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Drug Price Trends for SM IBUPROFEN IB
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Average Pharmacy Cost for SM IBUPROFEN IB
Drug Name | NDC | Price/Unit ($) | Unit | Date |
---|---|---|---|---|
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.13850 | EACH | 2025-01-22 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.13978 | EACH | 2024-12-18 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.13728 | EACH | 2024-11-20 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.14016 | EACH | 2024-10-23 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.14401 | EACH | 2024-09-18 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.14141 | EACH | 2024-08-21 |
SM IBUPROFEN IB 100 MG CHEW TB | 70677-0072-01 | 0.13946 | EACH | 2024-07-17 |
>Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Global Ibuprofen Market Analysis and Price Projections
Market Overview
The global ibuprofen market is poised for significant growth, driven by several key factors including rising urbanization, increasing public awareness of chronic diseases, and growing healthcare expenditures.
- Market Size and Growth: As of 2023, the global ibuprofen market was valued at USD 1.43 billion and is projected to reach USD 1.76 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.44% during the forecast period of 2024-2032[1].
- Alternative Projections: Other reports suggest slightly different figures, with the market valued at USD 121.6 million in 2024 and expected to grow to USD 215.24 million by 2031 at a CAGR of 8.50%[4].
Regional Market Analysis
The ibuprofen market is segmented into several regions, each with its own growth prospects.
- Asia Pacific: This region is the largest market shareholder and is expected to expand substantially due to cost-efficient manufacturing, particularly in countries like China and India. The region's healthcare expenditures are rising, with significant growth in the aging population, especially in India[1].
- North America: This region is the fastest-growing market, driven by the widespread adoption of over-the-counter (OTC) medications and the trend towards self-medication. North America held over 40% of the global revenue in 2024, with a market size of USD 48.64 million and a CAGR of 6.7% from 2024 to 2031[4].
- Europe: Europe holds around 30% of the global revenue, with a market size of USD 36.48 million in 2024 and a CAGR of 7.0% from 2024 to 2031[4].
- Latin America and Middle East & Africa: These regions also show promising growth, with Latin America expected to grow at a CAGR of 7.9% and the Middle East & Africa at a CAGR of 8.2% from 2024 to 2031[4].
Application Segments
The ibuprofen market is segmented based on various applications.
- Rheumatoid Arthritis and Osteoarthritis: These conditions dominate the revenue share due to ibuprofen's potent analgesic and anti-inflammatory properties. Rheumatoid arthritis and osteoarthritis affect millions worldwide, making ibuprofen a favored option for managing associated pain and inflammation[1][3].
- Pain/Fever/Dysmenorrhea: Ibuprofen is widely used for pain relief, fever reduction, and dysmenorrhea, contributing significantly to its market growth.
- Inflammatory Diseases and Headache: Other applications include inflammatory diseases and headache management, further diversifying the market[1][3].
End-User Segments
The market is also segmented based on end-users.
- Pharmaceutical and Biopharmaceutical Companies: These companies hold the highest market share due to the increasing development of ibuprofen API. Government investments in the pharmaceutical industry and the safety, efficacy, and therapeutic capabilities of biopharmaceutical products drive this segment[1].
Distribution Channels
The distribution of ibuprofen is categorized into several channels.
- Hospital Pharmacies: These are traditional distribution channels but are seeing a shift towards retail and online pharmacies.
- Retail Pharmacies: Retail pharmacies are a significant distribution channel, offering convenience and easy access to consumers.
- Online Pharmacies: The rise of online pharmacies is empowering consumers to manage their health independently, boosting ibuprofen sales[3][4].
Price Projections and Trends
The pricing of ibuprofen varies based on the form and quantity of the drug.
- Tablets and Capsules: The cost for ibuprofen tablets can range from $0.03 to $0.49 per unit, depending on the quantity and dosage. For example, a supply of 6 tablets of 800 mg ibuprofen can cost around $11[2].
- Intravenous Solution: The intravenous solution of ibuprofen is more expensive, with prices starting from $1,061.38 for 6 milliliters[2].
- Price Increases: Effective April 1, 2024, the National Pharmaceutical Pricing Authority (NPPA) announced a price increase for prescription drugs, including ibuprofen, by 0.00551 percent[1].
Market Drivers
Several factors are driving the growth of the ibuprofen market.
- Rising Geriatric Population: The increasing aging population, particularly in regions like Asia Pacific, is a significant driver. For instance, India is expected to see its elderly population rise from 137.9 million in 2021 to 193.8 million by 2031[1].
- Chronic Diseases: The surge in prevalence of chronic diseases such as rheumatoid arthritis, osteoarthritis, and cardiovascular diseases is another key driver[1][3].
- Self-Medication Trend: The growing trend towards self-medication and the easy availability of OTC ibuprofen are boosting market growth. Consumers increasingly prefer OTC pain relief solutions for minor ailments, reducing the need for medical consultations[4].
Challenges and Opportunities
While the market is growing, there are challenges and opportunities to consider.
- Regulatory Changes: Price increases and regulatory changes, such as those announced by the NPPA, can impact market dynamics[1].
- Competition: The market is competitive, with various brands and generic versions available. Brands like Advil, Motrin IB, and Advil Liqui-Gels dominate the market[2].
- Innovations: Biopharmaceutical companies are innovating, combining safety, efficacy, and therapeutic capabilities, which presents opportunities for growth[1].
Key Takeaways
- The global ibuprofen market is expected to grow significantly, driven by factors such as rising urbanization, increasing healthcare expenditures, and the growing trend towards self-medication.
- Asia Pacific is the largest market shareholder, while North America is the fastest-growing region.
- Rheumatoid arthritis and osteoarthritis are the dominant application segments.
- Pharmaceutical and biopharmaceutical companies hold the highest market share among end-users.
- Price trends vary based on the form and quantity of the drug, with tablets being the most common and cost-effective option.
FAQs
Q: What is the current size of the global ibuprofen market? A: The global ibuprofen market was valued at USD 1.43 billion in 2023[1].
Q: What is the projected growth rate of the ibuprofen market? A: The market is expected to grow at a CAGR of 2.44% from 2024 to 2032[1].
Q: Which region dominates the ibuprofen market? A: Asia Pacific is the largest market shareholder and is expected to expand substantially during the forecast period[1].
Q: What are the primary applications of ibuprofen? A: Rheumatoid arthritis and osteoarthritis are the dominant application segments due to ibuprofen's analgesic and anti-inflammatory properties[1][3].
Q: How is the trend towards self-medication impacting the ibuprofen market? A: The trend towards self-medication is significantly boosting the market, as consumers increasingly prefer OTC pain relief solutions for minor ailments[4].
Cited Sources
- Straits Research: Global Ibuprofen Market Size, Top Share, CAGR of 2.44%, Report.
- Drugs.com: Ibuprofen Prices, Coupons, Copay Cards & Patient Assistance.
- PR Newswire: Ibuprofen Market to Reach $213.6 Million, Globally, by 2033 at 7.9% CAGR.
- Cognitive Market Research: Global Ibuprofen Market Report 2024 Edition.
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