The global High Potency Active Pharmaceutical Ingredients Market size is expected to reach USD 38.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.4% from 2021 to 2028. The market is driven by an increased focus on targeted therapies and a surge in demand for cancer therapies.
The rising prevalence of cancer is a major factor
expected to drive the market for high potency active pharmaceutical ingredients
(HPAPIs). According to the WHO, cancer is the second biggest cause of death,
causing over 9.6 million deaths in 2018 and the use of tobacco is responsible
for 22% of cancer deaths. As per the CDC, the risk factors such as lifestyle
changes including smoking, obesity, alcohol consumption, and exposure to UV
radiation from the sun or tanning beds have contributed to the overall burden
of the disease. Moreover, the cost of cancer care is anticipated to reach USD
174 billion by the end of 2020, which is anticipated to accelerate the market
growth.
Increased demand for antiviral drugs such as
remdesivir for COVID-19 treatment is fueling the demand for high potency
antiviral HPAPIs. The change in supplier dynamics owing to COVID-19 and the
increased focus of governments on pharmaceutical raw materials, such as HPAPIs,
are driving the market.
Japan and China are among the leading countries with
numerous biotech companies involved in the production of HPAPIs. The presence
of major companies such as Takeda and Sankyo has boosted the development of
biotechnology-derived APIs in these countries. Furthermore, the growth of the
biotech segment can be attributed to the high investments in the biotechnology
and biopharmaceutical sectors. This allows the innovation of new molecules that
aid in the treatment of diseases, such as cancer.
Key players are leveraging various strategies to
increase their production capabilities and promote the outreach of their
product offerings. For instance, in July 2020, CordenPharma International
announced the expansion of its peptide manufacturing unit in Colorado to
address the increased demand for peptide APIs. This expansion will enable the
company to grow and help in generating increased revenue.
Related Press Release@ High Potency Active Pharmaceutical Ingredients Market Report
High Potency Active
Pharmaceutical Ingredients Market Report Highlights
- In 2020, the synthetic product segment held the largest share of
over 70.0% owing to the easy availability of raw materials and highly
developed manufacturing systems
- By manufacturer type, the outsourced segment is projected to grow
at the fastest rate over the forecast period
- Based on drug type, the innovative segment held the largest revenue
share in 2020 owing to the increased focus on R&D
- In terms of application, the oncology segment dominated the HPAPIs
market in 2020 owing to the rising incidence of cancer worldwide
- Asia Pacific is expected to witness the fastest growth during the
forecast period due to the improving manufacturing infrastructure and the
presence of numerous generic HPAPI manufacturing companies
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in San Francisco. The company provides syndicated research reports, customized
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