Intravenous (IV) Ibuprofen Market is gaining Traction due to Increasing Usage of Pain Management Drugs
Intravenous (IV) Ibuprofen Market is gaining Traction due to Increasing Usage of Pain Management Drugs
Blog Article
The intravenous (IV) ibuprofen market continues to offer several therapeutic advantages over other pain management drugs. IV ibuprofen provides rapid and effective pain relief from postoperative pain and, fever and can reduce reliance on opioids. It offers multi-modal benefits and helps in reducing opioid consumption and associated risks. The growing prevalence of surgeries and sports injuries has augmented the demand for more effective postoperative and acute pain management options.
Global intravenous (IV) ibuprofen market is estimated to be valued at USD 6.91 Bn in 2024 and is expected to reach USD 11.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031.
Key Takeaways
Key players operating in the intravenous (IV) ibuprofen market are Cumberland Pharmaceuticals Inc., Hyloris Pharmaceuticals SA, Grifols, S.A., Recordati Rare Diseases Inc., XGEN PHARMACEUTICALS DJB, Inc., AFT Pharmaceuticals, Laboratorios Valmorca, SGPharma Pvt. Ltd., Wellona Pharma, Delex Pharma, Hikma Pharmaceuticals PLC.
The growing incidence of surgeries, sports injuries, and trauma cases has increased the demand for more effective postoperative and acute pain management drugs. Intravenous ibuprofen provides faster and better pain relief than oral medications and reduces the burden on conventional opioids.
Major pharmaceutical companies are focusing on expanding their global footprint through new product approvals and partnerships. In January 2022, Cumberland Pharmaceuticals gained approval to market Iveprazole for Injection in South Korea. In 2021, AFT Pharmaceuticals received approval to sell Ibuprofen Lysine Injection in Australia.
Market Key Trends
One of the key in Intravenous (IV) Ibuprofen Market Size is increasing for non-opioid medications. The opioid crisis and growing addictions have raised alarms regarding the chronic usage of opioids for pain management. This has driven research into novel therapeutic alternatives. IV ibuprofen provides an option for effective postoperative and acute pain relief with relatively lower addiction and safety risks compared to opioids. Growing awareness about these benefits is expected to boost the demand and adoption of IV ibuprofen solutions.
Porter’s Analysis
Threat of new entrants: New entrants will face high costs associated with drug development and clinical trials for intravenous formulation.
Bargaining power of buyers: Large group purchasers like hospitals and pharmacy chains can negotiate lower prices from suppliers.
Bargaining power of suppliers: Few suppliers in the intravenous ibuprofen market leads to high supplier bargaining power and pricing pressure.
Threat of new substitutes: Alternate pain medications can act as substitutes but lack desired safety profiles and efficacy of intravenous ibuprofen.
Competitive rivalry: Presence of many branded and generic players intensifies competition in terms of pricing and product differentiation strategies.
Geographical analysis:
North America dominates the intravenous ibuprofen market in terms of value owing to high patient awareness, healthcare expenditure and established healthcare infrastructure. High prevalence of post-operative pain and orthopedic surgeries in the region drive market growth. Asia Pacific is primed to be the fastest growing regional market during the forecast period due to increasing medical tourism, unmet patient needs and improving access to healthcare. Rising healthcare budgets in countries like China and India augur well for regional market expansion.
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