Paracetamol Market Scope And Analysis

Paracetamol Market Report Scope

Industry Developments and Future Opportunities:

The paracetamol market forecast can help stakeholders in this marketplace plan their growth strategies. A few initiatives taken by key players operating in the global paracetamol market are listed below:

1. In October 2023, the Minister for Mental Health and Older People in Ireland launched a new campaign to promote safe paracetamol sales in pharmacy and non-pharmacy retail settings. The campaign has been launched to make new sets of information available for employees from these settings. The program also intends to raise awareness of paracetamol-related intentional drug overdose among pharmacy and non-pharmacy retail staff in Ireland.
2. In April 2022, IOL Chemicals & Pharmaceuticals Ltd commenced the commercial production of “Paracetamol” with an installed capacity of 1800 MTPA and backward integration of Para Amino Phenol (PAP). The company manufactures Paracetamol in its existing Unit No. 4, which has been converted as a multiproduct facility, costing ~US$ 1.2 million (nearly INR 100 lakh). On the other hand, PAP is being manufactured in a part of Unit No 9. The company shall continue to use Unit 4 and Unit 9 to manufacture other products as per market conditions.
3. In March 2022, Paraveganio became the world's first medicinal product registered under the Vegan Trademark approved by the Vegan Society. Paracetamol tablets generally have magnesium stearate, which acts as a flow regulator. It is a stearic acid and magnesium salt that may be derived from animals. Axunio's Paraveganio contains magnesium stearate derived entirely from vegetables.
4. In July 2021, Hyloris Pharmaceuticals SA announced the launch of Maxigesic IV in Germany and Austria. Maxigesic IV is a novel, patented, non-opioid treatment for postoperative pain and is a unique combination of 1,000 mg paracetamol and 300 mg ibuprofen solution for infusion. Hyloris and AFT Pharmaceuticals (a partner of Hyloris) have various distribution partners with strong local presence, which help them commercialize the product worldwide.

Competitive Landscape and Key Companies:

Mallinckrodt Pharmaceuticals; GSK plc; Teva Pharmaceutical Industries Ltd.; Sun Pharmaceuticals; Sanofi; Micro Labs Limited; Cipla Inc.; B. Braun Medical Inc.; Dr. Reddy’s Laboratories Ltd; and Fresenius Kabi are among the prominent players profiled in the paracetamol market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem.