LOS ANGELES, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The Global Active Pharmaceutical Ingredient Market Size accounted for USD 196.8 Billion in 2021 and is estimated to achieve a market size of USD 342.9 Billion by 2030 growing at a CAGR of 6.5% from 2022 to 2030.
Active Pharmaceutical Ingredient Market Statistics
- Global active pharmaceutical ingredient market revenue was worth USD 196.8 billion in 2021, with a 8.2% CAGR from 2022 to 2030
- North America active pharmaceutical ingredient market share gathered more than 39.2% in 2021
- Asia-Pacific active pharmaceutical ingredient market growth is expected to expand at a CAGR of 6.9% from 2022 to 2030
- By type of synthesis, the synthetic APIs category capture over 73.8% of total market share in 2021
- Rising prevalence of cancer and diabetics, propel the active pharmaceutical ingredient market value
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Active Pharmaceutical Ingredient Market Report Coverage:
| Market | Active Pharmaceutical Ingredient Market | |
| Active Pharmaceutical Ingredient Market Size 2021 | USD 196.8 Billion | |
| Active Pharmaceutical Ingredient Market Forecast 2030 | USD 342.9 Billion | |
| Active Pharmaceutical Ingredient Market CAGR During 2022 - 2030 | 6.5% | |
| Active Pharmaceutical Ingredient Market Analysis Period | 2018 - 2030 | |
| Active Pharmaceutical Ingredient Market Base Year | 2021 | |
| Active Pharmaceutical Ingredient Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Type of Synthesis, By Type of Manufacturer, By Type, By Application, And By Geography | |
| Active Pharmaceutical Ingredient Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | AbbVie Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd, Cipla, Inc., Albemarle Corporation, Bristol-Myers Squibb Company, Sun Pharmaceutical Industries Ltd., Mylan N.V., Aurobindo Pharma, and Dr. Reddy’s Laboratories Ltd. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Active Pharmaceutical Ingredient Market Overview
The active pharmaceutical ingredient (API) is the active component of a drug. API is an element of every drug which delivers the desired consequences. Drugs are typically composed of multiple components. Some medications, such as combination therapies, contain different active compounds that treat clinical signs or behave in different ways. During both the R&D and commercial production phases, they are manufactured using technologically advanced manufacturing processes.
Active Pharmaceutical Ingredient Market Trends
The global geriatric population is also expected to contribute to the active pharmaceutical ingredient (API) market growth. According to WHO estimates, the global population of people aged 65 and up is expected to grow from 7% in 2000 to 16% in 2050. Latin America, in particular, is expected to experience the fastest growth in the geriatric population. The patent expiration of blockbuster drugs increased overseas manufacturing operations due to high production costs, and strict API production regs are expected to increase competition in the market. Many businesses are opening manufacturing facilities in emerging economies such as Asia-Pacific as part of their strategic geographic expansion.
In terms of application, the cardiology segment dominates the market for active pharmaceutical ingredients due to a large number of people using various CVD medications. This segment is expected to grow at a CAGR of around 6% over the forecast period. Coronary heart disease (CHD) is the most commonly recognized type of cardiovascular infection, claiming the lives of more than 370,000 people in the United States alone each year. According to the American Heart Association (AHA), cardiovascular disease accounts for 17.3 million deaths each year. According to the Centers for Disease Control and Prevention, approximately 610,000 people die in the United States each year as a result of heart disease, i.e., one out of every four deaths can be attributed to cardiovascular diseases (CVDs).
The key medication categories under CVS are cholesterol reducers as well as circulatory strain-lowering medications. Cholesterol reducers, especially Statins, are pushing the CVS segment and have risen to become the most important group of medications among cholesterol and triglyceride reducers. In 2017, the cost of medical services for hypertension ranged from USD 23 to USD 26 billion in developed markets alone. In 2017, another USD 14 to 17 billion was invested in pharmerging markets. The increased use of the cardiovascular class reflects the growing interest in APIs in the equivalent.
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Active Pharmaceutical Ingredient Market Segmentation
The global active pharmaceutical ingredient market has been segmented by Acumen Research and Consulting based on type of synthesis, type of manufacturer, type, and application. By type of synthesis, the segment is separated into biotech (recombinant proteins, monoclonal antibodies, and vaccines), and synthetic.
In terms of type of manufacturer, the market is categorized into captive APIs, and merchant APIs. According to the active pharmaceutical ingredient market forecast, the areata category is predicted to develop significantly in the next years.
Based on type, the market is categorized into innovative APIs, and generic APIs. Moreover, the market is split into cardiology, oncology, pulmonology, cns & neurology, ophthalmology, orthopedic, endocrinology, gastroenterology, nephrology, and others, based on the application.
Active Pharmaceutical Ingredient Market Regional Overview
Based on the region, the worldwide active pharmaceutical ingredient market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to an active pharmaceutical ingredient industry analysis, North America has dominated the global market. The North American market is primarily driven by an increase in the prevalence of cancer and diabetes as well as an increase in the geriatric population in the United States. Furthermore, an increase in the demand for innovative medicine in the United States is expected to fuel the country's APIs market growth over the forecast time frame. The Asia-Pacific market is expected to expand rapidly over the forecasted time frame. Japan dominated the APIs market in Asia-Pacific, while China's API market value is expected to grow at an exponential CAGR over the forecast time frame.
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Active Pharmaceutical Ingredient Market Players
The API market is highly consolidated, with many industry players. Key market players' company profiles include significant business strategies, company overviews, and revenues. Some of the prominent active pharmaceutical ingredient market companies are Sun Pharmaceutical Industries Ltd., AbbVie Inc., Boehringer Ingelheim International GmbH, Cipla, Inc., Bristol-Myers Squibb Company, Mylan N.V., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd, Aurobindo Pharma, Albemarle Corporation, and Dr. Reddy’s Laboratories Ltd.
Questions Answered By This Report
- What was the market size of Active Pharmaceutical Ingredient Market in 2021?
- What will be the CAGR of Active Pharmaceutical Ingredient Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Active Pharmaceutical Ingredient Market?
- Which region held the largest share in Active Pharmaceutical Ingredient Market in 2021?
- What are the key market drivers of Active Pharmaceutical Ingredient Market?
- Who is the largest end user Active Pharmaceutical Ingredient Market?
- What will be the Active Pharmaceutical Ingredient Market value in 2030?
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