The global ibuprofen market is experiencing steady growth due to its use as an anti-inflammatory drug that reduces hormones that cause inflammation and pain in the body. This medication is commonly used to alleviate pain in cases of fever, back pain, headache, menstrual pain, and toothache. The drug is a derivative of propionic acid and remains non-steroidal. The growing ageing population that is prone to diseases and health conditions and the increase in patients suffering from cardiovascular diseases, cancer, arthritis, and other chronic diseases are positive factors contributing to the growth of the ibuprofen market. Furthermore, easy product availability and extensive supply and distribution networks are likely to stimulate the ibuprofen market trends.
The ibuprofen market is extensively fragmented due to the presence of several established market players and new entrants. The key stakeholders in the market include importers/exporters, raw materials suppliers, and a large number of pharmaceutical companies. This drug is available in a number of forms, such as tablets, liquids, and capsules, with specified ranges of dosages across age groups. The global market for ibuprofen is expected to witness steady growth between 2023-2032 due to changes in business models, lifestyle changes, as well as growth in the contraction of diseases.
The ibuprofen market's regional overview reveals significant results and yields important conclusions. The market presence across Asia Pacific remains strong and is expected to see continued and steady growth due to an increase in population and people in the elderly age group. China and India are the largest suppliers of Ibuprofen, supplying 48% and 30.7%, respectively, to the global market size. North America and Europe are also predicted to experience growth due to lifestyle changes and increasing healthcare expenditure. Even with the introduction of new regional players in the market, these regions continue to hold a significant share in the global market.
The COVID-19 outbreak has significantly impacted the pharmaceutical industry, leading to a decline in supply and demand. The pandemic has resulted in a decline in ibuprofen demand due to the halting of its production by manufacturing agents. China, the global manufacturing hub of ibuprofen, has also suffered severely, leading to a disruption in production and export of the product. Thus, a downward trend is expected to continue until the pandemic subsides. This trend is observed across markets in several regions.
In conclusion, the global ibuprofen market is experiencing steady growth due to its anti-inflammatory properties that reduce hormones causing pain and inflammation in the body. The market remains fragmented due to the presence of established players and new entrants. The regional overview indicates strong market presence across Asia Pacific, North America, and Europe, among other regions. The COVID-19 pandemic has led to a decline in ibuprofen demand, and the downward trend is expected to continue until the pandemic subsides.
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Ibuprofen Market: Segmentation
The Ibuprofen industry is seen to have a varied segmentation all across its usage, whether for personal reasons or for pharmaceutical or medical concerns.
The segments hold a significant share in the international market. The segmentation for ibuprofen can be done along the following categorizations:
Type overview (Revenue, USD Million; 2023-2032)
- USP
- EP
Applications overview (Revenue, USD Million; 2023-2032)
- Tablet
- Capsule
- Suspension
- Other
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