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Global Diclofenac Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ XX Bn by 2028, Likely to Grow with the CAGR of XX% During the Forecast Period.
Diclofenac is a non-steroidal anti-inflammatory drug (NSAID) that is mainly used in the treatment of mild-to-moderate pain & reduces pain, inflammation, swelling, and stiffness. Furthermore, Diclofenac drug is used in treatment for inflammatory disorders such as arthritis, dermatomyositis, osteoarthritis, rheumatoid arthritis, dental pain, spondylarthritis, and gout attacks.
Rise In Prevalence of autoimmune and respiratory conditions Is Anticipated To Drive the Demand For Diclofenac
The major factors which attribute to the growth of the diclofenac market include increasing prevalence of autoimmune and respiratory conditions such as arthritis & dental pain, increasing the adoption of anti-inflammatory drugs along with growing awareness about anti-inflammatory therapeutics, development in R&D activities, and attractive government initiatives in emerging countries.
However, possible side effects of anti-inflammatory drugs and patent expiry issues of drugs may hamper the market growth. While high demand for better and novel anti-inflammatory therapeutics with lesser side effects & better efficacy is expected to provide numerous opportunities for market growth during the forecast period.
The Tablet Segment is Expected to Dominate The Diclofenac Market During the Forecast Period
On the basis of Type, the tablet segment dominates the Diclofenac market, accounted for over XX% of the global revenue share of the Diclofenac market in 2019. And expected to grow at a significant CAGR of XX% during the forecast period. The Diclofenac tablets are largely used in treatment of pain. Furthermore, storage convenience as a tablet form does not require refrigeration is a driving factor for the segment growth.
The Oral Diclofenac Segment is Expected to Witness Highest Growth in the Global Diclofenac Market across the Globe
On the basis of the route of administration, the Oral Diclofenac segment account significant share in the global Diclofenac market. It projected to grow at the highest rate with a CAGR of XX% during the forecast period. Since Diclofenac is a generic drug.
The Asia-Pacific Region Is Projected to Register the Highest Growth In The Diclofenac Market during the Forecast Period
The Asia Pacific accounted for over XX% of global revenue share in 2019 and is expected to be the fastest-growing region at a CAGR of over XX% during the forecast period. Increased technological advances and rising prevalence of inflammatory disorders such as arthritis, dermatomyositis, osteoarthritis, rheumatoid arthritis, dental pain in countries such as China, India, Japan fueling the regional market growth. Diclofenac accounted for a large share of China's NSAID market in the dosage forms of tablets, capsules, injections, externally used gels, compound preparations, etc. There are more than 100 Diclofenac manufacturers have presence in China. According to CRI's market survey, the sales value of Diclofenac in China was about CNY 103 million in 2017 Also, increased investment by the pharmaceutical companies is expected to increase the industry demand.
The global Diclofenac market is fragmented among the number of local and global players. Some of the key players operating in the global Diclofenac market are Auro Laboratories Limited, Henan Dongtai Pharmaceutical Co., Bayer AG, Pfizer Inc., Hunan Warrant Pharmaceutical Co., Ltd, Novartis AG, XianShi Pharmaceutical Group, Merck & Co., Inc., Istituto Biochimico Italiano G. Lorenzini S.p.A., Aarti Industries Ltd and Dezhou Deyao Pharmaceutical Co., Ltd.
Diclofenac Market Key Segments:
Diclofenac Market, By Indication
- Ankylosing Spondylitis
- Rheumatoid Arthritis
Diclofenac Market, By Route of Administration
Diclofenac Market, By Product Type
Diclofenac Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America