DUBLIN – (BUSINESS WIRE) – October 7, 2021–
The Paracetamol market is expected to grow at a CAGR of 4.3% during the forecast period (2021-2026).
- GlaxoSmithKline plc
- Mallinckrodt Pharmaceuticals
- Sun Pharmaceuticals Industries Ltd
- Teva Pharmaceuticals USA, Inc
- Dr Reddy’s laboratories
- Organic E
- CFL Pharma
- Genesis Biotec Inc.
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 for 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, worldwide there are approximately 24.1 million cases of pertussis and approximately 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 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 the growth of the market. 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).
4.2.1 Growing prevalence of conditions like headache, flu, etc.
4.2.2 Growing Demand for Pain Medication
4.3.1 Side effects of paracetamol overdose
4.4 Porter’s five forces analysis
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Laura Wood, Senior Press Director
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INDUSTRY KEYWORD: PHARMACEUTICAL HEALTH
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 07/10/2021 6:37 a.m. / DISC: 07/10/2021 6:37 a.m.
Copyright Business Wire 2021.