New York, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global oncology active pharmaceutical ingredient (API) Market size is expected to expand at ~ 7% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 7 Billion by the end of 2035, up from a revenue of ~USD 2 Billion in the year 2022. The growth of the market can be attributed to the rising concern about the growing incidences caused by cancer worldwide. The World Health Organization (WHO) report stated that in 2020, almost 10 million deaths were caused by cancer.
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Furthermore, as oncology APIs are substances that are found in anti-cancer drugs, their efficacy and performance on the targeted cancerous cells, as well as the rising exploration to develop genomics and proteomics-related technologies that can contribute to improving global health equity, are expected to elevate the oncology active pharmaceutical ingredient (API) Market over the forecast period.
Global Oncology Active Pharmaceutical Ingredient (API) Market: Key Takeaways
- Market in North America to propel the highest growth
- Breast segment to garner the highest growth
- Market in Europe to grow at the highest rate
Cancer Cases on the Rise to Drive Market Growth
The growth of the market can be primarily attributed to the globally rising focus on human health as well as the increasing development of innovative therapeutics for cancer and rare diseases, and the millions with long-term chronic conditions are expected to boost the market growth. As per an estimate, there were ~4 million new cases of cancer and around 1.9 million cancer-related deaths in Europe in 2021 (excluding non-melanoma skin cancer). Breast cancer in women (530,000 cases), colorectal (520,000), lung (480,000), and prostate (470,000) accounted for nearly 50% of the overall cancer burden in Europe. Moreover, lung (380,000), colorectal (250,000), breast (140,000), and pancreatic (130,000) cancers were the most common causes of cancer deaths. As a result, scientific innovation is being rapidly translated into healthcare solutions around the world, which is expected to boost global market growth.
Global Oncology Active Pharmaceutical Ingredient (API) Market: Regional Overview
The global oncology API market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Burgeoning Geriatric Population to Drive Growth in the North America Region
The oncology active pharmaceutical ingredient (API) Market in the North American region is estimated to garner the largest revenue by the end of 2035. The growth of the market in the region over the forecast period is attributed to the pool of the geriatric population as well as the persistently increasing healthcare costs in the U.S. together with the growing prevalence of tobacco and cigarette consumption, besides the augmenting concern about the rapid spread of cancer in the region. The World Bank stated that the number of geriatrics in the USA reached 56,545,938 in 2021. Moreover, in 2019, nearly 1,752,000 new cases of cancer were diagnosed in the U.S., whereas about 599,500 people lost their lives. Additionally, the developing biopharmaceutical industry, which is a major component of the U.S. innovation-driven industrial and healthcare bases, as well as its strong leadership position in private-sector R&D, is further expected to boost the growth of the regional market over the forecast period.
Increased Cancer Burden to Drive Growth in Europe Region
The oncology active pharmaceutical ingredient (API) Market in Europe is estimated to garner the highest CAGR by the end of 2035. The rapidly rising cancer burden, as well as the growing concern about chronic diseases and the increasing research & development (R&D) pipeline to drive a change to defeat diabetes, coronary arterial disease, and other serious chronic conditions, is expected to boost market growth in the region in the projected period. As per research, ~35% of the European Union population aged 16 years and older reported having a long-standing illness or health problem. Furthermore, spending on novel and innovative treatments, as well as increased investment in expanding clinical API capacity in the region, are expected to drive regional market growth over the course of the project. For instance, Novo Nordisk A/S invested approximately USD 749 million to escalate its API manufacturing needed to support its clinical trials.
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Global Oncology Active Pharmaceutical Ingredient (API) Market, Segmentation by Type of Cancer
- Breast
- Cervical
- Lung
- Liver
- Colorectal
- Others
The breast segment is anticipated to hold the largest revenue by the end of 2035. The increasing ubiquity of breast cancer worldwide, where invasive ductal carcinoma contributes to ~80% of all breast cancer cases, as well as the uptrend of gynecological cancer, which includes endometrial, cervical, ovarian, uterine, vaginal, vulvar, and fallopian tube cancer in women, is expected to boost the segment growth in the upcoming years. The World Health Organization revealed that globally, some 2.26 million cases of breast cancer were diagnosed in 2020. Moreover, although breast cancer occurs in both men and women, it's far more common in women, whose share in the global population comprised around 49.7% of the total global population in 2022, which is also a major reason for the segment growth.
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Global Oncology Active Pharmaceutical Ingredient (API), Segmentation by APIs
- Innovative Oncology APIs
- Generic Oncology APIs
The generic oncology APIs segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the increasing spending on biotechnology worldwide as well as the growing development in biopharmaceuticals owing to their extensive pharmacological and pharmacokinetic applications together with the increasing importance of generics to reduce global health inequalities by providing low- and middle-income countries with efficient, cost-effective, and robust means of preventing, diagnosing, and treating some major diseases such as cancer. It was discovered that the biopharmaceutical industry in the United States invested approximately USD 102 billion in R&D in 2018.
Global Oncology Active Pharmaceutical Ingredient (API), Segmentation by Manufacturing Type
- Captive
- Merchant
A few of the well-known market leaders in the global oncology API market that are profiled by Research Nester are Sanofi, AbbVie Inc., Merck & Co. Inc., Pfizer Inc., Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., GSK plc, Teva Pharmaceutical Industries Ltd., Eli Lilli, and Company, and other key market players.
Recent Development in the Global Oncology Active Pharmaceutical Ingredient (API) Market
- AbbVie Inc., a biopharmaceutical company collaborated with Anima Biotech (Anima) which is advancing mRNA Lightning, to discover and develop mRNA biology modulators for three targets across Oncology and Immunology.
- Sanofi a global biopharmaceutical company Sanofi plans to create a major leading European company that will be dedicated to the production and marketing of active pharmaceutical ingredients (API) to third parties as it is the essential molecule responsible for the beneficial effects used in the composition of any drug.
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