Global Statistics Representing Ibuprofen Market Scenario
Ibuprofen is an API used for the manufacturing of a nonsteroidal anti-inflammatory medication for treating pain, fever, and inflammation. It is a derivative of propionic acid used for relieving pain, helping with fever, and reducing inflammation. Other advantages associated with Ibuprofen, include rapid results and targeted drug delivery, which is further driving the market growth. In minors, it is used for children aged 3 months–12 years for treating fever, sore throat, aches & pain, cold, and other indications. For instance, Johnson & Johnson’s CALPROFEN Ibuprofen suspension is a widely used suspension for treating the above-mentioned indications in children. Globally, the prevalence of cancer, cardiovascular diseases, back pain, and trauma are increasing at a concerning rate, which is subsequently increasing the demand for ibuprofen for pain management. In 2018, around 17 million people suffered from cancer and the number is expected to reach 27.5 million by 2040. To attend to the situation, the leading players are heavily investing in the R&D activities for developing innovative products, which is adding fuel to the market growth.
Global Ibuprofen market is expected to reach USD 687.77 million by 2023 at a CAGR of 2.1%.
Tablets Are the Most Widely Adopted Dosage Form
Non-steroidal anti-inflammatory drug (NSAID), such as ibuprofen, is used for relieving pain in arthritis, bone fractures, muscle pains, headache, dental pain, menstrual cramps, and acute pain caused by injury or surgery. It is also used to reduce fever and to relieve minor aches and pain caused by common cold or flu. Ibuprofen is one of the leading analgesic tablets for pain management. In the last few years, pain-related issues are increasing at a considerable rate, which is further boosting the market growth. For instance, in the U.K alone, around 10 million people suffer from chronic pain every day, the British Pain Society. Whereas, in the U.S., around 50 million adults are suffering from chronic pain. Some of the leading brands offering ibuprofen tablets include Dr. Reddy's Laboratories and Pfizer Inc., among others. Advil offered by Pfizer is found to be the highest selling ibuprofen brand across the globe.
Regionally, the global ibuprofen market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.
North America is leading the ibuprofen market and will continue the same during the forecast period. This can be attributed to the growing prevalence of migraine and other such disorders in the region due to due to stressful life, changing climate, increasing pollution, and biological heredities. Around 75% population in the region is suffering from migraines, which is further boosting the market growth. The population in the region is also suffering from severe headaches, which is not a life-threatening disorder, but accounts for years of life lived with disability (YLDs) and has no deaths registered. In 2017, over 24.07 million ibuprofen drugs were sold, which is up from 21.33 million times in 2016. Apart from this, the region has a strong presence of ibuprofen players that are arduously working to minimize the demand and supply for APIs, which is further boosting the market growth.
The Asia Pacific is dominating the global ibuprofen market. China is one of the leading contributors followed by India. In the first and second quarters of 2018, India ibuprofen formulations market experienced a significant fall, further resulting in a price hike by 20% in the Indian market.
In India, OL Chemicals and Pharmaceuticals is one of the leading ibuprofen API manufacturers that produce about 10,000 tons per annum (TPA) of ibuprofen, out of which, about 5,000-6,000 TPA is utilized in India and rest is exported to North America, Europe, and South America.
Some of the key players in the global Ibuprofen market include IOL Chemicals and Pharmaceuticals Limited, Granules India Limited, Solara Active Pharma Sciences Limited, BASF SE, SI Group, ZIBO XINHUA-PERRIGO PHARMACEUTICAL CO., LTD., Xinhua Pharm and Ralington Pharma.
Our Report Covers
Ibuprofen Market Segmentation
By Dosage Form
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