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Ibuprofen Market to Reach $213.6 Million, Globally, by 2033 at 7.9% CAGR: Allied Market Research

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Allied Market Research

30 Aug, 2024, 07:11 GMT

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PORTLAND, Ore., Aug. 30, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Ibuprofen Market by Type (Tablet, Capsule, Syrup, Injection, and Other), Application (Rheumatoid Arthritis and Osteoarthritis, Cancer, Pain/Fever/Dysmenorrhea, Inflammatory Diseases, Headache, and Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2024-2033.". According to the report, the ibuprofen market was valued at $100.0 million in 2023, and is estimated to reach $213.6 million by 2033, growing at a CAGR of 7.9% from 2024 to 2033.

Prime Determinants of Growth

The global ibuprofen market is experiencing growth due to widespread adoption of the nonsteroidal anti-inflammatory drug such as ibuprofen for pain management, rise in geriatric population, and surge in prevalence of chronic disease. Furthermore, the availability of over-the-counter ibuprofen is expected to further increase the adoption of ibuprofen among its users. 

Request Sample of the Report on Ibuprofen Market Forecast 2033 - https://www.alliedmarketresearch.com/request-sample/A65446 

Segment Highlights

The Ibuprofen market is segmented into type, application, distribution channel and region. By type, the market is divided into tablet, capsule, syrup, injection, and others. By application, the market is classified into rheumatoid arthritis and osteoarthritis, cancer, pain/fever/dysmenorrhea, inflammatory diseases, headache, and others. By distribution channel, the market is categorized into hospital pharmacies, retail pharmacies and online pharmacies.

By type, the tablet segment dominated the market share in 2023 attributed to the fact that tablets are one of the most common and widely accepted dosage forms for oral medications, offering convenience, ease of administration, and accurate dosing for patients. Ibuprofen tablets are available in various strengths, ranging from over-the-counter (OTC) formulations for mild pain and fever to prescription-strength tablets for more severe conditions such as arthritis and inflammation. This versatility allows healthcare providers to prescribe Ibuprofen tablets according to the specific needs and severity of patients' symptoms, contributing to their widespread use and market dominance.

Want to Explore More, Connect to our Analyst - https://www.alliedmarketresearch.com/connect-to-analyst/A65446 

By application, the rheumatoid arthritis segment dominated the market share in 2023. This is attributed to high prevalence of rheumatoid arthritis. The increase in incidence of rheumatoid arthritis, particularly among the aging population, has surged the need for advanced therapeutic solutions.  Furthermore, rheumatoid arthritis treatments often require long-term pain management medication, resulting in sustained demand for ibuprofen over extended periods.

By distribution channel, the hospital pharmacies segment dominated the market share. This is attributed to the fact that hospitals are primary healthcare facilities that handle a broad spectrum of medical conditions, ranging from acute injuries to chronic diseases, where pain management is an essential component of patient care. Ibuprofen, being a versatile and widely used nonsteroidal anti-inflammatory drug (NSAID), is frequently administered in hospitals to manage pain and reduce inflammation in various clinical settings, including post-surgical recovery, emergency care, and treatment of chronic conditions like arthritis.

For Purchase Related Queries/Inquiry - https://www.alliedmarketresearch.com/purchase-enquiry/A65446 

Regional Outlook

Emerging economies like India and China are witnessing rapid development of healthcare infrastructure, growth in geriatric population, and rise in chronic conditions such as arthritis. In addition, North America is expected to dominate the market share, owing to the developed healthcare infrastructure, and strong presence of major key players.

Key Players

  • Abbott Laboratories Ltd.
  • Solara Active Pharma Sciences Ltd.
  • Ѕhаndоng Хіnhuа Рhаrmасеutісаl Со.Ltd
  • ІОL Сhеmісаlѕ and Рhаrmасеutісаl Lіmіtеd
  • Нubеі Віосаuѕе Рhаrmасеutісаl Со.Ltd
  • Ѕtrіdеѕ Рhаrmа Ѕсіеnсе Lіmіtеd
  • Реrrіgо Соmраnу PLC
  • BASF SE
  • Маllіnсkrоdt PLC
  • Biocause Inc.

The report provides a detailed analysis of these key players in the global Ibuprofen market. These players have adopted different strategies such as collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Development

  • In July 2023, BASF SE and Recipharm, announced collaboration. The two companies joined forces to pioneer the development of innovative ibuprofen formulations. Leveraging BASF's expertise in ibuprofen synthesis and Recipharm's proficiency in drug formulation, the partnership aims to create formulations that are more effective, exhibit fewer side effects, and are easier to administer.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact
David Correa
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Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
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