Close-up. Pharmacy theme, white medicine tablets antibiotic pills.
The Aspirin by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aspirin , The aspirin market size has grown steadily in recent years. It will grow from $2.47 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to pain management and analgesic demand, cardiovascular health awareness, anti-inflammatory properties, preventive measures for stroke and heart attacks, treatment of fever and headaches, rheumatic fever and arthritis treatment.
The aspirin market size is expected to see strong growth in the next few years. It will grow to $3.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising incidence of chronic diseases, potential benefits in neurological disorders, pharmaceutical industry innovations, increased adoption in developing regions, growing popularity of self-care practices.. Major trends in the forecast period include cancer prevention research, combination therapies, personalized medicine approaches, customized dosage forms and delivery systems, telemedicine and self-care.
The increasing prevalence of arthritis is expected to propel the growth of the aspirin market going forward. Arthritis is a medical condition in which a patient suffers from pain and swelling in the joints. Aspirin is a nonsteroidal anti-inflammatory medicine that helps people with chronic pain from arthritis and other conditions by reducing inflammation, reducing pain, and improving function. Increasing arthritis patients directly increases the use of aspirin. For instance, according to a report shared by the Centers for Disease Control and Prevention, a US-based national public health agency, 1 in 4 adults in the US were suffering from doctor-diagnosed arthritis, which is almost 58.5 million people. The number is expected to increase to 78.4 million by 2040. As a result, the increasing prevalence of arthritis is driving the growth of the aspirin market.
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The aspirin market covered in this report is segmented –
1) By Product: Prescription, OTC
2) By Route Of Administration: Oral, Rectal, Parenteral
3) By Dosage Form: Tablets, Capsules, Injections, Suppositories
4) By Application: Cardiovascular Disease, Pain, Fever, O Inflammation, Other Applications
5) By End User: Hospitals, Clinics, Other End Users
Product innovation is a key trend gaining popularity in the aspirin market. Major companies operating in the aspirin market are introducing innovative products such as VAZALORE liquid-filled aspirin capsules to sustain their position in the market. For instance, in August 2021, PLx Pharma, a US-based specialty pharmaceutical company, launched VAZALORE 325 mg and VAZALORE 81 mg liquid-filled aspirin capsules. The new product is the first US FDA-approved liquid-filled aspirin capsule and is beneficial in avoiding stomach erosions and ulcers as compared to immediate-release aspirin. VAZALORE is an innovative aspirin with a special delivery method created to protect the stomach, even while cardiologists continue to advise aspirin for their patients with cardiovascular disease. Compared to aspirin formulations that are enteric-coated and plain, VAZALORE delivers aspirin differently. Aspirin is released selectively from the capsule’s unique complex, avoiding direct contact with the stomach. VAZALORE provides aspirin’s potentially life-saving properties along with quick, dependable pain relief absorption.
The aspirin market report table of contents includes:
1. Executive Summary
2. Aspirin Market Characteristics
3. Aspirin Market Trends And Strategies
4. Aspirin Market – Macro Economic Scenario
5. Global Aspirin Market Size and Growth
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26. South America Aspirin Market
27. Brazil Aspirin Market
28. Middle East Aspirin Market
29. Africa Aspirin Market
30. Aspirin Market Competitive Landscape And Company Profiles
Top Major Players:
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