CHICAGO, May 17, 2024 /PRNewswire/ -- Active
Pharmaceutical Ingredient Market in terms of revenue was
estimated to be worth $163.5 billion
in 2024 and is poised to reach $238.3
billion by 2029, growing at a CAGR of 7.8% from 2024 to 2029
according to a new report by MarketsandMarkets™.
The growth of this market is driven by increasing demand for
active pharmaceutical ingredients in research and development of
novel therapeutics, collaborations between academic institutions,
research organizations, and industry players to develop innovative
APIs. Additionally, continuous advancements in API manufacturing
technologies, and automation have led to improved precision,
efficiency of API.
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Browse in-depth TOC on "Active Pharmaceutical Ingredient
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Active Pharmaceutical Ingredient Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$163.5
billion
|
Estimated Value by
2029
|
$238.3
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.8%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type, Synthesis, Type
of Drug, Potency, Therapeutic Applications, and End User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, Middle East and Africa
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increased use of highly
potent active pharmaceutical ingredients
|
Key Market
Drivers
|
Production capacity
expansion in pharmaceutical and biopharmaceutical
companies
|
The traditional API segment accounted for the largest share, by
potency in the active pharmaceutical ingredients market in
2023.
By product, the active pharmaceutical ingredients market is
segmented into traditional API and highly potent API. Traditional
APIs include low-potency, medium-potency, and potent APIs.
Low-potency APIs form category I of the SafeBridge classification
system. In 2023, the traditional APIs segment accounted for the
largest share of the active pharmaceutical ingredients market. This
can be attributed to increasing application across a range of
therapeutic areas, the growing uptake of these APIs in
biopharmaceuticals, and advancements in manufacturing processes
that are driving segment growth.
The synthetic APIs segment accounted for the largest share of
the synthesis segment in the active pharmaceutical ingredients
market in 2023.
Based on synthesis, the global active pharmaceutical ingredients
market has been segmented into synthetic APIs and innovative APIs.
The synthetic APIs segment held the largest market share in 2023.
The large share of this segment can be attributed to the growing
number of regulatory approvals for new drugs and technological
advancements in synthesis methods. Synthetic APIs offer certain
advantages over large molecules. They can be engineered to deliver
a strong therapeutic effect in small doses, often below 10 mg up to
microgram levels. The requirement for smaller amounts of APIs,
coupled with advancements in chemical manufacturing technologies,
makes them low-cost, high-efficacy products as compared to
large-molecule therapeutics. Moreover, the analytical techniques
used for developing small molecules are highly refined, thus
ensuring high quality, efficacy, and reproducibility.
The North American region catered to the largest share of the
active pharmaceutical ingredients market in 2023.
The North America market has
experienced significant growth in recent years, showing an
expansion growth, due to presence of the large pharmaceutical &
biopharmaceutical industry in the region, the increase in R&D
expenditure, strict country regulations, and the presence of
majority of key players of active pharmaceutical ingredients
products in the US and Canada.
Additionally, growth of the North American active pharmaceutical
ingredients market is driven by significant factors such as a
multitude of ongoing cancer research and clinical trials, the
expansion of the biosimilars and generics sector, and the
increasing adoption of outsourcing preclinical, clinical, and
manufacturing services by pharmaceutical and biopharmaceutical
companies.
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Active Pharmaceutical Ingredient Market Dynamics:
Drivers:
- Production capacity expansion in pharmaceutical &
biopharmaceutical companies
- Growing adoption of generic drugs
- Increasing uptake of biopharmaceuticals
- Technological advancements in API manufacturing
Restraints:
- Complications during API manufacturing
- Low profit margin and high manufacturing cost
Opportunities:
- Increased use of highly potent APIs
- Potential growth opportunities in emerging economies
Challenge:
- Rising penetration of counterfeit drugs
- Stringent regulatory requirements for API manufacturing
Key Market Players of Active Pharmaceutical Ingredient
Industry:
Key players in the active pharmaceutical ingredients market
include Pfizer Inc. (US), Teva Pharmaceutical Industries Ltd.
(Israel), GSK PLC (UK), Sanofi
(France), Viatris Inc. (US),
Divi's Laboratories Limited (India), Sandoz Group AG (Switzerland), Boehringer Ingelheim
International GmBH (US), SK Inc. (US), Eli Lilly and Company (US),
Merck KGaA (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd.
(Switzerland), AstraZeneca (UK),
Dr. Reddy's Laboratories Ltd. (India), Sun Pharmaceutical Industries Ltd.
(India), Cipla (India), Aurobindo Pharma (India), Evonik Industries AG (Germany), Hikma Pharmaceuticals PLC (UK), BASF
SE (Germany), Alembic
Pharmaceuticals Limited (India),
Aburaihan Pharmaceutical Company (Iran), Curia Global, Inc. (US), Cambrex
Corporation (US), API Pharma Tech (US), Sreepathi Pharmaceuticals
Limited (India), Shilpa Medicare
Limited (India), Nanjing Jianyou
Biochemical Pharmaceutical Co., Ltd. (China), Hovione (Portugal), ChemCon GmbH (Germany), and Pharco (Egypt).
The primary interviews conducted for this report can be
categorized as follows:
- By Respondent: Supply Side- 70% and Demand Side 30%
- By Designation: Managers - 45%, CXOs and Directors-level - 30%,
and Executives - 25%
- By Region: North America -40%,
Europe -25%, Asia-Pacific -20%, Latin America- 10%, and Middle East and Africa- 5%
Recent Developments:
- In January 2024, Dr. Reddy's
plans to invest Rs 700 crore
(USD 84.7 Mn) into capacity expansion
of biosimilars and Active Pharmaceutical Ingredients.
- In October 2023, Eli Lilly and
Company made a contract with the Swiss contract manufacturer,
CordenPharma, to produce tirzepatide, the API of the company's
diabetes medication, Mounjaro.
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Active Pharmaceutical Ingredient Market - Key Benefits of
Buying the Report:
The report will help market leaders/new entrants by providing
them with the closest approximations of the revenue numbers for the
overall market and its subsegments. It will also help stakeholders
better understand the competitive landscape and gain more insights
to better position their business and make suitable go-to-market
strategies. This report will enable stakeholders to understand the
market's pulse and provide them with information on the key market
drivers, restraints, opportunities, and challenges
The report provides insights on the following
pointers:
- Analysis of key drivers (Production capacity expansion in
pharmaceutical and biopharmaceutical companies, Growing adoption of
generic drugs, Increasing uptake of biopharmaceuticals and
Technological advancements in API manufacturing), restraints
(Complications during API manufacturing, Low profit margins and
high manufacturing costs), opportunities (Increased use of highly
potent active pharmaceutical ingredients, and Potential growth
opportunities in emerging economies), and challenges (Rising
penetration of counterfeit drugs and Stringent regulatory
requirements for API manufacturing).
- Product Development/Innovation: Detailed insights on newly
launched product and technological assessment of the active
pharmaceutical ingredients market
- Market Development: Comprehensive information about lucrative
markets - the report analyses the market across varied
regions.
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the active pharmaceutical ingredients market
- Competitive Assessment: In-depth assessment of market shares,
technology analysis, investment and funding scenario, company
footprint analysis, growth strategies and product offerings of
leading players like Pfizer Inc. (US), Teva Pharmaceutical
Industries Ltd. (Israel), GSK PLC
(UK), Sanofi (France), Viatris
Inc. (US), Divi's Laboratories Limited (India), Sandoz Group AG (Switzerland), Boehringer Ingelheim
International GmBH (US), SK Inc. (US), Eli Lilly and Company (US),
Merck KGaA (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd.
(Switzerland), AstraZeneca (UK),
Dr. Reddy's Laboratories Ltd. (India), Sun Pharmaceutical Industries Ltd.
(India), Cipla (India), Aurobindo Pharma (India), Evonik Industries AG (Germany), Hikma Pharmaceuticals PLC (UK), BASF
SE (Germany), Alembic
Pharmaceuticals Limited (India),
Aburaihan Pharmaceutical Company (Iran), Curia Global, Inc. (US), Cambrex
Corporation (US), API Pharma Tech (US), Sreepathi Pharmaceuticals
Limited (India), Shilpa Medicare
Limited (India), Nanjing Jianyou
Biochemical Pharmaceutical Co., Ltd. (China), Hovione (Portugal), ChemCon GmbH (Germany), and Pharco (Egypt).
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Ingredient Companies and Active Pharmaceutical Ingredient
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