Global Acetaminophen (Paracetamol) Market, By Type (Veterinary Drug Grade and Acetaminophen Grade), Product Type (Tablet, Capsule, Liquid Suspension, Powder), Application (Chemical Industry, Pharma Industry, Others), Role of Administration (Oral, Rectal, Intravenous) – Industry Trends and Forecast to 2030.
Acetaminophen (Paracetamol) Market Analysis and Size
The use of intravenous paracetamol, NSAIDs, and narcotics has been gaining much popularity and acceptance, boosting the market's growth. There is a wide availability of advanced treatments and technological developments that have increased longevity which is helpful for the elderly. Furthermore, the pain indication segment dominated the industry for a few years and accounted for huge overall revenue as it is widely used for relieving pain.
Data Bridge Market Research analyses that the acetaminophen (paracetamol) market is expected to reach USD 1,031.7 million by 2030, which was USD 731.05 million in 2022, and is expected to undergo a CAGR of 4.40% during the forecast period 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Acetaminophen (Paracetamol) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Veterinary Drug Grade and Acetaminophen Grade), Product Type (Tablet, Capsule, Liquid Suspension, Powder), Application (Chemical Industry, Pharma Industry, Others), Role of Administration (Oral, Rectal, Intravenous)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Farmson Pharmaceutical Gujarat Pvt. Ltd. (India), Granules India Limited (India), Hebei Jiheng Pharmaceutical Co., Ltd (China)., Mallinckrodt (U.K.), Zhengzhou Sino Chemical Products Co., Ltd (China), Haihang Industry (China), and BOC Sciences (U.S.)
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Market Opportunities
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Market Definition
Acetaminophen is usually known as paracetamol, the most extensively used analgesic and antipyretic that relieves pain and minimizes fever. It was discovered in 1877, and the drug is usually used for mild to moderate pain. It is normally prescribed either alone or in combination with other antibiotics. It observed that when given intravenously, paracetamol acts as an effective treatment option in relieving pain and provides rapid relief.
Acetaminophen (Paracetamol) Market Dynamics
Drivers
- Growing Incidence of Chronic Diseases
An increase in the prevalence of chronic diseases enhances market growth. In 2019, according to the International Diabetes Federation, about 463 million people worldwide were diagnosed with diabetes. Besides cancer, several other chronic diseases have shown increased prevalence rates. Thus, the increasingly high prevalence of cardiovascular diseases and other chronic disorders requires proper treatment management to increase patient outcomes. Thus, these increasing chronic disease cases surge the market's need and growth.
- Growing Approvals from Authorized Organizations
There have been increasing product approvals which boost the market growth. For instance, in 2021, the U.S. FDA accepted the NDA for Maxigesic IV by Hyloris Pharmaceuticals SA. It is a unique mixture of 1000 mg paracetamol and 300mg ibuprofen solution for infusion for treating patients with postoperative pain. Such application acceptance by the regulatory authorities may cause the manufacturing and development of new products into the market in the future. Thus, these approvals are helping in the faster adoption of paracetamol.
Opportunities
- Rapidly Increasing Health Care Expenditure
Healthcare spending has increased on a large scale in the U.S. in the past few years. According to the Journal of the American Medical Association (JAMA), healthcare expenditure in the U.S. increased by almost a trillion dollars between 1996 and 2015. It was further said that healthcare expenditure in the U.S. during 2017 was about $3.5 trillion, i.e., $11,000 per person. These high expenditures are expected to be $6 trillion, approximately $17,000 per person, by 2027. This factor is boosting the market growth.
- Increasing Prevalence of Influenza
Paracetamol is widely used by people suffering from high temperatures and the aches and pains of the flu. The duration and severity of influenza epidemics may vary based on the virus subtype involved. Furthermore, according to WHO January 2022 update, the WHO GISRS laboratories tested more than 317,198 samples from 27th December 2021 to 9th January 2022. There were around 16,862 people who tested positive for influenza viruses, wherein 10,744 (63.7%) were typed as influenza A and 6,118 (36.3%) as influenza B. Thus, this increasing prevalence rate demands paracetamol for quick pain relief. This increases the market growth.
Restraints/Challenges
- Unavailability of Appropriate Treatments
The requirement of high investment for the production of paracetamol is due to the process, which needs extremely systematic protocols that leads to the outsourcing of various paracetamols. The low and middle economic countries cannot afford it. Thus, there is more demand for low-cost alternatives in low- and middle-income countries in Asia Pacific, Africa, and Latin America.
This acetaminophen (paracetamol) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the acetaminophen (paracetamol) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2022, IOL Chemicals and Pharmaceuticals initiated commercial production of paracetamol with an installed capacity of 1800 MTPA and backward integration of Para Amino Phenol (PAP).
- In 2022, Paraveganio became one of the first medicinal products in the world to be registered with The Vegan Society's Vegan Trademark. The certified vegan drug includes 500mg of the proven active ingredient paracetamol.
Global Acetaminophen (Paracetamol) Market Scope
The acetaminophen (paracetamol) market is segmented on the basis of type, product type, application and role of administration. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Veterinary Drug Grade
- Acetaminophen Grade
Product Type
- Tablet
- Capsule
- Liquid Suspension
- Powder
Application
- Chemical Industry
- Pharma Industry
- Others
Route of Administration
- Oral
- Rectal
- Intravenous
Acetaminophen (Paracetamol) Market Regional Analysis/Insights
The acetaminophen (paracetamol) market is analyzed and market size insights and trends are provided by type, product type, application and role of administration as referenced above.
The major countries covered in the acetaminophen (paracetamol) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is dominating the market in the forecast period due to increasing healthcare spending and the availability of affordable drugs in this region. Also, the growing need to manage pain and increasing awareness in this region is boosting the market's growth.
Asia-Pacific is considered the most lucrative period due to the rising chronic disease burden, increasing need to manage pain, and growing awareness in this region. Also, the presence of major market players and the high incidence of fever, headaches, and migraines in the region are boosting the market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Acetaminophen (Paracetamol) Market Share Analysis
The acetaminophen (paracetamol) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to acetaminophen (paracetamol) market
Key players operating in the acetaminophen (paracetamol) market include:
- Farmson Pharmaceutical Gujarat Pvt. Ltd. (India)
- Granules India Limited (India)
- Hebei Jiheng Pharmaceutical Co., Ltd (China)
- Mallinckrodt (U.K.)
- Zhengzhou Sino Chemical Products Co., Ltd (China)
- Haihang Industry (China)
- BOC Sciences (U.S.)
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