Active Pharmaceutical Ingredients and High Potency API Industry Data Book Covers Active Pharmaceutical Ingredients and High Potency Active Pharmaceutical Ingredients Markets.
The globalAPI and HPAPI marketscombine to account for USD 233.31 billion revenue in 2021, which is expected to reach USD 393.65 billion by 2030, growing at a cumulative rate of 6.0% over the forecast period.
Active Pharmaceutical Ingredients Market Growth Trends
The global active pharmaceutical ingredients market size is expected to reach USD 352.98 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.0% during the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical Ingredients (API) manufacturing, and an increase in the geriatric population.
The growth of the captive API segment is propelled by companies investing in solving challenges and developing new chemical ways for the production of APIs in-house. This aids in reducing costs and the risk of contamination. Artificial intelligence and protein synthesis are expected to facilitate faster development with greater control over the process.
The rising prevalence of chronic and lifestyle-based conditions, such as cardiovascular diseases, is accelerating the demand for API. For instance, as per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that supports cardiovascular disease development. Cardiovascular diseases are one of the global, critical public health burdens driving extensive RD for APIs in the field.
The active pharmaceutical Ingredients market was positively influenced by the COVID-19 pandemic, as countries and significant players produce large quantities of components to meet the demand for the treatment of COVID-19. As a result of the outbreak, drug companies have changed the companies strategies to focus on a larger patient population. To treat coronavirus, the U.S., for example, requested that HCQ be imported from India. The virus has also impacted Canada's medicine supply system, potentially causing complications for patients. The increasing importance of generics, rise in consumption of biopharmaceuticals, and expanding drug research and development activities for drug manufacturing are the primary drivers driving the growth of the market. However, the market's expansion is likely to be hampered by unfavorable drug price control regimes in several countries and high manufacturing costs.
Developing nations like India are receiving an increased preference in the market over dominant API market countries, like China, owing to geopolitical situations. Furthermore, India has quality raw materials and products, a large workforce, a vast distribution network, and government subsidies through the "Make in India" program.
To address unmet medical needs, companies are collaborating to develop novel treatments. This allows firms to use their resources to aid in the development of products and enhance the supply chain. In November 2021, Merck Co Inc. announced that it has acquired Acceleron Pharma, this acquisition would help Merck Co to expand their cardiovascular portfolio and pipeline.
Access the Global Active Pharmaceutical Ingredients and High Potency API Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
High Potency Active Pharmaceutical Ingredients Market Growth Trends
The global high potency active pharmaceutical ingredients market size is expected to reach USD 40.66 billion by 2030 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the HPAPI market is attributed to rising incidence of cancer, growing targeted therapies, and increasing application of high potency active pharmaceutical ingredients (HPAPI) in treating target diseases. Rising prevalence of cancer is expected to be a major factor. According to the WHO, cancer is the second leading cause of death, accounting for around 9.9 million deaths in 2020. Due to the growing number of people who contract the disease, cancer is regarded as one of the major health risks. The CDC states that factors such as smoking, obesity, alcohol use, and UV radiation exposure are risk factors for cancer since they contribute to the overall burden of the illness.
With limited treatment options and side effects associated with chemotherapy, there is a rising popularity of targeted therapy as it does not damage non-cancerous cells. In May 2021, Amgen, Inc. received the U.S. FDA approval for the launch of LUMAKRAS for treating patients with KRAS G12C-mutated locally advanced or metastatic NSCLC. LUMAKRAS is the first targeted product for the treatment of G12C-mutated KRAS NSCLC patients. This is likely to increase the demand for HPAPIs in the coming years. Characteristics of these anti-cancerous drugs, such as minimum exposure of drugs to non-cancerous cell and their effectiveness, are contributing to market growth.
The proprietary technology of companies, such as drug designing delivery technology helps develop novel treatment and HPAPI alternatives through collaborations with other key players, which may increase the number of research initiatives. For instance, in November 2021, the company launched a novel technology ChetoSensar to enhance the development of AntibodyDrug Conjugates (ADCs) therapies. This initiative is aimed at significantly doubling the companys efforts to boost its production of HPAPIs and ADCs.
Moreover,a closed containment facility is needed to manufacture HPAPIs because they are complex substances. To sustain continuous production, generic manufacturers are investing in the development of their facilities for manufacturing and technology improvements within these facilities, which is anticipated to propel the growth of the generic medication market throughout the course of the forecast period. Furthermore, key players operating in the HPAPI market are focusing on expanding. For instance, in March 2022, Lonza announced the laboratory expansion completion for its Nansha, China facility. The expansion was aimed at capacity enhancement of its small scale facilities for CGMP production of high potency APIs.
Order your copy of the Free Sampleof Active Pharmaceutical Ingredients and High Potency API Industry Data Book - Active Pharmaceutical Ingredients and High Potency Active Pharmaceutical Ingredients Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030 Data Book, published by Grand View Research
Competitive Landscape
Key players operating in the active pharmaceutical ingredients and high potency API industry are
- Teva Pharmaceutical Industries Ltd.
- AbbVie, Inc.
- BASF SE
- Boehringer Ingelheim International GmbH
- CordenPharma
- Merck Co., Inc.
- Dr. Reddys Laboratories Ltd.
- Cipla, Inc.
- Bristol-Myers Squibb Company
- Sun Pharmaceutical Industries Ltd.
- Sanofi
- Pfizer, Inc.
- Viatris Inc.
- Albemarle Corporation
- Aurobindo Pharma.
Grand View Researchs API and High Potency API industry databook is a collection of market sizing forecasts insights, regulatory technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.The following data points will be included in the final product offering in two reports and one sector report overview.
Go through thetable of content of Active Pharmaceutical Ingredients and High Potency API Industry Data Bookto get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone:1-415-349-0058
Toll Free:1-888-202-9519
Email:sales@grandviewresearch.com
