The global Paracetamol market volume was roughly 145 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.5% during the forecast period until 2034.
Paracetamol, also known as acetaminophen or N-acetyl-paminophenol, is a widely utilized over-the-counter medication for pain relief and fever reduction. Classified as a mild analgesic, it is commonly employed to remove headaches, minor aches, and pains, and is a key ingredient in numerous cold and flu remedies. Paracetamol is used for reducing fever in individuals of all ages. It holds a well-established role in paediatric medicine as an effective analgesic and antipyretic. Unlike aspirin, which can cause gastric irritation and acts as a blood thinner, paracetamol lacks these effects, making it a preferred option for individuals with concerns about blood clotting. However, unlike aspirin, paracetamol does not possess anti-inflammatory properties. While generally considered safe within recommended doses, acute overdoses may lead to potentially fatal kidney, brain, and liver damage, highlighting the importance of adherence to dosage guidelines.
The paracetamol market is driven by various factors. Firstly, the increasing incidence of pain and fever-related disorders, such as headaches, arthritis, and fever, drives the demand for paracetamol globally. Concurrently, the expanding healthcare expenditure, particularly in emerging economies, propels the consumption of over-the-counter and prescription medications, including paracetamol. Moreover, the growing geriatric population, prone to various ailments requiring pain relief, contributes significantly to market growth. Additionally, the rising trend of self-medication, driven by heightened consumer awareness and access to healthcare information, fosters increased paracetamol usage. Continued product innovations and formulation enhancements by pharmaceutical companies, offering extended-release tablets and combination medications, cater to diverse consumer needs and drive market expansion. Furthermore, the widespread availability and accessibility of paracetamol over the counter in various forms further bolster its market penetration. Lastly, urbanization and lifestyle changes, characterized by higher stress levels, sedentary habits, and unhealthy dietary patterns, contribute to an increased incidence of pain-related conditions, thus sustaining demand for paracetamol. The global Paracetamol market is likely to reach approximately 235 thousand tonnes in 2034.
Geographically, North America stands as the largest consumer of Paracetamol for several reasons. Firstly, it boasts a well-established healthcare infrastructure and high healthcare expenditure, facilitating widespread access to pharmaceuticals like Paracetamol. Additionally, the region has a large aging population, which often requires pain relief medications for chronic conditions, contributing to the high consumption levels. Furthermore, changing lifestyles and increasing instances of pain-related disorders, coupled with rising awareness about medication, further drive demand. Looking ahead, North America is anticipated to maintain its dominance and witness continued growth in the Paracetamol market, fueled by factors such as increasing healthcare needs, product innovation, and favorable regulatory environments.
Based on end-use applications, the global Paracetamol market is divided into Headache & Fever, Muscle Cramps, Cold & Cough, and Others. Among these industries, Headache & Fever is the major application. In 2023, this application had a market share of roughly 40%.
Major players in the Global Paracetamol market are Anqiu Luan Pharmaceutical Co. Ltd., Sun Pharmaceuticals Industries ltd, Biological E. Ltd., Cipla Ltd., GlaxoSmithKline Plc, Granules India Ltd., Mallinckrodt Plc, Sanofi SA, Dr. Reddy's Laboratories, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Paracetamol which covers production, demand and supply of Paracetamol market in the globe.
• To analyse and forecast the market size of Paracetamol
• To classify and forecast Global Paracetamol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Paracetamol market in the globe.
To extract data for Global Paracetamol market, primary research surveys were conducted with Paracetamol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Paracetamol market over the coming years.
ChemAnalyst calculated Paracetamol demand across the globe by analyzing the volume of Paracetamol consumed by the End-Use Applications and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Paracetamol manufacturers and other stakeholders
• Organizations, forums and alliances related to Paracetamol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Paracetamol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Paracetamol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
41 thousand tonnes
Market size Volume in 2034
57 thousand tonnes
Growth Rate
CAGR of 2.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use Application, Demand by Region, Demand by Distribution Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use Application: (Headache & Fever, Muscle Cramps, Cold & Cough, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Paracetamol in terms of volume in 2023?
Ans:
The global market size of Paracetamol has reached approximately 41 thousand tonnes in 2023.
Q2.
Which region is the leading consumer of Paracetamol?
Ans:
Asia Pacific region is the leading consumer of Paracetamol globally.
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