Aspirin Market

Global Aspirin market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 373 Million by 2026.

NEW YORK, UNITED STATES, May 25, 2020 /EINPresswire.com/ -- Findings from Facts and Factors report “Aspirin Market By Application (Fever, Pain Relief, Inflammation, Antiplatelet, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Aspirin market in 2019 was approximately USD 250 Million. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 373 Million by 2026.

Aspirin (acetylsalicylic acid) is a synthetic organic. It is derived from salicylic acid. It is one of the most commonly utilized drugs for pain relief. This drug is the first no steroidal anti-inflammatory drug (NSAID). Aspirin is used for a variety of applications such as to cure fever, relieve pain, cure inflammation, and many other applications.

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Some of the key players operating in the target market are Novacyl, Bayer, Andhra Sugars, WuyiCihang, HuayinJinqiancheng, NanjingPharmaceutical, HunanZhongnan, Shandong Xinhua, HebeiJingye Group, Jilin Pharmaceutical, and Others.

The rising demand for aspirin to cure pain is the major driver of the target market. In addition, aspirin is used to fight a host of health problems including general pain or fever. Moreover, it is utilized to cure cerebral thrombosis. Furthermore, the drug is useful in curing several diseases such as gout, rheumatic fever, and rheumatoid arthritis. Basically, aspirin is useful in curing health-related issues. However, allergies and side effects associated with aspirin may harm the target market growth over the forecast period. Nevertheless, online marketing and advertisement of aspirin and is expected to create lucrative growth opportunities for the target market.

In terms of application, the target market is categorized as fever, pain relief, inflammation, antiplatelet, and others. Among these, the pain relief category is expected to dominate the application segment owing to the ability of aspirin to relieve pain within the body. It reduces the production of prostaglandins. Hence, it is majorly used by consumers for pain relief.

Rising investment in research and development by pharmaceutical companies, in developed as well as developing economies have surged the target market growth. In addition, the development of new products associated with the target market is augmenting the target market growth. However, few allergies and side effects of aspirins are expected to restrain the target market growth over the forecast period.

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Online marketing and advertisement coupled with the distribution of aspirin are anticipated to create lucrative opportunities for the target market over the forecast period. Also, the digital marketing of aspirin drugs may boost the target market growth owing to the popularity of digital media nowadays.

The Aspirin market research report delivers an acute valuation and taxonomy of the Aspirin industry by practically splitting the market on the basis of different applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Aspirin industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Aspirin industry is provided for the leading economies of the world.

In terms of region, the target market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America is expected to be the leading one. There are highly competitive pharmaceutical industries in both generic product segments as well as branded segments in the region. Moreover, companies in the region compete among themselves. In addition, almost all the target market key players in the region are active in the production of drugs with the potential such as the treatment of cardiovascular, infectious, oncology, and psychiatric diseases. Apart from this, the North American target market key players are also involved in several R&D activities. These factors have majorly propelled the target market growth in North America.

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This report segments the Aspirin Market as follows:

Global Aspirin Market: By Application Segmentation Analysis

Fever
Pain Relief
Inflammation
Antiplatelet
Other

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