With manufacturers focusing on expansion of their product lines, sterile active pharmaceutical ingredients market will exhibit growth at accelerated pace
With manufacturers focusing on expansion of their product lines, sterile active pharmaceutical ingredients market will exhibit growth at accelerated pace
Fact.MR, New York: The global sterile active pharmaceutical ingredients market is forecast to expand at 6.7% CAGR throughout the period 2018-2028. As per a study by Fact MR, surge in geriatric population and rising incidence of chronic diseases like cancer are leading factors influencing the market growth. Availability of cheap labor and low cost manufacturing in emerging economies is promoting the market players to expand in these regions.
According to a report published by European Federation of Pharmaceutical Industries and Associations (EFPIA) annual expenditure towards research and development of pharmaceutical drugs in Europe was 2.5% per annum till 2016. Increasing expenditure is expected to lead to new molecule discovery and elevate the demand for sterile active pharmaceutical ingredients.
“Increasing investment in research and development initiatives towards developing finished sterile active pharmaceutical ingredients and rising preference for low cost manufacturing are encouraging investment in in-house active pharmaceutical ingredients manufacturing”, said a lead analyst at Fact.MR.
Request Sample of the report on the sterile active pharmaceutical ingredients market https://www.factmr.com/connectus/sample?flag=S&rep_id=1702 Sterile active pharmaceutical ingredients market: Key Findings
- Rising prevalence of chronic diseases and development of targeted treatments drives the monoclonal antibodies market growth.
- The sterile active pharmaceutical ingredients market South Asia is forecast to grow at 8% CAGR by the end of 2029.
- North America is expected to continue dominate the sterile active pharmaceutical ingredients market owing to balanced in-house manufacturing of active pharmaceutical ingredients.
- Advancement and development of sterile active pharmaceutical ingredients manufacturing facilities in East Asia will lead to profuse market growth by the end of forecast period.
- Aqueous form of sterile active pharmaceutical ingredients is forecasted to lead the market owing to its high solubility for non-water soluble drugs.
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Sterile active pharmaceutical ingredients market – Key Driving Factors
- Growing popularity and effectiveness of targeted therapy drugs drives the market growth.
- Increasing healthcare spending exhibited by customers is forecast to increase the sterile active pharmaceutical ingredients market growth.
- Adoption of biologics in treatment of chronic diseases will boost market demand.
Sterile active pharmaceutical ingredients market – Key Restraints
- Stringent regulatory policies in developing nations restrict the market growth.
- High capital investment required for sterile active pharmaceutical ingredients production hinders for the market growth.
- Low profit margins and high competitiveness along with unsecure supply chain channels impedes the market growth.
Sterile active pharmaceutical ingredients market – COVID-19 Impact
COVID-19 pandemic restricted the supply of sterile active pharmaceutical ingredients required for production of wide range of medicines. Heavy reliance on China for active pharmaceutical ingredients (APIs) manufacturing led to shortage of APIs during pandemic. However, pandemic promoted the developing nations like India to invest in their native manufacturing companies and become self-reliant in active pharmaceutical ingredients production. Partnership between the key players and government agencies boosted the development of active pharmaceutical ingredients (APIs) and ensured the consistent flow of APIs is maintained. Pandemic forced the leading market players to redesign their supply chain infrastructure.
Competitive Landscape
Some of the leading sterile active pharmaceutical ingredients manufacturers are Sun Pharmaceutical Industries Ltd, Boehringer Ingelheim International GmbH, Sanofi S.A., Teva Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Corden Pharma GmbH. Their main focus is establishing new manufacturing units in developing economies to capture maximum market shares. For instance, new cGMP production line was opened by Sun Pharmaceutical Industries Ltd, in Guwahati, India in 2018with sole purpose of boosting the production capacity of sterile active products. They are also embracing modern aseptic processing techniques for sterile active pharmaceutical ingredients production.
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More Insights on the sterile active pharmaceutical ingredients market
In its latest report, Fact.MR offers unbiased analysis of the sterile active pharmaceutical ingredients market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (Monoclonal Antibodies, Immunoglobulin, Cytokines, Insulin, Peptide Hormones, Blood Factors, Peptide Antibiotics, Vaccines, Small Molecule Antibiotics, Highly Potent Active Pharmaceutical Ingredients (HPAPI), others), form (Aqueous, Non Aqueous Liquid, dry powder), across six regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa).
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Source: Fact.MR