The ibuprofen API market is anticipated to register a CAGR of nearly 4.8% during the forecast period.
The COVID-19 pandemic significantly impacted the ibuprofen active pharmaceutical ingredient (API) market due to its increased utility owing to its analgesic properties. Its increased utility worldwide led to its shortage in pharmacies. A research article published in the Infectious Diseases and Therapy Journal in March 2021 stated that ibuprofen vanished from pharmacy shelves during the COVID-19 pandemic. The study also reported that acute or chronic use of ibuprofen was not associated with worse COVID-19 disease outcomes. Hence, it was widely used worldwide for self-medication purposes. Yet, as the COVID-19 cases seized, the market reported a slight decline in growth. The market is anticipated to regain its full growth over the upcoming 4-5 years owing to the increasing expansion of ibuprofen API manufacturing by key players worldwide. Specific factors driving the market growth include an upsurge in pharmaceutical and biopharmaceutical production and the growing prevalence of chronic disorders.
The increasing prevalence of musculoskeletal disorders among all age groups globally drives the demand for drug development and boosts market growth. According to Statistics Canada's August 2022 update, 657,900 people aged 35 to 49 years, 2,042,100 people aged 50 to 64 years, and 3,138,500 people aged 65 and above had arthritis in 2021. The increased burden of arthritis and the rising incidence of arthritis with aging is associated with the high utility of ibuprofen for pain relief, which is ultimately expected to propel the market growth.
Furthermore, the American Cancer Society's Cancer Statistics 2022 predicted 1,918,030 new cancer cases in the United States in 2022. According to the Canadian Cancer Statistics November 2021 report, an estimated 2 in 5 Canadians were likely to be diagnosed with cancer in their lifetime. It also estimated 229,200 Canadians to be diagnosed with cancer in 2021. The increased burden of cancer globally is expected to increase the demand and need to develop effective and safe cancer drugs. This further increases the demand for active pharmaceutical ingredients, including ibuprofen, used during chemotherapy.
Several key market players are engaged in strategic initiatives, such as product launches, approvals, and partnerships, which are adding to the market's growth. In September 2021, Lupin, an India-based pharmaceutical company, launched the authorized generic version of Duexis (ibuprofen and famotidine) Tablets for the relief of signs and symptoms of rheumatoid arthritis and osteoarthritis. These tablets also decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as gastric and/or duodenal ulcer in patients taking ibuprofen. Such launches are estimated to increase the utility of ibuprofen API and ultimately propel market growth.
Therefore, the ibuprofen API market is expected to grow significantly over the forecast period due to factors such as the rising prevalence of chronic diseases and increasing strategic initiatives by key players. However, the rise in production costs will likely hinder the market's growth.
Higher doses of ibuprofen are available on prescription and can be used for rheumatoid or other inflammatory arthritis. In doses of 1,200 mg/day or more, ibuprofen is as effective as aspirin and other nonsteroidal anti-inflammatory drugs (NSAIDs) in treating rheumatoid arthritis. The tolerability and safety of ibuprofen are superior to aspirin and compare favourably with other NSAIDs.
According to the Juvenile Arthritis Foundation Australia 2022 report, juvenile arthritis is estimated to affect 6,000 to 10,000 Australian children aged 1-16 years, making it as common as childhood diabetes and epilepsy. Also, as per the Arthritis Foundation 2022 report, nearly 300,000 children in the United States have juvenile arthritis. 36% of the surveyed children reported severe discomfort, significantly limiting their daily activities. The large number of pediatric patients affected by arthritis require pain relief medications, which is expected to propel the growth of the ibuprofen API market and boost the segment's growth.
Several key market players are adopting strategic initiatives, such as product launches, approvals, and partnerships, adding segmental growth to the ibuprofen market. For instance, in August 2021, Alkem Laboratories in the United States launched ibuprofen and famotidine tablets, used to relieve the symptoms of rheumatoid arthritis and osteoarthritis. Such launches of new ibuprofen medications for pain treatment in arthritis is expected to propel the growth of the ibuprofen market over the forecast period.
Therefore, owing to the factors such as the rising prevalence of arthritis worldwide and company initiatives, the segment is expected to propel during the forecast period.
According to the Elderly in India 2021 report, around 137.9 million people over the age of 60 years were living in India in 2021. The numbers are projected to rise to 193.8 million by the year 2031. As the geriatric population is prone to suffer from several chronic diseases, the anticipated increase in population is expected to fuel the demand for innovative pain relief. This is anticipated to drive market growth over the forecast period.
Also, the strategic initiatives by key market players, such as product launches, partnerships, and acquisitions, have aided the region's market growth. For instance, in September 2022, IOL Chemicals & Pharmaceuticals announced that it is diversifying its active pharmaceutical ingredient (API) and specialty chemicals portfolios and is spending INR 300 crore on capital expenditure to set up a plant in western India. The new plant is aimed to double the company's sales in the next 5 years. The company generates around 30% of its revenues from the commodity API ibuprofen. The company's expansion in India is expected to propel the region's market share during the forecast period.
Therefore, owing to the factors such as the increasing geriatric population in the region and rising strategic initiatives by key players are expected to propel market growth in the area.
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The COVID-19 pandemic significantly impacted the ibuprofen active pharmaceutical ingredient (API) market due to its increased utility owing to its analgesic properties. Its increased utility worldwide led to its shortage in pharmacies. A research article published in the Infectious Diseases and Therapy Journal in March 2021 stated that ibuprofen vanished from pharmacy shelves during the COVID-19 pandemic. The study also reported that acute or chronic use of ibuprofen was not associated with worse COVID-19 disease outcomes. Hence, it was widely used worldwide for self-medication purposes. Yet, as the COVID-19 cases seized, the market reported a slight decline in growth. The market is anticipated to regain its full growth over the upcoming 4-5 years owing to the increasing expansion of ibuprofen API manufacturing by key players worldwide. Specific factors driving the market growth include an upsurge in pharmaceutical and biopharmaceutical production and the growing prevalence of chronic disorders.
The increasing prevalence of musculoskeletal disorders among all age groups globally drives the demand for drug development and boosts market growth. According to Statistics Canada's August 2022 update, 657,900 people aged 35 to 49 years, 2,042,100 people aged 50 to 64 years, and 3,138,500 people aged 65 and above had arthritis in 2021. The increased burden of arthritis and the rising incidence of arthritis with aging is associated with the high utility of ibuprofen for pain relief, which is ultimately expected to propel the market growth.
Furthermore, the American Cancer Society's Cancer Statistics 2022 predicted 1,918,030 new cancer cases in the United States in 2022. According to the Canadian Cancer Statistics November 2021 report, an estimated 2 in 5 Canadians were likely to be diagnosed with cancer in their lifetime. It also estimated 229,200 Canadians to be diagnosed with cancer in 2021. The increased burden of cancer globally is expected to increase the demand and need to develop effective and safe cancer drugs. This further increases the demand for active pharmaceutical ingredients, including ibuprofen, used during chemotherapy.
Several key market players are engaged in strategic initiatives, such as product launches, approvals, and partnerships, which are adding to the market's growth. In September 2021, Lupin, an India-based pharmaceutical company, launched the authorized generic version of Duexis (ibuprofen and famotidine) Tablets for the relief of signs and symptoms of rheumatoid arthritis and osteoarthritis. These tablets also decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as gastric and/or duodenal ulcer in patients taking ibuprofen. Such launches are estimated to increase the utility of ibuprofen API and ultimately propel market growth.
Therefore, the ibuprofen API market is expected to grow significantly over the forecast period due to factors such as the rising prevalence of chronic diseases and increasing strategic initiatives by key players. However, the rise in production costs will likely hinder the market's growth.
Ibuprofen API Market Trends
Arthritis Holds a Significant Share in the Ibuprofen API Market
Arthritis refers to the inflammation of a joint. Inflamed joints can develop stiffness, warmth, swelling, redness, and pain. There are over 100 types of arthritis, namely osteoarthritis, rheumatoid arthritis, ankylosing spondylitis, psoriatic arthritis, lupus, gout, pseudogout, etc. Rheumatoid arthritis is an autoimmune disorder that causes pain and inflammation in the body's joints. The segment is anticipated to grow owing to the factors such as the rising incidence of various types of arthritis, product launches, and the increasing geriatric population.Higher doses of ibuprofen are available on prescription and can be used for rheumatoid or other inflammatory arthritis. In doses of 1,200 mg/day or more, ibuprofen is as effective as aspirin and other nonsteroidal anti-inflammatory drugs (NSAIDs) in treating rheumatoid arthritis. The tolerability and safety of ibuprofen are superior to aspirin and compare favourably with other NSAIDs.
According to the Juvenile Arthritis Foundation Australia 2022 report, juvenile arthritis is estimated to affect 6,000 to 10,000 Australian children aged 1-16 years, making it as common as childhood diabetes and epilepsy. Also, as per the Arthritis Foundation 2022 report, nearly 300,000 children in the United States have juvenile arthritis. 36% of the surveyed children reported severe discomfort, significantly limiting their daily activities. The large number of pediatric patients affected by arthritis require pain relief medications, which is expected to propel the growth of the ibuprofen API market and boost the segment's growth.
Several key market players are adopting strategic initiatives, such as product launches, approvals, and partnerships, adding segmental growth to the ibuprofen market. For instance, in August 2021, Alkem Laboratories in the United States launched ibuprofen and famotidine tablets, used to relieve the symptoms of rheumatoid arthritis and osteoarthritis. Such launches of new ibuprofen medications for pain treatment in arthritis is expected to propel the growth of the ibuprofen market over the forecast period.
Therefore, owing to the factors such as the rising prevalence of arthritis worldwide and company initiatives, the segment is expected to propel during the forecast period.
Asia-Pacific Expected to Witness Significant Growth in Ibuprofen API Market
Due to increasing healthcare expenditure, the Asia-Pacific market is anticipated to witness significant growth during the forecast period. Additionally, the low manufacturing costs in China and India have resulted in a rise in production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region from across the world.According to the Elderly in India 2021 report, around 137.9 million people over the age of 60 years were living in India in 2021. The numbers are projected to rise to 193.8 million by the year 2031. As the geriatric population is prone to suffer from several chronic diseases, the anticipated increase in population is expected to fuel the demand for innovative pain relief. This is anticipated to drive market growth over the forecast period.
Also, the strategic initiatives by key market players, such as product launches, partnerships, and acquisitions, have aided the region's market growth. For instance, in September 2022, IOL Chemicals & Pharmaceuticals announced that it is diversifying its active pharmaceutical ingredient (API) and specialty chemicals portfolios and is spending INR 300 crore on capital expenditure to set up a plant in western India. The new plant is aimed to double the company's sales in the next 5 years. The company generates around 30% of its revenues from the commodity API ibuprofen. The company's expansion in India is expected to propel the region's market share during the forecast period.
Therefore, owing to the factors such as the increasing geriatric population in the region and rising strategic initiatives by key players are expected to propel market growth in the area.
Ibuprofen API Market Competitor Analysis
The ibuprofen API market is fragmented due to the presence of many companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold major or significant market shares. Some key players are BASF SE, Dr Reddy’s Laboratories Ltd, IOL Chemicals and Pharmaceuticals Limited, SI Group, Inc., Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd, Solara Active Pharma Sciences Limited, Athenex, Inc., and Teva Pharmaceutical Industries Ltd.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - in USD Million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BASF SE
- Dr. Reddy's Laboratories Ltd
- IOL Chemicals and Pharmaceuticals Limited
- SI Group, Inc.
- Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd
- Solara Active Pharma Sciences Limited
- Strides Pharma Science Limited
- SX Pharma
- Granules India Limited
- Rochem International Inc.
- Octavius Pharma Pvt. Ltd
- Athenex, Inc.
- Teva Pharmaceutical Industries Ltd
Methodology
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