In the first quarter of 2023, the global aspirin market experienced a decline in price trends across regions. In Asia, reduced feedstock availability and weakened demand from various industries, including food, pharmaceuticals, and healthcare, contributed to the price drop. Europe saw low demand, struggling trade, and economic factors like inflation impacting aspirin prices. North America faced decreased domestic demand, ample supply, and negative trading sentiments due to weak imports and currency performance. These factors collectively drove the downward trend in aspirin prices during the first two quarters of 2023, reflecting challenges in consumption, trade, and economic conditions across these regions.
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Definition
Aspirin, known chemically as acetylsalicylic acid, possesses analgesic, anti-inflammatory, and antipyretic properties. It functions by inhibiting enzymes involved in producing prostaglandins, which are responsible for pain, inflammation, and fever. Aspirin is used to relieve mild to moderate pain, reduce inflammation, and lower fever. Additionally, its anticoagulant properties make it valuable for preventing blood clot formation and reducing the risk of heart attacks and strokes. However, aspirin may cause gastrointestinal irritation and is contraindicated for individuals with certain medical conditions or allergies.
Key Details About the Aspirin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Aspirin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Aspirin Price chart, including India Aspirin price, USA Aspirin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Aspirin Price Trend:
Aspirin, or acetylsalicylic acid, is primarily known for its medical applications as a pain reliever, anti-inflammatory, and fever reducer. However, it also finds essential industrial uses. Aspirin is employed in the production of various chemicals, including dyes and fragrances. It serves as a key ingredient in the synthesis of salicylic acid, an essential component in the manufacturing of rubber, plastics, and cosmetics. Additionally, aspirin’s anti-coagulant properties make it useful in the production of blood-thinning medications, crucial for preventing blood clots and related medical conditions. These industrial applications underscore aspirin’s multifaceted significance, transcending its reputation as a common over-the-counter medication.
Key Players:
- Bayer
- Novacap
- Shiono Chemical Co
- Chemische Fabrik Weyl Gmbh
- Eli Lily and Co
- Jqc Huayin Pharmaceutical Co Ltd
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