Paracetamol IV Market Size, Share & Trends Analysis Report By Application (Surgical, Non-surgical), By Indication (Pyrexia, Pain), By End-use (Hospitals, Clinics), By Region (APAC, Europe), And Segment Forecasts, 2022 - 2030

Report Overview

The global paracetamol IV market size was valued at USD 700.24 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.97% from 2022 to 2030. The market is driven by the increasing use of paracetamol IV in reducing pain and relieving fever in post-surgical procedures. Paracetamol when given intravenously acts as an effective treatment option in relieving pain and gives rapid relief. Moreover, the use of intravenous paracetamol in combination with NSAIDs and narcotics has been gaining popularity and acceptance, which further propels the growth of the industry. The COVID-19 pandemic had a significant impact on the industry. In mid-March, the American College of Surgeons (ACS) and other significant surgical specialty societies published guidelines for triage of elective surgical procedures by surgical specialty & advised minimizing, delaying, or canceling elective surgical procedures.

However, increased use of IV paracetamol in SARS-CoV-2 hospitalized patients for pain and pyrexia management boosted the overall industry growth. Paracetamol IV is extensively used in cases when a quick effect is needed and when the oral form is inefficient in treating pain due to its slower mechanism of action in reducing pain and limited use due to its poor solubility, dissolution, and instability in aqueous solution. Moreover, it has a very low incidence of side effects and drug interactions and is tolerated well. Furthermore, the product usage in combination with other narcotic drugs can help provide relief from mild to severe pain. Paracetamol when used in conjunction with opioid analgesics to treat acute pain, can significantly reduce the need for them.

For instance, in 2021, a combination of acetaminophen and ibuprofen was under study by Hikma Pharmaceuticals for postoperative pain management. New Drug Application for the drug was accepted by the FDA in November 2021. However, the high prices and overdose of the product are among the major restraints to the growth of this industry. During treatment with intravenous paracetamol 10 mg/mL solution for infusion (Perfalgan), cases of unintentional overdose have been documented. Because the prescription for Perfalgan is written in mg and then administered in mL, it is being confused with mg, and an overdose most often in infants and neonates has been reported. In most of these cases, a 10-fold overdose was reported.

Indication Insights

Based on indications, the global industry has been further bifurcated into pain and pyrexia (fever). The pain indication segment dominated the global industry in 2021 and accounted for the maximum share of more than 66.95% of the overall revenue. The high share of this segment was attributed to the effectiveness and rapid action of paracetamol being administered intravenously in pain management. A single dose of paracetamol given intravenously is effective in relieving pain for around 4 hours for about 37% of patients with acute post-operative pain. Moreover, paracetamol IV is effective and safe for the treatment of postoperative pain in both children and adults.

This, in turn, makes it more feasible to be used for a large patient pool. In addition, the product is considered a first-line treatment for acute pain and chronic pain as it is a non-addictive pain treatment. On the other hand, the pyrexia (fever) indication segment is projected to expand at the fastest growth rate during the forecast period. This can be attributed to the acceptance of paracetamol IV as the first line of treatment for fever and pain in pediatric patients. With the increasing pediatric population, the usage of paracetamol through infusion is also rising. However, the product is only used for short-term treatment, which, in turn, limits its adoption.

Application Insights

Based on applications, the global industry has been further categorized into surgical and non-surgical. The surgical application segment dominated the global industry in 2021 and accounted for the maximum share of more than 63.45% of the overall revenue. The high share of this segment can be credited to the increased usage of paracetamol IV for the treatment of post-operative pain and quicker relief from fever. After surgery, most patients go through acute and mild pain, which, in turn, requires early treatment. With the increasing volumes of surgeries performed and the need to provide relief within a short duration of time, the adoption of paracetamol IV is projected to rise.

On the other hand, the non-surgical application segment is expected to register the fastest growth rate during the forecast period. The fastest growth of the non-surgical segment can be attributed to the increasing awareness among the population about the treatment of discomfort and fever-related symptoms. A wide range of paracetamol IV products is available in syringe form, which makes it easy to use and offers a quick effect. For instance, a liquid injectable form comprising acetaminophen, hydroxyethyl starch, and at least one osmolality agent is widely accepted as an infusion.

End-use Insights

Based on end-uses, the global industry has been further sub-segmented into hospitals, clinics, and others. The hospitals end-use segment dominated the overall industry in 2021. The segment accounted for the maximum share of more than 52.20% of the global revenue in the same year. It is projected to expand further at a significant growth rate during the forecast period maintaining its leading position. The dominance of this segment can be attributed to the increasing number of surgeries carried out in hospitals on account of the presence of qualified and specialized healthcare professionals.

The need for rapid relief from post-operative surgeries is further driving the growth of the segment. The clinics end-use segment is expected to account for the second-highest revenue share by 2030 on account of the increasing cases of short-term treatment of fever during urgent need to induce hypothermia. There is a high demand for treatments in clinics due to the easy access for remotely located patients. Moreover, the rising number of technological advancements and adoption of types of equipment in clinics is further spurring the growth of the segment.

Regional Insights

North America dominated the global sector in 2021 and accounted for the maximum share of more than 40.10% of the overall revenue. The dominance of the market is attributed to the popularity of paracetamol IV as it is one of the most frequently used medications with sales surpassing millions of doses every year. The formulation is highly used in hospitals and healthcare systems to treat patients with acute to mild pain. The use of the intravenous drug in emergency surgery, cohorts where the risk of morbidity can be reduced by adequately maintaining hemodynamics is further fueling the growth of the sector in this region.

Asia Pacific, on the other hand, is projected to grow at the fastest CAGR during the forecast period on account of the increasing prevalence of chronic diseases, rapid growth in the geriatric population, and the presence of key industry participants. Moreover, high product demand, due to lower costs associated with the drug and quick relief offered in postoperative pain, will drive the region’s growth over the coming years. For instance, according to the UNFPA, the older population in Asia is rising at an unprecedented rate, and it is expected to triple reaching 1.3 billion by 2050. Key players in the region include Cipla Inc., Sun Pharmaceutical Industries Ltd., and Lupin.

Key Companies & Market Share Insights

An increasing number of product launches is becoming a key strategy being adopted by the industry participants. For instance, in July 2021, Maxigesic IV was launched by Hyloris in the Europe market. The product is now available in Austria and Germany, the largest pharmaceutical markets in Europe. The company has further partnered with AFT Pharmaceuticals to enhance commercialization and build local distribution. Some of the key players in the global paracetamol IV market include:

• Mallinckrodt (Mallinckrodt Pharmaceuticals)

• Cipla Inc.

• Lupin

• Dr. Reddy's Laboratories Ltd.

• Aurobindo Pharma

• Sun Pharmaceutical Industries Ltd.

• Novartis AG

• Pfizer, Inc.

• Abbott

• Sanofi

• Bristol-Myers Squibb Company

Paracetamol IV Market Report Scope

Global Paracetamol IV Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global paracetamol IV market report based on indication, application, end-use, and region:

• Indication Outlook (Revenue, USD Million, 2018 - 2030)

  • Pain

  • Pyrexia (Fever)

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Surgical

  • Non-surgical

• End-use Outlook (Revenue, USD Million, 2018-2030)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE