Paracetamol Market – Global Industry Analysis and Forecast (2023-2029)

Paracetamol Market size was valued at US$ 1.60 Bn. in 2022 and the total Paracetamol revenue is expected to grow at 4.4% from 2023 to 2029, reaching nearly US$ 2.20 Bn.
Paracetamol Market Overview:
Paracetamol is a common painkiller, the most widely used analgesic and antipyretic that relieves pain, and ache and reduces high fever. The drug is typically used for the reduction of pain and lowering the body temperature. Paracetamol is available combined with other painkillers and anti-sickness medicines. It is generally prescribed for pain relief either alone or in a combination with other cold medication. Paracetamol is used to treat many health conditions like headache, muscle aches, arthritis, toothaches, colds/ flu, and high fever. Paracetamol drug is available under a variety of brand names.

The report explores the Paracetamol market's segments (Product Type, Application, and Role of Administration). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Paracetamol market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Paracetamol market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
Paracetamol Market Dynamics:
There are various factors responsible for the growth of the Paracetamol market such as the Increasing need for medicines for pain relief, rising health awareness among the patients, rising applications of Paracetamol, and rising recommendations of Paracetamol by doctors, physicians, etc. Moreover, rising cases of chronic diseases and conditions that need pain management solutions on regular basis are the vital factor escalating the market growth, also driving the Paracetamol market. Rising technological advancements in the manufacturing of Paracetamol, rising research and development activities in the healthcare/ pharmaceutical sector, and rising emerging markets with an increasing elderly population base will further create new opportunities for the Paracetamol market in the forecasted period of 2023-2029.

A key restraint is that regular use of Paracetamol leads to raising the Blood Pressure among the Consumers. Long-term Paracetamol users have a high risk of heart disease and strokes in consumers with high blood pressure. As per the Latest Clinical Study, Paracetamol saw a significant increase in blood pressure of the patient compared with those taking the placebo i.e. any treatment that has no active properties. Another major adverse effect of the high use of Paracetamol is blood disorders, such as thrombocytopenia (low number of platelet cells) and leukopenia (low number of white blood cells).

The COVID-19 pandemic is expected to have a significant impact on the Paracetamol market. A common cold is caused by many different types of viruses, which is harmless and can be resolved within a couple of weeks. Consumer depends upon the OTC drug, to get relief from the common symptoms. The sale of paracetamol drugs for cough, cold, and flu has increased particularly in the emerging markets, such as India and China. Moreover, the rising population suffering from pain and fever, along with growing awareness also serves as one of the primary drivers of the market growth.

Over the recent years, there has been a significant impact on the prevalence of toothaches, neuralgia, sore throat, migraine, colds/ flu, backache, dysmenorrhoea, and rheumatic pain on the paracetamol market as paracetamol can be referred to this. Thus, the Paracetamol market is expected to grow.
Paracetamol Market Segment Analysis:
By the Application, paracetamol belongs to the analgesics group of medicines commonly known as a pain killer, and antipyretics i.e. fever-reducing agents are expected to dominate the market in 2029. The recommendation of paracetamol by doctors helps to boost the market growth for acute pain and ache. Headache and Cold is the second largest application responsible for paracetamol market growth. Tension and stress are responsible for causing a multitude of migraine-related disorders, affecting nearly 21% of people globally. Paracetamol, a cheaper drug is readily available as a counter.

By the role of administration, the Oral route of administration is expected to dominate the market in 2029. The advantages of this route such as self-administration, cost effectiveness, and pain-free & easy intake, among others. Additionally, oral drugs are absorbed along the complete length of the gastrointestinal tract. Furthermore, the use of intravenous paracetamol simultaneously occupied the Market, with opioids having gained increased popularity for postsurgical pain relief over orally administered paracetamol because it provides an immediate peak plasma concentration. The advantage of intravenous paracetamol is thought to provide a faster analgesic effect.

By the product type, a tablet segment of paracetamol is expected to grow at a CAGR of xx% in the forecast period. The additional advantages of tablet form are easy storage, easy intake, cost effectiveness, and more availability.
Paracetamol Market Regional Insights:
Asia-Pacific region dominates the Paracetamol market due to the rising chronic disease burden, increasing need to manage pain, and growing awareness in this region. North America is the second largest region in terms of growth in the Paracetamol market due to rising healthcare spending and the availability of affordable drugs in this region. Europe is expected to dominate the market in terms of revenue in 2029 due to the rising need to manage pain and growing awareness in the region. In tropical regions, cold/ influenza occurs throughout the year. Although the duration and severity of influenza vary, however, it depends on the virus and the subtype involved. This region may help to develop the market.

Furthermore, beneficial governmental initiatives, an increase in the awareness of the healthcare sector among the patients/ consumers, increase in the research and development activities in the healthcare sector are some of the drivers expected to grow the market. A region like the United States has the maximum share in the healthcare sector due to supportive healthcare policies, higher production costs, an increase in the number of patients, etc. developed the market.

The objective of the report is to present a comprehensive analysis of the Paracetamol market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Paracetamol market dynamics, and structure by analyzing the market segments and projecting the Paracetamol market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Paracetamol market make the report investor’s guide.
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Global Paracetamol Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.60 Bn.


Forecast Period 2023 to 2029 CAGR:
4.4%
Market Size in 2029:
US $ 2.20 Bn.


 Segments Covered:
by Product
Tablet
Capsule
Liquid suspension
Powder
Other


by Application
Headache and Fever
Cold and Cough
Muscle Cramps
Others


by Role of Administration
Oral
Rectal
Intravenous
Other



Paracetamol Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Paracetamol Market, Key Players are
1.Mallinckrodt
2.Anqiu Lu'an
3. Granules India
4. Zhejiang Kangle
5. Farmson
6. Hebei Jiheng
7. Novacyl
8. Anhui BBCA Likang
9. Anhui Fubore
10. SKPL
11. Atabay
12. Huzhou Konch
13. Changshu Huagang
14. Anhui Topsun
15. Sino Chemical
FAQs:
1. Which is the potential market for Paracetamol in terms of the region?
Ans. Asia – Pacific Region is the potential market for Paracetamol in terms of the region.

2. What are the opportunities for new market entrants?
Ans. Rising cases of chronic diseases and recommendations of Paracetamol by doctors and Physicians are the key opportunity in the market.

3. What is expected to drive the growth of the Paracetamol market in the forecast period?
Ans. The primary driver of the market is the patients suffering from the Common cold/flu, High Fever, etc.

4. What is the projected market size & growth rate of the Paracetamol Market?
Ans. The Paracetamol Market size was valued at US$ 1.60 Bn. in 2022 and the total Paracetamol revenue is expected to grow at 4.4% from 2023 to 2029, reaching nearly US$ 2.20 Bn.

5. What segments are covered in the Paracetamol Market report?
Ans. The segments covered are Type, Role of Administration, Application, and Region.