Aspirin Global Market Report 2024

“Aspirin Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on aspirin market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for aspirin? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aspirin market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product: Prescription; OTC
• 2) By Route Of Administration: Oral; Rectal; Parenteral
• 3) By Dosage Form: Tablets; Capsules; Injections; Suppositories
• 4) By Application: Cardiovascular Disease; Pain, Fever, O Inflammation; Other Applications
• 5) By End User: Hospitals; Clinics; Other End Users
• Companies Mentioned: Bayer AG; Allegiant Health; Par Pharmaceutical; Cardinal Health Inc.; Nanjing pharmaceutical factory Co. Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Aspirin, also known as acetylsalicylic acid (ASA), is a non-steroidal anti-inflammatory drug used to treat fever and minor aches. It is employed for conditions such as arthritis and to mitigate the risk of issues such as heart attacks and strokes.

There are two primary types of aspirin products such as prescription and over-the-counter (OTC). Prescription drugs can only be obtained with a certified physician's prescription. As for the route of administration, aspirin comes in oral, rectal, and parenteral forms. Various dosage forms include tablets, capsules, injections, and suppositories. Aspirin finds applications in diverse areas, including cardiovascular disease, pain relief, fever reduction, inflammation management, among others. It is utilized by a range of end-users, such as hospitals, clinics, and other healthcare facilities.

The aspirin market research report is one of a series of new reports from The Business Research Company that provides aspirin market statistics, including aspirin industry global market size, regional shares, competitors with a aspirin market share, detailed aspirin market segments, market trends and opportunities, and any further data you may need to thrive in the aspirin industry. This aspirin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aspirin market size has grown steadily in recent years. It will grow from $2.47 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The historic growth of aspirin can be attributed to the demand for pain management and analgesics, increased awareness of cardiovascular health, the anti-inflammatory properties of aspirin, its use in preventive measures for stroke and heart attacks, as well as its role in treating fever, headaches, rheumatic fever, and arthritis.

The aspirin market size is expected to see strong growth in the next few years. It will grow to $3.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The forecasted growth of aspirin in the upcoming period can be attributed to factors such as the rising incidence of chronic diseases, the potential benefits of aspirin in neurological disorders, ongoing innovations in the pharmaceutical industry, increased adoption in developing regions, and the growing popularity of self-care practices. Additionally, major trends in the forecast period include ongoing research on cancer prevention, the development of combination therapies, personalized medicine approaches, customized dosage forms and delivery systems, and the integration of telemedicine and self-care practices.

The ascending prevalence of arthritis is poised to be a driving force propelling the growth of the aspirin market. Arthritis, characterized by joint pain and swelling, commonly requires pain management, and aspirin, a nonsteroidal anti-inflammatory drug, plays a pivotal role in alleviating chronic pain, reducing inflammation, and enhancing joint function. The increasing number of arthritis patients, as reported by the Centers for Disease Control and Prevention (CDC), forecasts a substantial rise from 58.5 million to 78.4 million individuals afflicted by doctor-diagnosed arthritis in the US by 2040. Consequently, this upsurge in arthritis prevalence directly correlates with the heightened utilization of aspirin, thereby fueling the aspirin market's growth.

The substantial burden of cardiovascular diseases globally is anticipated to significantly contribute to the expansion of the aspirin market. Cardiovascular diseases encompass various conditions impacting the heart and blood vessels, and aspirin is commonly recommended as a preventive measure for individuals at risk of heart attacks or strokes. Statistics shared by the CDC revealed a surge in heart disease-related fatalities in the US from 659,041 in 2019 to 695,000 in 2021. Additionally, the American Heart Association reported approximately 19.1 million deaths attributed to cardiovascular diseases globally in January 2022. As aspirin continues to serve as a preventive intervention for such conditions, the prevalence and impact of cardiovascular diseases worldwide serve as key factors driving the aspirin market's growth.

Product innovation emerges as a pivotal trend embraced by major companies within the aspirin market. These companies are introducing pioneering solutions such as VAZALORE liquid-filled aspirin capsules to fortify their market position. For example, PLx Pharma, a US-based specialty pharmaceutical company, launched VAZALORE 325 mg and VAZALORE 81 mg liquid-filled aspirin capsules in August 2021. These capsules represent the first US FDA-approved liquid-filled aspirin capsules, offering benefits in mitigating stomach erosions and ulcers compared to immediate-release aspirin. VAZALORE employs a distinctive delivery method designed to protect the stomach, ensuring aspirin's potentially life-saving properties while facilitating rapid pain relief absorption. Its specialized release mechanism selectively delivers aspirin, preventing direct contact with the stomach and differentiating itself from conventional aspirin formulations. As such, product innovations such as VAZALORE signify a paradigm shift in aspirin delivery methods, catering to both cardiovascular care and pain relief needs.

Major players in the aspirin market are concentrating on pioneering products, notably fixed-dose combinations (FDCs) of aspirin, to broaden their market reach and gain a competitive edge globally. FDCs of aspirin refer to pharmaceutical compositions incorporating a predetermined aspirin dosage alongside other active ingredients. For example, in July 2021, Dr. Reddy's Laboratories, an India-based pharmaceutical entity, introduced Razat Gold in India, an FDC comprising aspirin, rosuvastatin, and clopidogrel. Tailored for high-risk cardiovascular conditions, Razat Gold targets cardiologists, consulting physicians, and diabetologists. Indicated for chronic and stable coronary artery disease and acute coronary syndrome (ACS) patients, the combination harnesses aspirin and clopidogrel's antiplatelet effects alongside rosuvastatin's lipid-lowering properties. Available in two strengths, ROZAT GOLD 10 and ROZAT GOLD 20, this product offers a comprehensive therapeutic approach catering to specific patient needs in post-ACS and stable coronary artery disease scenarios.

In August 2021, Philip Morris International (PMI), Inc., a US-based tobacco company, completed the acquisition of OtiTopic, furthering PMI's strategic objective of diversifying into inhaled therapies and respiratory medication delivery Beyond Nicotine. OtiTopic, a US-based respiratory drug development firm, holds a late-stage inhalable acetylsalicylic acid (ASA) treatment for acute myocardial infarction. The company specializes in an inhaled formulation of aspirin dry powder, aligning with PMI's aim to expand its portfolio and leverage expertise in inhalation technology and respiratory medication. This acquisition reinforces PMI's commitment to advancing innovative solutions beyond traditional tobacco products, emphasizing novel respiratory therapies involving aspirin for acute myocardial infarction management.

Major companies operating in the aspirin market report are Bayer AG, Allegiant Health, Par Pharmaceutical, Cardinal Health Inc., Nanjing pharmaceutical factory Co. Ltd., JQC (Huayin) Pharmaceutical Co. Ltd., LNK International Inc., Bal Pharma Limited, Trumac Healthcare, Perrigo Company PLC, Alta Laboratories Ltd., Zhenjiang Gaopeng Pharmaceutical Co. Ltd., J.M. Loveridge Ltd., Mayne Pharma Group Limited, St. Joseph's Aspirin, Teva Pharmaceutical Industries Ltd, Boehringer Ingelheim International GmbH, Cadila Healthcare Ltd., Cipla Ltd., Dr. Reddy's Laboratories Ltd., GlaxoSmithKline plc, Hetero Labs Ltd., Jubilant Generics Ltd., Lupin Ltd., Merck & Co. Inc., Mylan N.V., Novartis AG, Pfizer Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd

Asia-Pacific was the largest region in the aspirin market in 2023. The regions covered in the aspirin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aspirin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aspirin market consists of sales of capsules, chewable, and coated tablets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.