Global Aspirin Market – Industry Trends and Forecast to 2030

Aspirin Market Analysis and Size

Aspirin can be used in the prevention of various other diseases such as cancer, diabetes, cryptococcal infection and nervous system disorders because the drug shows its effect on COX dependent and independent mechanism. The healthcare providers faces the problem to which age group the aspirin should be recommended or it should be prescribed for primary prevention of heart attack and stroke. The developments in the use of aspirin such as cardinal health have formulated a hydrogel in which aspirin was used as additives. The novel formulations in which aspirin is also used as a component can increase the market growth of aspirin.                             

Data Bridge Market Research analyses that the aspirin market is expected to undergo a CAGR of 3.10% during the forecast period. “Oral” dominates the route of administration segment of the aspirin market owing to the rising cardiac disorders among the population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Aspirin Market Scope and Segmentation

Market Definition

Aspirin also known as acetylsalicylic acid which is mostly use as antipyretic,analgesic and anti-coagulant and is clinically used by the population over 100 years. It is also used in the prevention of cardiovascular disease. It is a cyclooxygenase (COX-1) inhibitor and can modify the enzymatic activity of cyclooxygenase-2 (COX-2). It irreversibly binds with this enzyme and also blocks the thromboxane A2 on platelet therefore, preventing the platelet aggregation.

Aspirin Market Dynamics

Drivers

• Increasing prevalence of cardiovascular diseases

Heart attacks and strokes are two common cardiovascular disorders that aspirin is frequently used to treat and prevent. Aspirin is becoming more and more popular as a therapy option and a preventive measure as these disorders become more prevalent globally. Thus increase in the incidence rates of cardiac diseases is acting as driver for the market growth.

• Technological advancements in drug delivery systems

The creation of aspirin formulations with a variable release time has been made possible by technological developments in drug delivery systems. These aspirin formulations offer controlled aspirin release, enabling once-daily dosing and possibly minimising gastrointestinal adverse effects. These developments improve patient adherence and support the expansion of the aspirin market.

• Rising geriatric population

As the global population ages, age-related illnesses including cardiovascular disease and arthritis are becoming more common. Since aspirin is frequently used to treat these problems. Henceforth, growing ageing population across the globe demonstrates the future growth of the market.

Opportunities

• Increasing R&D activities

Aspirin is being used in innovative ways that go beyond its conventional uses thanks to ongoing research and clinical trials. Aspirin's potential for preventing cancer, especially colorectal cancer, and its function in reducing the risk of preeclampsia in expectant women are receiving more attention. These potential uses can create new aspirin market niches and possibilities if they are further validated.

• Increasing strategic collaborations and partnership

Innovation, research acceleration, and market penetration can all be improved by partnerships between pharmaceutical corporations, academic institutions, and healthcare organisations. Partnerships open up chances for market expansion by promoting the creation of novel formulations, combination medicines, and a wider geographic reach.

Restrains/ Challenges

• Availability of alternative therapies

The demand for aspirin may be affected by the availability of complementary medicines, such as other nonsteroidal anti-inflammatory medications (NSAIDs) and pain management choices. In order to prevent the aspirin market from expanding too much, patients and medical professionals may decide to use other drugs or therapies based on their efficacy, safety profile, patient preferences, and cost-effectiveness.

• Safety concerns and adverse effects

Although aspirin is typically well accepted, it can have unwanted consequences such gastrointestinal bleeding, ulcers, and a higher risk of bleeding. Some people may choose not to use aspirin or limit its long-term use due to these safety worries and side effects related to its use. Both people and medical professionals may be influenced by the possible dangers and side effects while making decisions.  Thus, safety concerns and adverse effects may hamper the market growth.

• Strict regulatory framework

Like all medications, aspirin is subject to tight regulatory standards and limitations on labelling. For consumers, these regulations guarantee safety, efficacy, and accurate information. However, aspirin producers may experience operational and financial difficulties as a result of complying with constantly changing laws and label changes. Thus it is predicted that strict regulations is the major key challenge for the future growth of the market.

This aspirin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the biomarkers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• Bayer announced in December 2021, that it will deploy €100 million to enable more sustainable research, manufacture, and utilization of its Consumer Health supplements, which include global names including Aspirin, Bepanthen, Claritin, and Elevit.

Global Aspirin Market Scope

The aspirin market is segmented on the basis of route of administration, dosage form, applications, dose type, availability, product type, end-user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Route of administration

• Oral
• Rectal
• Parenteral

Dosage form

• Tablets
• Effervescent
• Chewable
• Film Coated
• Extended release
• Delayed release
• Enteric coated tablets
• Capsules
• Extended release
• Injections
• Intravenous injections
• Suppositories

Applications

• Pain
• Fever and inflammation
• Deep vein thrombosis
• Others

Dose type

• Adult dose
• Pediatric dose

Availability

• Prescription
• OTC

Product type

• Alone
• Combination products

End user

• Hospitals
• Clinics
• Others

Distribution Channel

• Hospital pharmacies
• Online pharmacies
• Retail pharmacies

Aspirin Market Regional Analysis/Insights

Global aspirin market is analysed and market size information is provided by country, route of administration, dosage form, applications, dose type, availability, end-user and distribution channel as referenced above.

The countries covered in the aspirin market report are the U.S., Canada, Mexico in North America, Brazil, Argentina, Peru, Rest of South America, as part of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa, as a part of Middle East and Africa.

Asia-Pacific  is expected to dominate the market due to the low cost and increase in government support. Europe is expected to grow owing the increased number of cases of migraine.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The aspirin market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for aspirin market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the aspirin market. The data is available for historic period 2010-2021.

Competitive Landscape and Aspirin Market Share Analysis

The aspirin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to aspirin market.

Some of the major players operating in the aspirin market are:

• Bayer AG (Germany)
• Globalimporter Inc. (China)
• Allegiant Health (U.S.)
• Par Pharmaceutical (U.S.)
• Anastacio Chemistry (Brazil)
• Cardinal Health (U.S.)
• Nanjing pharmatechs  Co, ltd. (China)
• JQC (Huayin) Pharmaceutical Co., Ltd. (China)
• LNK International, Inc. (U.S.)
• Globela Pharma Pvt Ltd (India)
• Bal Pharma Limited (India)
• Trumac Healthcare (India)
• Perrigo Company plc (Ireland)
• Alta Laboratories Ltd (India)
• Zhenjiang Gaopeng Pharmaceutical CO,.Ltd (China)
• Seqens (France)
• Umang Pharmatech Pvt. Ltd. (India)
• J.M. Loveridge Ltd (U.K.)
• Mayne Pharma Group Limited (Australia)
• St. Joseph's Aspirin (U.S.)

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