But Flinders Medical Centre specialist pharmacist Dr Luke Grzeskowiak, who is not one of the authors, said the absolute risks of these were "low" and most women who took paracetamol during pregnancy would be fine.
"Thinking about numbers of women taking this while pregnant, the vast majority – 95 per cent plus – are going to have a healthy baby," Grzeskowiak said.
"If it was creating a big problem we would know about it by now."
Grzeskowiak supported the authors' suggestion for better and more specific research in the area.
While there was some research to suggest there could be an increased risk of undescended testicles, early puberty, or neurological conditions such as attention-deficit hyperactivity disorder associated with the drug, experts say there is still not enough evidence.
The consensus statement published on Friday called for pregnant women to use the lowest dose of the painkiller necessary to treat their issue and speak to a medical professional such as a pharmacist, doctor or midwife about any concerns.
This was especially important if expectant mums were finding they were reaching for paracetamol to address ongoing pain or other issues.
"It could be an underlying condition, such as infection, causing a fever that actually needs to be treated," Grzeskowiak said.
Warning labels should also be included on packages of medications that include paracetamol, according to the group.
A Royal Australian and New Zealand College of Obstetricians and Gynaecologists spokesman said there was "no clear evidence" that paracetamol had any harmful effects on an unborn baby.
"It has been used routinely during all stages of pregnancy to reduce high temperatures and for pain relief," the spokesman said.
