Market Size
Global Paracetamol Market reached US$ 10.5 billion in 2023 and is expected to reach US$ 14.59 million by 2031, growing at a CAGR of 4.3% during the forecast period 2024-2031.
Paracetamol (acetaminophen) is a non-opioid analgesic and antipyretic agent used to treat fever and mild to moderate pain. It is a widely used over-the-counter medication. Common brand names include Tylenol and Panadol. Paracetamol relieves pain in both acute mild migraine and episodic tension headache.
The aspirin/paracetamol/caffeine combination also helps with both conditions where the pain is mild and is recommended as a first-line treatment for them. Paracetamol is effective for post-surgical pain, but it is inferior to ibuprofen. The paracetamol/ibuprofen combination provides further increase in potency and is superior to either drug alone.
Market Scope
| Metrics | Details |
| CAGR | 4.3% |
| Market Size | 2022-2031 |
| Market Estimation Forecast Period | 2024-2031 |
| Revenue Units | Value (US$ Mn) |
| Segments Covered | Dosage Form, Application, and Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics: Drivers
Increasing prevalence of fever and pain-related disorders
The rising prevalence of fever and pain-related disorders propels the market growth. For instance, according to the CDC, an estimated 11–21 million cases of typhoid fever and 5 million cases of paratyphoid fever occur worldwide each year, causing an estimated 135,000–230,000 deaths. In the United States 400 culture-confirmed cases of typhoid fever and 50–100 cases of paratyphoid fever caused by Paratyphi A were reported each year; paratyphoid fever caused by Paratyphi B and Paratyphi C is rarely reported.
Approximately 85% of typhoid fever and 92% of paratyphoid fever cases in the United States occur among international travelers; most are in travelers returning from South Asia, primarily Bangladesh, India, and Pakistan. Other high-risk regions for infection include Africa, Latin America, and Southeast Asia; lower-risk regions include East Asia and the Caribbean. The increase in the number of fevers, pain related disorders acts as a major driving factor for paracetamol market.
Restraints
Factors such as side effects associated with paracetamol are expected to hamper the market. Side effects such as swelling of the skin, drowsiness, rapid heartbeat, and increased blood pressure are observed in some cases.
Market Segment Analysis
The global paracetamol market is segmented based on dosage form, application, distribution channel, and region.
The segment tablet accounted for approximately 47% of the global paracetamol market share
The tablet segment is expected to hold the largest market share over the forecast period. In this segment, technological advancements, and rising funds for private manufacturers for research work would drive this market.
The tablet form of paracetamol is one of the most widely used forms of paracetamol due to its ease of route of administration. For instance, in July 2023, Granules India received USFDA approval for the OTC equivalent of Advil Dual Action tablets. The approved drug is called Acetaminophen and Ibuprofen tablets, with a strength of 250 mg/125 mg, and it can be purchased over the counter (OTC).
Market Geographical Share
North America accounted for approximately 42% of the global paracetamol market share
North America region is expected to hold the largest market share over the forecast period. The rising incidence of fever and pain related disorders, and technological advancements, in this region, help to propel the market.
For instance, according to an article published by HealthDay News in October 2023, arthritis is becoming a disease of the masses, striking 21% of U.S. adults, or over 53 million people. About 88% of all arthritis cases were adults aged 45 and up, while about 50% were working-age people ranging in age from 18 to 64. About 58% of people who have COPD have arthritis, as do 56% of those with dementia, 53% who have had a stroke, and 52% with heart disease. About 55% of adults with a disability have arthritis.
Moreover, according to the Osteoarthritis Action Alliance (OAAA), the CDC estimates that 1 in 5 (or 53.2 million) US adults have some form of arthritis. While there are estimated to be more than 100 types of arthritis, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million US adults. 62% of individuals with osteoarthritis are women.
Market Segmentation
By Dosage Form
- Tablet
- Capsules
- Others
By Application
- Cold and Cough
- Headache and Fever
- Muscle Cramps
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
Market Companies
The major global players in the global paracetamol market include GlaxoSmithKline Plc., Teva Pharmaceuticals Inc., Genesis Biotec Inc., Mallinckrodt Pharmaceuticals, Abbott, Pfizer Inc., Johnson & Johnson Services Inc., Cipla, Dr. Reddy’s Laboratories Ltd., Sanofi among others.
Key Developments
- In August 2024, Global self-care company Perrigo launched SolpaOne®, its first maximum strength, 1000mg paracetamol in one effervescent tablet. The product is the latest in the expansion of its Solpadeine® pain portfolio in adult oral analgesics.
- In June 2024, Meldol, a 500 mg Paracetamol BP tablet offering reliable relief from pain and fever, was officially launched by the manufacturing company Sands Active Pvt. Ltd.
Why Purchase the Report?
- To visualize the global paracetamol market segmentation based on dosage form, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development
- Excel data sheet with numerous data points of global paracetamol market level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping is available in Excel consisting of key products of all the major players.
The global paracetamol market report would provide approximately 51 tables, 54 figures, and 181 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
