Active Pharmaceutical Ingredients Market to Reach US$ 355.94 Bn by 2030

Precedence Research Predicts, the global active pharmaceutical ingredient market size is predicted to reach around US$ 355.94 by 2030 from USD 191.19 billion in 2021, growing at a CAGR of 7.1% from 2021 to 2030.

Growth Factors

More than few decades, the incidence of chronic diseases such as coronary artery disease, diabetes, chronic obstructive pulmonary disease (COPD), hepatitis, asthma, arthritis, and cancer has surged significantly in most of the growing regions around the world. This can be owing to the rising elderly population as by 2050, more than 20% of the worldwide population is likely to be aged over 60 years. Furthermore, changing lifestyles, and dietary changes due to rapid urbanization are the further reasons for the growth of chronic diseases. In addition, as per the data of International Diabetes Federation, in the year 2019, around 463 million people around the globe were identified with diabetes. Also, the number of new cancer cases every year is likely to grow by 23.6 million by 2030. Apart from cancernumerous other diseases are prevailing to grow at a growing rate.

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Future of Active pharmaceutical ingredients Market

The growing incidence of numerous diseases, positive outcomes in ongoing clinical trials for pharmaceuticals ingredients, the rising biologicdrugs number of off-patent, and the rising demand for pharmaceuticals ingredients in numerous therapeutic applications (like blood disorders and rheumatoid arthritis) are the key factors propelling the growth of the market. Furthermore, these ingredients are patented biologic drug’s generic versions hence, they does not require to submit the strict requirements of numerous authorities. The expiration of intellectual property and patents rights for instigator biologics over the next ten years is likely to open up robust growth opportunities for pharmaceuticals ingredients market.

Report Highlights:

• On the basis of type, innovative APIs holds the dominating market share of 60% in 2020. The market growth of this segment is owing to favorable government regulations and increasing R&D initiatives for novel drug development. Due to extensive research in this field, many modern products are in the process and are likely to be launched during the forecast period. New players entering in this segment are likely to propel the market.
• On the basis of application, cardiovascular diseases segment holds the maximum market share of more than 20% in the year 2020. This is owing to the increasing prevalence of target diseases worldwide. Numerous organizations such as the World Stroke Organization, the World Heart Federation, and the Stroke Association are working toward raising awareness regarding cardiovascular diseases. In addition, government initiatives like the National Cholesterol Education Program are intended at improving general awareness regarding cholesterol-related and lipid diseases. Increasing awareness and high prevalence regarding cardiovascular diseases are likely to drive the segment during the forecast period, thus propelling demand for APIs for cardiology drugs.
• On the basis of type of synthesis, the synthetic API segment held the dominating market segment of more than 70% in the year 2020. Easier protocols for the synthesis of these molecules and higher availability of raw materials are the key factor propelling the segmental demand. Furthermore, numerous synthetic molecules are further likely to go off-patent in the upcoming years, which is likely to boost the market growth.
• On the basis of region,North America dominated the market with the market share of more than35% in the year 2020 and is likely to maintain its dominance during the forecast period. This is growth is attributed to the upsurge in epidemiology of cancer, along with other lifestyle developed diseases, thereforereassuring the R&D activities, thereby boosting the market growth.
• Asia Pacific is anticipated to exhibit to be the fastest growing CAGR during the forecast period. The existence of economies such as India and China over which the world relies on for the production of APIs at a cheaper cost is abenefit for the region. In addition, increasing healthcare expenditure in the region is anticipated to further propel the market growth.

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COVID-19 Impact Analysis:

• In the year 2020, the COVID-19 pandemic had a fortunate impact over the pharmaceuticals ingredients market as the key players and the countries are producing huge amounts of ingredients in order to manage the demand for the COVID 19 treatment.
• Further, the outbreak of pandemic has headed the manufacturers to redirect their business models in order to concentrate more towards a larger pool of patients.

Key Developments in the Marketplace:

• In February 2021, the key player named Aurobindo Pharma Limited, which is a pharmaceutical manufacturing company based in Hyderabad, announced that it is planning to invest approximately around US$ 400 million over 30 months, and also the company will produce four more bulk medicines based on fermentationwhich are currently not manufactured in India.

The prominent market players operating in the active pharmaceutical ingredientmarket includes:

• Albemarle Corporation
• Aurobindo Pharma
• Reddy’s Laboratories Ltd.
• AbbVieInc
• Teva Pharmaceutical Industries Ltd
• Mylan N.V.
• CiplaInc
• Boehringer Ingelheim International GmbH
• Merck & Co., Inc
• Sun Pharmaceutical Industries Ltd
• Bristol-Myers Squibb Company

Segments Covered in the Report

The global active pharmaceutical ingredient market report includes market segmentation and its revenue estimation by classifying it on the basis of type of manufacturer, type, type of synthesis,application, and regions as follows:

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
• Latin America
• Middle East & Africa (MEA)

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