Small Molecule API Market Insights To Witness Notable Growth During the Forecast Period 2022-2030

 

Market Insights:

Market Research Future (MRFR)’s latest study asserts that the global small molecule API market is set to expand at a CAGR of 7% during the forecast period 2023 to 2030. The global small molecule API market size is set to reach a value over USD 278.6 billion by 2030. The increased investments in the research & findings coupled with government support are likely to propel the market growth in the forthcoming years.

The pharmaceutical industry is presently making massive profits and is equipped with developed infrastructure. The pharmaceutical industry is anticipated to expand in the foreseeable future. This, in turn, is expected to drive the growth of the small molecule API market. Additionally, the increase in the prevalence of diseases coupled with the discovery of new viruses and diseases is prognosticated to affect the small molecule API market proliferation positively.

Some of the factors responsible for favoring the expansion of the small molecule API market include growing demand for small molecule drugs, rising access to the medication in developing and underdeveloped countries, entry of big CMOs into the market, etc. Furthermore, rising burden of cardiovascular diseases and cancer is forecasted to intensify the competition among the players of the small molecule API market. According to the American Cancer Society, 1,735,350 new cancer cases and 609,640 cancer deaths are estimated in the U.S. alone.

Competitive Dashboard:

Small Molecule API Market players profiled in the report are Albemarle Corporation, Dr. Reddy’s Laboratories Ltd, GlaxoSmithKline Plc, Lonza, Merck Sharp & Dohme Corp., Allergan Plc, Aurobindo Pharma, Cambrex Corporation, Mylan N.V., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd, Novartis AG, Pfizer Inc., and Siegfried AG.

Market Segmentation:

By type, the small molecule API market has been segmented into synthetic/chemical API, and biological API. Synthetic/chemical API segment currently holds 81.4% share of the market. It is likely to retain its pole position over the forecast period.

By application, the global small molecule API market is segmented into cardiovascular, oncology, diabetes, immunological disorders, and others. The cardiovascular segment held the maximum share of the market in 2015. It is anticipated to show positive growth across the review period.

By manufacturing method, the small molecule API market has been segmented into in-house and contract.

Regional Analysis:

By region, the global small molecule API market insights has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa. North America is the largest market for small molecule API. It is expected to retain a significant market share through the assessment period. The factors favoring the expansion of the regional market include developed healthcare sector, availability of funds, increasing clinical trials, rising burden of cancer, etc.

Europe is the second largest small molecule API market. It is estimated to exhibit healthy growth over the next few years. The growth is attributable to the initiatives undertaken by the governments to support the expansion oh pharmaceutical industry. Furthermore, the availability of funds coupled with the adoption of next-gen healthcare technology is anticipated to aid market proliferation in the region.

Asia Pacific is projected to thrive at the highest CAGR during the review period. The Asian countries have an abundance of raw materials required for drug manufacturing. Additionally, low labor cost and regulatory relaxations have aided profit maximization for the regional market players. Asia Pacific is one of the significant exporters of small molecule drug, and the trend is projected to continue over the next few years.

The Middle East & Africa is set to exhibit steady growth. The African regions lack proper healthcare facilities and resonate strong growth opportunities. However, the Middle Eastern countries such as Qatar and Kuwait are expected to witness considerable growth due to the developed healthcare sector and increasing awareness.

About US:

Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York,

New York 10013

United States of America