April 18, 2024
Mometasone Furoate Market

The Mometasone Furoate Market Is In Trends Of Growing Demand For Respiratory Therapies

The mometasone furoate market is used for treating various respiratory diseases like asthma, chronic obstructive pulmonary disease and nasal polyps. Mometasone furoate acts as an anti-inflammatory corticosteroid that helps in reducing inflammation in the respiratory tract and provide relief from symptoms. It comes in various formulations like nasal sprays, inhalers and creams which makes its administration easy.

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 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. Key players are investing in research and development activities to develop newer drugs and formulations which drives the market growth.

The growing demand of respiratory drugs due to rising cases of chronic respiratory diseases is augmenting the mometasone furoate market. According to WHO, approximately 235 million people suffer from asthma globally and COPD is estimated to be the third leading cause of death by 2020. Increasing research on targeted drug therapies for respiratory diseases is also propelling market growth.

The Global Mometasone Furoate Market Size is expanding due to growing patient population across emerging nations of Asia Pacific, Latin America and Middle East countries. Rising healthcare investments by governments and increasing per capita healthcare expenditure is boosting pharmaceutical industry growth in developing economies.

Market key trends
The key trend in the mometasone furoate market is the development of novel drug delivery systems which enhances drug efficacy and ensures patient compliance. Research is ongoing on formulation of nasally administered mometasone furoate with powder technology that disperses fine powder for improved delivery to sinus cavities. Combination therapies of mometasone furoate with other drugs is also being explored for better management of inflammatory respiratory conditions.

Porter’s Analysis
Threat of new entrants: The mometasone furoate market involves high capital investment and strict regulations which poses a barrier for new companies.

Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over smaller suppliers in the global mometasone furoate market.

Bargaining power of suppliers: Few suppliers dominate the global mometasone furoate market and charge premium prices from buyers.

Threat of new substitutes: Existing substitutes like fluticasone propionate for asthma and eczema treatment pose a moderate threat in the mometasone furoate market.

Competitive rivalry: The global mometasone furoate market consists of large pharmaceutical giants competing on parameters like pricing, innovation and brand recognition.

Geographical Regions
North America accounts for the largest share in the global mometasone furoate market owing to high healthcare spending and presence of major pharmaceutical companies in the US and Canada.

Asia Pacific region is expected to witness the fastest growth during the forecast period. Growing medical tourism sector coupled with rising healthcare expenditure in China and India is driving the demand for mometasone furoate drugs in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it