Acetaminophen Market to Reach USD 15.2 Billion by 2033, Growing at a 4.2% CAGR

The global acetaminophen market, valued at USD 9.8 billion in 2022, is expected to experience steady growth over the next decade. By 2033, the market is projected to reach USD 15.2 billion, with a compound annual growth rate (CAGR) of 4.2% during the forecast period. This expansion is driven by the increasing demand for pain relief medications, growing awareness of over-the-counter (OTC) treatments, and the widespread use of acetaminophen for fever and pain management.

Acetaminophen, a widely used analgesic and antipyretic, continues to dominate the global market due to its efficacy, safety profile, and affordability. According to recent findings by Future Market Insights, the oral route of administration remains the leading method, accounting for approximately 92.4% of the market share in 2022. Its ease of use, availability in various formulations (tablets, capsules, liquid), and suitability for self-medication contribute significantly to its popularity among consumers.

As the market grows, factors such as increasing healthcare access, rising incidences of chronic pain conditions, and the ongoing demand for OTC medicines in both developed and emerging markets are expected to fuel acetaminophen consumption. Additionally, the market is benefiting from the increasing preference for generic acetaminophen products, which offer affordable alternatives to branded medications.

Key Takeaways:

The global acetaminophen market is projected to grow from USD 9.8 billion in 2022 to USD 15.2 billion by 2033, at a CAGR of 4.2%.
The oral route of administration continues to dominate the market, holding a share of 92.4% in 2022.
Rising demand for OTC pain relief solutions and increasing healthcare accessibility are key drivers of market growth.
The shift towards affordable generic acetaminophen products is supporting widespread market adoption.
Competitive Landscape

Leading companies in the worldwide acetaminophen market are making investments in collaborations, partnerships, and distribution contracts to expand their reach internationally.

Because there are so many cases of untreated pain, analgesic manufacturers are concentrating on the Asia-Pacific and African regions. Due to the rising opioid misuse, the major players are also concentrating on creating drug formulations without opioids.

Sanofi successfully acquired Principia Biopharma Inc. in 2020 to expand its expertise in autoimmune and allergy diseases.
Sandoz, a division of Novartis, sold its USA business unit to Aurobindo Pharma in September 2018. Aurobindo Pharma was able to expand its product offering in the acetaminophen market due to this acquisition.
Similarly, recent developments related to companies manufacturing acetaminophen drugs have been tracked by the team at Future Market Insights, which are available in the full report.

Key Companies Profiled

Pfizer Inc.; Sanofi; Janssen Pharmaceuticals.; Bayer AG; GlaxoSmithKline plc; Bristol-Myers Squibb and Company; Teva Pharmaceutical Industries Ltd; Cardinal Health Inc.; Perrigo Company.; Novartis AG; Sun Pharmaceutical Industries Ltd; Abbott; Mallinckrodt Pharmaceuticals; Procter & Gamble Company

Key Market Segments Covered in Acetaminophen Drugs Industry Research

By Product:

Acetaminophen
Acetaminophen with Opioids
Others
By Route of Administration:

Oral
Injectable
Others

By Sales:

OTC (Over-the-counter)
Rx (Prescription)

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Drug Stores
E-commerce
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.