The global paracetamol market is similarly expected to reach US$1.0 bn in 2022, after being evaluated at US$0.8 bn in 2013. The data is provided in a research report released by Transparency Market Research, titled “PAP and Paracetamol Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2022.”
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The key factors expected to drive the global PAP and paracetamol market in the coming years are the significant increase in pharmaceutical investments, and the growing adoption of favorable and defined regulatory policies.The global paracetamol market is exhibiting a CAGR of 1.3% from 2014 to 2022. This market is extremely competitive due to the large number of generic drug makers who mass-produce paracetamol. The key reason for this growth rate is the growing number of patients suffering from cold, fever, swine flu, and arthritis.
Para-aminophenol, or PAP, is the starting material used to obtain paracetamol through synthesis. Nearly 80% of the global production of PAP goes towards the manufacture of paracetamol. Other areas of use for the global PAP market lie in the manufacture of fine chemicals, photo development, rubber, anti-aging creams, rubber, and dyes. This market is driven by the diversification of the available uses of PAP, the growing manufacturing capacities of PAP globally, and the improvements in the downstream industries related to the market. Other growth drivers of the global PAP market include the availability of human resources who can help produce a better quality of end products, and a stable research and development community.
The report’s geographical analysis of the global PAP and paracetamol market provides users with the complete and most relevant data required to understand its competitive landscape. This section reveals North America to have led the global PAP and paracetamol market in terms of market size in 2013. That year, the North America market for PAP was valued at US$394 mn, while the North America paracetamol market was valued at US$188.9 mn. The global PAP and paracetamol Market has profited the most in North America due to the ease of being able to purchase over-the-counter drugs.
The Asia Pacific paracetamol market is expected to grow at the fastest CAGR of 3.5% within the given forecast period, owing to the presence of a large number of manufacturers, along with a growing demand for drugs and analgesics that contain paracetamol. The market for PAP in Asia Pacific is exhibiting a CAGR of 3.3% between 2014 and 2022, which is considered to be the highest growth rate from the regional perspective.
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The key players in the global PAP and paracetamol market are Zhejiang Hisun Chemical Co., Ltd., Wuxi Feipeng Imp. & Exp. (Group) Co., Parchem Fine & Specialty Chemicals, ORGANICA Feinchemie GmbH Wolfen, Mallinckrodt plc, Kemcolour International, Jinan Haohua Industry Co., Ltd., Haihang Industry Co., Ltd., Granules India, BOC Sciences, and Angene International Limited.