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Mometasone Market Segmented By dosage form such as Nasal spray, Cream, Ointment, Lotion and Solution having indication Inflammatory skin disorders and Asthma
Mometasone is a type of corticosteroid used for the cure of certain skin disorders and in case of asthma. In the case of inflammatory skin disorders, mometasone diffuses into the cell membrane and activates pathways that will lead to a reduction of inflammation. Inflammatory skin disorders comprise of dermatitis, psoriasis and allergic rhinitis.
Mometasone inhibits mast cells, lymphocytes, basophils and eosinophils in case of asthma to prevent asthma attacks. According to the American Academy of Dermatology (AAD), 1 in 10 people suffer from dermatitis during their lifetime, whereas 7.5 million suffer from psoriasis in the U.S.
Covid-19 has led to lockdown in several countries delaying manufacturing activities of mometasone market. There has been observed supply chain disruption due to restrictions laid on trading across borders by various countries impacting mometasone market.
Reduced physician visits and treatment-seeking rates amid spread of coronavirus will slower mometasone market growth. Delay in research and development activities in the mometasone market is attributed to finding Covid-19 cure.
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Increased prevalence of inflammatory skin disorders is a major contributing factor in mometasone market growth. The rise in geriatric population is expected to drive mometasone market growth during the forecast period. Increasing personal aesthetics concern will boost mometasone market in the coming decade.
Growing patient population suffering from asthma increases the demand for mometasone market. Increasing collaborative research and development activities among leading biopharmaceutical players are expected to fuel mometasone market growth.
For instance, in February 2020, Hikma Pharmaceuticals and Glenmark Pharmaceuticals announced a collaboration to commercialize Olopatadine hydrochloride and mometasone furoate nasal spray used in the treatment of seasonal allergic rhinitis.
Side effects associated with mometasone is expected to hinder mometasone market growth. Pricing competition among market players’ challenges mometasone market growth.
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The cream form is expected to hold a major share of mometasone market during the forecast period. Whereas, nasal spray type will observe significant growth with an increasing number of asthma cases in the mometasone market. Over the counter medication generates the highest revenue for mometasone market. The topical route of administration is common in case of skin inflammatory disorders in mometasone market.
Based on indication, inflammatory skin disorders contributes higher to mometasone market. Retail pharmacies is the largest distribution channel in the mometasone market followed by hospital pharmacies. Online pharmacies will observe a significant rise in demand with an increased rate of adoption in the mometasone market during the forecast period.
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North America will continue to dominate the mometasone market in the coming decade with a high rate of approvals and commercialization of biopharmaceutical drugs. Increased awareness and availability of advanced technology propels the demand for mometasone market in North America. Europe holds a significant share in the mometasone market with increasing geriatric population in the region.
Asia-pacific is lucrative with a high growth rate in the mometasone market during the forecast period with an increased inflammatory skin disorders patient population in the region. Asia-Pacific region is lucrative for mometasone market growth with an increasing number of domestic manufacturers.
The Middle East and Africa are expected to observe the least growth in mometasone market due to less healthcare expenditure in the region. Poor economic conditions in the Middle East and Africa make them untapped regions with fewer growth opportunities of mometasone market.
Major players in mometasone market include Glenmark Pharmaceuticals, Hikma Pharmaceuticals, Aurisco Pharma, Perrigo Company plc, Bayer AG, Hubei Hengan Fulin Pharmaceutical Co., Ltd., Unilab Chemicals & Pharmaceuticals Pvt. Ltd., Shanghai Pharmaceuticals Holding Co., Ltd., Zhejiang Xianju Pharmaceutical Co., Ltd., Symbiotec Pharma and others.
The research report on mometasone market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report on mometasone market provides analysis and information according to market segments such as dosage form, prescription type, indication, route of administration, distribution channel and region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
