Rise in prevalence of cardiovascular diseases (CVDS), expanding applications in pain management & fever reduction, and government & healthcare initiatives promoting preventive medicine drive the growth of the global aspirin drugs market.
WILMINGTON, Del., March 24, 2025 /PRNewswire/ -- Allied Market Research published a report, titled, "Aspirin Drugs Market by Dosage Form (Tablets, Capsules, and Others), Application (Pain Relief, Cardiovascular Disease Prevention, Anti-inflammatory Uses, and Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "aspirin drugs market" was valued at $1.3 billion in 2023, and is estimated to reach $1.8 billion by 2035, growing at a CAGR of 2.7% from 2024 to 2035.
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Prime Determinants of Growth
Rise in prevalence of cardiovascular disease and rise in demand for pain management solutions are major factors that drive the growth of the global aspirin drugs market. However, availability of alternative for aspirin are anticipated to hinder the market growth. On the contrary, rise in research and development is expected to offer remunerative opportunities for the aspirin drugs market during the forecast period.
Report coverage & details
Report Coverage
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Details
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Forecast Period
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2024-2035
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Base Year
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2023
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Market Size in 2023
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$1.3 Billion
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Market Size in 2035
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$1.8 Billion
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CAGR
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2.7 %
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No. of Pages in Report
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276
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Segments covered
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Dosage Form, Application, Distribution channel, and Region
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Drivers
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Rise in prevalence of diseases
Widespread availability and affordability of aspirin
Increase in awareness of preventive healthcare
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Opportunity
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Rise in research and development (R&D) initiatives
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Restraint
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Availability of alternative medications
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The tablet segment held the largest market share in 2023
By dosage form, the tablet segment held the largest market share in 2023, accounting for almost two-third of the aspirin drugs market revenue, owing to its widespread availability, ease of administration, and precise dosage control. Tablets offer longer self-life, cost-effectiveness, and patient convenience, making them the preferred choice for both prescription and over the counter (OTC) use. In addition, advancements in enteric-coated and extended-release formulations have enhanced patient compliance by reducing gastrointestinal side effects.
The pain relief segment held the largest market share in 2023
By application, the pain relief segment accounted for the largest share in 2023, contributing more than two-fifths of aspirin drugs market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to its widespread use in managing headaches, muscle aches, and other pain-related conditions. Aspirin's proven efficacy as an analgesic, along with its availability in various formulations, has contributed to its strong demand. In addition, rise in prevalence of chronic pain and growing consumer preference for over-the-counter (OTC) pain relievers have further driven the segment growth.
The retail pharmacies segment held the largest market share in 2023
By distribution channel, the retail pharmacies segment held the largest market share in 2023, accounting for almost half of the aspirin drugs market revenue. This is attributed to its widespread accessibility, strong distribution networks, and growing consumer preference for over-the-counter (OTC) medications. Retail pharmacies offer convenient purchasing options, professional guidance from pharmacists, and wide range of aspirin formulations. In addition, increasing self-medication trends, especially for pain relief and cardiovascular disease prevention, along with the expansion of pharmacy chains in emerging markets, contributed to the segment growth in the aspirin drug market.
North America to maintain its dominance by 2035
By region, North America held the largest market share in terms of revenue in 2023, accounting for more than one-third of the aspirin drugs market revenue and is expected to dominate the market during the forecast period. This is attributed to rise in prevalence of cardiovascular diseases, widespread awareness of preventive healthcare, and strong healthcare infrastructure in the region. The region benefits from substantial healthcare investment, a well-established pharmaceutical industry, and presence of major market players. In addition, increase in geriatric population, rise in adoption of OTC drugs, and favorable regulatory policies have further fueled the demand for aspirin in both prescription and over-the-counter applications.
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Leading Market Players: -
- Bayer AG
- Perrigo Company plc
- Cardinal Health
- Thermo Fisher Scientific Inc.
- Mayne Pharma Group Limited
- Advacare Pharma Inc.
- Dexcel Pharma Limited
- Hyloris Pharmaceuticals SA
- Conical Pharmaceuticals
- Geri-Care Pharmaceuticals Corp.
The report provides a detailed analysis of these key players in the aspirin drugs market. These players have adopted strategies such as product approval and clinical trails to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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