Paracetamol Market to grow by USD 791.9 million from 2022 to 2027, North America accounts for 37% of market growth- Technavio

NEW YORK, Jan. 17, 2024 /PRNewswire/ -- The paracetamol market is expected to grow by USD 791.9 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of  8.78% during the forecast period, according to Technavio Research. The market is segmented by application (surgical and non-surgical), formulation (powder and granules), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America accounts for 37% of the growth of the global paracetamol market during the forecast period. North America holds a dominant position in the market, primarily led by the United States and Canada, contributing significantly to revenue. The surge in demand for paracetamol as an active pharmaceutical ingredient (API) for the production of various over-the-counter (OTC) drugs, particularly analgesics and antipyretics, plays a pivotal role in driving market growth.

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Company Profile:
Anhui Fubore Pharmaceutical And Chemical Co. Ltd., Anqiu Luan Pharmaceutical Co. Ltd., ATABAY KIMYA SANAYI TICARET AS, Biological E. Ltd., Cipla Ltd., GlaxoSmithKline Plc, Granules India Ltd., Mallinckrodt Plc, Sanofi SA, SEQENS GROUP, Sri Krishna Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Trugen Pharmaceuticals Pvt Ltd., Zhejiang Kangle Pharmaceutical Co. Ltd., and Zhengzhou Sino Chemical Co. Ltd.

Anhui Fubore Pharmaceutical And Chemical Co. Ltd: The company is involved in the manufacturing of paracetamol, glucuronolactone, acetylacetone, and pyrazolone.

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Paracetamol Market: Segmentation Analysis

The market share growth by the surgical segment is significant during the forecast period. The surgical segment of the market pertains to the perioperative application of paracetamol for pain management in surgical patients. 

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"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Paracetamol Market: Driver:

The rising prevalence of chronic conditions and prescription drug use drives the market growth. The healthcare sector is experiencing continuous growth, fueled by the prevalence of chronic diseases and the popularity of pain relievers. The World Health Organization reports that oral diseases afflict approximately 3.55 billion people globally, causing pain and suffering.
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The global Paracetamol (Acetaminophen) market is primarily driven by its widespread use as an analgesic and antipyretic for pain relief and fever reduction. As a staple in over-the-counter (OTC) pharmaceuticals, Paracetamol is essential in both pediatric and adult dosages for pain management and fever treatment, including chronic pain, headache relief, and as an adjunct in cold and flu remedies. The demand for both generic and brand-name Paracetamol underlines its significance in consumer healthcare and the broader drug industry. This growth is further fueled by ongoing research and development (R&D), ensuring continual improvements in pharmaceutical manufacturing and regulatory compliance. Additionally, the health care sector's focus on accessible non-prescription medications reinforces Paracetamol's status in the pharmaceutical market. Market trends indicate a steady global demand, though the supply chain dynamics can impact availability. The therapeutic uses of Paracetamol remain a cornerstone in painkiller options, influencing both market trends and the direction of new pharmaceutical developments.

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What are the key data covered in this paracetamol market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the paracetamol market between 2022 and 2027.
• Precise estimation of the paracetamol market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the paracetamol market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of paracetamol market players.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Formulation

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio