Active Pharmaceutical Ingredients Market Overview
The
global active
pharmaceutical ingredients market share was valued at USD 277.1
billion in 2021 and is projected to grow from USD 299.21 billion in 2022 to USD
512.13 billion by 2030, exhibiting a compound annual growth rate (CAGR) of
7.98% during the forecast period (2022 - 2030)according to the latest research
report from Market Research Future (MRFR). The report studies the market in
detail to understand the market’s historical growth trajectory and furthermore
makes projections about the market’s likely growth trajectory over the forecast
period from 2022 to 2030. Key drivers and restraints affecting the global
active pharmaceutical ingredients market are profiled in detail in the report.
Active
pharmaceutical ingredients (APIs) are the core of any pharmaceutical
formulation and comprise the part of the formulation that actually tackles the
respective disease. As a result, active pharmaceutical ingredients are among
the most valued and studied components of the pharmaceutical sector and are
researched extensively in order to bring about steady drug development in
various fields. The growing prevalence of various major diseases has led to a
growing demand for new active pharmaceutical ingredients, which is likely to be
a major driver for the global Active Pharmaceutical Ingredients Market.
Capacity expansion as well as research and development into the development of
new APIs are likely to be promising avenues for major players in market over
the forecast period. The increasing importance of generics across the
healthcare sector is also likely to be a major driver for the market over the
forecast period.
The
increasing interest in biopharmaceuticals is likely to be a key driver for the
market over the forecast period. Due to the increasing interest in biologically
based, natural remedies, the biopharmaceuticals market has grown by leaps and
bounds. Consumers widely prefer biopharmaceuticals to conventional
pharmaceutical products, as the former represent safer formulations with less
side effects. This is likely to be a key feature in the market over the
forecast period.
Market Segmentation
The
global active
pharmaceutical ingredients market outlook is segmented on the basis of
manufacturing process, type of synthesis, API formulation, application,
molecule type, and region.
By
manufacturing process, the global active pharmaceutical ingredients market is
bifurcated into captive and contract manufacturing.
By
type of synthesis, the market is segmented into synthetic and biotech. The
biotech synthesis segment is further sub-segmented into monoclonal antibodies,
recombinant proteins, vaccines, and others.
By
API formulation, the market is segmented into generic and branded/innovative.
By
application, the market is segmented into cardiovascular diseases, oncology,
neurological disorders, orthopedic disorders, respiratory disorders,
gastrointestinal disorders, urology, and others. The cardiovascular disease
segment holds the largest share in the market and is likely to remain the
leading revenue generator over the forecast period due to the growing demand
for effective cardiovascular drug formulations. The growing prevalence of
cardiovascular diseases in developed regions is also likely to be a major
driver for the segment over the forecast period.
Based
on molecule type, the market is segmented into small molecule and large
molecule.
Regional Analysis
By
region, the active pharmaceutical ingredients market report covers the recent
trends and growth opportunities across North America, Europe, the Asia Pacific
(APAC), and the Middle East and Africa (MEA). Of these, North America will lead
the market during the forecast period for technological advancements, high
economic development, and rising incidence of cancer as well as other
lifestyle-associated diseases.
The
market in Europe is predicted to hold the second-largest share in the market
for the rising initiatives which support the creation of generic drugs.
Moreover, favorable reimbursement policies, improving pricing, and huge
manufacturing activities are also adding market growth.
The
market in the Asia Pacific region is predicted to develop at a quick pace
during the forecast period. The availability of cheap labor and leading
companies setting up active pharmaceutical ingredients’ plants in China as well
as India are adding to the market growth.
The
market in the MEA is predicted to have a small share during the forecast
period.
Key Players
Active
Pharmaceutical Ingredients Market Players Leading players profiled in the
global active pharmaceutical ingredients (API) market report include Teva
Pharmaceutical Industries Ltd, Novartis AG, Merck & Co., Inc.,
GlaxoSmithKline Plc (GSK), Boehringer Ingelheim GmbH, Abbott Laboratories,
Sanofi, F. , Pfizer Inc., Eli Lilly and Company, Hoffmann-La Roche AG, and
Bayer AG. Industry players have incorporated strategies such as mergers,
acquisitions, product launches, and others to stay ahead in the competition.
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