Paracetamol IV Market Growth & Trends
The global paracetamol IV market size is expected to reach USD 994.23 million by 2030, registering a CAGR of 3.97% from 2022 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of chronic disorders that requires pain management is expected to facilitate the growth of the industry during the forecast period. The enhanced usage of acetaminophen to reduce the dependence on opioids for pain management is projected to accelerate the growth in demand for paracetamol IV. The IV paracetamol is a stable acetaminophen form and is intended for mild to moderate pain management. It is used over other NSAIDs to treat patients with a history of peptic ulcers and asthma, as it lacks interference with the function of platelets.
Rising cases of patients reporting postoperative pain are expected to propel the demand for drugs and products with fewer side effects. As per the article published in the International Journal of Surgery, in March 2022, 77% - 83% of patients in the U.S., 80% of patients in Thailand, 76% of patients in Sweden, and 29.5% of patients in Germany reported severe to moderate postoperative pain. The IV paracetamol is intended for usage in the treatment of acute postoperative pain and during the surgeries, such as orthopedic, dental, and gynecological. A rise in the number of surgeries performed and patients experiencing post-operative pain is expected to create a high product demand in the years to come. However, the availability of multiple generic products is expected to hinder the industry during the forecast period.
For instance, in December 2020, Sandoz International GmbH launched a generic acetaminophen injection in the U.S. The product will be available in 10 mg/mL concentration, in a 100 mL vial for the treatment of mild to moderate in conjunction with opioid analgesics for pediatric patients. Key players operating in the global industry are following various strategic initiatives for business expansion and to gain a competitive edge over others. For instance, in December 2021, Leucadia Pharmaceuticals launched and announced the availability of a generic acetaminophen injection, which is an FDA-approved generic that corresponds to the acetaminophen injection manufactured by Mallinckrodt Pharmaceuticals.
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Paracetamol IV Market Report Highlights
Based on application, the pyrexia segment is estimated to register the fastest CAGR from 2022 to 2030
The growth of the segment is attributed to the rapid action & effectiveness of paracetamol being administered intravenously
The surgical application segment held the largest revenue share in 2021 due to the increased usage of paracetamol IV for the treatment of post-operative pain and rapid relief from fever
North America dominated the global industry in 2021 owing to high product usage for reducing the dependence of the economy on opioids for the management of pain
Companies are focusing on geographical expansion by adopting strategies, such as collaborations, partnerships, new product launches, and strategic initiatives to maintain a competitive position in the industry
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