Celecoxib Market Size, Share, Growth, And Industry Analysis By Type (50mg, 100mg, 200mg, And 400mg) By Application (Rheumatoid Arthritis, Osteoarthritis, Acute Pain, And Musculoskeletal Pain), Regional Forecast To 2031

Updated On: 08 April 2024

Celecoxib Market REPORT OVERVIEW

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The global celecoxib market size was USD 1243.6 million in 2021 and is projected to touch USD 2866.7 million by 2031, exhibiting a CAGR of 8.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with celecoxib experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A COX-2 inhibitor, celecoxib is a distinct category of nonsteroidal anti-inflammatory medication (NSAID). It works primarily by selectively inhibiting coX-2 to reduce the formation of prostaglandins, which have both anti-inflammatory and analgesic effects. It functions by lowering hormones in the body that lead to pain and preventing the body from producing some natural inflammatory molecules. This result aids in reducing edema, discomfort, or temperature.

Ankylosing spondylitis, arthritis, and menstruation cramps are just a few of the ailments that celecoxib is used to treat. Children who are at least 2 years old can use celecoxib to treat juvenile rheumatoid arthritis. Additionally, it is applied to the colon's hereditary polyps. Migraines can be treated with this drug. It aids in the reduction of pain, discomfort, and other migraine symptoms. The recovery from the injury is faster as it is aided by prompt celecoxib treatment, which may also reduce the need for more painkillers. Growing use of the substance for various medical conditions will boost the global market growth.

COVID-19 Impact: Halt on Manufacturing and Lower R&D led to Slower Market Growth

The sudden emergence of the COVID-19 pandemic prompted the implementation of strict lockdown regulations across several nations, resulting in numerous social and economic disruptions in the market. The pandemic caused several roadblocks in production due to supply chain disruptions, raw material unavailability, workforce shortages, and strict government protocols. The pandemic also led to lower research and development involving celecoxib, which limited the market potential. However, celecoxib is one of the most popular drugs in the international market. In the upcoming years, the celecoxib market growth will reach a considerable rate.                                                                                                                              

LATEST TRENDS

"Increasing Regulatory Approvals to Boost Market Share"

Drug company Unichem Laboratories reported that the U.S. FDA has given the approval for the distribution of generic Celecoxib capsules, which are used to treat osteoarthritis, rheumatoid arthritis, and acute pain. The United States Food and Drug Administration (USFDA) has approved the company's Celecoxib capsules in dosages of 50 mg, 100 mg, 200 mg, and 400 mg through an expedited new drug application (ANDA). Growing approval of celecoxib by regulatory authorities for the treatment of arthritis as well as other disorders will drive the celecoxib market forward.

Celecoxib Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: 50mg, 100mg, 200mg, and 400mg. The 50mg segment is expected dominate the market share through 2031.

• By Application Analysis

Based on application, the market is segmented as follows: Rheumatoid arthritis, osteoarthritis, Acute pain, and Musculoskeletal pain. Rheumatoid arthritis segment is anticipated to hold the dominant market share during 2023-2031.

DRIVING FACTORS

"Rise in Acute Pain Condition to Facilitate Market Development"

Acute pain has become a common occurrence across millions of individuals across the world. Lower back pain is one of the most common types of acute pain across people from various age groups. More disability is caused by low back pain than by any other condition worldwide. Acute pain is very common among individuals, especially old people. According to one study, lower back pain was the most prevalent form of pain experienced by patients, with 25% of American adults experiencing it during the previous three months. Individuals requiring medical attention are administered with celecoxib to treat acute lower back pain. Therefore, growing application for the treatment of acute pain will benefit the market outlook.

"Demand for Celecoxib in Treatment of Arthritis to Promote Industry Progress"

The celecoxib medication has fewer gastrointestinal adverse effects than conventional non-steroidal anti-inflammatory medicines and is used to treat the symptoms and physical manifestations of osteoarthritis and Rheumatoid arthritis in adults. According to data, more than 400 million individuals worldwide are now afflicted with joint ailments. Osteoarthritis affects 17% of 40-year-olds, 62% of 60-year-olds, and 81% of 75-year-olds. An increase in demand for celecoxib to treat patients with joint diseases will certainly fuel the celecoxib market size.

RESTRAINING FACTORS

"Several Allegoric Reactions to Hinder Market Growth"

Though there are plenty of ailing qualities in celecoxib, some patients might prompt to get allergic reactions. Celebrex may raise the risk of fatal myocardial infarction, stroke, and other major cardiovascular thrombotic events. The danger may be the same for all NSAIDs. The length of usage may raise this risk. Patients who already have cardiovascular disease or who have risk factors for developing it might be more vulnerable. Side effects include serious skin responses, serious liver issues, and serious kidney problems may be experienced in addition to heart-related dangers like heart attack and stroke. These risk factors may limit the celecoxib market growth.

Celecoxib Market REGIONAL INSIGHTS

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"Increase in Health Conditions to Propel Market Progress in Asia Pacific"

More than 100 million people, or over 10% of the population in mainland China suffers from arthritis, which is more common as people become older and whose patient population is continually growing. Because of aging populations, the prevalence of chronic illnesses is expected to rise by 40%. Drugs for reducing inflammation and rheumatoid arthritis will experience substantial demand as the population in this region ages. Due to similar trends across various Asia Pacific countries, Asia Pacific is forecasted to control the majority of the global celecoxib market share in the forthcoming years.

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the celecoxib market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Pfizer Inc (U.S.)
• Teva (Israel)
• Mylan (U.S.)
• Apotex (Canada)
• Lupin (U.S.)
• Hengrui Medicine (China)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants, including the market and potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.