Paracetamol Market is expected to reach US$ 14,254.44 million by 2030

Publisher: The Insight Partners

Tablet, by Dosage Form, to Dominate Paracetamol Market During 2022–2030

According to our new research study on "Paracetamol Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market is expected to grow from US$ 9,993.29 million in 2022 to US$ 14,254.44 million by 2030; it is anticipated to record a CAGR of 4.5% from 2022 to 2030. Key factors driving the market are the high prevalence of pain and fever conditions and rising consumer preference for over-the-counter (OTC) medications. However, the effects of paracetamol overdose hinder the growth of the market.

Paracetamol is commonly utilized for alleviating mild to moderate pain and controlling fever with significant efficacy. According to the US Food and Drug Administration (FDA), acetaminophen (paracetamol) is the most preferred drug to treat fever and pain. The high prevalence of infectious diseases fuels the demand for paracetamol. According to the World Health Organization (WHO), seasonal influenza causes 290,000–650,000 deaths annually across the world. Similarly, as per CDC estimates, the cases of illnesses caused by influenza rose from 9.4 million to 41 million in the US during 2010–2022. Paracetamol is combined with other medications to treat conditions such as cough, cold, flu, and allergy. Similarly, drugs containing a combination of paracetamol and other active ingredients are widely prescribed to treat severe pain. For instance, its combination with nimesulide or diclofenac is used for the treatment of conditions such as fever, muscle pain, dental pain, headache, ankylosing spondylitis, mild migraine, rheumatoid arthritis, osteoarthritis, and painful menses. Similarly, paracetamol, in combination with aceclofenac and serratiopeptidase, is used to lower swelling and relieve pain in muscle pain, postoperative pain, joint pain, and other conditions. Therefore, as the prevalence of such health issues continues to rise globally, the demand for paracetamol as a widely trusted and accessible pain relief option contributes significantly to its demand. Thus, the growing incidence of pain-related ailments and fever propels the paracetamol market growth.

Paracetamol Market, by Region, 2022 (%)

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Source: The Insight Partners Analysis

Apart from factors driving the market, the paracetamol market report showcases the developments of prominent players. Mallinckrodt Pharmaceuticals; GSK plc; Teva Pharmaceutical Industries Ltd.; Sun Pharmaceuticals; Sanofi; Micro Labs Limited; Cipla Inc.; B. Braun Medical Inc.; Dr. Reddy’s Laboratories Ltd; and Fresenius Kabi are among the key companies operating in the market. The companies have been implementing various strategies that contributed to their growth and led to various changes in the market. The companies implement organic strategies such as launches, expansions, and product approvals, and inorganic strategies such as collaborations and partnerships, which enhances the paracetamol market growth.

The paracetamol market forecast can help stakeholders plan their growth strategies. In October 2023, the Minister for Mental Health and Older People in Ireland launched a new campaign to promote safe paracetamol sales in pharmacy and non-pharmacy retail settings. The campaign has been launched to make new sets of information available for employees from these settings. The program also intends to raise awareness of paracetamol-related intentional drug overdose among pharmacy and non-pharmacy retail staff in Ireland.

Similarly, in April 2022, IOL Chemicals & Pharmaceuticals Ltd commenced the commercial production of “Paracetamol” with an installed capacity of 1800 MTPA and backward integration of Para Amino Phenol (PAP). The company manufactures paracetamol in its existing Unit No. 4, which has been converted as a multiproduct facility, costing ~US$ 1.2 million (nearly INR 100 lakh). On the other hand, PAP is being manufactured in a part of Unit No 9. The company shall continue to use Unit 4 and Unit 9 to manufacture other products as per market conditions.

The “paracetamol market analysis” has been carried out by considering the following segments: dosage form, indication, route of administration, and distribution channel.

Based on dosage form, the market report is differentiated into tablets, capsules, and others. The tablets segment held the largest paracetamol market share in 2022 and is anticipated to grow at the fastest CAGR during 2022–2030.

By indication, the market is segmented into fever, cold and cough, mild and moderate pain, and others. The fever segment held the largest share of the market in 2022. The mild and moderate segment is anticipated to register the highest CAGR from 2022 to 2030.

In terms of the route of administration, the market is bifurcated into enteral and parenteral. In 2022, the enteral segment held a larger market share in market and is anticipated to register a higher CAGR during 2022–2030.

Based on distribution channel, the paracetamol market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2022, the retail pharmacies segment held the largest market share and is anticipated to register the highest CAGR during 2022–2030.

The scope of the paracetamol market report covers North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In terms of revenue, North America dominated the paracetamol market share.

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