With a CAGR of roughly 2.70 percent between 2023 and 2030, the global aspirin market is expected to increase from a value of about USD 2356.55 million in 2022 to about USD 2917.59 million by 2030.
Since aspirin exerts its anti-inflammatory effects via both a COX-dependent and -independent mechanism, it can also be utilized to ward off cancer, diabetes, cryptococcal infection, and nervous system illnesses. Medical professionals struggle with deciding who should be given aspirin for primary prevention of cardiovascular disease. Cardinal Health, a leader in the aspirin industry, has developed a hydrogel that incorporates the drug. Aspirin’s market growth can be stimulated by the introduction of new formulations that include the drug.
Aspirin, or acetylsalicylic acid, has been used clinically for more than a century to treat fever, pain, and blood clots. It’s also utilized to keep the heart healthy and stave off cardiovascular issues. As an inhibitor of cyclooxygenase-1 (COX-1), it also affects cyclooxygenase-2 (COX-2). It prevents platelet aggregation by binding irreversibly with this enzyme and blocking platelet thromboxane A2.
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Market Drivers
- Aspirin is commonly used to treat and prevent cardiovascular problems like heart attacks and strokes. As the prevalence of these diseases increases around the world, aspirin’s use as both a treatment and preventative tool is gaining popularity. As a result, the rising prevalence of heart disease is fueling the industry.
- Technological advancements in drug delivery methods have allowed for the introduction of time-release aspirin formulations. These aspirin formulations provide controlled aspirin release, which allows for once-daily dose and may reduce gastrointestinal side effects. These advancements boost patients’ willingness to take aspirin and fuel the industry’s growth.
- Heart disease, arthritis, and other age-related ailments are on the rise as the world’s population ages. Given that aspirin is often prescribed for such conditions. Consequently, the market’s continued expansion is evidenced by the world’s aging population.
- The ongoing research and clinical trials into aspirin have led to novel applications of the drug beyond its traditional scope of use. More and more people are learning about the benefits of aspirin for cancer prevention, particularly colorectal cancer, and its role in lowering the incidence of preeclampsia in pregnant women. If these applications are confirmed, they could open up fresh markets for aspirin and open up new avenues for its use.
- Partnerships between the pharmaceutical industry, academic institutions, and healthcare organizations can accelerate innovation, deepen research, and expand market reach. In addition to fostering the development of novel formulations and combination medications, partnerships also increase the potential for expanding the market’s geographical reach.
Markets for aspirin are broken down around the world by end use, product, and geographic region.
The global market has been separated down into pain/fever/inflammation, cardiovascular disease, and other conditions. Since aspirin’s principal role is to cure mild to moderate bodily aches and headaches, the pain/fever/inflammation category saw the biggest rise in 2022. An oral dose of 300–650 milligrams (mg) is recommended. Aspirin, on the other hand, has been shown to be quite useful in the treatment of cardiovascular disorders. Only take it at your doctor’s advice, because it has been shown to lower the risk of atherothrombosis.
The aspirin market can be broken down into two distinct sectors: OTC and prescription. The rising prevalence of ordinary ailments like the common cold and the flu drove the largest demand for OTC varieties in 2022. Increasing sales of medicine through online sales channels and an increase in the availability of common medicines like aspirin also contributed to sector growth. For people who have additional medical disorders, such as diabetes or heart disease, doctors will often prescribe aspirin after a thorough examination. Within 20 to 30 minutes after taking aspirin, you’ll feel its effects.
The global aspirin market is led by players like:
- Allegiant Health
- Bayer AG
- Bal Pharma Limited
- Globalimporter Inc.
- JQC (Huayin) Pharmaceutical Co. Ltd.
- Cardinal Health
- Par Pharmaceutical
- Industria Quimica Andina Y Cia Sa
- Perrigo Company plc.
- Nanjing pharmaceutical factory Co. ltd.
- Trumac Healthcare
- Globela Pharma Pvt Ltd
- LNK International Inc.
Aspirin Market Regional Analysis
Asia-Pacific is predicted to have the fastest aspirin market growth due to its strong pharmaceutical sector, notably in China and India. These countries produce the most Active Pharmaceutical Ingredients (APIs) for drug makers worldwide. Aspirin sales are higher in Asia because to its large population. These heavily populated areas spread dangerous diseases like colds and flu faster. Pharmacies selling OTC medications like aspirin are growing rapidly. Regional market growth may be driven by rising cardiovascular disease cases, healthcare spending, and pharma industry investments. Under the production-linked incentive (PLI) scheme, the Indian government approved an INR 6000 crore pharma industry investment in September 2023.
