Active Pharmaceutical Ingredient (API) Market to Reach USD 251.3 Billion by 2028 - Powered by Rising Energy Demand | Vantage Market Research

WASHINGTON, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the global active pharmaceutical ingredient (API) market finds that increasing incidence of chronic diseases is expediting market growth. Primarily driven by growing importance of generics, the total Global Active Pharmaceutical Ingredient (API) Market is estimated to reach USD 251.3 billion by 2028, up from USD 182.5 billion in 2020, at a compound annual growth rate (CAGR) of 6.20%.

Furthermore, the growing adoption of AI-based tools for drug discovery is also anticipated to augment the growth of the Global Active Pharmaceutical Ingredient (API) Market, states Vantage Market Research, in a report, titled “Active Pharmaceutical Ingredient (API) Market by Synthesis Type (Biotech, and Synthetic), by Type of Manufacturer (Captive APIs, and Merchant APIs), by Type (Generic APIs, and Innovative APIs), by Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopaedic, and Others), and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).”

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Active Pharmaceutical Ingredient (API) market is predicted to grow at a CAGR of roughly 6.30% during the forecast period.
• The Active Pharmaceutical Ingredient (API) market was estimated to be worth roughly USD 189.51 Billion in 2021 and is expected to reach USD 308.96 Billion by 2028; based on primary research.
• On the basis of region, North America is projected to dominate the worldwide Active Pharmaceutical Ingredient (API) market.     
  

Market Dynamics:

Growing Adoption of AI-based Tools for Drug Discovery to Fuel Global Active Pharmaceutical Ingredient (API) Market

The implementation of AI in the development of a medicinal and pharmaceutical product has aided in rational drug design. AI is used in target discovery and early drug discovery to analyze data sets, form hypotheses and generate novel insights, identify novel drug candidates, analyze data from patient samples in both healthy and diseased states to generate novel biomarkers and therapeutic targets and to predict binding affinity and other pharmacological properties of molecules, among others. Furthermore, AI can also be used in repurposing of existing drugs for rapidly identifying new indications for many known drugs, match existing drugs with rare diseases, conduct experimental biology at scale by testing 1000+ of compounds on 100+ of cellular disease models in parallel and generate novel biomarkers and therapeutic targets. Additionally, it can be also optimizing clinical trial study design. Owing to the increasing applications of AI in pharmaceutical industry the active pharmaceutical ingredient (API) market is expected to grow in near future.

Increasing Incidence of Chronic Diseases to Stimulate the Market Growth

According to WHO, noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 71% of all deaths globally and more than 15 million people die from a NCD between the ages of 30 and 69 years; 85% of these "premature" deaths occur in low- and middle-income countries. Furthermore, cardiovascular diseases account for most NCD deaths or 17.9 million people annually, followed by cancers (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). As the occurrences of these diseases are increasing the demand for more precise and effective drugs are also increasing. Additionally, percentage of various other diseases has also shown substantial increase which is further expected to support the growth of the API market in the years to come.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

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The report on Active Pharmaceutical Ingredient (API) Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

North America Dominates the Global Active Pharmaceutical Ingredient (API) Market

North America projected to hold largest share in the active pharmaceutical ingredient (API) market during the forecast period. This is attributable to the increase in occurrences of chronic diseases and rising demand for specialty drugs in the region. Additionally, the growing importance of generics and Investments in real-world evidence by pharmaceutical companies is also expected to support the growth of the active pharmaceutical ingredient (API) market in near future.

Europe has projected to grow at a significant CAGR in 2020 for the global active pharmaceutical ingredient (API) market and is likely to continue the same trend during the forecast period. This is attributable to the increase in investments in research and development activities and the presence of local key market players in the region. Furthermore, the increase in biopharmaceutical companies is also expected to support the regional growth of the market.

Browse market data Tables and Figures spread through Pages and in-depth TOC on "Active Pharmaceutical Ingredients Market by Business Mode (Captive API, Merchant API), by Synthesis Type (Synthetic, Biotech), by Type Of Drug (Generic, Branded), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

List of Prominent Players in the Active Pharmaceutical Ingredient (API) Market:

Recent Developments:

November, 2019: AstraZeneca announced three large-scale initiatives to build on the Company’s long-standing commitment to China and advance global research and development (R&D) for innovative new medicines. The new AI Innovation Centre, will be established to capitalise on the latest digital technology in R&D, manufacturing, operations and commercialisation in order to accelerate the delivery of medicines to patients in China and globally.

December, 2021: Pfizer Inc. announced to acquire Arena Pharmaceuticals, Inc. The acquisition of Arena was done in order to complements their capabilities and expertise in Inflammation and Immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Active Pharmaceutical Ingredient (API) Market?
• How will the Active Pharmaceutical Ingredient (API) Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Active Pharmaceutical Ingredient (API) Market?
• What is the Active Pharmaceutical Ingredient (API) market drivers and restrictions?
• What will be the CAGR and size of the Active Pharmaceutical Ingredient (API) Market throughout the forecast period?      

This market titled “Active Pharmaceutical Ingredient (API) Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

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