The acetaminophen API market size is projected to cross US$ 1,180.4 million in 2023 and is estimated to attain a valuation of US$ 1,648.2 million by 2033. The acetaminophen API market share is expected to thrive at a CAGR of 3.4% from 2023 to 2033.
Acetaminophen is a popular over-the-counter and prescription medication for reducing temperature and relieving pain. The demand for painkillers like paracetamol is rising as the world’s population continues to age and becomes larger. Medication availability and affordability have increased as a result of developing healthcare systems and increasing expenditures on healthcare in several countries. Because of this, there is now more demand for prescription drugs like paracetamol.
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Globally, chronic illnesses, including arthritis, back pain, and headaches, are on the rise. The demand for the API is further increased by the frequent use of paracetamol as first-line therapy for these diseases. The pharmaceutical industry is expanding rapidly globally. Pharmaceutical firms’ geographic and manufacturing capacity growth has influenced the upsurge in demand for acetaminophen API.
In many pharmacological formulations, including cold and flu medications, acetaminophen is often combined with additional active components. Acetaminophen’s marketability as an API enables it to be included in other therapeutic formulations, increasing its potential. Governmental and regulatory agencies greatly influence the pharmaceutical market. Favorable rules and policies governing medication safety, efficacy, and accessibility aid the growth of the acetaminophen API industry.
North America is predicted to dominate the market during the forecast period. Factors such as rising healthcare expenditure and the growing availability of affordable throughout the region foster growth in the market. Additionally, increasing cases of cardiovascular diseases amplify the demand for effective analgesics, which further promotes market growth.
Key Takeaways from Acetaminophen API Market Report:
- In 2018, the global market size stood at US$ 1,039.1 million.
- The market expanded at a CAGR of 2.1% from 2018 to 2022.
- In 2022, the global market size stood at US$ 1,150.2 million.
- North America captured 33.4% of global market shares in 2022.
- China captured 4.6% of global market shares in 2022.
- Japan captured 5.2% of global market shares in 2022.
- The United Kingdom captured 3.8 global market shares in 2022.
- The pharmaceutical industry segment under end-user captured 38.60% of global market shares in 2022.
- The acetaminophen injection segment acquired 31.40% of global market shares in 2022.
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Recent Developments Observed by FMI:
- Genexa unveiled the first-ever clean adult acetaminophen painkiller products in May 2022. The active components and dosages of Genexas Acetaminophen Extra Strength and Acetaminophen PM caplets are the same as those of the market leaders despite the absence of artificial colors, synthetic fillers, and other artificial preservatives.
- In April 2023, Haleon, a multinational consumer healthcare firm, launched its first analgesic from organic ingredients thanks to WhiteGrey’s marketing. PanaNatra is the first item in a new ‘naturals’ subcategory from the producers of Panadol, and it debuted with the marketing slogan ‘Who Said Natural Hasn’t Got What It Takes?
Key Players in the Global Market:
- BOC Sciences
- Tianjin Bofa Acetaminophen
- Mallinckrodt plc
- Kemcolour International
- Chnagshu Huagang Acetaminophen
- Haohua Industry
- Kangle Acetaminophen
- Angene International Limited
- Anhui BBCA Acetaminophen
- Granules India
- Hebei Jihgeng Acetaminophen
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Acetaminophen API Market Segmentation:
By Type:
- Veterinary Drug Grade Acetaminophen API
- Acetaminophen Grade Acetaminophen API
By End User:
- Pharmaceutical Industry
- Research Labs
- Educational Institutes
- Others
By Product Form:
- Acetaminophen Tablets (Film-coated, Extended-release)
- Oral Acetaminophen
- Acetaminophen Suppository
- Acetaminophen Injection
- Others
By Indications:
- Antipyretic Acetaminophen APIs
- Acetaminophen Analgesics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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