Mometasone Furoate Market is Anticipated to Witness High Growth Owing to Growing Prevalence of Allergic Diseases

Mometasone Furoate Market Size

Mometasone furoate is a synthetic corticosteroid applied topically to treat conditions such as eczema, psoriasis and dermatitis. It works by reducing inflammation and itching of the skin. It comes as a cream or ointment applied to the skin. Mometasone furoate products are used to treat flare-ups and reduce symptoms of allergic skin conditions. Growing prevalence of allergic diseases such as asthma, allergic rhinitis and atopic dermatitis across the world has increased the demand for anti-allergic medications including mometasone furoate products.

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. These players are focusing on new product launches, partnerships and approvals to strengthen their presence in the global market.

There is high potential for growth in emerging Mometasone Furoate Market Size owing to increasing healthcare expenditure and large patient population base suffering from allergic diseases. Key market players are exploring opportunities in Asia Pacific and Latin America through collaborations with regional drug manufacturers and suppliers.

Global expansion strategy of leading market players through acquisitions and partnerships will help gain larger customer base outside US and European regions over the forecast period. For instance, Thermo Fisher Scientific acquired PPD to enhance their clinical research services across developed as well as emerging countries.

Market drivers:

Growing prevalence of respiratory diseases such as asthma has increased demand for topical corticosteroids including mometasone furoate based products globally.

Development of novel drug delivery formulations such as sprays and gels has enhanced efficacy and patient compliance for long term treatment of allergic diseases.

Market Restraints:

Availability of alternative medications such as corticosteroid creams and antihistamine supplements can impede market growth of mometasone furoate drugs.

Stringent regulations for drug approval delays market entry of new products in some regions.

Segment Analysis

The mometasone furoate market can be segmented into drug type, dosage type, and distribution channel. The drug type segment includes nasal spray, cream/ointment, inhaled, and others. Among these, the nasal spray segment dominates the market owing to the high prevalence of allergic and non-allergic rhinitis. Nasal sprays provide faster relief and are more convenient to use compared to other dosage forms.

By dosage type, the market is divided into generic and branded. The branded segment currently has a larger market share due to high awareness and prescriber's preference for well-established brands. However, the generics segment is expected to witness faster growth during the forecast period due to the increasing availability of affordable generic alternatives.

The distribution channel segment includes hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies hold the largest share as they are the most accessible point of purchase for patients. Meanwhile, online pharmacies are emerging as a promising distribution channel due to the convenience of home delivery offered by e-pharmacies.

Global Analysis

Regionally, North America dominates the global mometasone furoate market and is expected to maintain its lead throughout the forecast period. This can be attributed to the rising prevalence of respiratory disorders such as asthma and chronic obstructive pulmonary disease (COPD) in the region. Additionally, well-established healthcare infrastructure and high adoption of new drug therapies are supporting the regional market growth.

Europe holds the second position in terms of revenue. However, the Asia Pacific region is projected to witness the fastest growth during the forecast timeline owing to the improving healthcare facilities, increasing healthcare expenditures, and the rising geriatric population susceptible to respiratory diseases.

Within the Asia Pacific, China and India are identified as the most lucrative markets due to the large patient population and growing access to modern treatment options in these countries. Meanwhile, Latin America and the Middle East & Africa demonstrate moderate growth prospects for mometasone furoate market.

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