Active Pharmaceutical Ingredients Market Business Prospects And Forecast Report 2024-2030
The global active pharmaceutical ingredients market size was estimated at USD 237.47 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.75% from 2024 to 2030.

The global active pharmaceutical ingredients market size was estimated at USD 237.47 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.75% from 2024 to 2030. 

Advancements in Active Pharmaceutical Ingredient (API) manufacturing, growth of the biopharmaceutical sector, and an increase in geriatric population are among the key drivers of API market. An increase in prevalence of chronic diseases, such as cardiovascular diseases and cancer, is anticipated to boost market growth.

Global geriatric population is increasing. According to UN, in 2022, people aged 65 and above accounted for 771 million of the population, and the number is anticipated to reach 994 million by 2030 to 1.6 billion by 2050. The number of elderly people is showing fastest growth in Africa, with a threefold increase estimated in people aged 60 and above, followed by Latin America, reaching 18.8 billion by 2050. Aging is considered the greatest risk factor for development of diseases, including cardiovascular and neurological diseases. Thus, rapidly growing global geriatric population is resulting to be a high-impact-rendering driver for API market.

Gather more insights about the market drivers, restrains and growth of the Active Pharmaceutical Ingredients Market

Increasing prevalence of infectious diseases and hospital-acquired infections is driving market growth. In addition, growing incidence of cardiovascular, genetic, and neurologic disorders is anticipated to act as a high-impact-rendering driver for market growth. Cardiovascular Diseases (CVDs) are the most prevalent causes of death globally. According to WHO, cardiovascular diseases cause death of 17.9 million people per day and are expected to cause approximately 25 million deaths by 2030. Increasing epidemiology of lifestyle, aided with rising number of smokers globally, growing incidence of obesity, and increasing dietary irregularities, are factors likely responsible to propel market growth. A recent report by the United Nations (UN) in May 2023 suggests that there has been a 75% increase in the number of girls and 61% in the number of boys with obesity in Europe.

Outsourcing of APIs has become profitable over in-house production. However, this trend took a different turn during the COVID-19 pandemic. Companies are looking to diversify their API suppliers and manufacturers to different locations instead of outsourcing it to just one manufacturer. In addition, risk mitigation is done using dual sourcing to ensure a continuous supply. Hence, key companies aim to capitalize on this ongoing outsourcing trend with new acquisitions. For instance, in August 2023, EUROAPI announced its deal to acquire BianoGMP to enhance its CDMO expertise in oligonucleotide manufacturing, which is a high-growth industry. This further demonstrates the company’s plans for vertical integration.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

The global antipsychotic drugs market size was valued at USD 16.88 billion in 2023 and is projected to grow at a CAGR of 6.1% from 2024 to 2030. 

The global drug and gene delivery devices market size was valued at USD 670.0 million in 2023 and is projected to grow at a CAGR of 9.0% from 2024 to 2030.

Active Pharmaceutical Ingredients Market Report Segmentation

Grand View Research has segmented the global active pharmaceutical ingredients market report based on type of synthesis, type of manufacturer, type, application, type of drug, and region:

Type of Synthesis Outlook (Revenue, USD Billion, 2018 - 2030)

Biotech

o Biotech APIs Market, By Type (Revenue, USD Billion, 2018 - 2030)

o Generic APIs

o Innovative APIs

o Biotech APIs Market, By Product (Revenue, USD Billion, 2018 - 2030)

o Monoclonal Antibodies

o Hormones

o Cytokines

o Recombinant Proteins

o Therapeutic Enzymes

o Vaccines

o Blood Factors

Synthetic

o Synthetic APIs Market, By Type (Revenue, USD Billion, 2018 - 2030)

o Generic APIs

o Innovative APIs

 

Type of Manufacturer Outlook (Revenue, USD Billion, 2018 - 2030)

Captive APIs

Merchant APIs

 

Type Outlook (Revenue, USD Billion, 2018 - 2030)

Generic APIs

Innovative APIs


Application Outlook (Revenue, USD Billion, 2018 - 2030)

Cardiovascular Diseases

Oncology

CNS and Neurology

Orthopedic

Endocrinology

Pulmonology

Gastroenterology

Nephrology

Ophthalmology

Others

Key Companies & Market Share Insights

Some of the leading players operating in the active pharmaceutical ingredients market include AbbVie, Inc., Novartis AG, Regeneron Pharmaceuticals, Inc., and Eli Lilly and Company. Key players are using existing customer bases in the region to prioritize maintaining high-quality standards and gain high market size access. This marketing strategy is useful for brands that have already built trust in the market. These players are heavily investing in advanced technology and infrastructure, allowing them to efficiently process & analyze a large volume of samples. Moreover, companies undertake various strategic initiatives with other companies and distributors to strengthen their market presence.

Evonik, CARBOGEN AMCIS, and Pharmazell, are some of the emerging market participants in the ophthalmic drugs market. These companies focus on achieving funding support from government bodies and healthcare organizations aided with novel product launches to capitalize on untapped avenues. 

Key Active Pharmaceutical Ingredients Companies:

Dr. Reddy’s Laboratories Ltd.

Sun Pharmaceutical Industries Ltd.

Teva Pharmaceutical Industries Ltd.

Cipla Inc.

AbbVie Inc.

Aurobindo Pharma

Sandoz International GmbH (Novartis AG)

Viatris Inc.

Fresenius Kabi AG

STADA Arzneimittel AG

Recent Developments

In August 2023, EUROAPI announced its deal to acquire BianoGMP to enhance its CDMO expertise in oligonucleotide manufacturing, which is a high-growth industry.

In July 2023, Teva Pharmaceutical Industries Ltd. designed a new strategy for development with potential sale of its API unit on the table. The API manufacturing facility is worth USD 2 billion.

In June 2023, Lonza acquired Synaffix to improve its ADC services portfolio.

In April 2023, Eli Lilly announced an investment of USD 1.6 billion in the U.S.-based LEAP Innovation Park. This brings the total investment to USD 3.7 billion to manufacture complex APIs for products such as genetic medicine.

In February 2023, Lonza completed the manufacturing of its facility in Switzerland. The company enhanced its capacity for its High Potent Active Pharmaceutical Ingredient (HPAPI) manufacturing facility.

In January 2023, Sterling Pharma Solutions acquired an API manufacturing facility from Novartis in Ringaskiddy, Ireland.

Order a free sample PDF of the Active Pharmaceutical Ingredients Market Intelligence Study, published by Grand View Research. 

 

Active Pharmaceutical Ingredients Market Business Prospects And Forecast Report 2024-2030
disclaimer

What's your reaction?

Comments

https://timessquarereporter.com/public/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!

Facebook Conversations