Active Pharmaceutical Ingredients Market Size Worth USD 329.80 Billion in 2032 | Emergen Research

Rising demand for pharmaceutical drugs and increasing drug Research & Development (R&D) activities are key factors driving Active Pharmaceutical Ingredients (API) market revenue growth

Vancouver, Jan. 04, 2024 (GLOBE NEWSWIRE) — The global Active Pharmaceutical Ingredients (API) market, valued at USD 144.70 Billion in 2022, is poised to experience a rapid revenue Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period. This surge is attributed to the escalating demand for pharmaceutical drugs and the intensification of Research & Development (R&D) activities within the sector.

APIs, the active components of drugs, are gaining prominence as a key player in the cure, mitigation, treatment, and prevention of diseases. The market’s growth is further fueled by the rising prevalence of chronic illnesses and infectious diseases globally. According to data from the European Commission and the World Health Organization, diseases like cancer and cardiovascular ailments continue to afflict millions, emphasizing the need for the development of new drugs, especially in high-end therapeutic areas.

The pharmaceutical industry in India, contributing significantly to global vaccine supply and generic medications, is also a pivotal factor influencing market dynamics. The Indian pharmaceutical market, valued at USD 42.0 billion in 2021, is projected to reach USD 65.0 billion by 2024. The complexity of chronic diseases and the surge in new cases are driving the demand for innovative drugs, especially biological drugs. Moreover, pharmaceutical companies are intensifying their focus on R&D to bring novel drugs to market, propelling the market’s revenue growth.

However, the market faces challenges stemming from unexpected changes in drug pricing rules, particularly in emerging countries like China. Reliance on these countries for manufacturing active ingredients has led to fluctuations in pricing strategies, impacting market dynamics. Despite this, the industry is witnessing a trend of biopharmaceutical companies partnering with Contract Development and Manufacturing Organizations (CDMOs) to leverage technical expertise and scale up API production.

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Type-wise, the innovative API segment claimed the largest revenue share in 2022. This can be attributed to the growing demand for advanced treatment alternatives driven by technological advancements in healthcare. Patented innovative APIs offer exclusivity to pharmaceutical companies, encouraging investment in R&D. The emphasis on precision medicines and personalized treatments further propels the growth of this segment.

The generic API segment is expected to register a moderate growth rate, driven by the expiration of patents for branded medications and the increasing adoption of Over-the-Counter (OTC) medicines. Collaborations, such as the joint venture between Teva Pharmaceutical Industries Ltd. and Takeda Pharmaceutical Company Limited, reflect the industry’s response to this trend.

In terms of synthesis, the synthetic API segment is anticipated to hold a significant revenue share, leveraging precise control over molecular makeup and scalability for large-scale production. Meanwhile, the biotech API segment is witnessing steady growth due to the rising demand for biopharmaceuticals and FDA approvals for biological pharmaceuticals.

Therapeutic applications reveal that the Cardiovascular Disease (CVD) segment is set to dominate the market, driven by the increasing global prevalence of these diseases. The Oncology segment, experiencing the fastest growth rate, is fueled by the rising incidence of cancer and lifestyle changes.

Geographically, North America led the market in 2022, attributed to the prevalence of chronic illnesses, increased government funding for drug development, and the quick adoption of biological pharmaceuticals. Meanwhile, the Asia Pacific region is expected to witness the fastest growth, driven by the rising number of contracted manufacturing companies in countries like China and India. Europe, with significant market participants and increased financing for research initiatives, is projected to hold a considerable revenue share.

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Scope of Research

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Major Companies and Competitive Landscape

The global API market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective API in the market. Some major players included in the global API market report are:

• AbbVie Inc.
• Pfizer, Inc.
• Sanofi
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Teva Pharmaceutical Industries Ltd.
• ELI Lilly and Company
• GlaxoSmithKline plc.
• Merck & Co., Inc.
• Lonza
• Hisun USA, Inc.
• Biocon Ltd,
• BASF SE
• Cambrex Corporation

Strategic Development

• In May 2023, May SynCrest Inc., a peptide and nucleotide Contract Research, Development and Manufacturing Organization (CRDMO) jointly owned by Otsuka Chemical Co., Ltd. and Yokogawa Electric Corporation, announced that pharmaceutical companies and research institutions in Japan, Europe, North America, and South America can now avail its services. With its advanced continuous flow synthesis with in-line monitoring, the company is able to produce raw materials, intermediates, and APIs while addressing the specific issues at every point of the drug development value chain.
• In March 2021, Rodeo Therapeutics, a biopharmaceutical company that specializes in creating small molecule treatments, was confirmed to have been acquired by Amgen. With the acquisition, Amgen will be able to increase the range of its inflammatory APIs.

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global API market on the basis of drug type, type of manufacturer, type of synthesis, therapeutic application, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Innovative Active Pharmaceutical Ingredients (API)
  • Generic Active Pharmaceutical Ingredients (API)

• Drug Type Outlook (Revenue, USD Billion; 2019-2032)
  • Prescription Drugs
  • Over-the-Counter (OTC) Drugs

• Potency Outlook (Revenue, USD Billion; 2019-2032)
  • Traditional API
  • Highly Potent API (HPAPI)

•  Type of Manufacturer Outlook (Revenue, USD Billion; 2019-2032)
  • Captive Manufacturers
  • Merchant API Manufacturers 

• Type of Synthesis Outlook (Revenue, USD Billion; 2019-2032)
  • Synthetic Active Pharmaceutical Ingredients (API)
    1. Synthesis API, by Type
       • Innovative Synthetic APIs
       • Generic Synthetic APIs
  • Biotech Active Pharmaceutical Ingredients (API)
    1. Biotech API, by Type
       • Innovative Biotech APIs
       • Biosimilars
    2. Biotech API, by Product 
       • Monoclonal Antibodies 
       • Vaccines 
       • Cytokines 
       • Fusion Proteins 
       • Therapeutic Enzymes 
       • Blood Factors
    3. Biotech API, by Expression System 
       • Mammalian Expression Systems 
       • Microbial Expression Systems
       • Yeast Expression Systems 
       • Transgenic Animal Systems
       • Others

• Therapeutic Application Outlook (Revenue, USD Billion; 2019-2032)
  • Cardiovascular Diseases (CVDs)
  • Oncology
  • Central Nervous System (CNS) and Neurology
  • Orthopedic
  • Endocrinology
  • Pulmonology
  • Gastroenterology
  • Nephrology
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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