Aspirin Price Trend and Forecast

Aspirin Regional Price Overview

Get the latest insights on price movement and trend analysis of Aspirin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Aspirin Price Trend For the Q3 of 2024

Asia

The Aspirin market in Asia demonstrated a notable upward trajectory during Q3’24. The initial market conditions showed moderate pricing levels, but prices gradually increased due to robust demand and tightening supply conditions. The downstream pharmaceutical sector exhibited strong buying sentiment, particularly in China, leading suppliers to maintain firm pricing positions.
 

Aspirin Price Chart

Please Login or Subscribe to Access the Aspirin Price Chart Data
 

Transportation costs remained a significant factor, with elevated freight rates contributing to increased operational costs. Market participants actively engaged in inventory building activities, especially towards the latter part of the quarter, as geopolitical tensions created supply uncertainty. The consistent demand from both domestic and export markets supported the price surge for aspirin throughout the period.

Europe

European aspirin prices followed an inclining trajectory throughout Q3 2024, primarily influenced by strong market fundamentals and supply chain disruptions. The market witnessed increased buying activity, particularly from pharmaceutical manufacturers and healthcare sectors. Despite high logistics costs pressuring margins, sellers successfully implemented price hikes amid favourable market dynamics. Towards the end of quarter, prices stabilized at elevated levels as seasonal demand patterns emerged and supply constraints persisted.

North America

The US domestic market experienced steady price appreciation during Q3’24. The initial phase saw moderate increases driven by rising production costs and stable demand from end-user industries. Mid-quarter prices accelerated upward as supply chain bottlenecks intensified and raw material costs surged. Market sentiment remained bullish throughout the period, supported by strong consumer demand and strategic inventory management by key market participants.

Analyst Insight

According to market analysts, Aspirin prices are expected to maintain their upward momentum in the upcoming months. Market outlook remains positive, with potential for further price increase dependent on continued rising demand and persistent supply chain challenges.
 

Aspirin Price Trend for the Q2 of 2024

Asia

In the Asian region, the aspirin prices varied across different countries, however, in India, aspirin prices saw some relaxation along with some other high-demand medicines in the country. The Indian government has reduced the prices of 41 commonly used medicines and six formulations for conditions like cardiovascular diseases, diabetes, and other ailments. This decision, announced by the Department of Pharmaceutical and the National Pharmaceutical Pricing Authority (NPPA), covers drugs for diabetes, pain relief, cardiovascular conditions, liver issues, antacids, infections, allergies, multivitamins, and antibiotics.

Drugs like hydrochlorothiazide tablets, atorvastatin, clopidogrel, aspirin capsules, and povidone-iodine and ornidazole ointments also saw substantial price cuts. This initiative aims to ensure affordable access to essential medicines. Additionally, the NPPA recently adjusted ceiling prices for 923 drug formulations and revised retail prices for 65 formulations, with prices based on changes in the wholesale price index (WPI).

Europe

In the European drug market, aspirin prices were mostly found to be wavering within a close range. Here, more than the prices, supply chain curtailments and shipment availability were a bigger concern. A coalition of six E.U. member states—Czechia, Cyprus, Malta, Romania, Slovakia, and Slovenia—has warned that excessive national stockpiling of medicines could lead to significant shortages in other E.U. regions. Ahead of the E.U. Health Council meeting on June’21, they highlighted that while securing medicine supplies is crucial, extreme stockpiling disrupts E.U. solidarity and the single market.

Concerns focused on Germany's approach, which requires health insurers to maintain a six-month supply, a strategy also considered by Austria and France. These practices could disproportionately impact smaller markets, causing health risks. The coalition urged the European Commission to propose national stockpile recommendations and called for states to reassess their strategies, promoting transparency and compliance with E.U. law.

North America

During the second quarter of the year 2024, aspirin prices in the USA remained consolidated for most of the said period, however, the general inflation and high costs of drugs and healthcare in the country remained a prominent discussion in the country. As per some research, the costs of prescription medication have risen by about 37% within the last decade. This year, the increase rate has slowed, but costs remain high, raising out-of-pocket expenses for consumers.

The U.S. Federal Trade Commission (FTC) has highlighted how consolidation in the pharmacy and health insurance sectors has allowed a few pharmacy benefit managers (PBMs) to wield significant influence over prescription drug prices. PBMs, acting as intermediaries between drug manufacturers and consumers, manage 79% of U.S. prescription drug claims, enriching themselves at the expense of smaller pharmacies and consumers.

Analyst Insight

According to Procurement Resource, not much change is anticipated in the aspirin prices going forward as well. The prices are expected to remain wavering at similar ranges in the next quarter as well.
 

Aspirin Price Trend for the Q1 of 2024

Stay updated with the latest Aspirin prices, historical data, and tailored regional analysis
 

Asia

In the Asian aspirin market, the prices were observed to be fluctuating within a limited range for the entire period of Q1 of 2024. Aspirin is also called acetylsalicylic acid, as it is generally produced by acetylation of salicylic acid. During the first quarter of 2024, pharma companies, especially Indian companies, struggled with rising raw material and manufacturing costs. The energy, labor, and shipping prices all skyrocketed, elevating the overall incurring production costs for suppliers. APIs (Active Pharmaceutical Ingredients) also cost more since most of the APIs are imported. However, despite all this, the aspirin prices remained confined in the country.

Aspirin is listed on the NLEM (National List Of Essential Medicines) in India. Thus, its prices are highly controlled by the NPPA (National Pharmaceutical Pricing Authority). NPPA allowed a marginal increase of about 0.00551% to MRPs of NLEM drugs including aspirin from April 2024 to satiate the situation, however, most big firms have denounced the rise as it doesn’t alter the WPI (Wholesale price index )at all. The government is reviewing the DPCO (Drug Price Control Order) to ease this pricing situation.

Europe

The European drug market is considered one of the most customer-friendly across the globe since the major part is covered by the public sector. The European aspirin market mimicked the changes in the Asian market during the first quarter of 2024. The prices were found wavering within a limited range. The German government has proposed a Medical Research Act (Medizinforschungsgesetz or MFG) that aims to introduce changes to pharmaceutical pricing and reimbursement regulations as part of the National Pharma Strategy.

One significant proposal involves allowing pharmaceutical companies to keep reimbursement prices confidential for new drugs, preventing them from being used as reference prices in other countries. Additionally, the Act seeks to eliminate consideration of drug prices in other European countries during German price negotiations and restrict the substitution of confidentially priced drugs with cheaper imports. These changes could impact international drug pricing dynamics and are currently undergoing public consultation before potential implementation in 2025.

North America

The American aspirin market could not behave any differently than its Asian and European counterparts. The price trend exhibited borderline buoyancy here as well. In the USA, the medicine firms have this tradition of raising the drug prices every January. Despite the nominal increases in list prices, the actual net prices, which account for rebates and discounts, have been on a downward trend for approximately six years.

The enactment of the American Rescue Plan Act in 2021 has resulted in unprecedented reductions in list prices for medications. These price adjustments align with ongoing endeavors in the capital aimed at tackling the issue of elevated drug expenses, including initiatives to grant Medicare negotiation authority and to restrict price hikes to inflationary levels.

Analyst Insight

According to Procurement Resource, not much change is anticipated in the Aspirin market prices in the coming months; market dynamics largely look stable for the coming quarter.
 

Aspirin Price Trend for the Q4 of 2023

Asia

In the Asian region, the market outlook was largely optimistic during the last three months of 2023. For aspirin (acetylsalicylic acid) the raw material costs rose as salicylic acid costs inched higher. The said period saw an increase in aspirin consumption and demand as the winter season called for higher flu and cold cases. In China, this rise in both upstream and downstream market dynamics pushed aspirin prices up. Since the manufacturing facilities were also observing fewer working days amidst the Christmas and New Year holiday seasons, there was also a little supply crunch in the market. Overall, the market sentiments were mostly positive throughout the said time.

Europe

Aspirin prices observed an inclination in the European markets as well during the last quarter of 2023. The rise in prices was majorly attributed to the increment in upstream costs. Other than the feedstock prices it was majorly the logistical crisis that upsurged aspirin prices in the European markets.

European ports were witnessing congestion as sailors in the Red Sea were facing frequent pirate attacks. European markets have been import-dependent since the war between Russia and Ukraine started. Domestic manufacturing had become unsustainably expensive for most sectors. Overall, an elevated price curve was observed for Aspirin in the European market.

North America

In the American aspirin market, the prices fluctuated throughout the entire span. Initially, the market began on a lower note as the bulked-up inventories were exerting pressure; however, soon, the prices started rebounding as the demands started going up again. The inventory support also started wavering. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, Aspirin price trends are likely to fluctuate and vary in different regions. The drug market in most countries is highly regulated, so the policies will affect prices along with the market fundamentals.
 

Aspirin Price Trend for the Q3 of 2023

Asia

Aspirin witnessed fluctuating market dynamics in the Asian region during the third quarter of the year 2023. Demands from the pharmaceutical industry primarily influenced the changes in aspirin’s price graph. The supplies in the Chinese market were still struggling because of the incapacitation in production in recent years.

This void gave the price trend a good start at the beginning of the third quarter in July’23. However, the sliding cost support from the upstream situations because of constantly easing freight and processing rates pushed the aspirin prices back for some time in the middle of the quarter. It was stable demands that shifted the aspirin price momentum upwards by the end of the discussed period. Conclusively, a mixed-price behavior was observed in the said quarter for aspirin.

Europe

The European aspirin market trend closely followed the price analysis for the Asian region. The consumption from downstream food, beverage, agrochemical, and pharma industries drove these market trend. The regional prices first rose at the beginning of the quarter, then fell, and then again rose at the end of the quarter. Along with the downstream demands from the consuming sectors, economic inflation, and freight costs also guided these price trend.

North America

The American regional market could not behave any differently than the global aspirin market, and prices wavered throughout the said period. Dependency on Chinese manufacturing was also a big swaying factor. Overall, fluctuating price trend were observed.

Analyst Insight

According to Procurement Resource, the aspirin price trend are likely to continue fluctuating, given the current volatility in the market demands.
 

Aspirin Price Trend for First Half of 2023

Asia

The feedstock of aspirin faced a sharp fall in the first quarter of 2023, which depreciated the aspirin price trend. This reduction in price trend was a consequence of declining demand from the food, pharmaceutical, and healthcare industries.

China also struggled with weak rates of exports and struggling market activities after the pandemic. In addition to this, the slowdown of the global economy and strict monetary policy adopted by the governments to keep the market activities afloat had a negative impact on the aspirin price trend.

Europe

The price trend of aspirin suffered from low demand and the feeble condition of European aspirin markets. The rates of imports from the Asian countries also declined amid low demand, resulting in weak trading activities in the region. In addition to the overall fall in consumption of aspirin in the first and second quarters of 2023, the market also faced the adverse effects of high inflation and interest rates along with falling costs of energy, resulting in a consistent decline in aspirin prices.

North America

In the domestic market, the demand for aspirin declined in the first quarter of 2023, and with ample availability of aspirin in the region, the price trend of aspirin declined in North America. Additionally, the trading sentiments were also negatively affected by weak imports. Reduction in imports was also caused by the weak performance of the US dollar with respect to the Euro, and thus, aspirin prices faced southwards in the first two quarters of 2023.

Analyst Insight

According to Procurement Resource, the price trend of Aspirin is expected to fall in the upcoming quarters as the demand from end-users is declining along with weak global trading sentiments.

Procurement Resource provides latest prices of Aspirin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.