Precision Business Insights (PBI) in its report titled “Global Ibuprofen market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global ibuprofen market was valued at US$ XX Mn in 2018 and increasing at a significant CAGR over the forecast timeframe owing to surge in the incidence of inflammatory and pain mediated diseases, headaches and rate of incidence of diseases like cancer, arthritis like diseases which involve severe pain, its nature of pain reduction with less dependence on opioids, growing healthcare awareness and health care spending, increasing number of manufacturing companies, and rise in the number of product approvals are expected to drive the global ibuprofen market. However, factors such as increased market competition, regulations of governments, and laws like drug price control order which restrict the price of product in the market are anticipated to hinder the revenue share of global ibuprofen market.
Global ibuprofen market segmented on the basis of indication, route of administration, distribution channel and Geography.
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Oral Ibuprofen Formulation Dominates the Global Ibuprofen market
Based on route of administration, global ibuprofen market segmented into oral route and parenteral route. The formulation which can be given through oral route like tablets and capsules dominated the global ibuprofen market in 2018 and estimated to dominate over the forecast period, owing to the ease of administration, low cost, more availability, less manufacturing cost and more profits for the manufacturing companies. However, an increased growth rate observed in case of formulations given through parenteral route, owing to faster on set of action due to which the patient gets immediate relief from the pain, increased demand in the market are surge the market over the forecast years.
North America Leads the Global Ibuprofen market
PBI’s global ibuprofen market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to advance healthcare system, enhanced R&D activities, increasing demand due to less adverse effects and more therapeutic effect, and the presence of major market players in the region and rise in healthcare expenditure are propel the market. Moreover, one of the major cause of deaths in United States is due to the pain mediated diseases. Asia Pacific ibuprofen market projected to exhibit significant growth due to entry of major generic market players into emerging countries such as India and China and owing to increase in research and development, increasing demand, increasing opportunities for market growth boost the market.
Launch of newer formulation products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global ibuprofen market further reveals that the key players increasingly adopting strategies such as launch of newer technologies of needle free injector products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In 2009, the Cumberland Pharmaceuticals Inc. had an exclusive agreement with DB Pharm Korea Co. Ltd., a Korean-based pharmaceutical company, for the commercialization of Caldolor ibuprofen IV Injection in South Korea. This agreement has increased the market share of Cumberland pharmaceuticals in global ibuprofen market.
Key player’s profiles in the report are
• Xinhua Pharmaceutical (China)
• IOLCP (India)
• Granules Biocause (India)
• Shasun (India)
• BASF (US)
• SI Group (US)
• Xinhua-Perrigo Pharmaceutical (China)
• Hisoar (U.S.)
• Alveda Pharmaceuticals, Inc (Canada)
• Grifols S.A. (Spain)
• Al Nabeel International Ltd.,( Sultanate of Muscat and Oman)
By Route of administration
By Distribution channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
• Latin America
• Rest of Latin America
• Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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