DUBLIN–(BUSINESS WIRE)–The report “Global Aspirin Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.

The global aspirin market size is estimated to grow at a CAGR of 2.40%, from US$2.167 billion in 2020 to US$2.558 billion by 2027.

The growing industry of active pharmaceutical ingredients will help propel the growth of the market for acetylsalicylic acid as an active ingredient in drug formulations. China, from APAC region, is estimated to hold a major market share in the global API industry. The increase in the retail sector, along with the boom in e-commerce sales propagates the growth of the market over the forecast period.

The presence of companies offering acetylsalicylic acid products propagates the growth of the market over the forecast period.

Bayer aspirin has been an essential medicine for over 100 years. It helps relieve pain and prevent cardiovascular events and has stood the test of time. In brand form, AspirinT is among the highly trusted products of a range of customers worldwide over any other over-the-counter pain reducing medication. Based on its analgesic and antiplatelet effects, aspirin is listed as one of the essential medicines by the World Health Organization.

The Company’s product portfolio includes Aspirin and Cardio Aspirin as products. Aspirin T falls under the category of consumer health and pharmaceuticals. Aspirin Cardio is designed explicitly for cardiology applications. With the increasing number of cardiovascular diseases, aspirin is prescribed for anticoagulant applications. A doctor may prescribe low-dose aspirin for the prevention of blood clots. This further helps in reducing the risk of stroke and heart attack. A patient who has undergone surgery for the treatment of clogged arteries, including bypass surgery or surgery for a stenting procedure, is primarily prescribed aspirin in the form of blood thinners to prevent blood clots. On the other hand, consumer health aspirin includes the following applications, namely headache, body pain, muscle pain and fever.

The growing demand for branded generics will continue to propagate market growth over the forecast period.

The global branded generics market is expected to grow over the forecast period with FDA marketing approval of several generic drugs in 2019. Hence, this will continue to bolster the market growth over the forecast period . Generic drugs are comparatively cheaper than branded products; therefore, poorer countries where people cannot afford expensive medical treatments are not able to buy branded drugs that come with treatment costs after treatment. Thus, generic versions of aspirin will continue to drive market growth over the forecast period. According to the USFDA, generic drugs are about 80-85% less expensive than branded versions.

Hence, these drugs play an important role in providing cost-effective healthcare, further contributing to their increasing usage over time across the globe. According to prescription audit statistics, generic drugs account for more than 80% of total prescribed drugs in the US, UK, China and Australia (source: NIH, 2018).

The prevalence of headaches globally will fuel the market demand for painkillers, further augmenting the market growth over the forecast period.

According to the World Health Organization, headaches are the most common disorders of the nervous system. Most adults frequently suffer from headaches. One of the main reasons today can be attributed to changing living conditions where there is strong competition between people in all aspects of their lives, be it raising children, choosing a career and striving to excel in any field they choose. Consequently, it created more tension, thus increasing the stress level.

The demand for pain relievers is gaining momentum with the changing lifestyle of the consumers, further offering strong market growth prospects over the forecast period for immediate pain relief. One of the most widely consumed drugs containing aspirin as an active ingredient is disprin. The product is now also available in different new variants, one of which includes Disprin Direct.

Segmentation: By product

By app

  • Heart disease

  • Pain/Fever/Inflammation

By distribution channel

  • Hospital and retail pharmacies

  • Online channels

By geography

  • North America

  • UNITED STATES

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Europe

  • UK

  • Germany

  • France

  • Middle East and Africa

  • United Arab Emirates

  • Israel

  • Saudi Arabia

  • Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Vietnam

  • Indonesia

  • Australia

Main topics covered:

1. Introduction

2. Research methodology

3. Executive Summary

4. Market dynamics

5. Global Aspirin Market Analysis, By Product

6. Global Aspirin Market Analysis, By Application

7. Global Aspirin Market Analysis, By Distribution Channel

8. Global Aspirin Market Analysis, By Geography

9. Competitive environment and analysis

10. Company Profiles

Companies cited

  • Bayer AG

  • Hebei Jingye Chemical Co., Ltd.

  • JQC (Huayin) Pharmaceutical Co., Ltd.

  • Perrigo Company plc

  • LNK International Inc.

  • Thermo Fisher Scientific

  • Taj Pharmaceuticals Limited

  • Advance Pharmaceutical Inc.

  • Allegiant Health

  • KE

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