Market Size of Ibuprofen API Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Ibuprofen API Market Analysis
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.
