Drug Price Trends for GS IBUPROFEN

Average Pharmacy Cost for GS IBUPROFEN

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
GS IBUPROFEN 200 MG CAPLET	00113-0517-71	0.03475	EACH	2024-12-18
GS IBUPROFEN 200 MG CAPLET	00113-0647-71	0.03475	EACH	2024-12-18
GS IBUPROFEN 200 MG CAPLET	00113-0647-78	0.03475	EACH	2024-12-18
GS IBUPROFEN 200 MG CAPLET	00113-0647-62	0.03475	EACH	2024-12-18
GS IBUPROFEN PM CAPLET	00113-0050-60	0.12258	EACH	2024-12-18

GS IBUPROFEN Market Analysis and Financial Projection

Market Analysis and Price Projections for Ibuprofen

Introduction to Ibuprofen

Ibuprofen, a widely used nonsteroidal anti-inflammatory drug (NSAID), is a staple in many households and medical facilities around the world. It is utilized to treat a variety of conditions, including pain, fever, and inflammation. Here’s a comprehensive analysis of the ibuprofen market, including its current state, growth projections, and the factors influencing its prices.

Global Ibuprofen Market Size and Growth

The global ibuprofen market is substantial and growing. As of 2023, the ibuprofen API market was valued at approximately USD 700.8 million and is expected to grow at a compound annual growth rate (CAGR) of 1.17% from 2024 to 2030[1].

In terms of the broader ibuprofen market, it was valued at $100.0 million in 2023 and is projected to reach $213.6 million by 2033, growing at a CAGR of 7.9% from 2024 to 2033[3].

Key Drivers of Market Growth

Several factors are driving the growth of the ibuprofen market:

• Increasing Prevalence of Chronic Diseases: Conditions such as rheumatoid arthritis, osteoarthritis, and migraines are becoming more prevalent, leading to higher demand for ibuprofen. For instance, rheumatoid arthritis affects about 1% of the population in India, impacting around 1 million people[1].
• Growing Geriatric Population: The aging population is more prone to chronic diseases, which in turn increases the demand for pain relief medications like ibuprofen.
• Rising Healthcare Spending: Increased healthcare expenditure, particularly in regions like the Asia Pacific, is boosting the market for ibuprofen[5].

Regional Market Analysis

Asia Pacific (APAC) Market

The APAC region is expected to generate the highest share of the ibuprofen API market, driven by low manufacturing costs in countries like India and China. The region has seen a significant rise in health expenditure, with healthcare costs increasing from an average of over 5% in 2020 to approximately 11% in 2023[5].

North American Market

In North America, the market is influenced by factors such as increasing healthcare spending and a growing geriatric population. However, the region is also facing challenges like supply chain disruptions and price hikes, which are affecting the availability and cost of ibuprofen[2].

Price Projections and Current Trends

Recent Price Surges

Ibuprofen prices have surged significantly in recent months. As of October 2024, the average wholesale price of ibuprofen has jumped by 15% since September, with retailers passing these costs on to consumers. This increase is attributed to manufacturing setbacks, raw material shortages, and transportation bottlenecks, particularly in key production regions like India and China[2].

Impact of Supply Chain Disruptions

Supply chain issues, including delays at major Asian ports and a dockworkers' strike in the U.S., are exacerbating the situation. These disruptions have halted approximately half of the nation's ocean shipping operations, affecting product availability and delivery times[2].

Raw Material Costs

The cost of raw materials, such as propionic acid, has also increased. In China, a 2.9% price increase in propionic acid has been reported, further elevating production costs for ibuprofen[2].

Future Price Pressures

• Weather Forecasts: Harsh weather conditions in key manufacturing regions could further strain production capacity and lead to additional price pressures through November 2024[2].
• Energy Costs: Increasing energy costs in major manufacturing hubs are expected to push prices even higher[2].
• Labor Actions: The ongoing dockworkers' strike in the U.S. is likely to have a lasting impact on supply chains, affecting product availability and consumer prices during the crucial holiday season[2].

Market Segments and Applications

The ibuprofen market is segmented based on type (tablets, capsules, syrups, injections, and others), application (rheumatoid arthritis and osteoarthritis, cancer, pain/fever/dysmenorrhea, inflammatory diseases, headache, and others), and distribution channels (hospital pharmacies, retail pharmacies, and online pharmacies)[3].

Conclusion

The ibuprofen market is poised for growth driven by increasing demand for pain relief medications, rising healthcare spending, and a growing geriatric population. However, the market is currently facing significant challenges due to supply chain disruptions, raw material shortages, and increasing production costs.

"The supply chain crisis has reached a new critical point with the first major dockworkers' strike in nearly 50 years hitting the U.S. East and Gulf Coasts which will further impact the Ibuprofen and other commodity prices." - ChemAnalyst[2]

Key Takeaways

• The global ibuprofen API market was valued at USD 700.8 million in 2023 and is expected to grow at a CAGR of 1.17% from 2024 to 2030.
• The broader ibuprofen market is projected to reach $213.6 million by 2033, growing at a CAGR of 7.9% from 2024 to 2033.
• Supply chain disruptions, raw material shortages, and increasing production costs are driving up ibuprofen prices.
• The Asia Pacific region is expected to dominate the ibuprofen API market due to low manufacturing costs and rising health expenditure.
• Future price pressures are anticipated due to weather forecasts, energy costs, and labor actions.

FAQs

Q: What is the current size of the global ibuprofen API market? A: The global ibuprofen API market was valued at approximately USD 700.8 million in 2023[1].

Q: What is the projected growth rate of the ibuprofen market from 2024 to 2033? A: The broader ibuprofen market is expected to grow at a CAGR of 7.9% from 2024 to 2033[3].

Q: What are the main factors driving the growth of the ibuprofen market? A: The main drivers include the increasing prevalence of chronic diseases, a growing geriatric population, and rising healthcare spending[1][3].

Q: Why have ibuprofen prices surged recently? A: Recent price surges are due to manufacturing setbacks, raw material shortages, transportation bottlenecks, and other supply chain disruptions[2].

Q: How will the dockworkers' strike in the U.S. affect ibuprofen prices? A: The strike is expected to halt approximately half of the nation's ocean shipping operations, affecting product availability, delivery times, and ultimately consumer prices[2].

Sources

1. Grand View Research - Ibuprofen API Market Size, Share & Growth Report, 2030
2. ChemAnalyst - Global Ibuprofen Prices surge in October 2024
3. PR Newswire - Ibuprofen Market to Reach $213.6 Million, Globally, by 2033 at 7.9% CAGR
4. Verified Market Research - Ibuprofen Market Size, Share, Scope, Trends, Growth & Forecast
5. Research Nester - Ibuprofen API Market Size & Share, Growth Trends 2037