The demand within the global ibuprofen API market is slated to increase at a stupendous pace in the times to follow. Active pharmaceutical ingredient (API) industry is witnessing a sharp decline in supply and demand during the COVID-19 outbreak. Ibuprofen API will witness a downfall in demand, owing to halted productions by major manufacturers, as suggested by a new Future Market Insights (FMI) report. Continuous demand for low-cost non-steroidal anti-inflammatory drugs (NSAIDs), and scale of manufacturing facilities remain the key drivers for global Ibuprofen market that has been projected to witness around 1.3X expansion in revenues during 2020-2029.
Emergence of cost-effective drug manufacturers in Asia, coupled with increasing API drug shortages, are further driving ibuprofen API market growth. Moreover, with China being the global manufacturing hub, is severely affected by the pandemic induced travel restrictions and lockdowns, eventually resulting in supply chain disruptions. The effects of COVID-19 are collectively resulting in a decline in sales. The downtrend is expected to prevail till the pandemic subsides.
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Global Ibuprofen API Market: Key Trends
The use of ibuprofen for maternal care has also created new opportunities for growth across the global ibuprofen API market. The relieving effect of ibuprofen in patients suffering from rheumatoid arthritis and menstrual pain has led to the popularity of the product. The medical industry has been upfront in promoting the usage of ibuprofen API across hospitals and healthcare units. Furthermore, the ability of ibuprofen to close a particular ductus in new-born babies has also unplugged growth across the global market. Sale of ibuprofen has become easier due to reforms in drug sale laws across several countries and regions.
Contract Manufacturing Organizations (CMOs) will remain the primary end-use segment, owing to high reliance from prominent pharmaceutical companies for manufacturing APIs as well as final formulations. Furthermore, the integration of CMOs into the supply chain of pharmaceutical companies is gradually gaining traction, propelling the demand.
North America is currently the leading regional market for Ibuprofen API. The dominance is attributed to the strong presence of leading manufacturers, coupled with high adoption of non-steroidal anti-inflammatory drugs (NSAID). However, the region will end up shrinking its global market share owing to Asia’s proliferation.
Asian market is forecasted to grow at a promising rate and bestow lucrative opportunities for players in the ibuprofen API market. The growth is primarily attributed to the availability of cheap labor adequate raw materials. Moreover, with conducive regulatory environments being set up across manufacturing facilities, coupled with reduced taxation policies are fueling growth. China and India being leading regions, contribute to 80% of total anti-inflammatory APIs manufactured. This facet is further spurring market players to leverage the demand in the region. However, the pandemic is likely to hinder the swift growth of the market.
For information on the research approach used in the report, request methodology@ https://www.futuremarketinsights.com/askus/rep-gb-11260
End-use Industries: Contract Manufacturing Organizations and Pharmaceutical Companies
Regions: North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA
Capacity Expansion, and Strategic Mergers & Acquisitions to Widen Regional Presence
Leading players in ibuprofen API market – SI Group, Inc., BASF SE, Hubei Biocause Phamaceutical Co., Ltd. (BIOCAUSE Inc.), IOL Chemicals, Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd., and Solara Active Pharma Sciences Limited – are focusing on business expansions by mergers, joint ventures, distribution agreements and capturing the untapped potential of the Ibuprofen API market.
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