Rockville, March 16, 2023 (GLOBE NEWSWIRE) -- According to the latest industry report by Fact.MR, a market research and competitive intelligence provider, the global sterile active pharmaceutical ingredients market stands at US$ 69.7 billion at present and is expected to progress at a CAGR of 6.4% between 2022 and 2032.
The development of novel medications for uncommon conditions, rising prevalence of chronic diseases, and an ageing population have all increased pharmaceutical product use, which has raised pharmaceutical spending internationally. Pharmaceutical ingredients, when used in the creation of medicines, are said to be active.
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The impact of COVID-19 resulted in market expansion of sterile active pharmaceutical ingredients (APIs) to address patients’ symptoms followed by variety of medical ailments. Market expansion has also been accelerated by ongoing API research and development. On the other side, it is anticipated that market progress will be hampered by high production costs and varied drug control laws across nations.
Report Attributes | Details |
| Forecast Period | 2022 - 2032 |
| Value Projection (2032) | US$ 130.2 Billion |
| Growth Rate (2022-2032) | 6.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 42 Tables |
| No. of Figures | 85 Figures |
Key Takeaways from Market Study
- The global sterile active pharmaceutical ingredients market is projected to expand at a CAGR of 6.4% from 2022 to 2032.
- The market stands at a value of US$ 69.7 billion in 2022.
- Under drug class, monoclonal antibodies lead the market and were valued at US$ 16.8 billion in 2021.
- North America leads the global market with 26.9% share in 2021.
- Demand for sterile active pharmaceutical ingredients is expected to increase at CAGRs of 5.9% and 5.5%, respectively, in Europe and North America, through 2032.
“Ever-growing population and emerging life-threatening diseases will boost the need sterile active pharmaceutical ingredients,” says a Fact.MR Analyst.
How has the United States' sterile API production evolved over the years?
Due to significant financial support for biomedical research, the United States leads the world in drug discovery and development. Yet it is no longer the industry leader in pharmaceutical production. Most medicines used by Americans for a long time were produced in the nation. Nonetheless, in recent years, there has been a steady change in the location of pharmaceutical production away from the United States. The manufacturing of sterile active medicinal components is a case in point. As of August 2019, just 28% of API manufacturing facilities were located in the United States.
FDA is hopeful that new manufacturing technology would enable American pharmaceutical firms to compete more successfully with those in China and other countries, perhaps maintaining a consistent supply of medications essential to the health of American patients. From 2022 to 2032, this is anticipated to propel the U.S. sterile API market forward at a CAGR of 5.4%.
Winning Strategy
A developing requirement for parenteral drugs, biologics, and ophthalmic arrangements has makers focusing on developing their product offerings connected with sterile active pharmaceutical ingredients. Expanding creation limits is being achieved by key industry members utilizing procurement and consolidation strategies.
- In September 2019, ten23 health, a global contract development and manufacturing organization (CDMO), announced the completion of a new sterile manufacturing facility in Visp, Switzerland.
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Key Companies Profiled in Sterile Active Pharmaceutical Ingredients Market report
- Aurobindo Pharma Limited
- Teva Pharmaceutical Industries Ltd.
- Corden Pharma GmbH
- Dalton Pharma Services
- Pfizer Inc
- Sun Pharmaceutical Industries Ltd.
- Lonza Group
- Albany Molecular Research Inc.
- Sanofi S.A
- Dr. Reddy’s Laboratories Ltd.
Segmentation of Sterile Active Pharmaceutical Ingredients Industry Research
- By Product Type :
- Monoclonal Antibodies
- Immunoglobulin
- Cytokines
- Insulin
- Peptide Hormones
- Blood Factors
- Peptide Antibiotics
- Vaccines
- Small Molecule Antibiotics
- Highly Potent Active Pharmaceutical Ingredients (HPAPI)
- Others
- By Form :
- Aqueous
- Non-aqueous Liquid
- Dry Powder
Market Development
Despite challenging economic conditions, the business environment in the sterile active pharmaceutical ingredient market continues to display excellent opportunities. Market players such as Aurobindo Pharma Limited, Teva Pharmaceutical Industries Ltd., Corden Pharma GmbH, Dalton Pharma Services, Pfizer Inc, Sun Pharmaceutical Industries Ltd., Lonza Group, Albany Molecular Research Inc., Sanofi S.A, and Dr. Reddy’s Laboratories Ltd are competing to either retain or gain space and dominance in the global market.
Emerging industry players are attempting to enter the sterile active pharmaceutical ingredients market with distinct and innovative products. Moreover, product approvals by drug regulators & authorities and competition among manufacturers for product launches are driving market growth.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global sterile active pharmaceutical ingredients market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (monoclonal antibodies, immunoglobulin, cytokines, insulin, peptide hormones, blood factors, peptide antibiotics, vaccines, small molecule antibiotics, highly potent active pharmaceutical ingredients (HPAPI), others) and form (aqueous, non-aqueous liquid, dry powder), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
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