Acetaminophen Market Size & Share, by Dosage Form (Tablets, Liquid Suspension); Route of Administration; Application - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6190
  • Published Date: Jun 14, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Acetaminophen Market size was valued at USD 10 Billion in 2023 and is poised to exceed USD 17 Billion by the end of 2036, registering over 5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of acetaminophen is estimated at USD 11.1 Billion. Acetaminophen helps alleviate discomfort in mild to moderate headaches, toothaches, colds, aches, etc. With its vast applications in the medical industry, propelled by the burgeoning global population at a rate of nearly 1% annually, Acetaminophen has an immense scope for growth.


Acetaminophen Market
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Acetaminophen Sector: Growth Drivers and Challenges

Growth Drivers

  • Aiding in global pain relief - One of the most common reasons for a visit to primary care is pain relief.  Found in almost 600 medications, Acetaminophen is the commonly prescribed first line of treatment for most ailments and is preferred over steroids and other anti-inflammatory medications to alleviate pain. In the shortest duration, it will give immense relief to the patient, due to its analgesic and antipyretic properties. This medication is mostly not contradicted by most of the patients and has a fair safety and tolerability record. Especially in underdeveloped countries, where access to pain medication can be quite a challenge, patients put off the visit to the physician, leading to serious health issues, even in places where palliative care isn’t necessarily accessible, acetaminophen is available over-the-counter to provide extended pain relief. It is to be noted that the global population is rapidly aging, which establishes the dependence on pain-managing medication like acetaminophen for geriatrics, without experiencing adverse side effects like with opioids such as Morphine.
  • Used in pediatric care - The use of acetaminophen has been widely approved for decades to treat aches and fevers, even in children, as long as the maximum dosage is 15mg/kg for a single dose. It is even used as a self-medication in nearly 74% of the cases.  Available in various formulations such as extended-release, oral disintegrating tablets, and suppositories, acetaminophen addresses common illnesses in children and alleviates discomfort. Acetaminophen may be used alone or in combination with other medications to treat the source of the problem. This reliance on acetaminophen is expected to drive its acetaminophen market upward in the coming years.
  • Diversified applications - Only in the U.S., Acetaminophen is consumed by 60 million people weekly, due to its varied applications. Acetaminophen finds its importance even in postoperative care and is even considered pregnancy-safe. Its wide applications have given it a permanent spot in the healthcare industry due to its efficacy and negligible drug interactions. From treating musculoskeletal pain to dental aches, alongside the benefits of rapid absorption, the acetaminophen market is not only diversified but also scaling up to make room for more industry players and meet heightened demands.

Challenges

  • Side effects of acetaminophen - Since acetaminophen is available over the counter, its unsupervised use leads to a plethora of problems. Certain conditions like allergies, liver issues, and kidney problems are amplified by its use. In many instances, patients, unaware of their pre-existing conditions turn to acetaminophen and experience the repercussions, leading to hospitalization. When not adhering to the dosage guidelines, the effects are counterintuitive which can be a setback for the acetaminophen market.
  • High competition - The stiff competition from the already established industry players, alongside high market entry costs, can be detrimental to the market. Also, the various government regulations in the healthcare industry may impede the process of entering the acetaminophen market.

Acetaminophen Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

5%

Base Year Market Size (2023)

USD 10 Billion

Forecast Year Market Size (2036)

USD 17 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Acetaminophen Segmentation

Dosage Form (Tablets, Liquid Suspension)

Tablets segment is estimated to dominate over 57% acetaminophen market share by 2036. More than 90 million high-temperate cases occur per week, requiring the administering of acetaminophen. Acetaminophen tablets are also preferred in patients with peptic ulcers, and those who cannot tolerate aspirin. Despite having high absorption properties, one would have to consume high-dose acetaminophen for an extended period of time before the first side effect appears. Since the system efficiently absorbs it in a span of 60 minutes, tablet routes are preferred over liquid suspension, or IV due to its affordability and convenience. Also, administering acetaminophen through the oral route is noted to have the least amount of side effects.

Route of Administration (Oral, Parenteral)

By 2036, oral segment is poised to dominate over 33% acetaminophen market share. Acetaminophen is administered to both in-patient and outpatient patients, with dosage depending upon the age and weight of the individual.  The parenteral dosage is preferred among patients suffering from severe nausea. Fevers are the most common occurrence and in its treatment, acetaminophen is administered in combination with other viral medications. The pandemic caused by COVID-19 also shot up the demand for oral acetaminophen in the global market, even leading to instances of shortage. Also, used in pain relief, 1 in 10 people suffer from chronic pain, requiring the administering of acetaminophen combination drugs 

Application (Common Cold, Pain Relief)

In acetaminophen market, common-cold segment is anticipated to dominate over 30% revenue share by 2036. On average, a person gets symptoms of the common cold, 4-6 times a year. There are no treatments for viral infections like the common cold. The only approach is to tend to the symptoms like headache, stuffed nose, and body aches, for which acetaminophen is prescribed, through various routes of administration. An average adult is said to experience cold symptoms at least 3 times a year. Acetaminophen finds its most application in these cases. It is also found in combination with other drugs in allergy medications, sleep medications, etc.

Our in-depth analysis of the global acetaminophen market includes the following segments:

         Dosage Form

  • Tablets
  • Liquid Suspension

         Route of Administration

  • Oral
  • Parenteral

         Application

  • Common Cold
  • Pain Relief

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Acetaminophen Industry-Regional Synopsis

North American Market Statistics

North American acetaminophen market is set to dominate revenue share of over 41% by 2036. Market growth in the region is also expected due to the presence of a robust healthcare infrastructure, and a focus on promoting quality health solutions. Large investments have been made by top industry bigwigs in R&D in North America, making great strides even in the acetaminophen market.

Especially in the U.S., viral infections like respiratory infections, influenza, etc are on the rise across all age groups. Spread easily through droplets in the air, there is a dependency on flu-related medications. Acetaminophen is the primary medication prescribed to these patients, and companies globally supply this country with this medication. With the growing geriatric population and age-related ailments on the rise, Acetaminophen may help alleviate the pain, without any major side effects. Approximately, 21% of the U.S. population lives in chronic pain. Modern life, alongside excessive screen time, is responsible for a high number of cases of chronic migraines in the area. Acetaminophen is prescribed for these cases as well, which is expected to drive up the growth trajectory of the market in the U.S.

APAC Market Analysis

By 2036, Asia Pacific acetaminophen market is likely to dominate over 32% revenue share, owing to the increasing population and general health issues in the area. Government campaigns held in public health interest to increase general health awareness, and make quality healthcare accessible are the market drivers for acetaminophen in this region. Acetaminophen is also sold in combination with other pain-relieving drugs, that are utilized regularly by patients in Asia Pacific.

In China, with the increased availability of generic medication, along with stiff competition from different acetaminophen manufacturers, there is still a lot of room in the acetaminophen market, as the growing pharmaceutical demands are challenging to meet. The population explosion, packed with the chronic disease burden is expected to take a toll on the already truncated healthcare system in the future. This region too experiences a high chronic pain rate, with 25.9% reeling with its effects on a daily basis. Access to Acetaminophen is expected to ease the self-resolving symptoms and provide a quick and convenient resolution, allowing for more serious cases to be addressed.

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Acetaminophen Market Size
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Companies Dominating the Acetaminophen Landscape

    Companies globally suppliers work round the clock to meet the never-ending demand for acetaminophen alone, and in combination with other drugs, to quickly alleviate any discomfort.

    • Sanofi
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Abbott
    • Lupin
    • Pfizer
    • Aurobindo
    • Sun Pharma
    • Dr. Reddy’s Laboratories
    • Novartis
    • Teva Pharmaceuticals
    • Bayer

In the News

  • Dr. Reddy’s Laboratories - Dr.Reddy has collaborated with Pharmazz Inc., to commercialize Centhaquine, used for the treatment of hypovolemic shock, in India and Nepal. This coalition is expected to meet the growing patient needs in the area.
  • Pfizer - Sanofi is moving ahead with its plans for a spin-off of its consumer division, making it the biggest deal in Europe for this year. It is estimated that the consumer division is worth 20 billion euros.

Author Credits:  Radhika Pawar


  • Report ID: 6190
  • Published Date: Jun 14, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of acetaminophen was over USD 10 billion.

The market size for acetaminophen is projected to cross USD 17 billion by the end of 2036 expanding at a CAGR of 5% during the forecast period i.e., between 2024-2036.

The major players in the market are Sanofi, Dr. Reddy Laboratories, Pfizer, Bayer, Aurobindo, Sun Pharma, Lupin, and others.

The tablets segment is anticipated to garner a share of 57% during 2024-2036.

The North American acetaminophen sector is poised to hold a 41% share by the end of 2036.
Acetaminophen Market Report Scope
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