Visiongain has published a new report: Active Pharmaceutical Ingredients (APIs) Market Report 2023-2033: Forecasts by Therapeutic Application (Oncology, Anti-diabetics, Pulmonology, Immuno-suppressants, Neurology, Cardiology, Orthopaedic, Others), by Synthesis Type (Synthetic, Biotech), by Manufacturer (Merchant API, Captive API), by Drug Type (Branded, Generic) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The Active Pharmaceutical Ingredients market is valued at US$235.7 billion in 2022 and is projected to grow at a CAGR of 6.7% during the forecast period 2023-2033.
Focus on Quality and Safety of Active Pharmaceutical Ingredient to Drive Market Growth
Ensuring high standards of quality and safety is essential to the pharmaceutical industry's credibility, patient safety, and regulatory compliance. Pharmaceutical companies that prioritize quality and safety of APIs build a strong reputation and brand image. This enhances their market position and fosters trust among healthcare professionals and patients. Focusing on improved quality and safety drives innovation in API manufacturing processes and research.
Firms allocate resources towards adopting novel technologies and analytical methods to improve the quality of their products and adhere to regulatory requirements. The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have established Good Manufacturing Practices (GMP) to guarantee the safety and quality of Active Pharmaceutical Ingredients (APIs). Adherence to these guidelines is crucial for API manufacturers to uphold the credibility and excellence of their products.
This dedication to continuous improvement helps ensure the consistent quality and safety of APIs. As the global demand for medications continues to rise, the API market is expected to see continued growth in the coming years.
Download Exclusive Sample of Report
https://www.visiongain.com/report/apis-market-2023/#download_sampe_div
How has COVID-19 had a Significant Impact on the Active Pharmaceutical Ingredients Market?
The active pharmaceutical ingredient (API) market has witnessed decent growth that was driven by rising prevalence of chronic diseases, increasing demand for generic drugs, and the development of biologics and specialty drugs. However, COVID-19 pandemic has likely had significant impact on the API market. During the pandemic, there was a surge in demand for certain medications used in COVID-19 treatment, such as antiviral drugs, corticosteroids, and antibiotics to manage secondary infections. This increased demand put significant pressure on API manufacturers to ramp up production and supply these critical drugs promptly. The pandemic disrupted global supply chains, including those for APIs. Many countries implemented travel restrictions, lockdowns, and border closures, leading to logistics challenges and delays in the transportation of raw materials and finished APIs. This disruption affected the availability of certain medications in various regions. In response to the pandemic's urgency, some regulatory authorities implemented expedited approval processes for COVID-19 treatments and vaccines. This flexibility aimed to speed up the availability of essential medications and positively impacted API manufacturers' production and quality control processes. The pandemic's economic repercussions have influenced pharmaceutical companies' investment decisions, including the development of new drugs or collaborations with API manufacturers. The API market will continue to adapt to changing healthcare needs and regulatory landscapes. Monitoring and managing the supply chain resilience, maintaining high-quality standards, and fostering collaboration between stakeholders remain crucial to the pharmaceutical industry's ability to respond to future challenges and opportunities.
How will this Report Benefit you?
Visiongain’s 267-page report provides 98 tables and 167 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Active Pharmaceutical Ingredients market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Active Pharmaceutical Ingredients. Get financial analysis of the overall market and different segments including Application, drug type, synthesis type and manufacturer type and capture higher market share. We believe that there are strong opportunities in this fast-growing Active Pharmaceutical Ingredients market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Advancements in the Field of Medical Research
The emergence of biopharmaceuticals and biologics represents a significant advancement in medical research. These complex molecules, often derived from living organisms, require specific APIs for their production. Medical research led the development of advanced drug delivery systems, such as nanotechnology-based delivery or targeted drug delivery. APIs are crucial components in creating these specialized drug formulations. Ongoing medical research drives the discovery and development of new vaccines to prevent infectious diseases and protect public health. APIs are integral to vaccine production. Emergence of regenerative medicines such as stem cell therapies would create a demand for APIs over the upcoming years. Advancements in medical research constantly push the boundaries of drug discovery and development, leading to new, innovative, and more effective treatments. APIs are essential components in bringing these medical breakthroughs to patients, driving their demand in the pharmaceutical industry. As research continues to evolve, the demand for APIs is expected to remain strong to support the production of a wide range of medications.
Growing Adoption of Combination Therapies
Combination therapies involve the use of two or more drugs with different mechanisms of action to treat a specific disease or medical condition. Active pharmaceutical ingredients (APIs) play a crucial role in combination therapies, as they are the active components responsible for the therapeutic effects of each drug. APIs from different drugs work together to achieve synergistic effects. Each API targets specific aspects of the disease or different pathways, resulting in enhanced therapeutic outcomes compared to using each drug alone. Some diseases or conditions may not respond well to single-drug treatment. By combining APIs with complementary mechanisms of action, combination therapies can improve treatment efficacy and provide better patient outcomes. APIs are selected based on the patient's unique requirements. APIs are the foundation of combination therapies, enabling the development of more effective, innovative, and personalized treatment approaches. As medical research continues to advance, the use of combination therapies is likely to increase, leading to a continued demand for APIs in the pharmaceutical industry.
Get Detailed ToC
https://www.visiongain.com/report/apis-market-2023/
Where are the Market Opportunities?
Shifting Trend Towards Contract Manufacturing and Outsourcing
Most pharmaceutical companies outsource their manufacturing processes, including API production, to contract manufacturing organizations (CMOs) to reduce the overall drug development cost and focus on core competencies. This has led to increased opportunities for API manufacturers to collaborate with pharmaceutical companies. Contract manufacturers often specialize in particular therapeutic areas or manufacturing processes. Pharmaceutical companies can benefit from the specialized expertise of these CMOs, especially when it comes to producing complex APIs or biopharmaceuticals. Contract manufacturers are experienced in navigating regulatory requirements and quality standards. By entering into strategic collaborations with a CMO, pharmaceutical companies can ensure that the APIs and drug products are manufactured in compliance with regulatory guidelines, which is crucial for obtaining marketing approvals. Outsourcing API production to a CMO can accelerate the time to market for new drugs. CMOs are equipped with established infrastructure and streamlined processes, allowing them to efficiently produce APIs and drug products.
Green Chemistry and Sustainability
Green Chemistry principles aim to minimize or eliminate the use of hazardous substances, reduce waste, and design processes that are more environmentally friendly. API manufacturers are adopting greener processes to reduce their carbon footprint and environmental impact. Sustainable API manufacturers invest in energy-efficient technologies and practices to reduce energy consumption during production. Lower energy use leads to reduced greenhouse gas emissions and environmental impact. Green Chemistry encourages the use of renewable feedstocks, such as bio-based raw materials, in API synthesis. This approach reduces dependence on fossil fuels and contributes to a more sustainable supply chain. The demand for green and sustainable APIs is increasing among environmentally-conscious consumers and healthcare providers. API manufacturers that can offer green alternatives have a competitive advantage in the market. Emphasizing sustainability aligns with corporate social responsibility goals and enhances the overall reputation of API manufacturers. It also helps attract socially responsible investors and stakeholders. integrating Green Chemistry and sustainability practices in the API market benefits both the environment and the pharmaceutical industry. As the awareness of environmental issues continues to grow, API manufacturers will likely face increasing pressure to adopt sustainable practices, making it a critical aspect of the future of API production.
Competitive Landscape
The major players operating in the active pharmaceutical ingredients market are Aarti Drugs Ltd., Aurobindo Pharma, Biocon, Cipla Inc., Divi's Laboratories Limited, Dr. Reddy’s Laboratories Ltd., EUROAPI, HIKAL Ltd., Merck & Co., Inc., and Teva Pharmaceutical Industries Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- On 23rd June 2023, Dr. Reddy’s launched a dedicated division ‘RGenX’ for expanding its generic business in India. With this launch the company is aiming to expand its drug access to patients by providing it at affordable cost.
- On 29th November 2022, Biocon Biologics Ltd., a subsidiary of Biocon Ltd. completed the acquisition of the global biosimilars business of its partner Viatris Inc. Biocon Biologics and Viatris have obtained all applicable approvals from key global regulators including the U.S. Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors. This strategic deal will help company expand its business revenue and accelerate the advances in production technologies.
To access the data contained in this document please email contactus@visiongain.com
Avoid missing out by staying informed – order our report now.
To find more Visiongain research reports in the Pharma sector, click on the following links:
- Synthetic Biology Market Report 2022-2032
- Biological Drug API Manufacturing Services Market Report 2021-2031
Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: contactus@visiongain.com
About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
Contact
Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: contactus@visiongain.com
Web: www.visiongain.com
