The
global Small
Molecule API Market size is expected to reach USD 282.50 billion by
2030, expanding at a CAGR of 5.44% during the forecast period, according to a
new report by Grand View Research, Inc. It is driven by an increase in demand
for pharmaceuticals globally and a high rate of new small molecule-based drug
approval.
The
increasing number of new pharmaceuticals entering the market is creating a
lucrative opportunity for key players. For instance, as per NCBI in 2021, 75%
of the drugs accepted by the FDA were small molecules, with the dominant
therapeutic area being oncology. Over 50% of these approvals were from small
and mid-sized companies which require support from CDMOs for the
commercialization of products that enhance the growth rate of CDMOs.
The
COVID-19 pandemic has made supply-chain shortcomings in the small-molecule API
business apparent, as most of the production facilities are located in Asian
nations such as India and China. This has increased the focus of players on
creating an end-to-end integrated supply chain for the clients and increased
the number of facilities in western countries with heightened support from the
government for doing the same.
Merger
and acquisition activities are frequently being undertaken by the players to
meet the soaring demands globally. For instance, in April 2022, Novasep and
PharmaZell announced a strategic merger for the creation of a leading
technologically-driven CDMO for complex small molecules and specialty API
production.
Expansion
and diversification are becoming key strategies used by key players in the
market to maintain their market share. For instance, in April 2021, Lonza
announced its investment plan of USD 218.6 million for the construction of a
manufacturing complex for small molecules in Switzerland. The facility is expected
to ensure continuity and flexibility of supply for the products.
Emerging
markets such as China, India, and Southeast Asia represent significant
opportunities for growth. Furthermore, niche areas such as “halal API” further
present growth opportunities owing to the rise in the demand for drugs in the
segment, majorly in Middle Eastern and Southeast Asian nations. The synthetic
small molecule API segment is largely driven by the presence of small companies
and CDMOs that cater to the changing requirements of the industry.
Related Press
Release@ Small
Molecule API Market Report
Small Molecule API Market Report Highlights
- In 2021,
synthetic APIs held the largest market share attributable to the high
demand for the production of pharmaceuticals that are required in high
volume
- The
outsourced manufacturing segment held the largest market share owing to a
dependency of small and mid-sized companies on outsourcing for commercial
production
- Oncology is
projected to grow at the fastest rate in the application segment as the
adoption of cancer treatments is rising, creating a strong demand for API
- North
America dominated the market in 2021 due to the presence of key players
and rising support from the government for enhancing the API manufacturing
capacity of the region
About Us:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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