Global Aspirin Drug Market Set for Significant Growth, Projected to Reach USD 4,236.9 Million by 2034

Aspirin Drug Market
Aspirin Drug Market

The global aspirin drug market is poised for substantial growth over the next decade, with its value expected to increase from USD 2,938.2 million in 2024 to USD 4,236.9 million by 2034. This projected expansion reflects a steady compound annual growth rate (CAGR) of 3.8%, driven by a combination of increasing cardiovascular disease management and the broader adoption of aspirin as a preventive health measure.

The global market for aspirin drugs is strongly linked to the development and expansion of the healthcare sector and the research and development of aspirin drugs. Rising cases of cardiovascular diseases around the globe are expected to boost the demand for aspirin drugs. As per the data published by the World Health Organization (WHO) in June 2022, 32% of all deaths worldwide were due to CVDs in 2019, which is around 17.9 million people. Heart attack and stroke-related deaths exhibited 85% of these total deaths.

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Pharmaceutical manufacturers are concentrating on new drug discoveries, formulation of effective tablets, and experimentation with different drug dosages. Several patients widely accept aspirin due to their reputation as an effective medication for chronic diseases. Consequently, sales of aspirin drugs are predicted to observe a substantial rise over the expected period.

Key Takeaways from the Aspirin Drug Market Report:

  • Combination is the leading segment of aspirin drugs. The segment is predicted to hold a 68.0% market share in 2024. Increasing cases of strokes due to lifestyle changes are expected to contribute to this segment’s growth.
  • The tablet is set to lead in terms of indication of aspirin drugs, with a projected market share of around 44.8% by 2024. The increasing consumption of pills fuels product demand to relieve conditions like arthritis, pain, and swelling.
  • By route of administration, the oral segment is leading in the global aspirin drug market. The segment is expected to expand at a projected CAGR of 3.5% CAGR through 2034. The market share of this segment is predicted to be 49.8% in 2024.
  • Paediatric holds a substantial share in the aspirin drug market with a value share of 56.2%. The segment is predicted to increase at a CAGR of 3.8% through 2034.
  • Retail pharmacies as a distribution channel hold the chief position. The segment is expected to expand at a CAGR of 3.4% through 2034.
  • The United States is estimated to account for a dominant share of 25.7% in 2024. Regionally, the country is predicted to hold a massive share of 88.9% in the same year. Moreover, the regional market is expected to expand at a CAGR of 3.9%.

Strategic moves of leading players include new product launches, research and development efforts for effective pain killers, educational campaigns, and expanding online presence to stay relevant in the pharmaceutical sector,” says an FMI analyst.

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Significant Steps Undertaken by Leading Players:

The market for aspirin drugs is fragmented, and several local, upcoming, and established players exist within the market. Key players are initiating marketing initiatives to educate the elderly about the benefits of aspirin drugs while also attempting to improve drugs with different specifications.

Recent Developments Advancing the Field of Aspirin Drug

  • In December 2022, Bayer announced that it would invest €100 million to enable the consumption of consumer health products, production, and sustainable innovation, including well-known brands like Aspirin, Claritin, Elevit, and Bepanthen.
  • In February 2023, Bayer introduced a new aspirin campaign to raise awareness about the link between cardiovascular health and the stress of sports fandom.

Key Players Providing Aspirin Drug:

  • Bayer AG
  • Dr Reddy’s Laboratories
  • Sanofi S.A
  • Abbott Laboratories
  • Sunshine Laboratories India Limited
  • ANI Pharmaceuticals, Inc
  • Thermo Fisher Scientific,
  • Advance Pharmaceutical Inc.
  • Allegiant Health
  • KEM Pharma LLC
  • Globalimporter Inc.
  • Par Pharmaceutical,
  • Industria Quimica Andina Y Cia Sa
  • Cardinal Health
  • Nanjing pharmaceutical factory Co, ltd.
  • JQC (Huayin) Pharmaceutical Co., Ltd.

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Key Market Segments Covered in Aspirin Drug Market Research

By Product Type:

  • Alone
  • Combination

By Dosage Form:

  • Tablet
  • Capsules
  • Injections
  • Suppositories

By Route of Administration:

  • oral
  • Rectal
  • Parenteral

By Age:

  • Adult
  • Pediatric

By Distribution channel:

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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