Global Acetaminophen (Paracetamol) Market to Hit $999.4 Mn in 2020: Growth Analysis
Deerfield Beach, FL -- (SBWIRE) -- 10/10/2017 -- According to the report, global acetaminophen market was valued at around USD 801.3 million in 2014 and is expected to reach USD 999.4 million in 2020, growing at a CAGR of around 3.8% between 2015 and 2020. In terms of volume, the global acetaminophen market stood at above 149.3 kilotons in 2014. Zion Market Research has published a new report titled "Acetaminophen Market for Pharmaceuticals, Dye Industry and Chemical Industry – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020"
Acetaminophen is commonly known as paracetamol or APAP. Acetaminophen is a pain reliever and a fever reducer. Acetaminophen is used to treat many conditions such as a headache, muscle aches, arthritis, backache, toothaches, colds, and fevers. However, it can cause severe side effects on the liver, blood cell, and kidney. In rare cases, acetaminophen may cause a severe skin reaction. Paracetamol is part of the class of drugs known as "aniline analgesics"; it is the only such drug still in use today. It is not considered a NSAID because it does not exhibit significant anti-inflammatory activity (it is a weak COX inhibitor). It is widely used as Para-aminophenol (PAP) for industrial purpose, and it also has broad application range such as pharmaceuticals, dye industries, and chemical industries.
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The demand of acetaminophen is large from the pharmaceutical industry. As the increase in health issues and diseases like swine flu, cold, fever and arthritis and therefore need for quick pain relief and rising demand for generic drugs are expanding the acetaminophen market. Rising demand for generic medicines and over the counter drugs is primarily driving demand for acetaminophen. Increasing use of acetaminophen in chemical industry also expected to boost the demand for acetaminophen. Additionally, the growth of dye industry is expected to surge demand for acetaminophen in the years to come.
On the basis of applications, acetaminophen market can be segmented as pharmaceuticals, dye industry, and chemical industry. Pharmaceutical application market holds the largest share of acetaminophen market. Pharmaceutical accounted for more than 75% share of the total acetaminophen volume consumed in 2014. Rising demand for medicines and increasing health awareness is a major driving factor for the pharmaceutical industry. Additionally, increasing applications of acetaminophen in chemical and dye industry are expected to have a positive impact on the market.
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Acetaminophen market was dominated by North America with over 40% shares of the total market in 2014. North America is followed by Europe and Asia Pacific. However, hazardous effects and risk of heart attack due to high consumption of acetaminophen may hold the growth of this industry. Latin America is anticipated to witness a strong growth in the global acetaminophen market in the forecast period.
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Global acetaminophen market is highly competitive, with the presence of well-established global market participants. Angene International Limited, BOC Sciences, Granules India, Haihang Industry Co., Ltd., Jinan Haohua Industry Co., Ltd., Kemcolour International, Mallinckrodt plc, ORGANICA Feinchemie GmbH Wolfen, Parchem Fine & Specialty Chemicals, Wuxi Feipeng Imp. & Exp. (Group) Co., Limited and Zhejiang Hisun Chemical Co., Limited are some of the key vendors in the market.