The global acetaminophen market enjoys a valuation of USD 9.8 Billion by the end of the year 2022 and is further set to expand at a CAGR of 4.2% to reach a valuation of USD 15.2 Billion by the year 2033.
According to a recent, study by Future Market Insights, the oral route of administration is leading the market with a share of about 92.4% in the year 2022, within the global market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 9.8 Billion |
| Market Value 2033 | USD 15.2 Billion |
| CAGR 2022 to 2033 | 4.2% |
| Market Share of Top 5 Countries | 58.0% |
| Key Market Players | Pfizer Inc.; Sanofi; Janssen Pharmaceuticals.; Bayer AG; GlaxoSmithKline plc; Bristol-Myers Squibb and Company; Teva Pharmaceutical Industries Ltd; Cardinal Health Inc.; Perrigo Company.; Novartis AG; Sun Pharmaceutical Industries Ltd; Abbott; Mallinckrodt Pharmaceuticals; and Procter & Gamble Company |
The demand for acetaminophen is being driven by an increase in the number of people with chronic illnesses like cancer and chronic pulmonary obstructive disease (COPD). Prescription post-operative pain management drugs that are provided for the treatment of various trauma ailments that cause pain are fuelling the demand for acetaminophen.
The effectiveness of acetaminophen medication in everyday life is going to drive up market sales. All age groups, including infants and children, can safely use paracetamol when taken at the recommended dose. Additionally, it is risk-free throughout pregnancy.
The prevalence of conditions that can be treated with acetaminophen as the first line of pain relief, such as toothaches, migraines, neuralgia, sore throat, colds, the flu, backaches, dysmenorrhea, and rheumatic pain, has significantly increased in recent years. As a result, the acetaminophen market is anticipated to expand significantly during the forecast period.
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The market value for acetaminophen drugs was approximately 8.9% of the overall USD 109.9 Billion of the global analgesics market in 2022.
The sale of acetaminophen drugs expanded at a CAGR of 2.9% from 2016 to 2022.
According to the American Cancer Society, 19.3 million people worldwide were affected by cancer in 2020. 20% to 50% of cancer patients have discomfort, according to the National Cancer Institute. 80 percent or more of cancer patients in the advanced stages experience moderate to severe pain. In large part due to the aging population, it is anticipated that there will be 21.7 million additional cancer cases worldwide by 2030.
Following the USA opioid epidemic, other nations are concentrating on implementing laws governing the prescribing of opioids. Governments in industrialized nations are encouraging physicians to recommend non-opioid analgesics, which gives businesses a chance to release cutting-edge non-opioid medications.
For Instance,
Physicians in North America and Western Europe prefer non-opioid medication formulations with innovative drug delivery systems over opioids.
On the other hand, the lack of commonly accessible opioid and non-opioid painkillers with novel drug delivery systems across Asia and Africa creates huge opportunities for the growth of the acetaminophen market in those regions.
Thus, the global acetaminophen market is expected to grow at a CAGR of 4.2% during the forecast period from 2023 to 2033.
The main drivers of demand for acetaminophen are the rising use of medications to address opioid tolerance and the overtreatment of pain in the population. Many individuals believe that a certain opioid dosage is ineffective in circumstances of extreme pain.
These individuals gradually become opioid-tolerant and, in some cases, develop an addiction to these drugs because they require increasing doses of medication to manage their pain.
Therefore, one of the key possibilities for participants in the acetaminophen market is projected to be the commercialization of opioid-tolerant pharmaceuticals. Additionally, this will aid in minimizing the negative effects linked to or brought on by increased opioid drug use.
Another aspect opening up the market for expansion is the launch of innovative non-opioid analgesics. Opioids are commonly used for pain management in North America and Western Europe; however, due to rising non-medical use, governing authorities are urging doctors to prescribe non-opioid analgesics, which gives businesses a chance to introduce new non-opioid medications.
Principal Consultant
Physicians have decreased their prescriptions for pain management as a result of the severity of abuse of opioids and their misuse, which has affected overall sales globally.
Opioid side effects that are chronically present are a significant barrier to the market's expansion.
For instance,
Owed to these factors, the expansion of the global market is set to be impacted, over the forecast period.
The USA dominates the North American region with a total market share of about 90.3% in 2022 and is expected to continue to experience the same growth throughout the forecast period.
Many cancer patients in the USA require ongoing pain management. 1,708,921 new instances of cancer were discovered in 2018, according to the Centres for Disease Control and Prevention.
Many cancer patients experience pain that painkillers cannot completely control (e.g. morphine). In short, research including cancer patients, the addition of acetaminophen (Tylenol) to opioids leads to better pain management without a rise in side effects.
Thus, a large population of cancer patients and growing pain management awareness is two major contributing elements to the USA's large market share.
During the forecast period, China is set to exhibit growth at a CAGR of nearly 5.3% in the global acetaminophen market. Since 1970, the average Chinese person's life expectancy has increased by 17 years. It is predicted that 28% of Chinese people would be 60 years of age or older by the year 2040.
The burden of non-communicable diseases is expanding in China along with life expectancy, necessitating ongoing pain management. Therefore, having a large geriatric population is a major factor in China's high market share in East Asia for acetaminophen.
India holds approximately 45.5% share of the South Asia market in 2022 and is projected to display growth at a lucrative growth during the forecast period.
The market for paracetamol is expanding as a result of the rise in chronic illnesses and ailments that require ongoing pain relief. Acetaminophen (Paracetamol) is the most popular pain reliever, and the Asia-Pacific region dominates this market due to India and China's rapid economic expansion.
Considering the fact that the demand for the medicine is expanding quickly in India, the Indian Medical Association (IMA) recently issued guidelines on the safety and efficacy of non-steroidal, anti-inflammatory drugs that provided patients and medical professionals with guidelines on medication prescribing and adoption for several ailments.
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Due to its superior efficacy and widespread availability in North America and Europe, the acetaminophen segment is set to maintain the largest market share of approximately 62.1% in 2023.
The market for paracetamol is expanding as a result of the rise in chronic illnesses and ailments that require ongoing pain relief. The market for paracetamol is currently being driven in particular by increases in healthcare expenditures and the ease of access to affordable paracetamol medications without a prescription in nations like South Africa, Brazil, and Argentina. Thus, the acetaminophen segment is driving demand within the global market.
The oral route of administration is anticipated to hold 92.3% of the market share in 2023. When compared to injectables and other forms of delivery, the oral route of administration offers high-quality care specificity. This trend is anticipated to last the entire projected time.
Oral medicine administration is the most common approach. The oral route is the safest, most practical, and most economical way to provide medication because of its advantages, such as non-invasiveness, therapeutic response, and simplicity of medication delivery.
In terms of sales, the over-the-counter (OTC) sector is expected to hold 91.6% of the overall market share in 2023. The growing preference for medications that are readily available and offer immediate treatment is a major element driving up sales in this market.
Anyone can purchase over-the-counter (OTC) medications without a prescription. A few over-the-counter medications provide pain and itch relief. Some, like those for athlete's foot and tooth decay, treat or prevent diseases. Others assist in managing chronic issues including allergies and migraines. Hence the demand for over-the-counter is high.
Retail pharmacies are expected to account for 28.8% of the overall market share in 2023, segmented by distribution channel. Over the course of the assessment year, higher convenience and widespread availability at retail pharmacies are anticipated to fuel sales in this market.
As acetaminophen is used to treat fever and mild to moderate discomfort from headaches, colds and sore throats, menstrual cramps, toothaches, backaches, muscle pains, and reactions to injections, and is easily available in any retail pharmacy without prescription, the market share for retail pharmacies is high in the distribution channel category in the global market.
Leading companies in the worldwide acetaminophen market are making investments in collaborations, partnerships, and distribution contracts to expand their reach internationally.
Because there are so many cases of untreated pain, analgesic manufacturers are concentrating on the Asia-Pacific and African regions. Due to the rising opioid misuse, the major players are also concentrating on creating drug formulations without opioids.
Similarly, recent developments related to companies manufacturing acetaminophen drugs have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2016 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product, Route of Administration, Sales, Distribution Channel, and Region |
| Key Companies Profiled |
Pfizer Inc.; Sanofi; Janssen Pharmaceuticals.; Bayer AG; GlaxoSmithKline plc; Bristol-Myers Squibb and Company; Teva Pharmaceutical Industries Ltd; Cardinal Health Inc.; Perrigo Company.; Novartis AG; Sun Pharmaceutical Industries Ltd; Abbott; Mallinckrodt Pharmaceuticals; Procter & Gamble Company |
| Pricing | Available upon Request |
The primary consumer for Acetaminophen is the pharmaceutical industry.
Some of the key players in the Acetaminophen Market include Hikma Pharmaceuticals, Mallinckrodt, Captab biotech, Farmson Pharmaceutical Gujarat Pvt. Ltd., Granules India, SKPL, Glaxo SmithKline Pharmaceuticals Ltd., Atabay, Arika Healthcare, and Sino Chemical.
The market is estimated to secure a valuation of USD 9.8 billion in 2023.
The market is estimated to reach USD 15.2 billion by 2033.
The pharmaceutical sector holds high revenue potential.
1. Executive Summary | Acetaminophen Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Demand (in Value or Size in USD Million) Analysis 2016 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Product 8.1. Acetaminophen 8.2. with Opioids 8.3. Others 8. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Route of Administration 9.1. Oral 9.2. Injectable 9.3. Others 9. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Sales 10.1. OTC (Over-the-counter) 10.2. Rx (Prescription) 10. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Distribution Channel 11.1. Hospital Pharmacies 11.2. Retail Pharmacies 11.3. Drug Stores 11.4. E-commerce 11.5. Others 11. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia 12.5. East Asia 12.6. Oceania 12.7. Middle East and Africa 12. North America Market Analysis 2016 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2016 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2016 to 2022 and Forecast 2023 to 2033 15. South Asia Market Analysis 2016 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2016 to 2022 and Forecast 2023 to 2033 17. Oceania Market Analysis 2016 to 2022 and Forecast 2023 to 2033 18. Middle East and Africa (MEA) Market Analysis 2016 to 2022 and Forecast 2023 to 2033 19. Market Structure Analysis 20. Competition Analysis 21.1. Pfizer Inc. 21.2. Sanofi 21.3. Janssen Pharmaceuticals 21.4. Bayer AG 21.5. GlaxoSmithKline plc 21.6. Bristol-Myers Squibb and Company 21.7. Teva Pharmaceutical Industries Ltd 21.8. Cardinal Health Inc. 21.9. Perrigo Company 21.10. Novartis AG 21.11. Sun Pharmaceutical Industries Ltd 21.12. Abbott 21.13. Mallinckrodt Pharmaceuticals 21.14. Procter & Gamble Company 21. Assumptions and Acronyms Used 22. Research Methodology
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Acetaminophen Market
