PAP and Paracetamol Market Size (2024 - 2029)

PAP & Paracetamol Market Analysis

The PAP and Paracetamol Market is expected to register a CAGR of 4.3% during the forecast period.

The COVID-19 pandemic had a significant impact on the market. Paracetamol, due to its widespread availability, was recommended by various healthcare authorities around the world, such as the NICE, the NHS, the CDC, and the Ministry of Health and Family Welfare (MOHFW) of the GOI, for treating fever in adults and children with COVID-19. The COVID-19 pandemic initially created a tremendous demand for OTC analgesics, such as paracetamol, which led to restrictions on the export of essential drugs by local authorities to maintain sufficient stock in their country. However, as per the analysis, the exponential surge for analgesics created as a result of COVID-19 subsided owing to the lesser number of cases and availability of alternatives in the post-pandemic phase. On the other hand, the market is expected to grow at a stable pace over the analysis period due to the growing number of strategic initiatives and innovative product launches within the industry. For instance, in March 2022, Axunio developed Paraveganio, using 100% plant-based ingredients, and it is now the first product to be certified as vegan by The Vegan Society. Such product launches are expected to acquire an untapped population base, which may lead to the market's growth.

Factors such as the increasing prevalence of pain-related incidences and the advantages of para-aminophenol (PAP) and paracetamol over other analgesics are expected to increase the market's growth.

According to the article published in September 2021, the Interventional Pain and Spine Centre (IPSC) stated that 19% of the Indian adult population suffered from chronic pain of some kind, with a 25% prevalence in females. Thus, issues related to pain are major reasons for the use of analgesics for self-medication. Similarly, in order to counter such pain-related conditions, various companies are undertaking organic and inorganic strategic developments, including product launches, mergers and acquisitions, joint ventures, and product developments, among others. For instance, in June 2021, Bayer launched 10 brands, including the relaunch of the headache relief medicine Saridon in India. The relaunch will help Bayer grow its over-the-counter business in developing regions.

Moreover, paracetamol has various advantages over other analgesics. For instance, in March 2022, an article published in Informa UK Limited stated that people worldwide use paracetamol (acetaminophen) more than any other analgesic; besides being readily available over-the-counter (OTC), its popularity rests on being generally well tolerated and considered safer than other analgesics when taken as directed, especially in high-risk users such as older people or adults with comorbidities.

Thus, such advantages of paracetamol, coupled with an increased prevalence of pain-related incidences, are expected to accelerate the market's growth over the forecast period. However, the adverse effects of drugs are expected to hinder the market's growth.

PAP & Paracetamol Industry Segmentation

PAP and paracetamol are the most widely used analgesics and antipyretics that relieve pain and reduce fever. 

The PAP and Paracetamol Market is Segmented by Dosage Form (Powder and Granules), Application (Tablet Drug, Granules Drug, Oral Solutions, and Other Applications), and Geography (North America (United States, Canada, and Mexico), Europe ) Germany, United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, and the Rest of Middle East and Africa), and South America Brazil, Argentina, and Rest of South America)). The report offers value (in USD million) for the above segments.The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (in USD million) for the above segments.