Pune, India, April 26, 2023 (GLOBE NEWSWIRE) -- The global small molecule API market size was USD 146.14 billion in 2022 and is projected to grow from USD 154.95 Billion in 2023 to USD 246.22 billion by 2030, exhibiting a CAGR of 6.8% during the forecast period. For a very long-time, small molecule, APIs have served as the pharmaceutical industry's mainstay. As they can largely be taken orally and can penetrate cellular membranes to reach intracellular targets, these products have specific therapeutic advantages. Pharmaceutical Technology article states that tiny molecules make up about 58% of the medicinal products now being developed.
As chronic diseases are becoming increasingly common worldwide, pharmaceutical companies have been forced to provide more therapeutic pharmaceuticals as a result of the rising demand for these goods. Fortune Business Insights presents this information in their report titled "Global Small Molecule API Market, 2023–2030."
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Key Industry Development:
April 2022 - Novartis received accelerated approval from the U.S. FDA for Vijoice for the treatment of adult and pediatric patients two years of age and older with severe manifestations of PIK3CA-Related Overgrowth Spectrum (PROS) who require systemic therapy.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6.8% |
| 2030 Value Projection | USD 246.22 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 146.14 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 180 |
Key Takeaways:
- The global market stood at USD 146.14 billion in 2022 and is projected to reach USD 246.22 billion by 2030.
- The market will exhibit steady growth at a CAGR of 6.8% during the forecast period (2023-2030).
- By type, the branded segment will lead the market during the forecast period.
- Lonza, EuroAPI, and Pfizer Inc. are a few of the top players in the market.
- A strong pipeline of small molecules along with its distinct application and clinical advantages are a few of the key factors driving the market.
Drivers & Restraints:
Clinically Promising Small Molecule Options to Support Market Development
The rising need for the management and treatment of chronic diseases around the world and the growing number of small molecules being developed as drug candidates are the reasons why small molecule APIs are a crucial part of the pharmaceutical industry. The global small molecule API market growth is attributed to the increasing pipeline and growing number of marketed small molecules. Small molecules broadening scope in various new therapeutic indications has resulted in a focus on R&D initiatives by pharmaceutical companies, which has further led to a strong pipeline for small molecule products.
On the contrary, the launch of new modalities, such as mRNA and biologics, is growing their available treatment range to patients and can be used as a possible substitute to small molecule APIs, which may stifle the market growth.
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Segments:
Market Players' Increased R&D Efforts for Branded Products to Lead to the Segment’s Dominance
Based on type, the market is segmented into branded and generic.
Due to extensive R&D initiatives by pharmaceutical companies focusing on creating unique products to introduce innovative therapeutic treatments, the branded segment had the biggest share in 2022. Also, new development opportunities for the manufacture of branded small molecule APIs are envisaged as the therapeutic application of these products.
Robust Pipeline is Expected to Make the Oncology Segment Dominate
On the basis of indication, the market is segmented into oncology, diabetes, and others.
Due to a number of variables, including the rising incidence of cancer worldwide and the discovery of novel therapies for its treatment, the oncology segment now holds a monopoly on the market and is predicted to expand at a higher CAGR over the forecast period. Pharmaceutical firms place a strong emphasis on targeted medications with high potency and minimal toxicity that can target cancer cells specifically. One of the main elements fueling the segment's growth is a number of research & development initiatives involving small molecule cancer medicines.
Availability of Raw Materials will Drive the Captive Segment
On the basis of manufacturing type, the market is segmented into captive and merchant.
In 2022, the captive segment held the biggest global market share. The focus of pharmaceutical businesses on the internal production of active pharmaceutical ingredients has been greatly aided by the accessibility of raw materials and significant investment by pharmaceutical organizations in the introduction of innovative manufacturing facilities. Furthermore, some of the factors promoting the growth of the captive segment include strategic actions taken by prominent companies such as the expansion of manufacturing facilities and the signing of supply agreements with other players.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
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Regional Insights
North America Dominated the Market due to Large Population Suffering from Chronic Illnesses
In 2022, the North America market had generated a revenue of USD 55.25 billion. During the forecast period, the region is anticipated to dominate the market. The growth of the region is attributed to increased government initiatives to develop new therapeutic drugs and increasing incidences of chronic diseases. The adoption of small molecule drugs by patients to treat various chronic diseases aids the expansion of the North America small molecule API market share.
Europe witnessed positive growth trajectory in 2022 due to rise in funds for R&D initiatives and the presence of major pharmaceutical manufacturing companies in the region.
Competitive Landscape
Diversified Portfolios Assist Key Players to Maintain Dominance
The global market is fragmented. Top players, such as Lonza, EuroAPI, and Pfizer Inc., offer a wide variety of products. With a diversified portfolio, market leaders enjoy a commanding position. Its substantial market share is a result of companies equipped with cutting-edge technologies. Small and medium companies, along with large pharmaceutical companies, focus on initiating small molecule therapeutic agents in the market. Companies are operating to get regulatory approvals and establish significant market share.
List of Key Players Profiled in the Report
- Teva Pharmaceutical Industries Ltd. (Israel)
- Cipla Inc. (India)
- Dr. Reddy’s Laboratories Ltd. (India)
- Sun Pharmaceutical Industries Ltd. (India)
- Aurobindo Pharma (India)
- Merck KGaA (U.S.)
- AbbVie Inc. (U.S.)
- Lonza (Switzerland)
- Sanofi (France)
- Pfizer Inc. (U.S.)
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Table of Content
- Key Insights
- Key Industry Developments
- Overview of Pipeline Analysis
- Overview of Regulatory Scenario, By Country/Region
- Prevalence of Chronic Diseases
- Impact of COVID-19 on the market
- Global Small Molecule API Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Branded
- Generic
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Diabetes
- Cardiovascular Diseases
- Others
- Market Analysis, Insights and Forecast – By Manufacturing Type
- Captive
- Merchant
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Type
- North America Small Molecule API Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Branded
- Generic
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Diabetes
- Cardiovascular Diseases
- Others
- Market Analysis, Insights and Forecast – By Manufacturing Type
- Captive
- Merchant
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Type
- Canada
- By Type
- U.S.
- Market Analysis, Insights and Forecast – By Type
- Europe Small Molecule API Market Analysis, Insights and Forecast, 2018-2029
TOC Continued...!
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FAQs:
How big is the Small Molecule API Market?
The global market stood at USD 146.14 billion in 2022 and is projected to reach USD 246.22 billion by 2030.
Who are the major players in this market?
Lonza, EuroAPI, and Pfizer Inc. are a few of the top players in the market.
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