The global Active Pharmaceutical Ingredients Market size is expected to reach USD 312.56 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical ingredient (API) manufacturing, and an increase in the geriatric population.
The
growth of the captive API segment is propelled by companies investing in
solving challenges and developing new chemical ways for the production of APIs
in house. This aids in reducing costs and the risk of contamination. Artificial
intelligence and protein synthesis are expected to facilitate faster
development with greater control over the process.
The
rising prevalence of chronic and lifestyle-based conditions, such as
cardiovascular diseases, is accelerating the demand for API. For instance, as
per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that
supports cardiovascular disease development. Cardiovascular diseases are one of
the global, critical public health burdens driving extensive R&D for APIs
in the field.
The
generic API segment is gaining share in the market owing to its cost
effectiveness, which helps in catering to the needs of the rising number of
patients in developing regions with a low-income population. According to the
Association for Accessible Medicines (AAM), in 2017, there was a considerable
rise in manufacturing units in Asia, Australia, and EU5. There has also been an
increase in the market share of generic drugs.
Developing
nations like India are receiving an increased preference in the market over
dominant API market countries, like China, owing to geopolitical situations.
Furthermore, other factors favoring India include quality raw materials and
products, large workforce, vast distribution network, and government subsidies
under schemes like “Make in India”.
For
addressing unmet medical needs, companies are collaborating to develop novel
treatments. This allows firms to use their resources to aid in the development
of products and enhance the supply chain. In August 2019, OmniChem Private
Limited was acquired by Ajinomoto Bio-Pharma Services (earlier they were in a
joint venture since 2011 for the manufacturing of APIs). The acquisition was
completed in June 2020.
Related Press
Release @ Active
Pharmaceutical Ingredient Market Report
Active Pharmaceutical Ingredient Market Report Highlights
- According to
the WHO, around 17.5 million people die each year due to cardiovascular
diseases, accounting for 31% of all deaths across the globe
- The growing
geriatric population in Asian countries, such as Japan and China, along
with high untapped opportunities, is expected to drive the market during
the forecast period. It is estimated that over 20% of the Japanese
population is aged 65 and above
- According to
the CDC, about 795,000 people in the U.S. suffer from stroke every year,
out of which 87% cases are of ischemic stroke
- Companies
are looking to diversify their API suppliers and manufacturers to
different locations instead of outsourcing it to just one manufacturer or
country
- Key players
are increasingly focusing on vaccines, for instance, Sanofi announced
an investment of USD 601.37 million for vaccine production and research in
France. These investments are anticipated to drive the development of new
vaccine APIs in the coming years to help facilitate readiness to deliver
new products
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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