Monday, May 27, 2024

Paracetamol Market Size | 4.4% Growth Forecast 2023-2029 | Mallinckrodt

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Paracetamol Market Expected to Reach US$ 2.20 Billion by 2029 Driven by Widespread Use for Pain Relief and Fever Reduction

The global paracetamol market is estimated to reach US$ 2.20 billion by 2029, growing at a CAGR of 4.4% from 2023 to 2029, according to a new report by Maximize Market Research. Paracetamol, also known as acetaminophen, is a widely used over-the-counter medication for pain relief and fever reduction.

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Market Driven by Doctor Recommendations and Easy Availability

The report highlights doctor recommendations for paracetamol as a key driver of market growth, particularly for treating acute pain and aches. Additionally, the easy availability of paracetamol as an affordable over-the-counter medication further fuels market expansion.

Headache and Cold Applications Lead Segmentation

By application, the paracetamol market is segmented into headache and fever, cold and cough, muscle cramps, and others. The headache and fever segment is expected to dominate the market due to the high prevalence of headaches and its effectiveness as a fever reducer.

Oral Administration Most Preferred Due to Convenience

The oral route of administration is projected to hold the largest market share due to its advantages like self-administration, affordability, and ease of use. However, intravenous paracetamol is also gaining traction in certain segments, particularly for post-surgical pain relief.

Tablets Remain Dominant Product Form

Tablets are anticipated to be the fastest-growing product type within the paracetamol market. This is attributed to their convenience for storage, consumption, and cost-effectiveness.

COVID-19 Impact Analyzed in Report

The report also analyzes the impact of the COVID-19 pandemic on the paracetamol market. While the pandemic caused temporary disruptions, the market is expected to recover and resume its growth trajectory.

Leading Players in the Paracetamol Market

The report includes a comprehensive assessment of key players in the paracetamol market, including Mallinckrodt, Anqiu Lu’an, Granules India, Zhejiang Kangle, Farmson, Hebei Jiheng, Novacyl, Anhui BBCA Likang, Anhui Fubore, and SKPL.

Regional Analysis Explores Market Opportunities

The global paracetamol market is segmented into five regions: Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. The report provides a detailed analysis of market size, offerings, and volume across these regions.

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