Ibuprofen Price Trend and Forecast

Ibuprofen Regional Price Overview

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

Ibuprofen Price Trend for the Q2 of 2024

Asia

Ibuprofen is a widely used nonsteroidal anti-inflammatory drug (NSAID) that is commonly employed to relieve pain, reduce inflammation, and lower fever. Industrially, ibuprofen holds significant importance in the pharmaceutical sector as a key over-the-counter medication and is also used in prescription formulations for higher dosages or specific conditions. The manufacturing process is subject to stringent quality control measures to ensure safety, efficacy, and compliance with regulatory standards.
 

Ibuprofen Price Chart

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Along with the production, the market prices for Ibuprofen and other similar pharma drugs are also highly regulated since the availability of such high-usage medication is the responsibility of the State authorities. During the said quarter of 2024, ibuprofen prices in Asia were mostly range-bound. However, The Indian government 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) relaxed the prices for Ibuprofen slightly for end consumers.

Europe

In the European markets any dramatic fluctuations were not seen in Ibuprofen prices as most European countries provide subsidies and cover healthcare for their people.  However, supply chain curtailments and shipment availability remained a concern. A coalition of six E.U. member states—Czechia, Cyprus, Malta, Romania, Slovakia, and Slovenia—put out concerns regarding excessive national stockpiling of medicines by some member countries that could lead to significant shortages in other E.U. regions. The E.U. Health Council meeting on June 21 highlighted that while securing medicine supplies is crucial, extreme stockpiling can disrupt E.U. solidarity and the single market. Overall, Ibuprofen prices remained consolidated throughout the given period.

North America

In the second quarter of 2024, Ibuprofen prices in the U.S. remained stable, although rising drug and healthcare costs continued to be a significant subject of debate. Studies indicate that prescription drug prices have increased by about 37% over the past ten years. Although the rate of increase has slowed this year, prices remain high, leading to higher out-of-pocket expenses for consumers. The U.S. Federal Trade Commission (FTC) has noted that consolidation in the pharmacy and health insurance industries has given a few pharmacy benefit managers (PBMs) considerable control over drug prices, impacting both small pharmacies and consumers.

Analyst Insight

According to Procurement Resource, not much variation is expected in Ibuprofen prices going forward as the markets project confinement in the short term.
 

Ibuprofen Price Trend for the Q1 of 2024

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

Asia

In February, Ibuprofen prices in China surged due to increased bulk orders and heightened procurement from regional and international markets following the conclusion of the Lunar New Year celebrations. The swift resumption of production post-maintenance, coupled with reduced Ibuprofen inventories, intensified price pressure, prompting stock replenishment and appreciation in the price trend of ibuprofen.

The Chinese yuan's depreciation against the USD also contributed to this uptick in the price trend of ibuprofen. However, the initial phase of the quarter registered only a slow growth of the market due to maintenance shutdown of a number of production units and loss of trade amid the Chinese New Year and Spring holiday season. On the other hand, the post-holiday market reopening witnessed a rebound in demand, bolstering prices amid heightened consumer confidence and purchasing activities.

Europe

As Q1 2024 began, the global Ibuprofen market anticipated a significant price increase driven by the strong demand from suppliers and increased consumer confidence in downstream sectors. These improved dynamics led to the rise in bulk orders for inventory replenishment, creating a demand-supply imbalance in the region, with demand surpassing the mild supply by several folds. Additionally, the disruptions in shipping routes around the Red Sea and the Gulf of Aden led to the diversion of vessels, resulting in higher freight charges.

These challenges, along with tensions in the Red Sea and Suez Canal, have caused delays, route changes, and increased costs throughout the pharmaceutical supply chain. The interconnectedness of global trade means that disruptions in exporting nations, particularly India, exerted a negative influence on the European markets, which is a major importer of Ibuprofen.

North America

In the United States, Ibuprofen prices surged notably during the middle of the first quarter after registering a slow start, as observed in the Asian countries. The warmer weather conditions since January stimulated economic activity, contributing to increased demand for the commodity. However, external factors like disruptions in shipping routes, particularly in the Red Sea region due to attacks by Houthi rebels, led to a surge of over 150% in shipping costs and delays in delivery times.

The US, heavily reliant on China as a major exporter, thus faced supply chain disruptions and increased freight charges, further driving up Ibuprofen prices. Additionally, rising prices for raw materials in the US market added to production costs and maintained robust market sentiment. However, the traders and manufacturers anticipated that the Ibuprofen prices would continue to increase throughout and, therefore, raised their production volumes.

Analyst Insight

According to Procurement Resource, the price trend of Ibuprofen is expected to be driven by favorable winds in the downstream pharmaceutical industries and rising prices of feedstock materials in the next quarters.
 

Ibuprofen Price Trend for October - December of 2023

Asia

In Asia, particularly China, the Ibuprofen price trend during the fourth quarter of 2023 exhibited a complex dynamic. The Asian market maintained a relatively stable trajectory. This stability can be attributed to China's strategic management of supply and demand, influenced by the global alignment of Ibuprofen prices. The reduced costs in key raw materials, such as Acetic acid and Propionic acid, contributed to this equilibrium. However, downstream buyer enthusiasm diminished slightly due to the price declines, signaling a cautious approach in the market.

Overall, while the prices remained stable, there was a noticeable vigilance among manufacturers and suppliers in response to the global economic conditions and domestic market trend. Towards the end of the quarter, the Asian ibuprofen market stabilised owing to stable demand outlook and amped up domestic production along with the surge in Ibuprofen API prices.

Europe

Europe ibuprofen price trend was more or less static and stable during the last quarter of 2023 and followed the exporting countries’ trend. The region saw a gradual increase in Ibuprofen prices, mainly driven by the global trend and its dependence on exports. The increase in demand, especially during the holiday season, contributed to this uptick. Furthermore, the stable demand in the pharmaceutical and healthcare sectors ensured a steady market.

European market dynamics were also influenced by the global supply chain, particularly the availability and pricing of raw materials like Acetic and Propionic acids. Manufacturers navigated these challenges by adjusting their pricing strategies, leading to a moderate but steady price increase in the Ibuprofen market.

North America

In North America, the Ibuprofen price trend in Q4 2023 was relatively positive (overall) amidst the complex global trend, with prices initially showing signs of fluctuation. The market faced challenges due to the oversupply situations observed in Asia and the global deflationary pressures. However, as the quarter progressed, there was a trend towards stabilization and a gradual increase in prices. This was partly due to strategic management by key pharmaceutical companies, which balanced the supply-demand dynamics.

The increase in consumer confidence in November, reflecting a positive outlook on the economy, also played a significant role in boosting Ibuprofen demand. By the end of the quarter, the North American market showed signs of adapting to the global trend, with manufacturers and suppliers adjusting their strategies to maintain market share and respond to the changing dynamics.

Analyst Insight

According to Procurement Resource, the global ibuprofen prices will largely depend on the API price trend. The demand is expected to majorly mirror the trend seen throughout 2023. However, drug regulations and enmeshed supply dynamics can dramatically affect the price trend for ibuprofen.
 

Ibuprofen Price Trend for the July - September of 2023

Asia

Ibuprofen, a commonly used anti-inflammatory drug, experienced a balanced market behavior during the third quarter of the year 2023. Along with the core pharmaceutical purposes, the cosmetics, skincare, and athletic industries also use Ibuprofen for various reasons. Hence, because of is a well-known generic medicine, the demands usually swing between moderate to high levels, and the concerned span of Q3’23 also witnessed an elevated demand graph for Ibuprofen for the entire period. However, healthy competition between various pharma companies kept the Ibuprofen prices at moderate levels. The quarterly pricing data of the third quarter indicates healthy supply and demand dynamics during the said period. The general market sentiments, too, were observed to be positive.

Europe

The European Ibuprofen market also reflected stability in price trend. One primary reason was the European dependency on Asian exports in the pharma sector, especially for such generic medicines. The market offtakes were totally at parity with the supply flow, which further strengthened the plateaued trajectory of Ibuprofen prices. Overall, the European Ibuprofen market remained anchored.

North America

The North American market trend for Ibuprofen were no different from its Asian and European counterparts. The prices wavered positively, as seen in the Ibuprofen price graph. The supply and demand equation for the given quarter worked in favor of the market stakeholders as the consistency in demand dynamics and overall stability in the Ibuprofen market substantially reduced the market risks. Overall, positive market behavior was observed during the given period.

Analyst Insight

According to Procurement Resource, the Ibuprofen market is likely to rise in the coming months as the demand outlook is projecting promising outcomes.
 

Ibuprofen Price Trend for the First Half of 2023

Asia

The price trend of ibuprofen was supported by a high number of orders from pharmaceutical industries and increased shipments to domestic and international markets. The Chinese market revived its production activities after a long stretch of lunar holidays that had a positive impact on the demand sentiments for ibuprofen.

In the second quarter, however, the price trend declined significantly with a reduction in export rates and the slowing down of the global economy. The Chinese government thus adopted measures to deal with a falling economy, which resulted in high-interest rates and a rise in inflation, hampering the growth of the ibuprofen price trend.

Europe

The ibuprofen market was stable in the first quarter of 2023 as the pharmaceutical industries showed high demand, while the inventories were not sufficient to curb this. The European currency also inclined with respect to the US dollar, supporting the rise in prices of ibuprofen. The trend did not follow the same trajectory in the second quarter as the demand declined, which further reduced the number of imports. The supply chains also worked efficiently, reducing the freight charges and reducing the cost of energy; the price trend of ibuprofen faced southwards.

North America

In North America, the price trend of ibuprofen inclined in the first quarter as the trading activities inclined and procurement rates of pharmaceutical industries also improved.

However, as observed in the European and Asia-Pacific nations, the price trend of ibuprofen declined in the second quarter. The end-user industries witnessed a fall in the number of sales that, in turn, increased the level of inventories. The fall in price trend was further aided by the struggling market dynamics.

Analyst Insight

According to Procurement Resource, the price trend of Ibuprofen is expected to face southwards as the demand from downstream industries is declining consistently due to a lack of sales, and the rising level of inventories will also have a negative impact on the ibuprofen price trend.

Procurement Resource provides latest prices of Ibuprofen. 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.