January 15, 2022

Global Paracetamol Industry to 2026

Dublin, October 7, 2021 (GLOBE NEWSWIRE) – The “Paracetamol Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” report was added to ResearchAndMarkets.com offer.

The Paracetamol market is expected to grow at a CAGR of 4.3% during the forecast period (2021-2026).

The COVID-19 pandemic is expected to have a significant impact on the market. Paracetamol, due to its wide availability, has been recommended by various health authorities around the world, such as the National Institute for Health and Care Excellence (NICE), the National Health Service (NHS), the CDC and the Ministry Government of India’s Health and Family Welfare (MOHFW), for the management of fever in adults and children with COVID-19. The COVID-19 pandemic initially created a high demand for over-the-counter pain relievers, such as paracetamol, which resulted in local authorities restricting exports of essential medicines, while maintaining sufficient stock in their country.

However, the majority of API paracetamol is exported from India and China. The French National Pharmaceutical Academy estimates that the EU imports 80% of its “active pharmaceutical ingredients”, mainly from China and India. The UK medicines regulator estimates that Chinese manufacturers make around 40% of all APIs used in the world. Due to the foreclosure situation, most of the markets around the world have faced a shortage of paracetamol, which has caused the prices of paracetamol tablets to increase online and at independent community pharmacies. Amid the COVID-19 situation, governments of various authorities have supported local manufacture of paracetamol, which will strengthen local market players and global competitiveness. For example, following the COVID-19 crisis, France plans to produce more drugs at the national level, starting with paracetamol. In a joint statement, Minister of Health Oliver Veran and Minister Responsible for the Economy Agnes Pannier-Runacher said on June 18, 2020 that the government was working with French pharmaceutical companies, Seqens, Upsa and Sanofi, to ensure the local manufacture of, and market, paracetamol. Likewise, such initiatives, collaborations and strengthening of local manufacturers are expected to bring tremendous changes in the Paracetamol market worldwide, leading to its growth.

There are many factors responsible for the growth of the market. The increasing prevalence of conditions such as headaches, flu, etc. and the growing demand for pain medication are some of the main ones. Paracetamol is widely used in the treatment of mild to moderate pain, including headache, menstruation, toothache, back pain, osteoarthritis, colds / flu, and aches and pains. In addition, it is an effective antipyretic used to reduce fever. The increasing burden of indicative conditions and OTC use of the products are driving the growth of the market. For example, according to the Migraine Trust, migraine is the third most common disease in the world (behind dental cavities and tension headaches). Migraine is more common than diabetes, epilepsy, and asthma combined. Likewise, according to the World Health Organization (2020), oral diseases are estimated to affect nearly 3.5 billion people, often resulting in pain and discomfort. According to the 2019 UN report, there were 703 million people aged 65 or older in the world in 2019. The number of older people is expected to double to 1.5 billion by 2050. Globally, The share of the population aged 65 or over increased from 6% in 1990 to 9% in 2019. As the elderly population is more prone to osteoarthritis and other indicative diseases, the market is expected to experience growth.

Additionally, paracetamol is widely used by people with fever and pain associated with the flu. In the tropics, influenza occurs year round. In the northern hemisphere, the influenza season typically begins in early fall, peaks in mid-February, and ends in late spring of the following year. The duration and severity of influenza epidemics, however, vary depending on the virus subtype involved. In addition, the World Health Organization (2018) estimates that worldwide, annual influenza epidemics result in an estimated 3-5 million cases of severe illness and an estimated 250,000 to 500,000 deaths.

Hence, owing to the increasing prevalence and burden of indicative diseases and conditions, the Paracetamol market is expected to witness a notable growth rate during the forecast period.

Key market trends

Cold and Cough Segment Dominates Paracetamol Market

A cold can be caused by many different types of viruses. The disease is usually harmless, and symptoms usually go away within two weeks. Consumers depend on over-the-counter cough medications as the first response to get relief from cough symptoms. Due to the ease of supply, the sale of paracetamol cough, cold and flu medicines has increased especially in high emerging markets, such as India and China. Moreover, the growing population suffering from pain and fever along with growing awareness is also one of the major drivers for the growth of the market.

In addition, according to the Center for Disease Control and Prevention, around the world, there are an estimated 24.1 million cases of pertussis and around 160,700 deaths per year. On the other hand, due to the drug shortage during the pandemic, many regulatory agencies around the world have restricted the use of paracetamol. For example, in the aftermath of COVID-19, the Association of Chemists in India decided not to issue specific cold, cough and fever medications to anyone without a prescription. However, after the pandemic situation, increased production of paracetamol through local market players and initiatives to encourage availability is expected to drive the growth of the segment during the forecast period.

North America dominates the market and is expected to do the same during the forecast period

North America is expected to dominate the overall Paracetamol market throughout the forecast period. The growth of the market is due to factors like presence of key players, high prevalence of fever, headache, migraine in the region, established healthcare infrastructure are some of the key factors responsible for its significant market share. Market growth in the United States is expected to be robust during the forecast period. According to the Migraine Research Foundation, more than 4 million adults experience chronic migraine daily, with at least 15 migraine days per month, in the United States. According to statistics, the increase in the number of patients and the increase in disposable income in this country is expected to drive the growth of the country’s market.

In addition, beneficial government initiatives and increasing number of research partnerships are some of the expected drivers to increase market growth. In this region, the United States holds the maximum share due to supportive healthcare policies, higher cost per pill, high patient count, and a developed healthcare market. In April 2018, Altan Pharma Limited, an Irish specialty pharmaceutical company, announced that the United States Patent and Trademark Office had granted two patents to Altan, covering its intravenous formulation of acetaminophen (paracetamol).

Competitive landscape

The paracetamol market is moderately competitive and consists of several major players. Some of the companies that currently dominate the market are GlaxoSmithKline plc, Teva Pharmaceuticals USA, Inc., Genesis Biotec Inc., Mallinckrodt Pharmaceuticals, Geno Pharma, Biological E, CFL Pharma, Cipla, Dr. Reddy’s Labs.

Reasons to buy this report:

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Growing prevalence of conditions like headache, flu, etc.
4.2.2 Growing Demand for Pain Medication
4.3 Market restrictions
4.3.1 Side effects of paracetamol overdose
4.4 Porter’s five forces analysis

5 MARKET SEGMENTATION
5.1 By dosage form
5.1.1 Tablet
5.1.2 Capsules
5.1.3 Others
5.2 By application
5.2.1 Headache and fever
5.2.2 Colds and coughs
5.2.3 Muscle cramps
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 CCG
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 GlaxoSmithKline plc
6.1.2 Mallinckrodt Pharmaceuticals
6.1.3 Sanofi
6.1.4 Sun Pharmaceuticals Industries Ltd
6.1.5 Teva Pharmaceuticals USA, Inc
6.1.6 Dr Reddy’s Laboratories
6.1.7 Biological E
6.1.8 LCF Pharma
6.1.9 Cipla
6.1.10 Genesis Biotec Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information on this report, visit https://www.researchandmarkets.com/r/f2thnj

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