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.
Growth Drivers
Challenges
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 |
|
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 |
|
Route of Administration |
|
Application |
|
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.
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.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?