The active pharmaceutical ingredient market recorded a notable revenue share in the market in 2021 and is set to be worth more than USD 355.94 billion by the end of 2030. It is poised to grow at a healthy CAGR of 7.1% from 2021 to 2030.
The report contains 150+ pages with detailed analysis. The market report also covers the estimated market sizes and trends for different countries across major regions, globally.
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The active pharmaceutical ingredients market growth is driven by an increase in the number of chronic diseases, an increase in the number of geriatric populations around the world. The increased utilization of biopharmaceuticals and rising investments in research and development for drug manufacturing are all contributing to the growth of the global active pharmaceutical ingredients (API) market.
The high production costs and different drug control policies between countries, on the other hand, are projected to hinder the growth of the active pharmaceutical ingredients (API) market. The expansion of active pharmaceutical ingredients (API) market is likely to be aided by an increase in the manufacture of biosimilars, which are generic versions of proprietary medications. The growing importance of generics in the global active pharmaceutical ingredients (API) market is expected to boost the market’s expansion during the forecast period.
Report Scope of the Active Pharmaceutical Ingredient Market
| Report Coverage | Details |
| Market Size | USD 355.94 Billion by 2030 |
| Growth Rate | CAGR of 7.1% from 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type of Manufacturer, Type, Type of Synthesis, Application, Regional Outlook |
Active Pharmaceutical Ingredient Market Report Highlights
- In 2020, the captive active pharmaceutical ingredients (API) category accounted for the highest market share. The quick and easy availability of raw materials and large investments by key market players to construct high end manufacturing facilities are expected to propel it forward to a rapid pace in the future years.
- In 2020, innovative active pharmaceutical ingredients (API) had the biggest market share. The increased research and development initiatives for novel drug development, as well as favorable government laws, are credited with this surge.
- In 2020, the synthetic active pharmaceutical ingredients (API) category had the revenue share. This is due to the increased availability of raw materials and the ease with which these molecules may be synthesized.
Active Pharmaceutical Ingredient Market Dynamics
Drivers
Surge in the use of biosimilar products
The rising frequency of various disorders, the increased demand for biosimilars in diverse therapeutic applications, and the favorable results in ongoing biosimilar clinical trials are all important factors driving the growth of the biosimilars market. Biosimilars are generic versions of copyrighted biologic medications that do not meet the same severe regulatory criteria as branded biologic medicines. Thus, the patents and other intellectual property rights for originator biologics are likely to expire, allowing biosimilars to join the market. As a result, the surge in the use of biosimilar products is propelling the growth of the active pharmaceutical ingredients (API) market during the forecast period.
Restraints
Stringent government regulations
The growth of active pharmaceutical ingredients (API) market players is projected to be limited by strict supervisory techniques and aggressive medication price control strategies implemented in some nations. The active pharmaceutical ingredients (API) market’s growth is expected to be slowed by a shift to digital production and patents for popular pharmaceuticals. Thus, the stringent government regulatory framework is restricting the growth of the active pharmaceutical ingredients (API) market during the forecast period.
Opportunities
Rising prevalence of chronic disorders
The chronic diseases such as asthma, diabetes, coronary artery diseases, cancer, arthritis, and hepatitis have increased dramatically in key locations around the world over the previous few decades. This is due to an increase in the global elderly population, changing lifestyles, and nutritional changes as a result of rapid urbanization. As a result, the rising prevalence of chronic disorders is creating new growth opportunities for the growth of the active pharmaceutical ingredients (API) market during the forecast period.
Challenges
High manufacturing costs
One of the major challenges that active pharmaceutical ingredients (API) market players face is the high cost of manufacturing active pharmaceutical ingredients (API). To ensure compliance with government standards, manufacturers frequently have to make costly investments in their manufacturing units. This includes processes such as renovation of production facilities, compiling a portfolio of product safety and efficacy testing, and familiarizing employees with qualification standards. Furthermore, the costs of acquiring regulatory clearances are more expensive for small businesses. Thus, the high manufacturing costs is a major challenge for the growth of the active pharmaceutical ingredients (API) market during the forecast period.
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Regional Snapshot
Asia-Pacific is the largest segment for active pharmaceutical ingredients (API) market in terms of region.The presence of developing countries such as India and China, which the world relies on for low-cost active pharmaceutical ingredients (API) production, is a benefit for the region. The active pharmaceutical ingredients (API) market is expected to develop due to rising healthcare expenditure in the region.
North America region is the fastest growing region in the active pharmaceutical ingredients (API) market. This is can be attributed to the rising prevalence and incidence of cancer and other lifestyle related diseases, which encourages research and development and thus boosts the active pharmaceutical ingredients (API) market growth.
Some of the noteworthy companies in the active pharmaceutical ingredient market include:
- Albemarle Corporation
- AurobindoPharma
- Reddy’s Laboratories Ltd.
- AbbVieInc
- Teva Pharmaceutical Industries Ltd
- Mylan N.V.
- CiplaInc
- BoehringerIngelheim International GmbH
- Merck & Co., Inc
- Sun Pharmaceutical Industries Ltd
- Bristol-Myers Squibb Company
Segments Covered in the Report
This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of Type of synthesis, type, application, type of manufacturer, and region as follows:
By Type of Manufacturer
- Merchant APIs
- Captive APIs
By Type
- Generic APIs
- Innovative APIs
By Type of Synthesis
- Biotech
- Recombinant Proteins
- Monoclonal Antibodies
- Vaccines
- Synthetic
By Application
- Orthopedic
- Pulmonology
- Gastroenterology
- Endocrinology
- Cardiology
- Oncology
- CNS & Neurology
- Nephrology
- Ophthalmology
- Others
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Middle East & Africa
- Latin America
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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