The global Active Pharmaceutical Ingredients Market size is expected to reach USD 353.0 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.0% during the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical Ingredients (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 active pharmaceutical Ingredients market was
positively influenced by the COVID-19 pandemic, as countries and significant
players produce large quantities of components to meet the demand for the
treatment of COVID-19. As a result of the outbreak, drug companies have
changed the companies’ strategies to focus on a larger patient population.
To treat coronavirus, the U.S., for example, requested that HCQ be imported
from India. The virus has also impacted Canada's medicine supply system,
potentially causing complications for patients. The increasing importance of
generics, rise in consumption of biopharmaceuticals, and expanding drug
research and development activities for drug manufacturing are the primary
drivers driving the growth of the market. However, the market's expansion is
likely to be hampered by unfavorable drug price control regimes in several
countries and high manufacturing costs.
Developing nations like India are receiving an
increased preference in the market over dominant API market countries, like
China, owing to geopolitical situations. Furthermore, India has quality raw
materials and products, a large workforce, a vast distribution network, and
government subsidies through the "Make in India" program.
To address 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 November 2021, Merck & Co Inc. announced that it has acquired Acceleron
Pharma, this acquisition would help Merck & Co to expand their
cardiovascular portfolio and pipeline.
Related Press Release@ Active Pharmaceutical Ingredients Market Report
Active Pharmaceutical Ingredients
Market Report Highlights
- The innovative APIs segment dominated the market in terms of the
revenue share of 66.3% in 2021, owing to increasing research and
development activities for novel drug development and positive government
initiatives
- The cardiovascular disease segment held the largest revenue share
of 19.5% in 2021, attributed to the rising prevalence of target disease
globally
- The synthetic API segment dominated the market with the largest
revenue share of 72.6% in 2021, owing to the higher availability of raw
materials and easier protocols for the synthesis of these molecules
- North America accounted for the largest revenue share of 39.0% in
2021 and is expected to maintain its lead over the forecast period. This
is attributed to the rising epidemiology of cancer, along with other
lifestyle-induced diseases, thus encouraging the R&D activities,
thereby boosting the market growth
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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