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.
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.
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.
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Future (MRFR), enable customers to unravel the complexity of various industries
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