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.

Feeling those aches and pains? Conditions like pain and inflammation, where arthritis is a common culprit, could be a big factor in the growth of the aspirin market. Plus, things like smoking, being overweight, and eating too much high-cholesterol food – all those lifestyle changes – are leading to more cardiovascular health problems in both developed and developing countries. That’s potentially fueling the need for aspirin too! Don’t forget the active pharmaceutical industry – all those drugs being made using active pharmaceutical ingredients (APIs) are playing a part in aspirin's market growth. However, it’s not all good news. Aspirin comes with side effects, from common ones like rash, abdominal pain, heartburn, drowsiness, cramping, and nausea, to rarer but more serious issues like hypersensitivity, eye syndrome, and intracerebral hemorrhage. These could actually slow down the aspirin market's expansion. And let's be realtaking too much aspirin or using it for too long can cause bleeding in your small intestine, stomach, or even your brain! Even with that protective layer in your stomach and intestines, an aspirin overdose can really mess things up and damage it. So, that's another thing holding back the ASA market a bit.

Global Aspirin Market Overview

You can find aspirin, either through a prescription, or just over-the-counter (OTC) pretty much anywhere in the world. But, because aspirin can have some tricky side effects, more and more people are thinking twice about popping it without a doctor's say-so. This hesitation could slow down market growth a bit. On the flip side, companies like Cardinal Health are using aspirin as an ingredient in cool new healthcare products, like hydrogels. This kind of innovation is actually boosting the market. Cardinal Health, a big player in healthcare services and products, makes all sorts of hydrogels for different uses – think ECG signaling, wound care, even cosmetics! They throw in all kinds of goodies like aloe, vitamin A, C, and E, menthol, aspirin, camphor, lidocaine, green tea extract, and even scents like cinnamon, essential oils, cucumber, and rose.

The API, or active pharmaceutical ingredient, industry is really taking off, and that's expected to boost the use of acetylsalicylic acid (you know, like aspirin!) in making medicines. China, being a big player in the Asia-Pacific (APAC) region, is predicted to hold a major chunk of the global API market. Plus, with more retail stores popping up and e-commerce absolutely exploding, the market is poised for some serious growth. Remember during COVID-19? Amazon sales of essentials, including aspirin, in the United States went through the roof! We're talking more than double in the first couple weeks of March 2020. The thing is, a lot of folks preferred the safety of buying online rather than braving the 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

We dig deep into the market, looking at the numbers (quantitative) and the less tangible stuff (qualitative) by breaking it down into different groups based on money and other things. You'll get market values (in USD Billion) for each of these groups. We'll also point out which region and group we think will grow the fastest and be the biggest. We'll analyze each region, focusing on how much of the is used there and what's influencing the market in each place. See who's on top with our competitive landscape, including market rankings of the big players, along with new launches, partnerships, expansions, and acquisitions from the last five years for the companies we looked at. We've got detailed company profiles too, with company overviews, insights, benchmarking, and SWOT analysis for the main companies in the market. We'll give you a sense of where the market is now and where it's headed, considering recent happenings (like growth opportunities, what's driving it, and the challenges in both new and established regions). Plus, we'll give you a thorough look at the market using Porter's five forces analysis and offer insights through the Value Chain. Finally, we'll cover the market's dynamics and the growth opportunities on the horizon, and you'll even get 6 months of analyst support after your purchase.

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