PAP and Paracetamol Market set to Flourish due to Growing Awareness of Side Effects of Medications

The global PAP and paracetamol market is displaying a rather good profile at present. The global paracetamol market in 2013 was valued at US$0.8 bn, while the global PAP market was valued at US$0.4 bn. The markets will be, respectively, worth US$1.0 bn and US$0.7 bn in 2022.
 
The key players in the global PAP and paracetamol market are Zhejiang Hisun Chemical Co., Wuxi Feipeng Imp. & Exp. (Group) Co., Limited, 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.

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The PAP and paracetamol market is currently being driven, particularly in countries such as South Africa, Brazil, and Argentina, by spikes in healthcare costs and the easy availability of affordable paracetamol drugs without the requirement of a prescription.
 
Rising Awareness Benefits Global PAP and Paracetamol Market
 
One of the key drivers of the global PAP and paracetamol market is the growing awareness regarding the side effects of drugs, which is a precursor to the addition of stringent regulations. These regulations ensure the mitigation of side effects that could prove harmful to a patient. Other drivers of the global PAP and paracetamol market include any sudden epidemics that create a surge in the sales of paracetamol drugs. The global PAP and paracetamol market, except for Europe, can benefit from exporting paracetamol drugs to Europe, as the region no longer manufactures these drugs.
 
North America Largest Consumer, Asia Pacific Largest Producer of PAP and Paracetamol
 
In terms of consumption, North America led the global PAP and paracetamol market in 2013, when the regional paracetamol market was valued at US$394.05 million. The same year, the North America PAP market was worth US$188.9 mn. The North America paracetamol market is expected to reach a value of US$437.1 mn by 2022. The region held a 40.0% share in the global PAP and paracetamol market in 2013, in terms of volume. North America is expected to continue leading the global PAP and paracetamol market due to the large number of PAP and paracetamol manufacturers present in the region, along with the availability of a large number of PAP manufacturers and the advantage that technically advanced manufacturing sites in the region offer. Consumption-wise, Asia Pacific held 24.0% of the global paracetamol market.
 
On the other hand, Asia Pacific is the largest producer in the global PAP and paracetamol market. The region contains a dense population of local paracetamol manufacturers. The China paracetamol market is currently being driven by the large number of manufacturers in the region, the growing presence of advanced manufacturing facilities, and the abundance of cheap labor. Other reasons include the rapid rate of industrialization, which creates a better scope for infrastructure for the market and a ready availability of intermediates and raw materials for paracetamol. In 2013, the demand for PAP weighed in at 65,753.9 tons. Additional driving factors for the global PAP and paracetamol market include government incentives, improvement of regulations that ensure a satisfactory level of production quality, and certifications for good manufacturing practice.

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