Ibuprofen API Market Records Growth of USD 31.68 million from 2022 to 2027, Major Innovations and Key Vendor Offerings - Technavio
NEW YORK, Jan. 23, 2024 /PRNewswire/ -- The ibuprofen API market value is anticipated to grow by USD 31.68 million, progressing at a CAGR of 2.53% during the forecast period.The market report includes leading vendors including Arch Pharmalabs Ltd., Athos Chemicals Pvt. Ltd., Azelis SA, BASF SE, Chemino Pharma Ltd., Dr Reddys Laboratories Ltd., Granules India Ltd., HELM AG, IOL Chemicals and Pharmaceuticals Ltd., Mallinckrodt Plc, Octavius Pharma Pvt Ltd., Piramal Enterprises Ltd., Rochem International Inc., SI Group Inc., Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co. Ltd. Solara Active Pharma Sciences Ltd., Strides Pharma Science Ltd., Teva Pharmaceutical Industries Ltd., Titan Lab Pvt Ltd., and Otto Brandes GmbH
The surge in the geriatric population emerges as a catalyst propelling the growth of the Ibuprofen Active Pharmaceutical Ingredient (API) market. With a heightened risk of chronic illnesses accompanying advancing age, there is a consequential upswing in demand for Ibuprofen APIs. The Centers for Disease Control and Prevention (CDC) anticipates the elderly population in the US, aged 65 and above, to reach approximately 71 million, intensifying the prevalence of age-related diseases. This drives the adoption of diverse therapeutics, emphasizing the significance of Ibuprofen API in the pharmaceutical supply chain and drug development.
The paradigm shift in API manufacturing is an emerging market trend fueling the growth, whereas stringent regulations on ibuprofen API hampers market growth during the forecast period, says a senior analyst at Technavio.
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The report includes a competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
By Segmentation, the pharmaceutical companies segment is significant.
- The pharmaceutical companies segment is poised for substantial market share growth in the ibuprofen API market throughout the forecast period. This surge is attributed to Ibuprofen API's popularity within the segment, given its diverse applications in easing mild to moderate pain, acting as an analgesic and antipyretic agent, and exhibiting anti-inflammatory properties. Widely used in conditions such as rheumatoid arthritis and osteoarthritis, Ibuprofen API plays a pivotal role in drug development, adhering to regulatory compliance, and maintaining quality control within the pharmaceutical supply chain.
Ibuprofen API Market: Major Applications
- The global market trends underscore its significance in therapeutic drugs, with applications spanning generic drugs, clinical trials, formulation, and dosage forms. The competitive landscape sees pharmaceutical companies engaging in robust research and development (R&D), drug approval processes, and collaboration with Contract Manufacturing Organizations (CMOs). The Ibuprofen API market's reach extends to emerging markets and Over-the-Counter (OTC) medications, shaping a dynamic forecast that emphasizes the pharmaceutical industry's commitment to innovation and market responsiveness.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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