Global Paracetamol Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Paracetamol Market Overview
The global paracetamol market size was valued US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Paracetamol, also named acetaminophen, is an active ingredient in hundreds of over-the-counter (OTC) and prescription medicines. It relieves pain and fever. and, it is also combined with other active ingredients in medicines that treat allergy, cough, colds, flu, and sleeplessness.
Paracetamol Market Dynamics
The paracetamol drugs market growth is driven by the increasing prevalence of conditions like headaches, flu etc. and the increasing demand for pain management drugs.
The growing prevalence and burden of indicative diseases and conditions is expected to drive the growth in the forecast period
Paracetamol is widely used to treat mild to moderate pains, including headaches, menstrual periods, toothaches, backaches, osteoarthritis, or cold/flu aches and pains. Moreover, it is an effective antipyretic used to reduce fever. The rising burden of the indicative conditions and OTC use of the products are driving the market's growth. For instance, according to the Migraine Trust, migraine is the third most common disease in the world (behind dental caries and tension-type headaches). Migraine is more prevalent than diabetes, epilepsy, and asthma combined.
Similarly, according to the World Health Organization (2020), It is estimated that oral diseases affect nearly 3.5 billion people, often leading to pain and discomfort. According to the UN report 2019, there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. As the older population is more prone to osteoarthritis toothache and other indicative diseases, the market is expected to grow.
However, paracetamol is extensively used by people suffering from high temperatures and aches and pains associated with flu. In tropical areas, influenza occurs throughout the year. In the Northern Hemisphere, the influenza season typically starts in early fall, peaks in mid-February, and ends in the late spring of the following year. The duration and severity of influenza epidemics vary, however, depending on the virus subtype involved. Also, the World Health Organization (2018) estimates that worldwide, annual influenza epidemics result in about 3-5 million cases of severe illness and about 250,000 to 500,000 deaths.
Therefore, owing to the growing prevalence and burden of indicative diseases and conditions, the market for paracetamol is expected to witness the highest growth rate over the forecast period.
Major side effects of drugs is likely to hinder the market growth
The US Food and Drug Administration, in 2013, documented a report that Acetaminophen could lead to rare fatal skin reactions such as Stevens-Johnsons Syndrome (SJS) and Toxic Epidermal Necrolysis (TEN). According to research conducted by UK-based scientists, it was found that long-term use of Paracetamol links to High blood pressure and Stroke. Some of the most common side effects of paracetamol overdose are Nausea, Stomach pain, Loss of appetite, weakness, and kidney cancer.
COVID-19 Impact Analysis
The COVID-19 pandemic is expected to have a significant impact on the market. Paracetamol, due to its widespread availability, has been recommended by various healthcare authorities across the world, such as the National Institute for Health and Care Excellence (NICE), the National Health Service (NHS), the CDC, and the Ministry of Health and Family Welfare (MOHFW) of the Government of India, for managing fever in adults and children with COVID-19. COVID-19 pandemic has initially created a high demand for the OTC analgesics, such as paracetamol, which led to restrictions in the export of essential drugs by local authorities while maintaining sufficient stock in their country. However, the majority of paracetamol API is exported from India and China. France's National Pharmaceutical Academy estimates the EU imports 80% of its "active pharmaceutical ingredients," mostly from China and India. The UK medicines regulator estimates that the Chinese manufacturers make around 40% of all APIs used worldwide. Due to the lockdown situation, most markets worldwide faced a shortage of paracetamol, leading to increased prices for paracetamol tablets online and in independent community pharmacies. Amid the COVID-19 situation, the governments of various authorities supported the local manufacturing of paracetamol, strengthening the local market players and competitiveness around the world. For instance, following the COVID-19 crisis, France plans to produce more medicines nationally, starting with paracetamol. In a joint statement, health minister Oliver Veran and junior economy minister Agnes Pannier-Runacher, on 18th June 2020, stated that the government is collaborating with French pharmaceutical companies, Seqens, Upsa, and Sanofi, to ensure the local manufacturing of, and market for, paracetamol. Similarly, such initiatives, collaborations, and strengthening of local manufacturers are expected to bring considerable changes in the paracetamol market worldwide, leading to its growth.
Paracetamol Market Segment Analysis
The tablet segment is expected to hold largest share in this market segment
Paracetamol Tablet has been used as a pain-relieving medication. It is primarily used to treat acute pain. The conditions of acute pain include backache, headache, arthritis and toothache, etc. The active ingredient falls under the class of analgesics, belonging to the category of NSAID. This medication also reduces pain in the body caused due to fever.
The cold and cough segment are expected to hold largest share in this market segment
Many different types of viruses can cause a common cold. The condition is generally harmless, and symptoms usually resolve within two weeks. Consumers depend on OTC cough medicines as a first response to get relief from cough symptoms. Due to the ease of procurement, the sale of paracetamol drugs for cough, cold, and flu has increased, particularly in the high emerging markets, such as India and China. Moreover, the growing population suffering from pain and fever and growing awareness also serve as primary drivers for market growth.
Moreover, according to the Centers for Disease Control and Prevention, worldwide, there are an estimated 24.1 million cases of pertussis and about 160,700 deaths per year. On the other hand, due to the shortage of medicine during the pandemic, many of the regulatory bodies across the world restricted the usage of paracetamol. For example, in the wake of COVID-19, the chemists association in India has decided not to dispense medicines specific to cold, cough, and fever to anyone without a prescription. However, post-pandemic situation, the increased production of paracetamol through the local market players and initiatives to encourage availability is expected to drive the segment growth over the forecast period.
The retail pharmacies segment is expected to hold largest share in this market segment
The retail Pharmacies segment is expected to dominate during the forecast period. Paracetamol drugs are easily, readily available in retail pharmacies as the generic medicine. Retail pharmacies offer convenient services, including home delivery of medicines and availability of all types of drugs and medicines. Moreover, consumer preference for easy availability of products due to busy lifestyles and hectic work schedules is anticipated to boost market growth.
Paracetamol Market Geographical Analysis
North America region holds the largest market share of global paracetamol market
North America region is expected to dominate the overall paracetamol market throughout the forecast period. The market growth is due to the factors such as the existence of key players, high incidence of fever, headaches, migraine in the region, well-structured healthcare system are some of the key factors accountable for its large share in the market. The market growth in the United States is expected to be robust during the forecast period. For instance, according to the Migraine Research Foundation, more than 4 million adults experience chronic daily migraines, with at least 15 migraine days per month, in the United States, and as per the statistics, the growing patient pool and increasing disposable revenue in this country are expected to boost the market's growth of the country.
Moreover, beneficial government initiatives and increased research partnerships are some of the drivers expected to increase the market growth. In this region, the United States has the maximum share due to supportive healthcare policies, higher per tablet cost, the high number of patients, and a developed healthcare market. For instance, in April 2018, Altan Pharma Limited, an Irish specialty pharmaceutical company, announced that the United States Patent and Trademark Office granted two patents to Altan, covering its intravenous formulation of acetaminophen (paracetamol).
Paracetamol Market Competitive Landscape
The global paracetamol market is moderately competitive with presence of global companies. Some of the key players which are contributing to the growth of the market include GlaxoSmithKline plc, Teva Pharmaceuticals USA, Inc., Genesis Biotec Inc., Mallinckrodt Pharmaceuticals, Geno Pharma, Biological E, CFL Pharma, Cipla, Dr. Reddy's Labs, Sanofi, Novacyl, Huzhou Konch, Changshu Huagang, Zhejiang Kangle and Hebei Jiheng. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, In March 2020, Johnson & Johnson announced that it will be ramping up production of its flagship product Tylenol which is an over-the-counter pain killer.
Paracetamol Market Key Companies to Watch
Overview: GlaxoSmithKline plc is a British multinational pharmaceutical company headquartered in Brentford, UK. Established in 2000 by a merger of Glaxo Wellcome and SmithKline Beecham. The business segments include Pharmaceuticals, Vaccines and Consumer healthcare. GSK is extending 50 years of leadership in respiratory medicine with continued innovation in the development of treatments for asthma, chronic obstructive pulmonary disease (COPD), and other debilitating respiratory conditions. It operates its business in over 115 countries worldwide.
Product Portfolio: The Pharmaceuticals business has a broad portfolio of innovative and established medicines in respiratory, HIV, immuno-inflammation and oncology.
Key developments: In February 2020, GlaxoSmithKline got approval from the Food and Drug Administration for Advil Dual Action, with Acetaminophen as an over-the-counter (OTC) product for pain relief.
The global paracetamol market report would provide an access to an approx. 61 market data table, 55 figures and 200 pages.
Global Paracetamol Market- By Dosage Form
Global Paracetamol Market- By Application
Global Paracetamol Market- By Distribution Channel
Global Paracetamol Market - By Region
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