The “Paracetamol Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Paracetamol Market is poised 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
- Biological E
- CFL Pharma
- Genesis Biotec Inc.
Key Market Trends
Cold and Cough Segment is Dominating the Paracetamol Market
A common cold can be caused by many different types of viruses. 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. Owing 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 rising population suffering from pain and fever, along with growing awaremess also serves as one of the primary drivers for the market growth.
Furthermore, according to the Center 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 the medicine during the pandemic, many of the regulatory bodies across the world restricted the usage of paracetamol. For instance, in the wake of COVID-19, the chemists association in India has decided to not 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 forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall paracetamol market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of fever, headaches, migraine in the region, established healthcare infrastructure 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. According to the Migraine Research Foundation, more than 4 million adults experience chronic daily migraine, with at least 15 migraine days per month, in the United States. As per the statistics, the increasing patient pool and increasing disposable revenue in this country are expected to boost the market’s growth of the country.
Furthermore, beneficial government initiatives and increase in the number of 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, high number of patients, 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 granted two patents to Altan, covering its intravenous formulation of acetaminophen (paracetamol).
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Conditions like Headaches, Flu etc.
4.2.2 Increasing Demand for Pain Management Drugs
4.3 Market Restraints
4.3.1 Side Effects of Overdosage of Paracetamol
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Dosage Form
5.2 By Application
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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Laura Wood, Senior Press Manager
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