Published: Feb, 2018
The global para-aminophenol and paracetamol market is characteristic of intense competition and a high degree of fragmentation, reveals Transparency Market Research (TMR) in a new report. Leading companies in the market are stepping up their supply and production capabilities by partnering with local companies and third-parties to enhance technical expertise and for logistics. These companies are also employing innovative marketing strategies and adopting robust distribution networks to further consolidate themselves in the intensely competitive market.
Prominent names in the para-aminophenol (PAP) and paracetamol market are Taixing Yangzi Pharm Chemical Co. Ltd., Granules India, Anqi Lu’an Pharmaceutical Co. Ltd., and Mallinckrodt. Leading companies are striving to shift operations in emerging economies of Asia Pacific and Latin America to leverage benefits of newly built infrastructure and cheap labor. Lucrative growth opportunities in emerging economies of Asia Pacific is also that companies in the PAP and paracetamol market can bank upon for sustainable returns in the future.
As per a report by TMR, the demand in the global paracetamol market will translate into a revenue of US$1,049.7 mn by the end of 2022 from a valuation of US$900.2 mn in 2014. On the other hand, the PAP market will expand from a valuation of US$452.7 mn in 2014 to US$709.2 mn by the end of 2022. From a geographical standpoint, North America currently leads the PAP and paracetamol market, and is anticipated to hold on to its dominant position in the forthcoming years. Meanwhile, the emergence of Asia Pacific as a key region for the production of PAP and paracetamol will account for the region’s increased market share in the upcoming years. The Asia Pacific PAP market is likely to expand at a healthy 8.1% CAGR between 2014 and 2022.
Rising Patient Pool of Pain-inducing Diseases Drives PAP and Paracetamol Market
Factors stoking demand for PAP and paracetamol are closely associated as 80% of PAP manufactured globally is used for the production of paracetamol. This in turn, has led to vast rise in the production of paracetamol for its extensive use as an analgesic. Other factors fuelling the PAP market include increased usage of PAP for newer applications such as azo dyes, sulfide dyes, photographic developers, and rubber antioxidants. In addition, significant rise in patient pool of infections, gastric problems, and chronic diseases that require pain relievers to subside pain because of primary condition is also acting in favor of the PAP and paracetamol market.
Apart from this, rapid expansion of the manufacturing sector and varied production facilities in emerging economies such as China and India are serving to provide a strong base for chemical manufacturing. This is attracting international pharmaceutical companies to shift operations in these countries. This has boosted the production of PAP in these regions, and is anticipated to positively influence the overall PAP and paracetamol market in the upcoming years.
Rising Awareness about Negative Health Effects of Analgesics Hampers Growth
Increased preference for the production of paracetamol without using solvents is anticipated to have an extensive negative impact on the demand for PAP in the manufacturing sector, thereby challenging the growth of the PAP market to some extent. Additionally, increasing awareness about negative impact on health with excessive use of analgesics is also anticipated to challenge the growth of the global PAP and paracetamol market over the report’s forecast period.
The review presented here is based on the findings of a TMR report, titled “PAP and Paracetamol Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2022.”
- Availability of Diverse Production Facilities Provides Strong Base for Chemical Activities in Asia Pacific
- Rising Patient Pool of Pain Inducing Diseases Stokes Growth
The global PAP and paracetamol market is segmented as follows:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World
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