The global Acetaminophen market size is valued at US$ 9.8 billion at the end of 2022 and is expected to grow at a CAGR of 4.2% to reach a valuation of US$ 15.2 billion by 2033. According to a recent Future Market Insights report, the oral route of administration will lead the market with a share of approximately 92.4% in 2022.
Acetaminophen/ paracetamol is widely being adopted by individuals and healthcare providers and are sold over the counter, which is boosting sales in the market. Paracetamol is widely consumed as it is suitable to all age groups i.e. adults, children’s, pediatrics and geriatrics to treat mild to moderate pain. Paracetamol is the most efficient and safe drug to manage pain when consumed in a controlled dosage.
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The most prescribed OTC (over the counter) drug is acetaminophen, which is widely used as the first line of treatment. As chronic disorders have symptoms of pain, demand is projected to increase over the forecast period.
Further, increasing awareness regarding palliative care in terminally ill patients is boosting the adoption of analgesics for pain management. Since the prevalence of pain is over 75% in advanced disease conditions, sales are expected to gain traction in the forthcoming years.
In the US, palliative care services are delivered following government and commercial reimbursement policies. Hospital palliative care programs in the US include palliative care consultation teams and dedicated in-patient care units. Non-hospital palliative care programs include ambulatory care, and office and home-based palliative care programs.
Key Takeaways:
- The United States dominates the North American region with a total market share of around 90.3% in 2022, and this rise is likely to continue throughout the forecast period.
- China is expected to develop at a CAGR of roughly 5.3% in the global acetaminophen market during the forecast period.
- The acetaminophen segment is expected to retain the greatest market share of roughly 62.1% in 2023 due to its better efficacy and widespread availability in North America and Europe.
- In 2023, the oral method of administration is expected to account for 92.3% of the market.
- The over-the-counter (OTC) segment is estimated to account for 91.6% of total market sales in 2023.
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Competition Landscape
Leading players operating in the global acetaminophen market are Abbott, Janssen Pharmaceuticals, Inc. [Johnson & Johnson], Bristol-Myers Squibb and Company, Cardinal Health Inc., Viatris, Procter & Gamble Company, Sanofi, Novartis AG, Bayer AG, Teva Pharmaceutical Industries Ltd, Perrigo Company, Mallinckrodt Pharmaceuticals, Glaxo SmithKline Pharmaceuticals Ltd, Sun Pharmaceutical Industries Ltd, and Sun Pharmaceutical Industries Ltd.
Some of the leading companies of the acetaminophen market are focusing on product launch collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
Key Market Segments Covered in Acetaminophen Drugs Industry Research
By Product:
- Acetaminophen
- Acetaminophen with Opioids
- Others
By Route of Administration:
- Oral
- Injectable
- Others
By Sales:
- OTC (Over-the-counter)
- Rx (Prescription)
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- E-commerce
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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