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Escalating Sales of Analgesic Drugs Supports the Global Ibuprofen Market

Date: 21st Dec 2020 | Category: Pharma & Healthcare

The global ibuprofen market is projected to reach US$7.54 billion in 2024, progressing at a CAGR of 2.47%, over the period 2020-2024. The factors such as upsurge in healthcare expenditure, rising prevalence of arthritis, surging incidence of cancer cases, expanding urbanization and escalating sales of analgesic drugs would drive the growth of the market. However, the market growth would be challenged by adverse side effects and increase in the price of raw materials. A few notable trends include mounting e-commerce penetration, upswing in sports injuries, surging occurrence of chronic disorders and increasing public awareness. 

The global ibuprofen market has been categorized on the basis of product, dosage form and process. On the basis of product, the global ibuprofen market can be bifurcated into United States Pharmacopoeia (USP) and European Pharmacopoeia (EP). According to the dosage form, the global ibuprofen market can be split into tablets, suspension & solution and other forms such as capsules, gels and creams. Whereas, the ibuprofen market can be segmented into oral and intravenous, on the basis of process.

The fastest growing regional market is North America due to improvements in healthcare infrastructure coupled with growing demand for ibuprofen due to the side effects of opioid analgesics such as respiratory depression, allergic reactions, sedation and gastrointestinal events, growing research and development activities for the development of innovative drugs and rising prevalence of chronic diseases such as respiratory disorders, heart disease, obesity, and asthma in the region. 

Scope of the report:

• The report provides a comprehensive analysis of the global ibuprofen market segmented on the basis of product type, dosage form, process and region.

• The major regional and country markets (North America, Europe, Asia Pacific (APAC) and Latin America, Middle East & Africa (LAMEA) have been analyzed. 

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (BASF SE, Perrigo Company PLC, Shandong Xinhua Pharmaceutical Co., Ltd., Strides Pharma Science Limited, IOL Chemicals & Pharmaceuticals Ltd. and SI Group, Inc.) are also presented in detail. 

Key Target Audience:

• Ibuprofen Manufacturers

• Ibuprofen Distributors/Traders/Wholesalers

• Pharmaceutical Companies

• Downstream Vendors

• Government Bodies & Regulating Authorities