Introduction
Aspirin, with the NDC code 00536-1054, is a widely used medication for pain relief, fever reduction, and anti-inflammatory purposes. This analysis will delve into the current market state, price trends, and future projections for this specific formulation of aspirin.
Market Overview
The global aspirin market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 2.40% from 2020 to 2027, reaching a market size of US$2.558 billion by 2027 from US$2.167 billion in 2020[5].
Current Pricing
As of December 2024, the price per unit for Aspirin 325 MG tablets, including the NDC code 00536-1054, is approximately $0.01521 per unit. This pricing is consistent across various vendors and distributors[1].
Market Segmentation
The aspirin market is segmented by product, application, distribution channel, and geography.
- Product: Aspirin is available in both prescription and over-the-counter (OTC) forms. The OTC segment dominates the market due to its widespread use for pain, fever, and inflammation[5].
- Application: Aspirin is primarily used for cardiovascular disease, pain/fever/inflammation, and other medical conditions. The prevalence of headaches and cardiovascular diseases globally drives the demand for aspirin[5].
- Distribution Channel: The market is divided into hospital and retail pharmacies, and online channels. Online sales channels are growing rapidly due to increased internet penetration and consumer preference for online shopping, especially during the COVID-19 pandemic[5].
- Geography: The global aspirin market spans across North America, South America, Europe, Middle East and Africa, and Asia Pacific. China is a significant player in the active pharmaceutical ingredient (API) industry, contributing to the global aspirin market growth[5].
Price Trends and Projections
Historical Pricing
The price of aspirin has remained relatively stable over the past few years. For the NDC code 00536-1054, the price per unit has been consistent at around $0.01521 as of the latest data available in December 2024[1].
Future Projections
Given the stable nature of aspirin pricing and the overall market growth, here are some key projections:
- Market Growth: The aspirin market is expected to grow due to increasing demand for analgesics and the expanding retail and e-commerce sectors. This growth is likely to keep prices stable or slightly increase them, but not significantly[5].
- Generic Market Influence: Generic versions of aspirin, which are 80-85% cheaper than branded versions, dominate the market. This competition is likely to keep prices in check and may even lead to slight reductions over time[5].
- Regulatory and Transparency Efforts: Initiatives like the Prescription Drug Price Transparency Program aim to increase transparency and potentially control price increases. While these efforts may not directly impact aspirin prices, they could influence the broader pharmaceutical market and indirectly affect aspirin pricing[2][4].
Factors Influencing Pricing
Several factors can influence the pricing of aspirin:
- Competition: The presence of multiple generic versions of aspirin keeps prices competitive and stable[5].
- Regulatory Changes: Policies aimed at increasing transparency and controlling drug prices could impact the market, although aspirin, being a generic and widely used drug, is less likely to be significantly affected[2][4].
- Economic Conditions: Economic fluctuations and changes in consumer spending habits can influence demand and pricing. However, aspirin is an essential medication, and its demand is less elastic to economic changes[5].
Industry Dynamics
The aspirin market is characterized by:
- Bargaining Power of Suppliers: Moderate, as there are multiple suppliers of aspirin, including major pharmaceutical companies and generic manufacturers[5].
- Bargaining Power of Buyers: High, due to the availability of generic alternatives and the competitive nature of the market[5].
- Threat of New Entrants: Low to moderate, as entering the aspirin market requires significant investment and regulatory approvals[5].
- Threat of Substitutes: Moderate, as there are other analgesics and anti-inflammatory medications available, but aspirin remains a preferred choice due to its efficacy and cost-effectiveness[5].
Conclusion
The market for aspirin, including the NDC code 00536-1054, is expected to remain stable with slight growth driven by increasing demand and expanding distribution channels. Prices are likely to remain competitive due to the dominance of generic versions and regulatory efforts to enhance transparency and control price increases.
Key Takeaways
- The global aspirin market is projected to grow at a CAGR of 2.40% from 2020 to 2027.
- The current price per unit for Aspirin 325 MG tablets is approximately $0.01521.
- The market is segmented by product, application, distribution channel, and geography.
- Generic versions dominate the market, keeping prices stable and competitive.
- Regulatory and transparency efforts may indirectly influence pricing.
FAQs
Q1: What is the current price per unit for Aspirin 325 MG tablets with the NDC code 00536-1054?
The current price per unit is approximately $0.01521 as of December 2024[1].
Q2: What are the main drivers of the aspirin market growth?
The main drivers include the growing demand for analgesics, expanding retail and e-commerce sectors, and the presence of companies offering acetyl salicylic acid products[5].
Q3: How does the generic market influence aspirin pricing?
Generic versions of aspirin, being 80-85% cheaper than branded versions, keep prices competitive and stable. This competition is likely to maintain or slightly reduce prices over time[5].
Q4: What regulatory efforts could impact aspirin pricing?
Initiatives like the Prescription Drug Price Transparency Program aim to increase transparency and potentially control price increases, although their direct impact on aspirin prices is minimal[2][4].
Q5: How does the economic condition affect the demand and pricing of aspirin?
Aspirin is an essential medication, and its demand is less elastic to economic changes. However, economic fluctuations can influence consumer spending habits and demand to some extent[5].
Sources
- DrugPatentWatch - Drug prices and trends for ASPIRIN.
- Oregon Department of Consumer and Business Services - Prescription Drug Price Transparency Results and Recommendations.
- TFS CRO - 5 Predictions for the Biopharma and Biotech Industries in 2025.
- Oregon Department of Consumer and Business Services - Prescription Drug Price Transparency Program results and recommendations.
- Knowledge Sourcing - Global Aspirin Market Size & Share: Industry Report, 2022-2027.
