Pune, India, Feb. 03, 2023 (GLOBE NEWSWIRE) — The global active pharmaceutical ingredient market size was USD 159.35 billion in 2020. The market is projected to grow from USD 174.17 billion in 2021 to USD 272.44 billion in 2028 at a CAGR of 6.6% in the 2021-2028 period. According to our expert analysts, the increasing prevalence of chronic diseases and the rising demand for modified medicine, coupled with the advent of novel drug delivery devices are few of the aspects estimated to play a crucial role in improving the active pharmaceutical ingredients market growth during the mentioned timeframe.
Key Industry Development
- Amgen confirmed the acquisition of Rodeo Therapeutics, a biopharmaceutical firm that focuses on developing small molecule therapies. The acquisition will enable Amgen to expand its inflammation APIs portfolio.
- Wavelength Pharmaceuticals completed the acquisition of a majority stake in Vanamali Organics Pvt. Ltd. based in Telangana, India to strengthen its global supply chain.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.6% |
| 2028 Value Projection | USD 272.44 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 174.17 Billion |
| Historical Data | 2017 to 2019 |
| No. of Pages | 138 |
Key Takeaways
- As the pharmaceutical industry expands daily, several nations have put strict regulatory guidelines for the production of pharmaceutical ingredients in place.
- The demand for several vaccines, 40% of the demand for generic brands sold in the United States, and 25% of the demand for all medications in the United Kingdom are all met by the Indian pharmaceutical industry.
- China’s pharmaceutical sector is expanding faster than any other after India.
- In 2020, there will be 2.7 million new cases of cancer and 1.3 million fatalities in the European region.
Drivers and Restraints
Strong Demand for Pharmaceutical Drugs to Kindle Market Growth
The prevalence of various chronic diseases is on the rise owing to the upsurge in geriatric population and inactive lifestyles. This is generating an ever growing demand for therapeutic drugs in the API market. As per the Indian Brand Equity Foundation’s (IBEF) examination in June 2021, the Indian pharmaceutical sector was responsible for over 50% of the global demand for numerous vaccines, 40% of U.S. generic brand’s demand as well as U.K’s 25% of all medications demand. The aforementioned factors will bolster the active pharmaceutical ingredient market growth.
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Regional Insights
North America to Proliferate Led by Increasing Pharmaceutical R&D
North America was worth USD 76.77 billion in 2020 and the region is anticipated to be responsible for holding the highest active pharmaceutical ingredient market share of the global market during the predicted period.
The European region is estimated to perceive an optimistic growth during the forecast period owing to the upsurge in resources for research programs along with existence of major market players in this region.
The market in Asia Pacific is estimated to outdo the established market in North America and Europe, by recording the highest CAGR through the forecast period.
Report Coverage
The report presents a systematic study of the active pharmaceutical ingredient market sections and systematic examination of the market overview. A thoughtful assessment of the current market trends as well as the upcoming prospects is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth.
The COVID-19 impact has been added in the report to aid investors and business experts with an enriched understanding of the conceivable jeopardies existing in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.
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Segmentation
On the basis of type, the global market can be segregated into generic API, and branded API.
Based on type, the market is segmented into generic API and branded API. Whereas by synthesis, the market is divided into synthetic and biological. The market is led by the synthetic API segment, this is owing to the low production price of chemically manufactured API and moderately low cost of the raw materials utilized for the production of synthetic active pharmaceutical ingredients.
In terms of region, the global market can be classified into North America, Europe, Asia Pacific, and the Rest of the World.
Competitive Landscape
Companies Seek Collaboration Strategies to Safeguard Their Brand Value
Important players in the market are incessantly rooting for operative tactics to endorse their products and inaugurate their positions in the market. One such approach is to unveil novel products by collaborating with numerous companies to expand their reach to end-users.
List of Key Players Covered in the Market Report
- Teva Pharmaceutical Industries Ltd (Petah Tikva, Israel)
- AbbVie Inc. (North Chicago, U.S.)
- Abbott (Abbott Park, U.S.)
- Aurobindo Pharma (Hyderabad, India)
- Cipla Inc. (Mumbai, India)
- Dr. Reddy’s Laboratories Ltd (Hyderabad, India)
- Sun Pharmaceutical Industries Ltd (Mumbai, India)
- Amgen Inc. (Thousand Oaks, U.S.)
- Biocon (Bengaluru, India)
- Mylan N.V. (Canonsburg, U.S.)
- Boehringer Ingelheim International GmbH (Ingelheim am Rhein, Germany)
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Table of Content
- Global Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Country
- Europe Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
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- Market Analysis, Insights and Forecast – By Country/Sub-Region
- Asia Pacific Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Synthesis
- Market Analysis, Insights and Forecast – By Country/Sub-Region
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- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
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Continued…
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