Acumen Research and Consulting recently published report titled “High Potent Active Pharmaceutical Ingredient Market Growth - Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028. The high potency active pharmaceutical ingredient market is expected to grow at a CAGR of around 8.2% from 2021 to 2028
NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- North America holds dominating share for high potent active pharmaceutical ingredient market; Asia Pacific anticipated to record fastest growing CAGR
North America dominance for high potency active pharmaceutical ingredient market is due to their associated low prices as compared to patented drugs, growing number of pharmaceutical manufacturers, patients, and increasing government initiatives to boost generic drug market. These are the key factors that are responsible for the growth of regional market ultimately contributing for the overall market growth of high potency active pharmaceutical ingredient market as a whole.
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On the other hand, Asia Pacific is projected to record all time high CAGR for HPAPI market in the coming years. This is due to presence of traditional manufacturers and smaller scale exporter meeting the most of the need for domestic or regional market. In short, investment in HPAPI products by these companies is consistent with local conditions and transformational global ambitions driven by a set of new opportunities emerging in major market.
Key takeaway:
Highly potent active pharmaceutical ingredient (HPAPI) in targeted therapy bolsters the growth of overall market
Targeted therapies are relatively new aspect triggering cancer treatment by assisting medical professionals make utility of new drugs that specifically target cancer cells with little or no damage to healthy cells. Additionally, it is an increasingly popular field of R&D in the pharma industry and the HPAPI market forming a major aspect of it. APIs or HPAPIs are frequently used in targeted cancer therapy and acts as a key driver for the growth of global market thereby using it in the field of oncology. Further, manufacturers are improving their capacities to meet the increasing demand for HPAPIs in this area.
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Competitive Landscape
The major players involved in the high potency active pharmaceutical ingredient market involve BASF SE, Dr. Reddy’s Laboratories Ltd., Pfizer, Inc., Sanofi S.A., Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Cambrex, and Cipla Inc.
Some of the key observations regarding high potency active pharmaceutical ingredient industry include:
- In April 2019, Cambrex, announced that it has completed the full construction of manufacturing facility at Charles City, Iowa. The site is involved in manufacturing wide range of active pharmaceutical ingredients (APIs) and pharmaceutical intermediaries which also involves and high potent molecules and controlled substance.
- In February 2018, Lonza, announced expansion of last stage clinical and commercial encapsulation capabilities for solid oral and inhaled dosage form in North America. As a part of the expansion, the company will install a new Modu-C MS encapsulation unit from Harro Hӧfliger, a German packaging company triggering product development and manufacturing facility in Florida to strengthen its product development acceleration.
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Market Segmentation
The global high potency active pharmaceutical ingredient market is segmented as product, manufacture type, drug type, and application. By product, the market is split into synthetic and biotech. Based on manufacturer type, the market is classified into in-house and outsourced. By drug type, the market is bifurcated into innovative and generic. Furthermore, application is segregated as oncology, hormonal disorders, glaucoma, and others.
Based on product, synthetic segment recorded significant share and is responsible for the growth of global high potency active pharmaceutical ingredient market. Based on drug type, innovative drug accounted for considerable share in the base year and is projected to continue this trend till the foreseeable future. Based on application, the oncology segment is expected to record maximum share in the coming years. Furthermore, based on manufacturer type, in-house segment will account largest revenue in the forecast period.
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