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 size 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 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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