Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Global Active Pharmaceutical Ingredients Market Report by Drug Type, Synthesis, Type of Manufacturer, Application, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Active Pharmaceutical Ingredients Market is envisioned at US$ 212.12 billion in 2023 and is anticipated to attain US$ 377.05 billion via 2032, growing at a CAGR of % from 2024 to 2032.
The active pharmaceutical ingredient (API) is the most crucial biologically active thing in pharmaceutical products, contributing to their healing consequences. APIs, produced via chemical synthesis or derived from herbal resources, maintain an essential function within the global pharmaceutical supply chain, forming the basis for drug improvement and manufacturing. The demand for classy APIs is predicted to rise because the pharmaceutical industry progresses towards superior therapeutics and progressive delivery systems.
Various factors, consisting of the expansion of capacities in the pharmaceutical and biopharmaceutical sectors, the growing dependence on generics and medical knowledge, improvements in the API manufacturing era, and the growing age of the worldwide population, affect the market for APIs. The growing incidence of chronic disease like cardiovascular conditions and most cancers similarly boosts the market's boom.
The rising burden of chronic illnesses is increasing the need for effective tablets. The American Cancer Society predicts around 2,001,140 new cancer instances in the United States in 2024.
India and China have emerged as unrivaled giants in the API market
India and China are main key players in the API production industry due to their cost-effective capabilities. Their lower manufacturing costs, lenient environmental regulations, and cost-effective labor make them attractive alternatives to the United States. Additionally, they have robust testing capabilities, research opportunities, and favorable regulatory audits, giving them a competitive edge in developing markets. This creates opportunities for the industry to enhance efficiency and productivity by scaling up production in these markets.
Numbers of Chronic Diseases worldwide
- According to the US Department of Health and Human Services, an estimated 129 million people in the US had at least one major chronic disease in February 2024.
- According to a July 2023 analysis, the prevalence of 19 out of 20 health conditions in England is expected to increase by 2040, including a 30% increase in the number of people with cancer, diabetes, and kidney disease. This means that the number of people with major diseases is expected to increase from almost 1 in 6 adults in 2019 to nearly 1 in 5 by 2040.
- According to the Antidiskriminierungsstelle, approximately one in six individuals in Germany live with a chronic illness or severe disability.
- About 38% of French adults reported having at least one chronic condition in 2019, slightly higher than the EU average.
- In 2030, around 7 million people in the Netherlands will be living with chronic disease due to population aging.
- In November 2022, a study found that 81.1% of older adults in China - 179.9 million - have chronic diseases. The prevalence increases with age, peaking at 87.2% in people aged 80-84.
- According to a 2023 study, over 90% of Japanese adults aged 75 or older have at least one chronic disease, and about 80% of them have multiple chronic diseases.
- According to a NITI Aayog report from February 2024, 75% of India's elderly population suffers from one or more chronic diseases.
Active Pharmaceutical Ingredients (API) Industry News
- In December 2023, Novo Nordisk announced plans to build a new active pharmaceutical ingredients facility in Kalundborg, Denmark, to expand its manufacturing capacity.
- In October 2023, IQuest Enterprises signed a binding contract to acquire Viatris's Indian active pharmaceutical ingredients (API) business.
- In October 2023, Clariant expanded its pharmaceutical ingredient solutions portfolio to include three new VitiPure excipients designed to facilitate the development of safe and efficient medications, including sensitive formulations like mRNA vaccines and biologic medications.
- In September 2023 - Glenmark Pharmaceuticals and Nirma Limited entered into a share purchase agreement for Glenmark Lifesciences.
- In July 2023 - Teva is considering selling a $2 billion unit of active ingredients.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 235 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $212.12 Billion |
| Forecasted Market Value (USD) by 2032 | $377.05 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenue
- Pfizer, Inc.
- Novartis International AG
- Sanofi
- Boehringer Ingelheim
- Bristol-Myers Squibb
- Teva Pharmaceutical Industries Ltd.
- ELI Lilly and Company
- GlaxoSmithKline
- Merck & Co., Inc.
- Abbvie Inc.
Drug Type - Market is broken up into 2 viewpoints
- Innovative
- Generic
Synthesis - Market is broken up into 2 viewpoints
- Synthetic
- Biotech
Type of Manufacturer - Market is broken up into 2 viewpoints
- Captive
- Merchant
Application - Market is broken up into 11 viewpoints
- Cardiovascular Diseases
- Oncology
- Central Nervous System and Neurology
- Orthopedic
- Endocrinology
- Pulmonology
- Gastroenterology
- Nephrology
- Ophthalmology
- Other Applications
Countries - Market of 25 Countries Covered
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/91ci1n
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