Ibuprofen is a popular drug which is used for relieving pain. On a global scale, the ibuprofen industry can be segmented into the product, its diverse applications, and its research regions. According to geography, regions such as Europe, North America, and Asia Pacific nations of China and India are identified to have major manufacturing regions.
Market dynamics is decided as per Ibuprofen growth drivers in the emerging market segments. The growth curve of the ibuprofen market size is dependant on the market policies and geopolitical relations between companies and governments worldwide. As a growing trend in the ibuprofen market, there is a shortage of the drug. This has resulted in a sharp spike of prices in the ibuprofen industry. There is a shortage of supplies in the pharmaceutical agent of ibuprofen which has added to this price hike. The API (Active Pharmaceutical Ingredient), which is also known as the bulk drug, has been seen as a major reason for the shortage of supplies and the consequential price hike.
Global market scenario
The major manufacturing companies in regions such as China and India are Solara Active Pharma Sciences, Strides Shasun which is a subsidiary of Strides Chemicals, Granules India, and IOL Chemicals and Pharmaceuticals. The Indian company, Granules has a dedicated ibuprofen API plant in China and is in a joint venture with the Chinese company Biocause. However, on a global scale, German company BASF is also one of the largest manufacturers of ibuprofen.
Ibuprofen observes major usage when in combination with the drug Combiflam. Combiflam is also produced by the same market players. Doctors across the globe recommend this combination in case of acute pain such as that of tooth, stomach or post-surgical traumas.
Market Dynamics In The Ibuprofen Industry
The ibuprofen market can be segmented into tablets, capsule, IV, suspension, and others. The price of Combiflam and its manufacturing rate has a direct impact on the market of Ibuprofen as many end-users find Combiflam as an alternative to the former. Growing competition among pain-relief drugs is shrinking the profit margins of ibuprofen across the developing and developed economies. This has restricted companies from increasing the selling price even in case of expensive raw materials. Globally, the rate of ibuprofen is decided by a few selected vendors as they control the supply of API to all manufacturing players.
The amount of demand and the growth in the region-wise disposable income decides the expansion of ibuprofen across the world. Currently, Cumberland Pharmaceuticals Inc. is identified as one of the largest manufacturers of IV ibuprofen. Many companies are collaborating with regional/local drug companies in order to target more number of people across international boundaries.
Other than the already established uses and applications of ibuprofen, more research is underway which aims at diversifying the areas of its use. According to research, cancer can be treated with active and regular consumption of ibuprofen. Similar studies have also shown that having a regular dosage of this drug may delay the onset of Alzheimer’s disease.