According to a new report published by Allied Market Research, titled, “Intravenous (IV) Ibuprofen Market by Indication and Age Group: Global Opportunity Analysis and Industry Forecast, 2021–2030", the global intravenous (IV) ibuprofen market size was valued at $5.34 million in 2020, and is projected to reach $15.48 million by 2030, registering a CAGR of 13.4% from 2021 to 2030.
The intravenous (IV) ibuprofen is used to treat mild to severe pain and inflammation. The ibuprofen belongs to non-steroidal anti-inflammatory drugs (NSAIDs) class of drugs. Ibuprofen acts by inhibiting cyclooxygenase (COX 1 and COX 2), which is required for the production of prostaglandins (PG). Prostaglandins (PG) are responsible for pain and inflammation.
Factors that drive the growth of the intravenous (IV) ibuprofen market include, rise in number of hospitals, increase in prevalence of bone cancer, and pediatric population. For instance, according to the State of Americas Children, in 2021, it was reported that there were around 73 million children present in the U.S., as the use of ibuprofen injection in children was approved Furthermore, increase in number of product approvals and product launch in new markets contribute in the growth of the market.
The intravenous (IV) ibuprofen market is segmented on the basis of indication, age group, and region
Depending on indication, the market is bifurcated into pain/inflammatory and fever. The pain/inflammatory segment was the major revenue contributor in 2020, owing to the prevalence of mucoskelatal diseases.
On the basis of age group, the IV ibuprofen market is categorized into digital pediatrics and adults. The adults segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the prevalence of headache and muscle pain in adults.
Impact of COVID-19 Pandemic on Intravenous (IV) Ibuprofen Market (Pre & Post Analysis)
The COVID-19 outbreak is anticipated to have a negative impact on the growth of the intravenous (IV) ibuprofen market as most hospitals are not operating due to COVID-19 and the ongoing lockdowns in many countries. The COVID-19 virus has serious and life-threatening impact on population. However, a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity to provide better healthcare facility, and this is expected to increase the diagnosis and treatment of bone cancer, which contributes in the market growth.
Key Findings Of Study
- On the basis of indication, the pain/inflammatory segment was the highest contributor to the market in 2020.
- On the basis of age group, the adults segment dominated the market in 2020.
- Region-wise, U.S. garnered the largest revenue share in 2020, whereas China is anticipated to grow at the highest CAGR during the forecast period.
North America accounted for a majority of the global IV ibuprofen market share in 2020, and is anticipated to remain dominant during the forecast period, due to rise in prevalence of bone cancer, presence of key players for development of IV ibuprofen medication, and well-established infrastructure in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to the prevalence of arthritis and high population in region, owing to increase in the number of hospitals, prevalence of cancer, and high pediatric population base.