Global Aspirin Market Size By Product(Prescription and OTC), By Application(Cardiovascular Disease, Pain/Fever/Inflammation), By Geographic Scope And Forecast

Aspirin Market Size And Forecast

Aspirin Market size was valued at USD 2.26 Billion in 2024 and is projected to reach USD 2.75 Billion by 2031, growing at a CAGR of 2.47% during the forecast period 2024-2031.

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. The Global Aspirin Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Aspirin Market Definition

Aspirin is also known as acetylsalicylic acid, which is mainly used as an antipyretic, analgesic, and anti-coagulant and has been clinically used by the population for over 100 years. Aspirin is also used in the prevention of cardiovascular disease. Aspirin 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 the platelet, preventing platelet aggregation.

An increase in conditions such as pain and inflammation, which arthritis can be one of the reasons, may drive the aspirin market growth. An increase in changes in population lifestyle such as smoking, overweight, consumption of high cholesterol food, and many others can rise the prevalence of cardiovascular health disease both in developing as well as developed countries. The growing active pharmaceutical industry and the use of these APIs in the formulation of drugs may increase the market growth for aspirin. The common side effects related to the consumption of aspirin such as rash, abdominal pain, heartburn, drowsiness, cramping, nausea, and many others, whereas some of the rare side effects of aspirin are hypersensitivity, eye syndrome, and intracerebral hemorrhage, which can hinder the aspirin market growth. More prolonged use or overdose of aspirin can lead to bleeding in the small intestine, stomach, and brain. Although there is a layer that protects the stomach and intestine, this layer can easily get damaged if an aspirin overdose occurs. Therefore, this factor can also decrease the market growth for aspirin.

Global Aspirin Market Overview

The drug is available as prescription aspirin, non-prescription, or OTC aspirin worldwide. However, due to the specific side effects of aspirin, there are concerns that people are rethinking drug uptake without prescription. This factor might act as a restraint on hampering the market growth during the forecast period. In some cases, for example, aspirin is utilized as one of the additives in developing specific healthcare products like hydrogels by the multinational company Cardinal Health. Such product formation incorporating aspirin as one ingredient also fuels the market growth in the forecast period. Cardinal Health is a global healthcare service and products company that deals in developing and manufacturing an extensive line of hydrogels for varied end-use applications. These include ECG signaling, defibrillation, electrosurgical, wound care, cosmetics, and other applications. Hydrogel additives include aloe, vitamin A, C, and E, menthol, aspirin, camphor, lidocaine, green tea extract, and fragrances including cinnamon, essential oils, cucumber, and rose.

The growing API, i.e., active pharmaceutical ingredient industry, will further propel the market growth of acetylsalicylic acid as an active ingredient in drug formulations. China, from the APAC region, is estimated to hold a significant market share in the global API industry. The augmenting retail industry and booming e-commerce sales are propagating market growth during the forecast period. During COVID-19, it was observed that Amazon sales of essential items, including aspirin, in the United States soared by over two times in the first two weeks of March 2020. The main reason is that numerous consumers prefer online retailing to the risk of visiting offline stores.

Global Aspirin MarketSegmentation Analysis

Aspirin Market is segmented based on Product, Application and Geography.

Medical Simulation Market By Product

• Prescription• OTC

Based on Product, the market is bifurcated into Prescription and OTC. The drug is available as prescription aspirin, non-prescription, or OTC aspirin worldwide. However, due to the specific side effects of aspirin, there are concerns that people are rethinking drug uptake without prescription. This factor might act as a restraint on hampering the market growth during the forecast period.

Aspirin Market By Application

• Cardiovascular Disease• Pain/Fever/Inflammation• Others

Based on Application, the market is bifurcated into Cardiovascular Disease, Pain/Fever/Inflammation and Others. Aspirin Cardio is designed explicitly for cardiology applications. With the growing number of cardiovascular diseases, aspirin is prescribed for blood thinning applications. A physician may prescribe a low-dose aspirin for the prevention of blood clots. This further aids in the reduction of stroke and heart attack risks.

Aspirin Market By Geography

• North America• Europe• Asia Pacific• Rest of the world

Asia-Pacific region in which China is considered as a top leading market share due to increase in production as well as export of APIs that is 20% of the world’s production. Due to low cost and increase in government support, China is considered a leading country. Europe is considered as the second largest market share due to niche market players of aspirin such as Bayer AG, Germany has an increased number of cases of migraine. North America and South America has also increased market share due to the rise in the prevalence of headache and migraine.

Key Players

The “Global Aspirin Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Bayer AG, Globalimporter Inc., Allegiant Health, Par Pharmaceutical, Industria Quimica Andina Y Cia Sa, Cardinal Health, Nanjing pharmaceutical factory Co, ltd., JQC (Huayin) Pharmaceutical Co., Ltd., LNK International, Inc., Globela Pharma Pvt Ltd, Bal Pharma Limited, Trumac Healthcare, Perrigo Company plc.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• ANI Pharmaceuticals, Inc. introduced Aspirin & Extended Release Dipyridamole Tablets, 25mg/200mg (the generic version of Aggrenox) in October 2019. This is the fifth generic medication that ANI has released in 2019.

• 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.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the industry/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/Industry launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, Industry benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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