Pune, India, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global active pharmaceutical ingredient market size was USD 159.35 billion in 2020. The market is projected to grow from USD 174.17 billion in 2021 to USD 272.44 billion in 2028 at a CAGR of 6.6% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Active Pharmaceutical Ingredient Market, 2021-2028.”
According to our expert analysts, the increasing prevalence of chronic diseases and the rising demand for modified medicine, coupled with the advent of novel drug delivery devices are few of the aspects estimated to play a crucial role in improving the active pharmaceutical ingredients market growth during the mentioned timeframe.
Industry Development
March 2021 – Amgen confirmed the acquisition of Rodeo Therapeutics, a biopharmaceutical firm that focuses on developing small molecule therapies. The acquisition will enable Amgen to expand its inflammation APIs portfolio.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.6% |
| 2028 Value Projection | USD 272.44 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 174.17 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 138 |
| Segments covered | Types, synthesis and Geography |
| Growth Drivers | Price Fluctuations in Emerging Nations to Restrict Market Growth |
| Generic API Segment to Exhibit Strong CAGR during 2021-2028 | |
| Growing Prevalence of Chronic Disease to Fuel API Demand |
Drivers and Restraints
Strong Demand for Pharmaceutical Drugs to Kindle Market Growth
The prevalence of various chronic diseases is on the rise owing to the upsurge in geriatric population and inactive lifestyles. This is generating an ever growing demand for therapeutic drugs in this market. As per the Indian Brand Equity Foundation’s (IBEF) examination in June 2021, the Indian pharmaceutical sector was responsible for over 50% of the global demand for numerous vaccines, 40% of U.S. generic brand’s demand as well as U.K’s 25% of all medications demand. The aforementioned factors will bolster the active pharmaceutical ingredient market growth.
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COVID-19 Impact
Supply Chain Uncertainty amid COVID-19 to have Adverse Effects on Global Market
The influence of COVID-19 on this market has been adverse owing to the closure of a number of industrial units in China owing to the COVID-19. Moreover, the deficiency of raw materials have also resulted in the termination of workshops in China.
Also, the decline in demand for pharmaceuticals for definite elective procedures have also resulted in the deterioration of the growth of the market in 2020. Pooled together, these aspects directed to an undesirable effect on the global market.
Regional Insights
North America to Proliferate Led by Increasing Pharmaceutical R&D
North America was worth USD 76.77 billion in 2020 and the region is anticipated to be responsible for holding the highest active pharmaceutical ingredient market share of the global market during the predicted period.
The European region is estimated to perceive an optimistic growth during the forecast period owing to the upsurge in resources for research programs along with existence of major market players in this region.
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List of Key Players Covered in the Market Report
- Teva Pharmaceutical Industries Ltd (Petah Tikva, Israel)
- AbbVie Inc. (North Chicago, U.S.)
- Abbott (Abbott Park, U.S.)
- Aurobindo Pharma (Hyderabad, India)
- Cipla Inc. (Mumbai, India)
- Dr. Reddy’s Laboratories Ltd (Hyderabad, India)
- Sun Pharmaceutical Industries Ltd (Mumbai, India)
- Amgen Inc. (Thousand Oaks, U.S.)
- Biocon (Bengaluru, India)
- Mylan N.V. (Canonsburg, U.S.)
- Boehringer Ingelheim International GmbH (Ingelheim am Rhein, Germany)
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Chronic Diseases -2018
- New Product Launches by Key Players
- Recent Industry Developments- Partnerships, Mergers, And Acquisitions
- Therapeutic Applications of the Different Types of Active Pharmaceutical Ingredient
- Global Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Generic API
- Branded API
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America Industry Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Generic API
- Branded API
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
Continued...
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