Ibuprofen API Market is estimated to progress at a CAGR of 3% through 2029
According to the findings of a new Future Market Insights (FMI) report, the global Ibuprofen API Market crossed US$ 626.2 Million in 2022 and is expected to grow at a CAGR of 3% to reach US$ 772.2 Million by 2029. The key drivers of the Ibuprofen API market are the ongoing need for low-cost nonsteroidal anti-inflammatory medicines (NSAID) as well as the size and age of manufacturing facilities.
Increasing API drug shortages and the formation of a task force to address these issues, as well as the rise of cost-effective drug manufacturers in various countries and the supply of API drugs, mainly in developing nations, are all driving expansion in the ibuprofen API market.
The pharmaceutical API sector is experiencing a significant supply and demand constraint for Ibuprofen API, with major ibuprofen API producers halting output and a supply chain disruption in China exacerbated by decreased sales in India.
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The volatility in Ibuprofen API is caused by factors such as a smaller number of competitors, a lower utilisation ratio, a lower margin level, new higher-value opportunities in complex combinations and high-grade API, the pace of FDA facility inspections, and ramping up production capacity through mergers and consolidation.
The global prevalence of a wide range of diseases, particularly cardiovascular disease, infectious diseases, diabetes, and kidney-related problems, is significant. As a result, the increasing frequency of a wide range of diseases among all age groups, as well as their global burden, pushes the demand for medication development and its market.
For better drug candidate identification, there has been an increase in the use of modern technologies such as high throughput, bioinformatics, and combinatorial chemistry. With increasing technologies, drug development has developed substantially, allowing the process to become more sophisticated, accurate, and time-consuming. High-throughput screening is one of the most extensively utilised drug discovery technologies due to automation, multi-detector readers, imaging gear, and software.
Leading Companies Profiled in Ibuprofen API Market are
- BASF SE
- BIOCAUSE Inc.
- IOL Chemicals and Pharmaceuticals Limited
- SI Group, Inc.
- Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd.
- Solara Active Pharma Sciences Limited
- Granules India Limited
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Key Takeaways of Ibuprofen API Market Study
- Up-scaling is the main strategy stated for fulfilling demand in the Ibuprofen API sector, with a greater emphasis on relieving pressure on the supply chain due to the demand gap.
- The majority of anti-inflammatory medications are produced in Asia, particularly in China and India. Approximately 80% of all anti-inflammatory APIs are created in India and China, with the majority of these APIs being outsourced to other developed nations such as North America and Europe.
- Ibuprofen API’s high upfront cost and low margin level have resulted in a 20-30% price increase in final medicine formulations and reduced sales in the previous year.
- The Ibuprofen API industry is highly consolidated, with top producers controlling around 90% of the market value. As a result, the increased interest of CMOs and large-scale API makers is expected to drive the ibuprofen API market’s value generation.
- Contract Manufacturing Organizations are predicted to produce considerable income pockets because to their higher volume handling in contrast to pharmaceutical firms, as well as their higher manufacturing capabilities and price advantage over pharmaceutical organisations.
- The growing patient pool taking non-controlled medications like OTC is also driving the increase in in-house ibuprofen API consumption in South and East Asia.
Lower labour cost and abundant availability of raw materials required for ibuprofen API are among the key factors fuelling the growth of the ibuprofen API market in South Asia. In addition, favourable regulatory support to establish ibuprofen API manufacturing businesses, and lower taxation policies are boosting the growth of the East and South Asia ibuprofen API market.
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Capacity Expansion, and Strategic Mergers & Acquisitions to Widen Regional Presence
Leading players in the ibuprofen API market – SI Group, Inc., BASF SE, Hubei Biocause Pharmaceutical 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.
- IOL Chemicals, the largest Indian Ibuprofen API manufacturer, increased its manufacturing capacity to 12000 MT in 2018 from 7500 MT previously. IOL Chemicals is covering the demand-supply gap that is widening as a result of China’s strict regulatory reform. This decision may benefit Indian firms trying to expand their presence in the Ibuprofen API market.
- Solara Active Pharma Sciences Limited acquired Strides and Sequent’s Ibuprofen API assets in 2018, allowing the company to capture a portfolio of specialist niches of the Ibuprofen API industry.
- Granules India Ltd (GIL) and Hubei Biocause Heilen Pharmaceutical Co. Ltd. have a manufacturing facility in Jingmen, China. According to a recent debate, Granules India Ltd (GIL) intends to exit the joint venture.
Additionally, current acquisitions are focused on capacity expansion, and manufacturing capabilities of existing Ibuprofen API players to gain competitiveness and accelerate revenue growth in the market landscape.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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