MOMETASONE FUROATE MARKET ANALYSIS

Mometasone, also referred to as mometasone furoate, is a corticosteroid used to treat asthma, hay fever, and several skin problems. Instead of managing asthma attacks, mometasone furoate  is used primarily to prevent them. By inhibiting infection-fighting white blood cells (WBCs) from reaching the affected area, it reduces inflammation, itching, and redness. Additionally, it inhibits the chemical messenger (histamine) that is accountable for body's allergic reactions. Symptoms of a variety of skin allergies as well as other allergic diseases like hay fever and allergic rhinitis are effectively treated by mometasone furoate.

Global Mometasone Furoate Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 596 million cases and 6.45 million deaths due to coronavirus (COVID-19) were reported till August 26, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Mometasone Furoate

The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

However, Coronavirus (COVID-19) pandemic is expected to positively impact growth of the global mometasone furoate market during the forecast period. For instance, according to an article published in International Immunopharmacology, a journal publishing articles in the areas of immunology, pharmacology, cytokine biology, etc., June 2021, a study was performed by University of Medical Sciences, Sari, Iran to check if mometasone furoate nasal spray is useful in the treatment of COVID-19 olfactory dysfunction patients.  The results showed that olfactory and taste dysfunctions brought on by the COVID-19 infection were significantly improved by using intranasal mometasone furoate spray without posing any risks.

Global mometasone furoate market is estimated to be valued at US$ 1,182.9 million in 2022, and is expected to exhibit a CAGR 7.4% over the forecast period (2022-2030).

Figure 1: Global Mometasone Furoate Market Share (%) Analysis, By Dosage Form, 2022

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Increasing research and development activities related to mometasone furoate are expected to drive growth of market over the forecast period.

Increasing research and development activities in formulation and development of mometasone furoate are expected to fuel growth of the global mometasone furoate market over the forecast period. For instance, according to a research article published in, Journal of Dermatological Treatment, March 2022, a study was conducted in India, the objective of the study was to develop an aspasomal mometasone furoate gel that is biologically active, delivers medication at a controlled rate, and requires minimal doses to treat psoriasis. Aspasomal gel with mometasone furoate was developed and it was found that, aspasomal gel with mometasone furoate   delivered the medication over a longer period of time and required fewer doses, expanding the scope of psoriasis treatment.

Increasing product launches and approvals by market players are expected to drive growth of the global mometasone furoate market over forecast period.

Market players are engaged in product approvals, which is expected to boost the global mometasone furoate market growth over the forecast period. For instance, in March 2022, Perrigo Company plc, headquartered in Ireland, manufacturer of private label over-the-counter pharmaceuticals, announced that the U.S. Food and Drug Administration (FDA) approved its Nasonex 24HR Allergy (mometasone furoate) nasal spray, to treat symptoms of hay fever or other upper respiratory allergies such as nasal congestion, runny nose, sneezing, and itchy nose.

Restraint- Global Mometasone Furoate Market

Side effects associated with the mometasone furoate are expected to hamper the growth of Global mometasone furoate over forecast period. The nasal spray form of mometasone may cause the following side effects:

• headache
• viral upper respiratory infections
• sore throat
• nose bleeds
• cough
• muscle and joint pain

Global Mometasone Furoate Market – Regional Analysis

On the basis of region, the global mometasone furoate market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to be the most lucrative region in the global mometasone furoate market, owing to increasing number of awareness campaigns by market players regarding psoriasis, as mometasone furoate is a drug used for the psoriasis treatment. For instance, on October 28 2020, Leo Pharma, a multinational pharmaceutical company, launched #everydaypsoriasis campaign, including a series of videos featuring patients that outline the everyday challenges of people living with psoriasis on World Psoriasis Day, October 28. The Leo Pharma campaign was held due to support of the annual International Federation of Psoriasis Associations (IFPA). Annual awareness day was dedicated to people living with psoriasis or psoriatic arthritis and was aimed at spreading information and raising the profile of these debilitating diseases.

Europe is expected to witness significant growth in the forecast period, owing to increasing approvals for mometasone furoate spray. For instance, in April 2019, The Ministry of Healthcare in Russia  granted Glenmark Pharmaceuticals Ltd., a research integrated global pharmaceutical company, permission to market Momate Rhino (Mometasone Furoate 50 mcg) metered nasal spray as an over-the-counter (OTC) medication for the treatment of seasonal and perennial allergic rhinitis in patients older than 18 years.

Figure 2: Global Mometasone Furoate Market Value (US$ Mn), by Region, 2022

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Global Mometasone Furoate Market – Competitive Landscape

Major players operating in the global mometasone furoate market include Cipla, Teva Pharmaceuticals, Glenmark Pharmaceuticals, AdvaCare Pharma, Medlab Pharmaceuticals Private Limited, Dermocare Laboratories, Iva Healthcare Private Limited, Unilab Chemicals & Pharmaceuticals Pvt Ltd, Organon group of companies, Cosette Pharmaceuticals, Taro Pharmaceutical Industries Ltd., and Hikma Pharmaceuticals.