Ibuprofen Market to Grow at a CAGR of 5.67% in the Forecast Period
Increase in patients
suffering from rheumatoid arthritis and osteoarthritis is expected to drive the
growth of global ibuprofen market during the forecast period.
According
to TechSci Research report, “Global Ibuprofen
Market By Product Type (Tablet, Capsule, Syrup and Injection), By Route of
Administration (Oral v/s Intravenous), By Application (Rheumatoid Arthritis and
Osteoarthritis, Ankylosing Spondylitis, Inflammatory Diseases, Dysmenorrhea,
Others), By Age Group (Adult v/s Pediatric), By Source (Contract Manufacturing
Organizations (CMO), In-House), By End User (Hospitals, Clinics, Others), By
Distribution Channel (Offline v/s Online), By Region, By Company, Competition,
Forecast & Opportunities, 2026”,
Global Ibuprofen Market was valued USD4981.02 million in value terms in 2020
and is forecast to grow at a CAGR of 5.67% and reach USD6945.36 million by
2026. Rising awareness regarding rapid pain relief injections is one of the major factors accounting
for the growth of global ibuprofen market. Moreover, occurrence
of diverse range of diseases such as cardiovascular disease, diabetes,
infectious diseases, and kidney-related complications is expected to aid well
for the growth of global ibuprofen market through the forecast period.
In
addition to this, increased development of innovative drugs by major
pharmaceutical companies is expected to positively influence the growth of global
Ibuprofen market in the years to come. Along with this, easy product availability coupled with extensive supply and
distribution networks are expected to positively contribute to the market
growth in the next 5 years. However, there are certain factors that might act
as major impediments to the growth of global Ibuprofen market during the
forecast period such as various side effects of intravenous ibuprofen
injections.
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Global
ibuprofen market can be segmented based on product type, route of administration, application, age
group, source, end user, distribution channel, company, and region.
The product type segment is further classified into tablet, capsule, syrup, and
injection. The tablet segment is dominating the market due to its higher application
and low cost. The route of administration segment is further segregated into
oral and intravenous. The oral segment is dominating the market and is expected
to lead the global Ibuprofen market in the forecast period too. The oral
segment includes Ibuprofen product type that is consumed orally such as tablet,
capsule, and syrup, whereas route of administration of injection is
intravenous.
Considering
the application, the market is fragmented into rheumatoid arthritis and
osteoarthritis, ankylosing spondylitis, inflammatory diseases, dysmenorrhea,
and others. The rheumatoid
arthritis segment is anticipated to dominate the market during the forecast
period which is accredited to application of this
drug in treating rheumatoid arthritis or any other type of inflammatory
arthritis. Ibuprofen is as effective as Aspirin and other nonsteroidal
anti-inflammatory drugs when given at a dose of 1,200 mg/day to treat
rheumatoid arthritis. The safety and tolerability of Ibuprofen when compared to
Aspirin are superior, which is further estimated to drive the segmental growth
over the coming years.
The
market's growth will be fueled by factors such as increasing healthcare
spending, growing incidences of arthritis, rising cancer cases, widening
urbanization, and rising analgesic drug sales.
BASF
SE, IOL Chemicals & Pharmaceuticals Ltd., Mallinckrodt plc, Lupin
Pharmaceuticals, Inc., Cumberland Pharmaceuticals Inc., Shandong Xinhua
Pharmaceutical Company Limited, Hubei Biocause Phamaceutical Co., Ltd., Perrigo
Company PLC, Strides Pharma Science Limited, Amneal Pharmaceuticals, Inc.,
Pfizer Inc., Johnson & Johnson, Teligent, Inc., Solara Active Pharma
Sciences Ltd., Abbott Laboratories Ltd. among others are the leading
players operating in global ibuprofen market. The leading players are adopting
several growth strategies to enhance the market scenario of Ibuprofen. Other
competitive strategies include product launches; mergers & acquisitions;
agreements, partnerships, and research collaborations; and expansions to
diverse their product portfolio in order to strengthen their market position.
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North America is forecast to dominate the global ibuprofen market in the
next 5 years on account of changes in healthcare facilities, increasing demand
for ibuprofen due to the side effects of opioid analgesics such as respiratory
depression, allergic reactions, sedation, and gastrointestinal incidents,
increasing research and development activities to produce new drugs, and rising
prevalence of chronic diseases. Asia pacific region is forecast to register
highest growing CAGR over the years to come which can be attributed to an
increase in people in the elderly age group. Additionally, China is the largest supplier of Ibuprofen, contributing
about 33% of market share and India is the second largest supplier of Ibuprofen.
This is further expected to boost the market share.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Ibuprofen Market, By Product Type (Tablet,
Capsule, Syrup and Injection), By Route of Administration (Oral v/s
Intravenous), By Application (Rheumatoid Arthritis and Osteoarthritis,
Ankylosing Spondylitis, Inflammatory Diseases, Dysmenorrhea, Others), By Age
Group (Adult v/s Pediatric), By Source (Contract Manufacturing Organizations
(CMO), In-House), By End User (Hospitals, Clinics, Others), By Distribution
Channel (Offline v/s Online), By Region, By Company, Competition, Forecast
& Opportunities, 2026” has
evaluated the future growth potential of global ibuprofen market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global ibuprofen market.
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