Paracetamol Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the paracetamol market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Paracetamol Market Dynamics

Paracetamol Market Drivers

Rising Prevalence of Pain-Related Disorders

  • The rising rate of pain diseases, including arthritis, migraines, and back pain, is primarily fuelling the global market for paracetamol. Chronic pain, as estimated by the National Institutes of Health (NIH), affects 20% of the adult population across the globe, prompting governments and organizations like McKesson Corporation and GlaxoSmithKline to promote wider access to proper pain control strategies.

Growth of the Over-the-Counter (OTC) Market

  • The global over-the-counter (OTC) pharma market is experiencing phenomenal growth, which, in turn, is affecting the demand for paracetamol. As per the skyquest analysis, the OTC market will increase by USD 58.54 billion from 2023 to 2027 at a CAGR of 6.53%. Paracetamol, FDA-approved for sale OTC, takes advantage of this trend. McKesson's introduction of "Foster and Thrive" in 2023 also increases availability With the ageing population, the WHO finds rising demand for analgesia that warrants expansion of over-the-counter painkillers such as paracetamol.

Paracetamol Market Restraints

Risk of Paracetamol Overdose and Safety Concerns

  • Overdose of paracetamol is a long-standing issue, with prominent world health authorities like the FDA and EMA issuing warnings of liver failure from excessive use. Overdose of paracetamol is one of the top causes of liver failure by the CDC, and this has caused tighter regulation and safety measures by industry players like GlaxoSmithKline.

Regulatory Challenges and Compliance

  • Paracetamol drug manufacturers continue to face compliance challenges with regulations across markets, whereby different standards across markets prevail. The EMA and FDA possess stringent guidelines, which affect access to markets. These manufacturers such as McKesson and Sanofi must adhere to local regulations, such as prices in India and safety regulations in Europe, so production and supply become cumbersome.
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Global Paracetamol Market size was valued at USD 761.7 Million in 2023 and is poised to grow from USD 796.79 Million in 2024 to USD 1124.47 Million by 2032, growing at a CAGR of 4.4% in the forecast period (2025-2032).

The global paracetamol market is very competitive with the likes of McKesson, Johnson & Johnson, and GlaxoSmithKline dominating the market. The competitors are trying to strengthen product portfolios through acquisitions and strategic partnerships. Regulators such as the FDA and EMA continue to inspect for compliance and safety, shaping market conditions. Further investment in sustainable packaging and safer formulations also reflects their reaction to global regulatory and consumer pressures. 'Johnson & Johnson ', 'GSK Consumer Healthcare', 'Sanofi', 'Mallinckrodt Pharmaceuticals', 'Granules India Limited', 'Teva Pharmaceutical Industries Ltd. ', 'Sun Pharmaceutical Industries Ltd. ', 'Dr. Reddy's Laboratories', 'Cipla Inc. ', 'Novartis', 'Pfizer ', 'Abbott Laboratories ', 'Bayer AG ', 'Zydus Lifesciences ', 'Mylan (Viatris)', 'Aurobindo Pharma', 'Lupin Limited', 'Torrent Pharmaceuticals', 'Glenmark Pharmaceuticals', 'Alkem Laboratories'

The rising rate of pain diseases, including arthritis, migraines, and back pain, is primarily fuelling the global market for paracetamol. Chronic pain, as estimated by the National Institutes of Health (NIH), affects 20% of the adult population across the globe, prompting governments and organizations like McKesson Corporation and GlaxoSmithKline to promote wider access to proper pain control strategies.

Shift Towards Sustainable Packaging Solutions: Governments worldwide, particularly in the EU and North America, are increasingly enforcing sustainability regulations for pharmaceutical products. This trend is pushing paracetamol manufacturers to adopt eco-friendly packaging solutions. The WHO has highlighted the importance of reducing pharmaceutical waste, prompting companies to innovate in recyclable materials for paracetamol packaging.

What makes North America the top market for paracetamol in 2024?

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Global Paracetamol Market
Paracetamol Market

Report ID: SQMIG35I2374

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