Ibuprofen Api Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Ibuprofen Api Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Ibuprofen API market studied is anticipated to grow with a CAGR of nearly 4.8%, during the forecast period (2022-2027).

The Ibuprofen market growth was significantly impacted during the COVID-19 pandemic. In March 2020, United States Food and Drug Administration advised patients on the use of non-steroidal anti-inflammatory drugs (NSAIDs), such as ibuprofen, for COVID-19. It was hypothesized that an enzyme (a molecule that aids a biochemical reaction in the body) is increased by NSAIDs and could aggravate COVID-19 symptoms. However, an article titled “Ibuprofen use and clinical outcomes in COVID-19 patients” published in the journal of Clinical Microbiology and Infection in September 2020 studied the correlation between ibuprofen and coronavirus and indicated that ibuprofen use was not associated with worse clinical outcomes, compared with paracetamol or no antipyretic.

Certain factors that are driving the market growth include upsurge in pharmaceutical and biopharmaceutical production and growing prevalence of chronic disorders. The major chronic diseases such as cancer, cardiovascular diseases, chronic lung disease, stroke, Alzheimer’s, diabetes, and chronic kidney disease are on the rise all over the world, which is adding to the growth of the global ibuprofen market.​ With increasing risks, there are also effective therapies that lead to the treatment of patients suffering from chronic illness. The rise in the number of chronic disease cases plays an important role in healthcare. In addition, the growing number of factors attributing to the rise in chronic disease is increasing the market share for ibuprofen.

The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for drug development and its market.

Cancer is a leading cause of death all around the world, accounting for around 10 million deaths in 2020. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19.29 million cases. The number is estimated to rise to 28.89 million cases by 2040. ​​The American Heart Association in its 2022 update on Heart Disease and Stroke Statistics showed that in 2020, around 19.05 million deaths were reported globally because of Cardiovascular diseases.​

There has been an upsurge in the usage of advanced technologies, such as high throughput, bioinformatics and combinatorial chemistry for better drug candidate identification. Drug discovery has evolved significantly with emerging technologies, helping the process to become more refined, accurate, and less time consuming. Due to automation, multi-detector readers, imaging hardware and software, high-throughput screening is one of the most widely used drug discovery technologies.

Thus, the ibuprofen API market is expected to grow significantly over the forecast period. However, the rise in the production costs are likely to hinder the market growth over the forecast period.

Arthritis refers to the inflammation of a joint. When joints are inflamed they 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 joints of the body. Rheumatoid arthritis disease mostly affects the joints of the hand, wrists, elbows, knees, and ankles.

According to the Arthritis Foundation report titled “Rheumatoid Arthritis: Causes, Symptoms, Treatments and More” updated in October 2021, around 1.5 million people in United States were affected by rheumatoid arthritis. The report also revealed that women are at three times more risk of being affected than men. The large number of people affected by arthritis, due to the increasing geriatric population, requiring pain relief medications is expected to propel the growth of the ibuprofen market over the forecast period.

Higher doses of ibuprofen are available on prescription and can be used if one has rheumatoid arthritis or another type of 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 the treatment of rheumatoid arthritis. The tolerability and safety of ibuprofen are superior to those of aspirin and compare favorably with those of other NSAIDs.

Several key market players are adding to the segmental growth of the ibuprofen market. For instance, in August 2021, Alkem Laboratories launched Ibuprofen and Famotidine tablets, used to relieve the symptoms of rheumatoid arthritis and osteoarthritis, in United States. Such launch of new ibuprofen medications for pain treatment in arthritis is expected to propel the growth of the ibuprofen market over the forecast period.

The Asia-Pacific market is anticipated to witness high growth during the forecast period, due to increasing healthcare expenditure. Additionally, the low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region from across the world.

The increase in the incidence of rheumatoid arthritis disease is also expected to propel the market in the region during the forecast period. Analyzing the number of cases in the major countries of the Asia Pacific region, the healthcare activities in relation to the treatment of rheumatoid arthritis would require large and continuous support from everyone.

According to the report “Elderly in India 2021” by the Indian Ministry of Statistics and Programme Implementation published in July 2021 estimated that 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 as part of the treatment. This is anticipated to drive the market growth over the forecast period.

Several key market players are also adding to the growth of the market in the region. For instance, 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, osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as a gastric and/or duodenal ulcer in patients who are taking ibuprofen for those indications. Such product launches are expected to boost the growth of the market over the forecast period.

The Ibuprofen API market is competitive and consists of a few major players. Companies like BASF SE, BIOCAUSE Inc., IOL Chemicals And Pharmaceuticals Limited, SI Group, Inc., Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd., Solara Active Pharma Sciences Limited., among others, hold the substantial market share in the market.

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