Pune, Maharashtra, India, September 12 2022 (Wiredrelease) Prudour Pvt. Ltd –:The global market report covering active pharmaceutical ingredients was worth 210.42 billion by 2021. It is projected to grow at a 7.2% CAGR between 2022- 2032.
Globally, COVID-19’s impact has been extraordinary and overwhelming. All regions of the pandemic have experienced a negative demand shock. According to our analysis, the global pharmaceutical market saw a massive decline of -6.9% during 2020. The market’s recovery to pre-pandemic demand levels and growth after the pandemic has led to a sudden rise in the CAGR.
Any drug to achieve its intended effects will contain an Active Pharmaceutical Ingredient. These ingredients are also called bulk drugs. These drugs can be manufactured by either a chemical or biological process. With the increasing trend towards innovation and advancements in therapeutic drugs by different pharmaceutical and biotechnology companies, the market will likely show a positive outlook.
Recent years have seen many biotech and pharmaceutical companies outsource their manufacturing operations overseas to save money. Multiple regulatory changes have been made in production and manufacturing since this initiative. This trend will continue to drive global market growth over the forecast period.
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Driving Factors:
Drug development: Adoption of organ-on-chip models.
Despite significant investments in R&D in pharma, there has been an annual decrease in FDA-approved new drugs. This was almost directly proportional to R&D expenditures. Developing predictive tissue models from human cells is essential to reduce the high costs of drug development.
This is where organ-on-a-chip technology can help fill the gaps in drug screens by providing predictive models of human tissues. This technology is expected to revolutionize pharmaceutical development by making drug discovery more efficient, cheaper, and ultimately more profitable. Therefore, organ-on-chip model adoption in drug development can be considered a positive indicator for the growth of Active Pharmaceutical Ingredients.
Restraining Factors:
Market Growth Restricted by Price Fluctuations from Emerging Nations
Market growth will be impeded by the unanticipated and periodic changes in drug pricing policies in emerging regions. These are the most important manufacturing hubs. China’s dependence on China for the production of active ingredients has resulted in unexpected changes to its pricing policy. This will impact the market’s overall growth.
In August 2018, for example, the price of chlorpheniramine API jumped 57 times as Hunan Er-Kang Medical Operation (HEMO) and Henan Jiushi Pharmaceutical abused their position as the sole local suppliers. The prices dropped to regular levels after the intervention of China’s State Administration of Market Regulations (SAMR), and the high fine imposed on the regulator.
Market Key Trends:
There are two key trends in the market: the rising prevalence of chronic illnesses such as respiratory and cardiac diseases and the geographic expansion of API makers in Asia. According to the World Health Organization, 70% of all deaths worldwide are due to non-communicable conditions. 15 million people in the 30- to 69-year-old age range die yearly from non-communicable diseases. Over 80% of premature death cases occur in low and middle-income countries.
Due to the ability of high potency active pharmaceutical components (HPAPIs) to target diseased cells more precisely and selectively than any APIs, there is an increasing demand for HPAPIs. This is a more efficient treatment for cancer, chronic diseases such as diabetes, and heart disease.
Recent development:
Novasep (a supplier of services to the life sciences sector) invested over EUR 6 million at its Chasse-sur-Rhone France site in December 2021 to upgrade its capabilities for newer APIs in oncology or central nervous areas system, CNS, and infectious disease. Pfizer Inc. and Gilead Sciences Inc. signed a multiyear agreement in August 2020 to produce and supply Gilead’s investigational antiviral medication remdesivir. This will support efforts to increase the supply of COVID-19 treatment.
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Key Companies:
Merck & Co., Inc.
AbbVie, Inc.
Bristol-Myers Squibb Company
Boehringer Ingelheim International GmbH
Cipla, Inc.
Teva Pharmaceutical Industries Ltd.
Albemarle Corporation
Viatris Inc.
Mylan N.V.
Sun Pharmaceutical Industries Ltd.
GlaxoSmithKline Plc
Other Key Players
These are the largest companies in the active pharmaceutical ingredient market.
Segmentation:
The key market segmentation of the API market is given below,
By Type of Synthesis
– Synthetic Segment
– Biotech Segment
— Vaccines
— Recombinant Proteins
— Monoclonal Antibodies
By Type
– Innovative APIs
– Generic APIs
By Type of Manufacturer
– Captive APIs
– Merchant APIs
By Application
– Oncology Segment
– Cardiovascular Diseases
– Ophthalmology
– CNS and Neurology
– Other Applications
Key questions:
How big is the active pharmaceutical ingredients market (API market)?
What is the expected CAGR of active pharmaceutical ingredients (APIs) during the forecast period?
What are some major factors driving the active pharmaceutical ingredient (API) market growth?
What are the leading players in the global active pharmaceutical ingredients market (API)?
Related Report:
Global High-Performance Active Pharmaceutical Ingredients Market Potential Growth, Share, Demand, And Analysis Of Key Players- Research Forecast By 2031
Global Generic Active Pharmaceutical Ingredients Market Evolving Technology, Trends, And Industry Analysis And Forecast To 2031
Global Heparin Active Pharmaceutical Ingredients Market Expands Worldwide With Impressive Sales Trends By 2031
Global High Potency Active Pharmaceutical Ingredients (HPAPI) Market Trends, Drivers, Strategies, Applications, And Competitive Landscape 2031
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