Paracetamol is a popular over-the-counter pain reliever and fever reducer medication that is widely used across the globe. Also known as acetaminophen, paracetamol has become an integral part of many people's medicine cabinets. It is available in various forms, including tablets, capsules, powders, and liquid suspensions. The drug's active ingredient works by blocking the production of prostaglandins, which are substances responsible for causing pain and inflammation. As a result, paracetamol provides effective relief from aches and pains, such as headaches, toothaches, menstrual cramps, and muscle soreness. It also reduces fever by resetting the body's thermostat in the hypothalamus, which helps to regulate body temperature. Paracetamol is a widely trusted medication that has been used for decades and has an excellent safety record. When taken in the recommended doses, it has few side effects and is generally considered safe for most people, including children, pregnant women, and the elderly. However, like all drugs, it can cause side effects when taken in excessive amounts. Despite the competition from other painkillers and fever reducers, the demand for paracetamol has continued to rise over the years. The affordability and easy availability of the drug make it a popular choice among consumers, and it is readily available in drug stores and supermarkets around the world.
Benefit of Starting This Business
v Global Demand: Paracetamol is widely used across the globe. The high demand offers an extensive market for paracetamol, including in developing countries where the prevalence of diseases and conditions that require pain relief and fever reduction is high.
v Stable Market: Paracetamol has been used for many years and is an established part of many treatment protocols. It is unlikely to be replaced by new drugs entirely and therefore provides a stable market.
v Diverse Product Options: The paracetamol business is not just about selling the drug in tablet form. There are various forms of paracetamol, including syrup, suppository, and injectable form. These different types of products offer a broad array of business opportunities.
v Potential for Brand Development: While paracetamol itself is a generic drug, there is a potential to create a branded version that is associated with reliability, quality, or other valued attributes. This can be a way to differentiate your product from others in the market.
v Increasing Health Awareness: With growing health consciousness, people are more aware and proactive about their health, leading to increased self-medication for minor ailments. This trend can boost the market for OTC drugs like paracetamol.
v Government Support: In some countries, governments encourage domestic production of essential drugs like paracetamol to reduce dependence on imports. This can come in the form of tax incentives, funding, or other support, creating a more favorable environment for such businesses.
Indian Market Outlook
The India paracetamol market is expected to grow at an impressive rate during the forecast period on account of the growing awareness among the consumers pertaining to pain management. Additionally, paracetamol is used as an active pharmaceutical ingredient (API) for manufacturing several generic and OTC drugs. This is expected to positively influence the market growth through FY2026. Furthermore, the widespread use of paracetamol in treating a range of conditions including headache, muscle pain, fever, arthritis, cold and cough, backache, toothache, among others is further expected to fuel the market growth over the next few years. This in turn has led to an increase in demand and consumer preference for paracetamol as an over the counter medication. Paracetamol's booming business in India has shown no signs of slowing down. With its affordable pricing, effectiveness, and easy availability, it has become an indispensable part of the Indian healthcare system. However, it is essential to take the drug as per the prescribed dosage and follow the recommended safety precautions to avoid any adverse effects.
Global Market Outlook
Paracetamol Market size was valued at US$ 1.60 Bn. in 2022 and the total Paracetamol revenue is expected to grow at 4.4% from 2023 to 2029, reaching nearly US$ 2.20 Bn. paracetamol belongs to the analgesics group of medicines commonly known as a pain killer, and antipyretics i.e. fever-reducing agents are expected to dominate the market in 2029. The recommendation of paracetamol by doctors helps to boost the market growth for acute pain and ache. Headache and Cold is the second largest application responsible for paracetamol market growth. Paracetamol, a cheaper drug is readily available as a counter. Asia-Pacific region dominates the Paracetamol market due to the rising chronic disease burden, increasing need to manage pain, and growing awareness in this region. North America is the second largest region in terms of growth in the Paracetamol market due to rising healthcare spending and the availability of affordable drugs in this region. Europe is expected to dominate the market in terms of revenue in 2029 due to the rising need to manage pain and growing awareness in the region. In tropical regions, cold/ influenza occurs throughout the year. Although the duration and severity of influenza vary, however, it depends on the virus and the subtype involved. This region may help to develop the market.
Conclusion
Paracetamol is a trusted and effective pain reliever and fever reducer that is widely used and trusted by consumers around the world. Its affordable price, widespread availability, and minimal side effects make it a popular choice for managing common aches and pains. With its booming business, it's clear that paracetamol is here to stay.
Key Players
v Farmson Pharmaceutical Gujarat Pvt. Ltd. (India)
v Granules India Limited (India)
v Hebei Jiheng Pharmaceutical Co., Ltd (China)
v Mallinckrodt (U.K.)
v Zhengzhou Sino Chemical Products Co., Ltd (China)
v Haihang Industry (China)
v BOC Sciences (U.S.)
v Farmson
v Novacyl
v Anhui BBCA Likang
v Anhui Fubore
v SKPL
v Atabay
v Huzhou Konch
v Changshu Huagang
