World IV Ibuprofen Market is Expected to Reach $14.2 Million by 2022
Author: Allied Market Research : Contact: alliedmarketresearch.com
Report by Allied Market Research shows global intravenous (IV) ibuprofen market projected to reach $14.2 million by 2022.
According to a new report by Allied Market Research, titled, "World IV Ibuprofen Market - Opportunities and Forecasts, 2015 - 2022", the global intravenous (IV) ibuprofen market is projected to reach $14.2 million by 2022. The pain indication segment accounted for over three-fourths share in 2015 and is expected to maintain its dominance throughout the forecast period.
The major factors that boost the market growth include, increase in adoption of intravenous mode of drug delivery for acute pain management due to faster onset of action as compared to the other routes (oral and transdermal mode of administration) and targeted drug delivery property. The market growth is further augmented as IV ibuprofen improves pain management with less dependence on opioid analgesic medication, which may lead to several health complications such as sedation, dizziness, and others. Caldolor (Cumberland Pharmaceuticals) is the only injectable ibuprofen drug available in the market; hence, it has huge demand with minimal competition. However, numerous factors are likely to restrain the market growth such as lengthy approval process and limited geographic (country specific) approvals. The IV Ibuprofen market is estimated to grow at a CAGR of 20.0% during 2016 and 2022.
Adults end user segment accounted for major share in 2015, and is projected to maintain this trend throughout the forecast period. This is because the IV Ibuprofen was not prescribed for pediatrics until 2014. Pediatrics is projected to be the fastest growing end user segment, owing to the growing need for rapid pain and fever management in children (to avoid damage caused by inflammation and high body temperature) and increasing awareness about the use of IV Ibuprofen in children.
- Fever is projected to be the fastest growing indication segment.
- Australia IV Ibuprofen market is expected to grow at the fastest CAGR of 14.7% from 2015 to 2020.
- In 2015, the U.S. and Canada collectively accounted for more than three-fourths of the world IV Ibuprofen market.
The U.S. is anticipated to remain the highest revenue-generating region during the forecast period, owing to the widespread adoption of IV Ibuprofen for treating pain and fever. However, Australia is expected to grow rapidly during the forecast period, owing to recent entry of IV Ibuprofen in this market, increasing awareness of non-steroidal anti-inflammatory drugs, and shifting trend towards intravenous mode of drug delivery.
The IV Ibuprofen market is dominated by Cumberland Pharmaceuticals and is actively engaged in research for the development of novel IV Ibuprofen products. The key ibuprofen companies profiled in this report are Cumberland Pharmaceuticals Inc., Alveda Pharmaceuticals, Inc. (Acquired by Teligent, Inc.), CSL Limited, Sandor Medicaids Pvt. Ltd., PT. Soho Industri Pharmasi, Germin MED, Grifols S.A., Harbin Gloria Pharmaceuticals Co., Ltd., Al Nabeel International Ltd., and Laboratorios Valmorca, C.A
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