BANGALORE, India, Jan. 5, 2024 /PRNewswire/ — Ibuprofen Market is Segmented by Type (USP, EP), by Application (Suspension, Tablet, Capsule): Global Opportunity Analysis and Industry Forecast, 2024-2029. It is Published in Valuates Reports Under the Category of Pharmaceuticals & Biotech.
The Global Ibuprofen Market Size is expected to reach USD 112.3 Million by 2029, growing at a CAGR of 2.7% from 2023 to 2029.
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Major Factors Driving the Growth of Ibuprofen Market:
Because of the rising prevalence of pain and inflammatory diseases worldwide, as well as the popularity of self-medication and over-the-counter medications, consumers are increasingly turning to Ibuprofen for efficient pain management and anti-inflammatory effects. The growing senior population, which is more likely to suffer from age-related illnesses, and the growing popularity of sports and fitness activities both fuel the market’s expansion and increase demand for pain management products.
Because it complies with the strict quality and safety guidelines established by the US Pharmacopoeia, Ibuprofen USP is the recommended brand. This accreditation guarantees that the Ibuprofen product satisfies particular standards for potency, purity, and manufacturing procedures, giving customers and healthcare professionals trust.
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TRENDS INFLUENCING THE GROWTH OF IBUPROFEN MARKET
The market for ibuprofen is expanding significantly due to the rising prevalence of inflammatory and pain diseases worldwide. With its broad range of uses, including the lowering of fever, mild to moderate pain relief, and anti-inflammatory qualities, Ibuprofen has emerged as a preferred option for people with a variety of illnesses. The rising incidence of ailments including headaches, arthritis, and muscular strains significantly adds to the rising need for Ibuprofen across a wide range of populations. Ibuprofen’s over-the-counter (OTC) availability is essential to the drug’s expansion in the market. The accessibility of acquiring drugs without a prescription has led to a spike in the usage of Ibuprofen among consumers who want to self-medicate.
The aging of the world’s population is a major element driving the Ibuprofen market. Elderly people frequently struggle with inflammatory aging-related disorders such osteoarthritis and persistent pain. This group has a greater need for pain treatment options that work, which drives higher demand for Ibuprofen since it strikes a balance between safety and effectiveness—two factors that are very important to older folks. The market for Ibuprofen is expanding due in part to the growing interest in sports and fitness activities throughout the world. Athletes and fitness enthusiasts frequently experience joint discomfort, muscular strains, and sports-related injuries. Because of its anti-inflammatory qualities, ibuprofen is a popular option for treating pain and promoting healing, which increases demand in this market.
The market for Ibuprofen is further propelled by the pharmaceutical industry’s increased focus on pain treatment remedies. Ongoing research and development endeavors focus on augmenting the effectiveness and safety characteristics of analgesics; Ibuprofen is a prominent and extensively researched alternative. The pharmaceutical industry’s innovations and partnerships support the growth of the market.
Market expansion is facilitated by rising consumer knowledge of Ibuprofen’s efficacy and safety. Encouraging campaigns and information sharing on the proper dosage, usage, and possible adverse effects of Ibuprofen enable customers to make well-informed decisions. When people grow more discriminating in their healthcare choices, the market is enhanced by the emphasis on appropriate medicine consumption.
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IBUPROFEN MARKET SHARE ANALYSIS
There is fierce rivalry in the market. With over 81% of the market, Xinhua Pharmaceutical, IOLCP, Granules Biocause, Shasun, BASF, and SI Group are the leaders in the sector.
With a production market share of around 48%, China is the world’s biggest supplier of ibuprofen. With a production market share of around 30%, India is the second-largest supplier of ibuprofen.
With a sales market share of about 29%, North America is the largest sales region. Europe has a 26% sales market share, making it the second-largest sales region after North America.
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Key Players:
- Xinhua Pharmaceutical
- IOLCP
- Granules Biocause
- Strides Shasun
- BASF AG
- SI Group
- Xinhua-Perrigo Pharmaceutical
- Hisoar
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