Active Pharmaceutical Ingredients Market Size to Hit USD 355.94 Bn by 2030

Ottawa, Jan. 10, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global active pharmaceutical ingredient market size was valued at USD 191.19 billion in 2021. The active pharmaceutical ingredients market growth is driven by an increase in the number of chronic diseases, an increase in the number of geriatric populations around the world. The increased utilization of biopharmaceuticals and rising investments in research and development for drug manufacturing are all contributing to the growth of the global active pharmaceutical ingredients (API) market.

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The high production costs and different drug control policies between countries, on the other hand, are projected to hinder the growth of the active pharmaceutical ingredients (API) market. The expansion of active pharmaceutical ingredients (API) market is likely to be aided by an increase in the manufacture of biosimilars, which are generic versions of proprietary medications. The growing importance of generics in the global active pharmaceutical ingredients (API) market is expected to boost the market’s expansion during the forecast period.

Regional Snapshot

Asia-Pacific is the largest segment for active pharmaceutical ingredients (API) market in terms of region.The presence of developing countries such as India and China, which the world relies on for low-cost active pharmaceutical ingredients (API) production, is a benefit for the region. The active pharmaceutical ingredients (API) market is expected to develop due to rising healthcare expenditure in the region.

Report Scope of the Active Pharmaceutical Ingredients Market

North America region is the fastest growing region in the active pharmaceutical ingredients (API) market. This is can be attributed to the rising prevalence and incidence of cancer and other lifestyle related diseases, which encourages research and development and thus boosts the active pharmaceutical ingredients (API) market growth.

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Market Dynamics

Drivers

Surge in the use of biosimilar products

The rising frequency of various disorders, the increased demand for biosimilars in diverse therapeutic applications, and the favorable results in ongoing biosimilar clinical trials are all important factors driving the growth of the biosimilars market. Biosimilars are generic versions of copyrighted biologic medications that do not meet the same severe regulatory criteria as branded biologic medicines. Thus, the patents and other intellectual property rights for originator biologics are likely to expire, allowing biosimilars to join the market. As a result, the surge in the use of biosimilar products is propelling the growth of the active pharmaceutical ingredients (API) market during the forecast period.

Restraints

Stringent government regulations

The growth of active pharmaceutical ingredients (API) market players is projected to be limited by strict supervisory techniques and aggressive medication price control strategies implemented in some nations. The active pharmaceutical ingredients (API) market’s growth is expected to be slowed by a shift to digital production and patents for popular pharmaceuticals. Thus, the stringent government regulatory framework is restricting the growth of the active pharmaceutical ingredients (API) market during the forecast period.

Opportunities

Rising prevalence of chronic disorders

The chronic diseases such as asthma, diabetes, coronary artery diseases, cancer, arthritis, and hepatitis have increased dramatically in key locations around the world over the previous few decades. This is due to an increase in the global elderly population, changing lifestyles, and nutritional changes as a result of rapid urbanization. As a result, the rising prevalence of chronic disorders is creating new growth opportunities for the growth of the active pharmaceutical ingredients (API) market during the forecast period.

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Challenges

High manufacturing costs

One of the major challenges that active pharmaceutical ingredients (API) market players face is the high cost of manufacturing active pharmaceutical ingredients (API). To ensure compliance with government standards, manufacturers frequently have to make costly investments in their manufacturing units. This includes processes such as renovation of production facilities, compiling a portfolio of product safety and efficacy testing, and familiarizing employees with qualification standards. Furthermore, the costs of acquiring regulatory clearances are more expensive for small businesses. Thus, the high manufacturing costs is a major challenge for the growth of the active pharmaceutical ingredients (API) market during the forecast period.

Report Highlights

• In 2020, the captive active pharmaceutical ingredients (API) category accounted for the highest market share. The quick and easy availability of raw materials and large investments by key market players to construct high end manufacturing facilities are expected to propel it forward to a rapid pace in the future years.
  
  
• In 2020, innovative active pharmaceutical ingredients (API) had the biggest market share. The increased research and development initiatives for novel drug development, as well as favorable government laws, are credited with this surge.
  
  
• In 2020, the synthetic active pharmaceutical ingredients (API) category had the revenue share. This is due to the increased availability of raw materials and the ease with which these molecules may be synthesized.
  
  

Market Segmentation

By Type of Manufacturer

• Merchant APIs
• Captive APIs

By Type

• Generic APIs
• Innovative APIs

By Type of Synthesis

• Biotech
  • Recombinant Proteins
  • Monoclonal Antibodies
  • Vaccines
• Synthetic
  
  

By Application

• Orthopedic
• Pulmonology
• Gastroenterology
• Endocrinology
• Cardiology
• Oncology
• CNS & Neurology
• Nephrology
• Ophthalmology
• Others

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  
  

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