Pune, March 14, 2023 (GLOBE NEWSWIRE) -- SNS Insider predicts that the Active Pharmaceutical Ingredient Market will attain a value of USD 347.92 billion by 2030, having been valued at USD 211.81 billion in 2022, and will expand at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030.
Market Overview:
An Active Pharmaceutical Ingredient (API) is the main component of a medication that produces its intended therapeutic effect. It is the biologically active substance that is responsible for treating the medical condition for which the medication is prescribed. APIs are critical components of the drug manufacturing process, as they determine the safety and effectiveness of the medication.
Market Analysis:
The global active pharmaceutical ingredients market is expected to experience significant growth in the coming years due to the rising demand for pharmaceutical drugs. Many market players are actively looking to expand their production capabilities in Asian countries to cater to the growing demand for APIs. These companies are investing in new technologies and manufacturing processes to improve their efficiency and productivity, allowing them to produce larger quantities of high-quality APIs at a lower cost. Additionally, regulatory bodies such as the FDA and EMA set strict guidelines for the production and use of APIs, further ensuring the safety and quality of pharmaceutical products.
Key Company Profiles Listed in this Report Are:
- Aurobindo Pharma
- Bristol Myers Squibb
- Eli Lilly and Company
- BASF SE
- Cipla
- Abbvie Inc.
- Boehringer Ingelheim GmbH
- Dr. Reddy’s Laboratories Ltd
- Albemarle Corporation
- Viatris Inc
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Impact of Recession on Active Pharmaceutical Ingredient Market Growth
During a recession, the demand for pharmaceuticals may decline as consumers prioritize spending on essential goods and services. This can lead to a decrease in the demand for APIs, which in turn can affect the revenue of API manufacturers. It is important for governments and the industry to work together to ensure the continued availability and affordability of essential medications during times of economic uncertainty.
Key Regional Developments
The North American region has emerged as a dominant player in the global active pharmaceutical ingredient market, accounting for the largest revenue share. The region's favorable regulatory environment, coupled with the presence of major market players and advanced healthcare infrastructure, has further accelerated the growth of the API market in North America. These factors have enabled the region to maintain its lead over the forecast period and continue to dominate the global API market.
Active Pharmaceutical Ingredient Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 211.81 Bn |
| Market Size by 2030 | US$ 347.92 Bn |
| CAGR | CAGR of 6.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments | • By Type (Innovative APIs, Generic APIS) • By Type of Synthesis (Synthetic, Biotech) • By Application (Communicable Diseases, Oncology, Diabetes, Cardiovascular Disease, Pain management, respiratory diseases) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Takeaway from Active Pharmaceutical Ingredient Market Study
- The market has been witnessing significant growth in recent years, with the cardiovascular diseases segment accounting for the largest revenue share. The increasing prevalence of cardiovascular diseases worldwide has been identified as a major factor driving the growth of this segment.
- The active pharmaceutical ingredient market is dominated by the synthetic API segment, which is primarily due to the abundance of raw materials and the relatively simpler procedures involved in synthesizing these molecules. Synthetic APIs are increasingly preferred over other types of APIs due to their high purity, consistent quality, and better scalability.
Recent Developments Related to Active Pharmaceutical Ingredient Market
- Cingulate Therapeutics and Indegene have joined forces in a new commercialization agreement to bring CTx-1301 to market. CTx-1301 is a medication designed to treat attention-deficit/hyperactivity disorder (ADHD) in adults. CTx-1301 is a novel, extended-release formulation of dextroamphetamine, a well-established ADHD medication. The drug has been designed to provide a smoother, more consistent effect over a longer period than existing formulations.
- Cytovance Biologics, a leading CDMO, has partnered with Phenotypeca, a cutting-edge biotech company, to collaborate on biopharmaceutical manufacturing. The partnership between the two companies aims to leverage their respective strengths in order to enhance their capabilities in the development and manufacture of biologics. The partnership will enable the companies to provide end-to-end solutions for their customers, from initial cell line development to cGMP manufacturing and commercialization.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Global Active Pharmaceutical Ingredient Market Segmentation, By Type
9. Global Active Pharmaceutical Ingredient Market Segmentation, By Application
10. Global Active Pharmaceutical Ingredient Market Segmentation, By Type of Synthesis
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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