Ibuprofen Market

Market Overview

The global ibuprofen market size was valued at USD 1.43 billion in 2023. It is estimated to reach USD 1.76 billion by 2032, growing at a CAGR of 2.44% during the forecast period (2024–2032). The global ibuprofen market is expected to grow during the forecast period due to several factors, including rising urbanization, rising public awareness of chronic diseases like rheumatoid arthritis, osteoarthritis, headaches, cardiovascular disease, and rising healthcare spending. Moreover, growing consumer awareness about over-the-counter (OTC) medications and the trend toward self-medication for minor ailments drive the demand for ibuprofen.

Highlights

1. Tablet dominates the dosage forms segment
2. USP dominates the type segment
3. Rheumatoid arthritis and osteoarthritis dominate the application segment
4. Pharmaceutical and Biopharmaceutical dominate the end-user segment
5. Asia-Pacific is the highest shareholder in the global market

Market Overview

Ibuprofen, a widely used medication in the nonsteroidal anti-inflammatory drug (NSAID) class, effectively treats various conditions encompassing pain, fever, and inflammation. Its versatility extends to the management of rheumatoid arthritis, migraines, menstrual cramps, and even the treatment of a patent ductus arteriosus in premature babies. The medication typically takes effect within an hour of administration, offering prompt relief to individuals suffering from acute or chronic pain. It can be administered via intravenous or oral injection, providing flexibility inpatient treatment options.

Despite its efficacy, ibuprofen use may lead to certain adverse effects. These include the development of a rash, gastrointestinal complications such as bleeding in the stomach, and discomfort such as heartburn. Individuals with asthma may also experience worsening symptoms, and there is an increased risk of heart attack associated with ibuprofen use. Moreover, due to its potential risks, particularly in the later stages of pregnancy, healthcare providers often advise pregnant individuals to limit or avoid ibuprofen consumption, especially during the third trimester.

Market Dynamics

Global Ibuprofen Market Drivers

Rising Prevalence of Chronic Conditions

The global aging population is expected to drive an increase in chronic illnesses such as arthritis, consequently boosting the demand for pain management medications like ibuprofen. Chronic pain conditions, such as arthritis, can severely disrupt daily activities and significantly affect overall quality of life. Individuals living with these conditions actively seek effective pain management solutions to preserve their functionality and enhance their well-being. The need for easily accessible analgesics like ibuprofen is further accentuated by the growing emphasis on self-care and managing chronic conditions at home.

Furthermore, particularly in developing nations, there is an increasing need for reasonably priced painkillers like ibuprofen due to an aging population and an increase in chronic ailments. For instance, it is predicted that the prevalence of chronic illnesses will rise by 17% over the next ten years, affecting one in three persons worldwide. This emphasizes how urgently accessible and efficient pain management solutions are needed to lessen the burden of chronic illnesses and enhance people's quality of life around the globe.

Global Ibuprofen Market Restraint:

Increasing Knowledge and Acceptance of Alternative Painkillers

An increasing number of consumers are seeking medications and natural therapies with fewer negative effects, driven by concerns over the potential adverse effects associated with nonsteroidal anti-inflammatory drugs (NSAIDs), such as gastrointestinal issues and heightened risk of cardiovascular disease. This trend is further fueled by the growing acceptance of complementary and alternative medicine (CAM) modalities for pain management, offering alternatives to traditional pharmaceutical approaches. This shift in consumer preferences has led to greater accessibility to over-the-counter analgesics like acetaminophen, which is perceived to have milder adverse effects compared to NSAIDs. As a result, this growing demand for substitutes may impact ibuprofen's market share, particularly among consumers who prioritize their health and seek pain relief options with fewer potential side effects.

Global Ibuprofen Market Opportunities

Increasing Number of Menstruating Women

An estimated 1.8 billion individuals globally experience menstruation every month, comprising approximately 800 million women and girls, which equates to about 26% of the global population. However, menstruation often brings with it significant discomfort, with severe menstrual pain being a common experience for many. This discomfort is often attributed to the increased production of the chemical messenger prostaglandin by the uterus, leading to intense lower abdominal pain that may radiate to the back or thighs. To alleviate the discomfort associated with menstruation, ibuprofen, a non-steroidal anti-inflammatory drug (NSAID), is frequently utilized. It works by suppressing the production of prostaglandins, thereby reducing pain and inflammation.

Research suggests that NSAIDs, including ibuprofen, are highly effective in relieving period pain. Studies have shown that a significant proportion of individuals who did not take NSAIDs experienced severe pain after a few hours, whereas those who took NSAIDs experienced notable pain relief. For instance, one study found that 82 out of 100 girls and women who did not take NSAIDs still reported severe pain after a few hours, whereas only 51 out of 100 individuals who took NSAIDs experienced severe pain after the same duration. Overall, the prostaglandin inhibition process facilitated by ibuprofen and other NSAIDs offers a promising approach for alleviating menstrual discomfort, providing relief to millions of women and girls worldwide who experience period pain.

Regional Analysis

Based on region, the global ibuprofen market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global ibuprofen market shareholder and is expected to expand substantially during the forecast period. This growth is expected to be influenced significantly by the cost-efficient manufacturing of pharmaceuticals, particularly in nations like China and India, where production costs are notably low. The region witnesses a surge in healthcare expenditures, with the average healthcare benefit cost trends in the region rising from over 5% in 2020 to nearly 8% in 2021, declining to more than 6% in 2022, and projected to rise to approximately 11% in 2023 compared to the previous year. These factors collectively contribute to the support of the ibuprofen market share in the APAC region. The demographic landscape further amplifies the demand for ibuprofen, with India witnessing a significant aging population. According to the Elderly 2021 report, approximately 137.9 million Indians aged over 60 lived in India in 2021, with the numbers expected to escalate to 193.8 million by 2031. Given that the aging population is more prone to multiple chronic illnesses, the projected population growth is likely to fuel the demand for innovative approaches to pain management, including the use of ibuprofen.

Furthermore, strategic initiatives by key industry players, such as partnerships, product launches, and acquisitions, contribute to the market growth in the region. For instance, IOL Chemicals & Pharmaceuticals announced in September 2022 its investment of INR 300 crore in capital expenditures to establish a plant in western India, with plans to diversify its portfolio of specialty chemicals and active pharmaceutical ingredients. With ibuprofen accounting for about 30% of the company's revenue, its growth in India over the next five years is expected to bolster the country's market share. Such factors propel regional market growth.

Segmental Analysis

The global ibuprofen market is bifurcated into dosage form, type, end-user, and application.

Based on the dosage form, the global ibuprofen market is bifurcated into tablets, capsules, suspensions and solutions, and others.

The tablet segment held the largest revenue share of the global ibuprofen market. This is due to the versatility and accessibility of tablets in pain and fever management. Ibuprofen tablets are widely available over-the-counter (OTC) at pharmacies or by prescription from healthcare providers, making them a go-to option for treating mild to moderate pain associated with various conditions such as the common cold, flu, arthritis, menstrual cramps, and more. Tablets offer several advantages that contribute to their widespread use and market expansion. Their compact size, lightweight nature, and ease of portability allow individuals to conveniently carry them in purses, pockets, or travel bags, ensuring accessibility wherever needed. Moreover, tablets are simple to administer, requiring only swallowing with water, making them suitable for individuals of all ages and abilities.

Based on type, the global ibuprofen market is bifurcated into USP and EP.

The USP segment is expected to dominate the overall market. The segment is primarily driven by the high prevalence of various diseases in North America. United States Pharmacopeia (USP), established in 1820, serves as the official pharmacopeia of the United States. It encompasses a comprehensive set of legally mandated standards governing the identity, potency, purity, quality, and labeling of medicinal substances, dosage forms, and therapeutic products, including dietary supplements and nutrition. As a trusted authority in pharmaceutical standards, USP is critical in assuring the safety, efficacy, and quality of healthcare products available to consumers in North America and beyond. Its rigorous standards and guidelines serve as benchmarks for manufacturers, healthcare professionals, regulatory agencies, and consumers alike, fostering confidence in the integrity and reliability of pharmaceutical products.

Based on application, the global ibuprofen market is segmented into rheumatoid arthritis and osteoarthritis, cancer, pain/fever/dysmenorrhea, inflammatory diseases, headache, and others.

Rheumatoid arthritis and osteoarthritis are projected to dominate the revenue share of the global ibuprofen market. This is primarily due to ibuprofen's potent analgesic and anti-inflammatory properties. Rheumatoid arthritis, a chronic autoimmune disease, affects millions of individuals worldwide, leading to inflammation, pain, and stiffness in the joints. Osteoarthritis, the most prevalent form of arthritis, involves the breakdown of the joint's cartilage, resulting in pain, stiffness, and reduced mobility. Ibuprofen emerges as a favored option for managing the pain associated with rheumatoid arthritis and osteoarthritis. Its ability to alleviate inflammation and provide effective pain relief makes it a valuable therapeutic choice for individuals grappling with these debilitating conditions.

Based on end-users, the global ibuprofen market is segmented into CROs and CMOs and pharmaceutical and biopharmaceutical.

The pharmaceutical and biopharmaceutical companies segment is anticipated to hold the highest market share. Ibuprofen API development is increasing due to a boom in the growth of pharmaceutical and biopharmaceutical companies. The government has made significant investments in this industry, explaining why many pharmaceuticals are manufactured. Moreover, biopharmaceutical companies are given more prominence due to the combination of their product's safety, efficacy, and capacity to treat previously incurable diseases. For example, ibuprofen is classified as a class II drug in the Biopharmaceutics Classification System due to its low solubility and high permeability. Its uses include antipyretic, analgesic, and inflammatory properties.

Recent Developments

• April 2024- Effective April 1, 2024, the National Pharmaceutical Pricing Authority (NPPA) published a notice announcing an increase in the cost of prescription drugs such as amoxicillin, ibuprofen, cetirizine, and others. The notification states that the MRP (Maximum Retail Price) of the scheduled formulations will increase by 0.00551 percent beginning with the start of the fiscal year 2024–25.