Hospitals Segment to Dominate APAC Acetaminophen Reagents Market During 2021–2028   

According to a new market research study on “APAC Acetaminophen Reagents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 153.15 million by 2028 from US$ 104.80 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. The report provides trends prevailing in the APAC acetaminophen reagents market along with the drivers and restraints pertaining to the market growth. Limited players present in the market and rising technological advancements in immunoassay-based acetaminophen reagents are the major factor driving the growth of the APAC acetaminophen reagents market. However, increased risk of ADHD and other complication in pregnancy hinder the growth of APAC acetaminophen reagents market.     

In case of COVID-19, APAC is highly affected specially India. COVID-19 pandemic has poised an unprecedented sanitary risk. Paracetamol or acetaminophen is suggested as an alternative to ibuprofen for treating COVID-19 symptoms. Drugs that may decrease the brutality of the infection and decrease the high mortality rate. To this end, several medicines have been repurposed, including paracetamol. It can help to relieve patients with these symptoms; however, it is not a cure against COVID-19. Pharmacies have been running short of Acetaminophen and some shops have been limiting the sales of these drugs. Although, pharmaceutical companies have improved their production capacity significantly to keep pace with the growing demand for the drugs. In turn, it is projected to have a positive impact on the target industry growth. However, the market has stabilized compared to the initial phases of the pandemic owing to the control procedures, awareness among people, availability of vaccinations, and supportive government policies of the business in the related market. There was a big impact of COVID-19 in APAC has been the closure of and disruption to health services for mothers and children across the region. Most children have asymptomatic or mild diseases that parents can handle at home. The treatment is symptomatic, with paracetamol for fever and careful monitoring for deterioration by assessing respiratory rates, difficulty breathing, oral intake, and oxygen saturation.

The APAC acetaminophen reagents market has been segmented based on product, application, end user, and country. Based on product, the market has been segmented into antibody/substrate reagent, enzyme reagent, acetaminophen antiserum, acetaminophen fluorescein tracer, and pretreatment solution. The antibody/substrate reagent segment dominated the market in 2020 and enzyme reagent segment is expected to be fastest growing during forecast period. Based on application, the market has been segmented as enzymatic assays and immunoassay. The enzymatic assays segment dominated the market in 2020 and immunoassay segment is expected to be fastest growing during forecast period.  Based on end user, the market has been segmented into hospitals, diagnostics laboratories, POC testing, forensic laboratories, and others. The hospitals segment dominated the market in 2020 and diagnostics laboratories segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC. 

Abbott; American Screening Corporation, Inc.; Beckman Coulter, Inc.; Bio-Rad Laboratories, Inc.; Biorbyt Ltd.; EKF Diagnostics; Randox Laboratories, Ltd.; Sekisui Diagnostics; Siemens Healthineers AG; and Thermo Fisher Scientific Inc. are among the leading companies in the APAC acetaminophen reagents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Beckman Coulter Diagnostics, a global leader in the clinical diagnostics industry, has embarked on a strategic collaboration with the University of California, Irvine – one of the first targeted academic partnerships the company envisions around the globe.           

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