July 24, 2020
According to the research report titled ‘Global Paracetamol Market Size study, by Form (Tablet, Liquid Suspension, Capsule, and Other Forms), by Route of Administration (Oral, Rectal and Intravenous) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global paracetamol market is expected to register unprecedented growth by the year 2026.
For those uninitiated, paracetamol (acetaminophen), is a vital ingredient of numerous prescription and OTC (over-the-counter) drugs. It is combined with other ingredients in order to treat sleeplessness, flu, colds, cough, and asthma.
Increased pervasiveness of neurological disorders as well as pain-management conditions is a major factor fostering the demand for paracetamol across the globe, which in turn is a major factor driving the market growth. Easy availability of paracetamol as an OTC drug and its widespread adoption to cure mild or severe pain is also aiding the market expansion.
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Growing elderly population is further stimulating the industry outlook. However, availability of numerous types of generic products and strong competition may act as restraining factors to global paracetamol market growth.
As per form type, global paracetamol market is segmented into capsule, liquid suspension, tablet and others. In terms of route of administration, the market is divided into intravenous, rectal, and oral.
Considering the geographical landscape, worldwide paracetamol market is split into Latin America, Europe, North America, Asia-Pacific and Rest of the World. Countries such as Mexico, Brazil, Japan, India, China, Germany, UK, Canada, and the U.S are the point of focus.
The report states that Asia-Pacific accounts for a substantial market share and is predicted to expand significantly during the study period, with China and India being the major contributors. High occurrence of chronic conditions has impelled the demand for pain relief strategies. Additionally, growing population and availability of paracetamol at relatively low costs are swaying the business dynamics in Asia-Pacific.
Novacyl SAS, Granules India Ltd., Mallinckrodt Pharmaceuticals, Genesis Biotec Inc., M.M. Pharma, Aknil Biotech, Arika Healthcare, Captab Biotech Ltd., and GlaxoSmithKline Pharmaceuticals Ltd. are the major companies which formulate the competitive terrain of global paracetamol market.