NEWARK, Del., Nov. 21, 2023 /PRNewswire/ — A surge in cardiovascular disease, fueled by lifestyle factors like high-cholesterol diets and smoking, is propelling the growth of the aspirin drug market, presenting lucrative opportunities for aspirin manufacturers. This comprehensive report by Future Market Insights explores the key drivers, challenges, and investment prospects shaping the aspirin drug industry, providing valuable insights for businesses navigating this dynamic landscape.
The global aspirin drug market value is expected to rise from US$ 2,938.2 million in 2024 to US$ 4,236.9 million by 2034. This estimated growth is expected to be driven by a consistent CAGR of 3.8% in the aspirin drug market over the next decade.
The global market for aspirin drugs is strongly linked to the development and expansion of the healthcare sector and the research and development of aspirin drugs. Rising cases of cardiovascular diseases around the globe are expected to boost the demand for aspirin drugs. As per the data published by the World Health Organization (WHO) in June 2022, 32% of all deaths worldwide were due to CVDs in 2019, which is around 17.9 million people. Heart attack and stroke-related deaths exhibited 85% of these total deaths.
Pharmaceutical manufacturers are concentrating on new drug discoveries, formulation of effective tablets, and experimentation with different drug dosages. Several patients widely accept aspirin due to their reputation as an effective medication for chronic diseases. Consequently, sales of aspirin drugs are predicted to observe a substantial rise over the expected period.
“Strategic moves of leading players include new product launches, research and development efforts for effective pain killers, educational campaigns, and expanding online presence to stay relevant in the pharmaceutical sector,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Aspirin Drug Market Overview:
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Attributes |
Details |
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CAGR (2024 to 2034) |
3.8 % |
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Aspirin Drug Market Size (2019) |
US$ 2,471.6 million |
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Aspirin Drug Market Size (2023) |
US$ 2,831.8 million |
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Aspirin Drug Market Size, 2024 |
US$ 2,938.2 million |
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Aspirin Drug Market Size, 2034 |
US$ 4,236.9 million |
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Growth Factor |
The pervasive use of aspirin drugs in the treatment of various diseases. |
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Aspinin Drug Market Future Opportunities |
Constant research and development efforts for aspirin drug development. |
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Market Trends |
Increasing efforts to ramp up the production of aspiring drugs. |
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Top Companies Profile |
· Bayer AG · Dr Reddy’s Laboratories · Sanofi S.A · Abbott Laboratories · Sunshine Laboratories India Limited · ANI Pharmaceuticals, Inc · Thermo Fisher Scientific, · Advance Pharmaceutical Inc. · Allegiant Health · KEM Pharma LLC |
· Globalimporter Inc. · Par Pharmaceutical, · Industria Quimica Andina Y Cia Sa · Cardinal Health · Nanjing pharmaceutical factory Co, ltd. · JQC (Huayin) Pharmaceutical Co., Ltd. · LNK International, Inc. · Perrigo Company plc · Zhenjiang Gaopeng Pharmaceutical CO,.Ltd. |
· J.M. Loveridge Ltd · Mayne Pharma Group Limited · Eli Lilly and Company · Shandong Xinhua Pharmaceutical Co Ltd · Zhongnan Pharmaceutical · Jilin Pharmaceutical · Novacap · Alfred Benzon As · Noristan Ltd |
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Report Coverage |
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
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Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!
Key Takeaways from the Aspirin Drug Market Report
- Combination is the leading segment of aspirin drugs. The segment is predicted to hold a 68.0% market share in 2024. Increasing cases of strokes due to lifestyle changes are expected to contribute to this segment’s growth.
- The tablet is set to lead in terms of indication of aspirin drugs, with a projected market share of around 44.8% by 2024. The increasing consumption of pills fuels product demand to relieve conditions like arthritis, pain, and swelling.
- By route of administration, the oral segment is leading in the global aspirin drug market. The segment is expected to expand at a projected CAGR of 3.5% CAGR through 2034. The market share of this segment is predicted to be 49.8% in 2024.
- Paediatric holds a substantial share in the aspirin drug market with a value share of 56.2%. The segment is predicted to increase at a CAGR of 3.8% through 2034.
- Retail pharmacies as a distribution channel hold the chief position. The segment is expected to expand at a CAGR of 3.4% through 2034.
- The United States is estimated to account for a dominant share of 25.7% in 2024. Regionally, the country is predicted to hold a massive share of 88.9% in the same year. Moreover, the regional market is expected to expand at a CAGR of 3.9%.
Significant Steps Undertaken by Leading Players
The market for aspirin drugs is fragmented, and several local, upcoming, and established players exist within the market. Key players are initiating marketing initiatives to educate the elderly about the benefits of aspirin drugs while also attempting to improve drugs with different specifications.
Recent Developments Advancing the Field of Aspirin Drug
- In December 2022, Bayer announced that it would invest €100 million to enable the consumption of consumer health products, production, and sustainable innovation, including well-known brands like Aspirin, Claritin, Elevit, and Bepanthen.
- In February 2023, Bayer introduced a new aspirin campaign to raise awareness about the link between cardiovascular health and the stress of sports fandom.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
About Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI’s Extensive Coverage in the Healthcare Domain:
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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