for the largest share currently due to availability of advanced healthcare facilities and high healthcare spending. The U.S. dominates the regional market due to presence of major players.
Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing healthcare expenditure, large patient pool, and growing medical tourism in countries like India and China. Rising per capita incomes contribute to market growth in the region.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
