The acetaminophen reagents market size is projected to reach US$ 0.88 billion by 2031 from US$ 0.59 billion in 2023. The market is expected to register a CAGR of 5.9% during 2023–2031. Technological advancements in immunoassay-based acetaminophen reagents will likely remain a key trend in the market.
Acetaminophen Reagents Market Analysis
Key factors that are driving the growth of the market are the high incidence of drug overdose and adoption of acetaminophen testing. Furthermore, the increasing number of acetaminophen overdose cases and limited players in the market would offer significant opportunities for the acetaminophen reagents market during the forecast period.
Acetaminophen Reagents Market Overview
Acetaminophen is a commonly used oral antipyretic and analgesic with an excellent safety profile when administered in appropriate therapeutic doses. It is an over-the-counter (OTC) medicine and is widely available. Acetaminophen can be found in numerous products, due to which people underestimate its toxicity. Various OTC cold and flu medicines contain acetaminophen. The generalized dosage of acetaminophen in adults is up to 3,000 mg of single-ingredient acetaminophen a day and less than 3,000 mg for patients aged 65 years and above. Patients ingest excessive amounts of medicine as they misunderstand dosing directions or cannot recognize the availability of acetaminophen in more than one medication they are using.
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Acetaminophen Reagents Market: Strategic Insights
Market Size Value in US$ 539.56 million in 2021 Market Size Value by US$ 750.39 million by 2028 Growth rate CAGR of 4.8% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Acetaminophen Reagents Market: Strategic Insights
| Market Size Value in | US$ 539.56 million in 2021 |
| Market Size Value by | US$ 750.39 million by 2028 |
| Growth rate | CAGR of 4.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Acetaminophen Reagents Market Drivers and Opportunities
Adoption of Acetaminophen Testing
Acetaminophen tests measure the excess amount of drug content in blood to diagnose its overdose, assess the risk of liver damage, and help decide the need for treatment. Acetaminophen toxicity is diagnosed through various diagnostic tests, such as an acetaminophen level, electrolytes, kidney function tests, and liver function tests. Proper diagnosis of acetaminophen level and accurate treatment are essential for a positive outcome. Increasing usage of OTC acetaminophen in several symptomatic treatments increases the volume for acetaminophen testing.
Presence of Limited Key Players in Market
In the acetaminophen reagents market, there is the presence of limited key players. Therefore, they have the vast opportunity to build a trusted image among the customers, meet the surged demand for the products in the market, and adopt various strategies to gain maximum market share. The market players are focused on providing high-quality acetaminophen reagents for immunoassay testing and enzymatic assay. In addition, the growing product adoption by pathology centers and hospitals is anticipated to propel the demand for acetaminophen reagents and offer steady revenue generation to the players in the coming years. Therefore, the increasing number of acetaminophen overdose cases and limited players in the market would offer significant opportunities for the acetaminophen reagents market during the forecast period. Therefore, the increasing number of acetaminophen overdose cases and limited players in the market would offer significant opportunities for the acetaminophen reagents market during the forecast period.
Acetaminophen Reagents Market Report Segmentation Analysis
Key segments that contributed to the derivation of the acetaminophen reagents market analysis are offerings, usage, and end user.
- Based on product, the acetaminophen reagents market is segmented into antibody/substrate reagent, acetaminophen antiserum, enzyme reagent, acetaminophen fluorescein tracer, pretreatment solution. The antibody/substrate reagent segment held a most significant market share in 2023.
- Based on application, the acetaminophen reagents market is bifurcated into enzymatic assays, immunoassay. The enzymatic assays segment held a most significant market share in 2023.
- Based on end users, the acetaminophen reagents market is segmented by hospitals, diagnostics laboratories, POC testing, forensic laboratories, others. The hospitals segment held a largest market share in 2023.
Acetaminophen Reagents Market Share Analysis by Geography
The geographic scope of the acetaminophen reagents market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In North America, the US acetaminophen reagents market holds the largest share in the North American region. The market's growth is attributed to the increasing adoption of acetaminophen testing and product penetration. In addition, the growing incidences of overdose of acetaminophen and various risks associated with that have led to the growth of the market indirectly as the testing calls for new and advanced regents. According to the Journal of Hepatology, in the United States alone, acetaminophen overdose results in roughly 500 deaths per year, as well as close to 10,000 hospitalizations and 50,000 emergency room visits due to the same reasons.
Acetaminophen Reagents Market Report Scope
Acetaminophen Reagents Market News and Recent Developments
The Acetaminophen Reagents Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the acetaminophen reagents market are listed below:
- As assay developers and clinical testing laboratories consider next steps for molecular diagnostics post-pandemic, a new in vitro diagnostic (IVD) system from Thermo Fisher Scientific will enable them to expand their assay menus and IVD testing capabilities moving forward. (Source: Thermo Fisher Scientific., Company Website, November 2021)
Acetaminophen Reagents Market Report Coverage and Deliverables
The “Acetaminophen Reagents Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Acetaminophen reagents market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Acetaminophen reagents market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Acetaminophen reagents market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the acetaminophen reagents market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the acetaminophen reagents market in 2023
Key factors that are driving growth of the market are high incidence of drugs overdose and adoption of acetaminophen testing.
Developments mentioned above would result in significant trends in the acetaminophen reagents market during the forecast period will likely remain a key trend in the market.
Biorbyt Ltd., American Screening Corporation Inc., Thermo Fisher Scientific Inc., Abbott, Siemens Healthineers AG, Sekisui Diagnostics, Beckman Coulter, Inc., Randox Laboratories, Ltd., EKF Diagnostics, Bio-Rad Laboratories Inc.
The market is expected to register a CAGR of 5.9% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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