Newark, Oct. 16, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Active Pharmaceutical Ingredients (API) market is expected to grow from USD 211.0 Billion in 2022 to USD 349.2 Billion by 2030, at a CAGR of 6.5% during the forecast period 2022-2030.
An increase in research and development activities, as well as an increase in expenditures made by both public and private organizations, will create new chances for the market's growth rate. Inaddition, the introduction of efficient treatments and ongoing clinical tests will create lucrative opportunities for the active pharmaceutical ingredient (API) market during the forecast period.
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Competitive Strategy
To enhance their market position in the global Active Pharmaceutical Ingredients (API) market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In December 2021: Novasep provided services and technologies to the life sciences industry. The company put about 6 million euros into its Chasse-sur-Rhône site in France to improve its ability to work with the newer generation of APIs in fields like oncology, the central nervous system (CNS), and infectious diseases.
Market Growth & Trends
An active pharmaceutical ingredient (API) is a part of a drug that gives the desired results that an actual drug is supposed to provide. Most of the time, a drug will have more than one ingredient. The API is the essential component of a drug. Other parts of a drug are called excipients. Excipients aren't supposed to hurt living things, and they often make up a different amount of the final product. The word "formulation" refers to figuring out the best way to mix the parts used to make the drug and then make it. Some medicines have more than one active pharmaceutical ingredient (API) to treat a broader range of symptoms or do more complicated things. The API manufacturing industry is growing because of changes in geopolitics and because governments have put in place policies that help the industry. The growing incidence of chronic diseases is anticipated to drive up the need for pharmaceutical treatments, which will propel the market's expansion for active pharmaceutical components in the forecast period. In addition, some of the strategic activities that are being taken to keep the market stable include introducing new drugs and biological products, collaborations, acquisitions, and geographical expansions. In addition, developments in medical technology, an increase in the number of initiatives undertaken by public and private organizations to raise awareness, and an increase in the amount of funding provided by the government are the factors that will contribute to the expansion of the active pharmaceutical ingredient (API) market.
Report Scope
| Report Attribute | Details |
| Projected Market Size in 2030 | USD 349.2 Billion |
| CAGR Growth Rate | 6.5% |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Novartis AG,Sanofi,Pfizer Inc.,Johnson & Johnson Private Limited,Abbott,Teva Pharmaceutical Industries Ltd.,Bausch Health Companies Inc.,UCB S.A.,Sunovion Pharmaceuticals Inc.,GW Pharmaceuticals plc.,AstraZeneca,GlaxoSmithKline plc,H. Lundbeck A/S,Takeda Pharmaceutical Company Limited |
| Key Segment | Industry Analysis, Trends, Analysis and Forecast |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Key Findings
• In 2022, the captive API segment dominated the market with the largest market share of 58% and market revenue of USD 122.38 Billion.
The business mode segment is divided into monoclonal Captive API and Merchant API. In 2022, the captive API segment dominated the market with the largest market share of 58% and market revenue of USD 122.38 Billion. It is expected to increase over the next few years because raw materials are readily available, and prominent market players are investing heavily in building high-tech production facilities.
• The cardiology segment is expected to grow at the fastest CAGR of 7.1%.
The application segment is divided into cardiology, pulmonology, oncology, ophthalmology, neurology, orthopedics, and other applications. Over the forecast period, the cardiology segment is expected to grow at the fastest CAGR of 7.1%. Active pharmaceutical ingredients (API) drugs are being increasingly used in the treatment of cardiology diseases as there is an increase in the number of people suffering from this disease. Several groups, such as the World Heart Federation, the World Stroke Organization, and the Stroke Association, are working to bring more attention to heart diseases.
• In 2022, the synthetic segment dominated the market with the largest market share of 56% and market revenue of USD 118.16 Billion.
The synthesis type segment is divided into synthetic and biotech. In 2022, the synthetic segment dominated the market with the largest market share of 56% and market revenue of USD 118.16 Billion. This factor might be ascribed to the increased accessibility of raw materials and the simplification of the procedures required for synthesising these compounds.
Regional Segment Analysis of the Active Pharmaceutical Ingredients (API) Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Active Pharmaceutical Ingredients (API) industry, with a market share of 38% and a market value of around USD 80.18 Billion in 2022. North America currently dominates the Active pharmaceutical ingredients (API) market because more people are getting sick, and there are older people in the population. It is expected that the United States government's current political and trade moves to raise import tariffs and taxes will raise manufacturers' operational costs and put more pressure on them to raise prices.
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Key players operating in the global Active Pharmaceutical Ingredients (API) market are:
• Novartis AG
• Sanofi
• Pfizer Inc.
• Johnson & Johnson Private Limited
• Abbott
• Teva Pharmaceutical Industries Ltd.
• Bausch Health Companies Inc.
• UCB S.A.
• Sunovion Pharmaceuticals Inc.
• GW Pharmaceuticals plc.
• AstraZeneca
• GlaxoSmithKline plc
• H. Lundbeck A/S
• Takeda Pharmaceutical Company Limited
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global Active Pharmaceutical Ingredients (API) market based on below mentioned segments:
Global Active Pharmaceutical Ingredients (API) Market by Business Mode:
• Captive API
• Merchant API
Global Active Pharmaceutical Ingredients (API) Market by Synthesis Type:
• Synthetic
• Biotech
Global Active Pharmaceutical Ingredients (API) Market by Application:
• Cardiology
• Pulmonology
• Oncology
• Ophthalmology
• Neurology
• Orthopaedic
• Other
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About the report:
The global Active Pharmaceutical Ingredients (API) market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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