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 7.0% during the forecast period 2023
to 2030. The global small molecule API
market share is set to reach a healthy growth 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.
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.
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 outlook 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.
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