Ibuprofen API Market is Projected to Reach US$ 772.2 Mn by the end of 2029: Future Market Insights, Inc.

Leading market participants of the Ibuprofen API Market elaborated in the report include BASF SE, BIOCAUSE Inc., IOL Chemicals And Pharmaceuticals Limited, SI Group, Inc., Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd., Solara Active Pharma Sciences Limited, Granules India Limited

NEWARK, Del., May 16, 2022 /PRNewswire/ -- The global Ibuprofen API Market surpassed US$ 626.2 Mn in 2022 and is anticipated to increase at a CAGR of 3% to reach US$ 772.2 Mn by 2029. as per the findings of a new Future Market Insights (FMI) study. The primary factors for the growth of the Ibuprofen API market include continuous demand for low-cost non-steroidal anti-inflammatory drugs (NSAID) and the scale and age of manufacturing facilities.

Increasing API drug shortages and assembling a task force to overcome these problems, the emergence of cost-effective drug manufacturers in various countries and the supply of API drugs, primarily in developing countries, are further driving ibuprofen API market growth.

The pharmaceutical API industry is witnessing a substantial crunch in supply and demand of Ibuprofen API, halted production from major ibuprofen API manufacturers, and supply chain disruption in China further led by declining sales in India.

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The volatility in Ibuprofen API is due to factors such as a lower number of competitors, reduced utilization ratio, lower margin level, new higher-value opportunities in complex combinations and high-grade API, the pace of facility inspection by FDA, and ramping up production capacity of through mergers and consolidation.

The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for drug development and its market.

There has been an upsurge in the usage of advanced technologies, such as high throughput, bioinformatics and combinatorial chemistry for better drug candidate identification. Drug discovery has evolved significantly with emerging technologies, helping the process to become more refined, accurate, and less time-consuming. Due to automation, multi-detector readers, imaging hardware and software, high-throughput screening is one of the most widely used drug discovery technologies.

Leading Companies Profiled in Ibuprofen API Market are

• BASF SE
• BIOCAUSE Inc.
• IOL Chemicals and Pharmaceuticals Limited
• SI Group, Inc.
• Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd.
• Solara Active Pharma Sciences Limited
• Granules India Limited

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FMI Analyses the COVID-19 Impact on Market

FMI's analysis suggests that the ongoing COVID-19 pandemic is having adverse impacts on market growth. Wuhan, China is the hub of API supplies. The region is the epicentre of the coronavirus outbreak, as such, it has temporarily halted its manufacturing facilities.

Further, China is the prominent or the sole supplier of APIs including, penicillin and erythromycin, in the world. Manufacturers and distributors in the country are blaming logistical barriers and labour scarcity due to the COVID-19 pandemic for the delay in production and transportation.

Key Takeaways of Ibuprofen API Market Study

• Greater focus on relieving the pressure on the supply chain due to the demand gap is being tackled by ramping up production capacity, up-scaling is the fundamental strategy outlined for meeting demand in the Ibuprofen API space.
• Majority of the anti-inflammatory drugs are manufactured in Asia, especially in China and India. Approximately 80% of the total anti-inflammatory APIs are manufactured in India and China and most of the APIs manufactured in these countries are outsourced to other developed regions – North America and Europe.
• High upfront cost and lower margin level in Ibuprofen API have resulted in a 20-30% price spike in final drug formulations and lower sales in the previous year.
• The market for Ibuprofen API is consolidated in nature, with leading manufacturers holding around 90% of the market value as 90%. Hence, the growing interest of CMOs and large-scale API manufacturers is anticipated to boost the value creation of the ibuprofen API market.
• Higher volume handling by Contract Manufacturing Organizations in comparison to pharmaceutical companies and amid higher production capabilities and price advantage over pharmaceutical companies are expected to generate significant revenue pockets.
• Expanding patient pool consuming non-controlled drugs as OTC are also responsible for the growth of in-house ibuprofen API consumption in South and East Asia.

Lower labour cost and abundant availability of raw materials required for ibuprofen API are among the key factors fuelling the growth of the ibuprofen API market in South Asia. In addition, favourable regulatory support to establish ibuprofen API manufacturing businesses, and lower taxation policies are boosting the growth of the East and South Asia ibuprofen API market.

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Capacity Expansion, and Strategic Mergers & Acquisitions to Widen Regional Presence

Leading players in the ibuprofen API market – SI Group, Inc., BASF SE, Hubei Biocause Pharmaceutical Co., Ltd. (BIOCAUSE Inc.), IOL Chemicals, Sino-US Zibo Xinhua-Perrigo Pharmaceutical Co., Ltd., and Solara Active Pharma Sciences Limited – are focusing on business expansions by mergers, joint ventures, distribution agreements and capturing the untapped potential of the Ibuprofen API market.

• In 2018, IOL Chemicals, the largest Indian Ibuprofen API manufacturer, expanded its production capacity to 12000 MT from the previous capacity of 7500 MT. With the increased capacity, IOL Chemicals is filling the demand-supply gap that is rising due to stringent regulatory reform in China. This move can further benefit the Indian manufacturers looking to strengthen their foothold in the Ibuprofen API market.
• The acquisition by Solara Active Pharma Sciences Limited in 2018 of the Ibuprofen API assets of Strides and Sequent enabled the company to capture the portfolio of niche segments of the Ibuprofen API market.
• The joint venture between Granules India Ltd (GIL) and Hubei Biocause Heilen Pharmaceutical Co. Ltd. have a production facility in Jingmen, China. In a recent discussion, Granules India Ltd (GIL) is planning to part out of the joint venture.

Additionally, current acquisitions are focused on capacity expansion, and manufacturing capabilities of existing Ibuprofen API players to gain competitiveness and accelerate revenue growth in the market landscape.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.

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