"The high-quality Acetaminophen (Paracetamol) Market report presents CAGR value fluctuations in percentage during the forecast period of 2022-2029 for the Acetaminophen (Paracetamol) Market industry. This report is generated by considering all the major aspects of market research that comprehensively bring the market landscape into focus. Additionally, it includes historic data, current market trends, environmental factors, technological innovations, and progress in the related industry. The Acetaminophen (Paracetamol) Market document comprises detailed data and information providing current and upcoming opportunities to clarify future investments in the market.
By fully understanding the client’s requirements, the finest market research report is provided to them. SWOT analysis and Porter's Five Forces Analysis are two widely used techniques in generating the Acetaminophen (Paracetamol) Market survey report. This not only saves valuable time but also adds credibility to the work conducted to grow the business. This world-class report is the result of a highly enthusiastic and motivated team with expertise in various areas such as research, assessment, analysis, consulting, and development. The market research report serves as a backbone for the growth of any business, whether small or large.
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.
Explore Further Details about This Research Acetaminophen (Paracetamol) Market Report https://www.databridgemarketresearch.com/reports/global-acetaminophen-paracetamol-market
Acetaminophen (Paracetamol) Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | 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) |
Countries Covered | 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 |
Market Players Covered | 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.) |
Market Opportunities |
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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.
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