Mometasone Furoate Market Poised for High Growth Due to Rising Prevalence of Respiratory Diseases

 

Mometasone Furoate Market

Mometasone furoate is a corticosteroid used for the treatment and prevention of asthma, allergic rhinitis, nasal polyps, skin diseases and other inflammatory conditions. It is typically administered as an inhaled medication for asthma and as a topical cream or ointment for skin conditions like dermatitis and eczema. Mometasone furoate works by reducing inflammation and helps ease symptoms like wheezing, breathlessness, and itching caused by various inflammatory reactions in the body. The growing prevalence of asthma and other allergic diseases globally has significantly boosted the demand for mometasone furoate based drugs and 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, and ReachBio LLC. These leading players are focusing on new product launches, collaborations and geographic expansions to gain a competitive edge in the market.

The key opportunities in the Mometasone Furoate Market Size include the growing demand for generic and affordable medications, increasing adoption of preventive treatment methods, and rising investments in research & development of novel delivery systems.

Global expansion of key players through acquisitions and partnerships has accelerated the availability of mometasone furoate drugs worldwide. Entry of several domestic players in developing countries has made mometasone furoate more affordable and accessible across various global markets.

Market Drivers:
The increasing prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and seasonal allergies is a major driver for the mometasone furoate market. According to WHO, asthma currently affects approximately 262 million people globally. Growing environmental pollution and sedentary lifestyle has further boosted the cases of respiratory illnesses worldwide.

Market Restrains:
Side effects associated with long-term usage of corticosteroids like mometasone furoate include risks of oral candidiasis, headache and nausea. The possibility of drug resistance and dependency with extended usage also restricts the growth of mometasone furoate market. Availability of alternative treatment options further challenges market growth to some extent.

Segment Analysis
The Mometasone Furoate market is dominanted by the Creams sub-segment. Creams account for over 35% of the total market share as they are easy to apply and have better penetration ability compared to other forms. Mometasone furoate creams are widely used for the topical treatment of skin conditions like eczema, psoriasis and dermatitis.

The Ointments sub-segment is the second largest with a share of around 25%. Mometasone furoate ointments are effective for treating inflammatory skin diseases due to their occlusive properties which help prevent water loss from the skin. They form an impermeable layer and allow the active ingredient to stay at the site of application for longer duration.

Global Analysis
The North America region currently holds the largest share of over 40% in the global Mometasone Furoate market due to high prevalence of allergic diseases and rising cases of chronic skin disorders. Additionally, strong presence of leading manufacturers and availability of advanced healthcare systems have made North America the most dominant regional market.

The Asia Pacific region is projected to grow at the fastest rate during the forecast period owing to rising medical tourism, growing awareness about mometasone therapies and increasing healthcare spending in developing countries like India and China. Rapid urbanization, large patient pool and improving economic conditions are some other factors boosting the APAC market growth.

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