Active Pharmaceutical Ingredients Market Analysis
Active Pharmaceutical Ingredients Market is projected to reach US$ 212.12 billion in 2023 and is expected to reach US$ 377.05 billion by 2032, growing at a CAGR of % from 2024 to 2032.
The active pharmaceutical ingredient (API) is the key biologically active component in pharmaceutical products, responsible for their therapeutic effects. APIs are either produced through chemical synthesis or extracted from natural sources, and they play a critical role in the global pharmaceutical supply chain, serving as the foundation for drug development and production. With the pharmaceutical industry moving toward more advanced treatments and innovative delivery systems, there is an expected increase in demand for sophisticated APIs.
Request a free sample copy of the report: https://www.renub.com/active-pharmaceutical-ingredients-market-p.php
The increasing prevalence of chronic diseases like cardiovascular disorders, diabetes, and cancer fuels demand for APIs used in their treatment medications.
The increasing prevalence of chronic diseases such as cardiovascular disorders, diabetes, and cancer is a significant driver of demand for Active Pharmaceutical Ingredients (APIs) used in their treatment medications. As these diseases become more prevalent globally, pharmaceutical companies require reliable and effective APIs to formulate medications that can manage symptoms, slow progression, or provide a cure. APIs serve as the core components in pharmaceutical formulations, ensuring the efficacy and safety of treatments. This trend not only underscores the critical role of APIs in healthcare but also highlights the ongoing need for innovation and development in pharmaceutical manufacturing to meet the growing demand for effective therapies addressing chronic health conditions.
Advances in biotechnology, such as biologics and biosimilars development, drive growth in specialized API demand.
Advances in biotechnology, particularly the development of biologics and biosimilars, are driving significant growth in the Active Pharmaceutical Ingredient (API) market. Biologics, which are derived from living organisms, and biosimilars, which are highly similar versions of already approved biologics, require specialized APIs due to their complex manufacturing processes and unique molecular structures. These APIs are essential for ensuring the efficacy, safety, and stability of biologic and biosimilar medications. The increasing adoption of biologics and biosimilars for treating various diseases such as cancer, autoimmune disorders, and infectious diseases is expanding the demand for these specialized APIs. This trend underscores the critical role of biotechnology advancements in shaping the API market landscape and meeting the evolving healthcare needs of patients worldwide.
The global expansion of the generic drug market, driven by cost-effectiveness and patent expirations of branded drugs, boosts demand for APIs in generic formulations.
The global expansion of the generic drug market is significantly driven by cost-effectiveness and the expiration of patents on branded drugs, which subsequently increases demand for Active Pharmaceutical Ingredients (APIs) used in generic formulations. Generic drugs, offering comparable quality at lower prices than branded counterparts after patent protections expire, appeal to healthcare systems, insurers, and patients seeking affordable treatment options. APIs serve as the essential chemical compounds in generic medications, ensuring therapeutic efficacy and compliance with regulatory standards. As governments and healthcare providers worldwide strive to contain rising healthcare costs without compromising patient care, the demand for APIs in generic formulations continues to grow. This trend underscores the pivotal role of APIs in facilitating access to essential medicines and driving market expansion within the global pharmaceutical industry.
India and China have emerged as unrivaled giants in the API market
India and China are major players in the API production industry due to their cost-effective capabilities. Their lower manufacturing costs, lenient environmental regulations, and cost-effective labor make them attractive alternatives to the United States. Additionally, they have robust testing capabilities, research opportunities, and favorable regulatory audits, giving them a competitive edge in developing markets. This creates opportunities for the industry to enhance efficiency and productivity by scaling up production in these markets. In July 2022, Piramal Pharma Limited launched a new API plant in Aurora, Ontario.
Active Pharmaceutical Ingredients (API) Industry Overview
The top companies in the global active pharmaceutical ingredients (API) industry are Pfizer, Inc., Novartis International AG, Sanofi, Boehringer Ingelheim, Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., ELI Lilly and Company, GlaxoSmithKline, Merck Co., Inc., and Abbvie Inc.
Active Pharmaceutical Ingredients (API) Industry News
- In December 2023, Novo Nordisk announced plans to build a new active pharmaceutical ingredients facility in Kalundborg, Denmark, to expand its manufacturing capacity.
- In October 2023, IQuest Enterprises signed a binding contract to acquire Viatris's Indian active pharmaceutical ingredients (API) business.
- In October 2023, Clariant expanded its pharmaceutical ingredient solutions portfolio to include three new VitiPure® excipients designed to facilitate the development of safe and efficient medications, including sensitive formulations like mRNA vaccines and biologic medications.
- In September 2023 - Glenmark Pharmaceuticals and Nirma Limited entered into a share purchase agreement for Glenmark Lifesciences.
- In July 2023 - Teva is considering selling a $2 billion unit of active ingredients.
Drug Type – Market is broken up into 2 viewpoints:
- Innovative
- Generic
Synthesis – Market is broken up into 2 viewpoints:
- Synthetic
- Biotech
Type of Manufacturer – Market is broken up into 2 viewpoints:
- Captive
- Merchant
Application – Market is broken up into 11 viewpoints:
- Cardiovascular Diseases
- Oncology
- Central Nervous System and Neurology
- Orthopedic
- Endocrinology
- Pulmonology
- Gastroenterology
- Nephrology
- Ophthalmology
- Other Applications
Countries – Market of 25 Countries Covered:
- North America
1.1 United States
1.2 Canada
- Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
- Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
- Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
- Middle East Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
- Pfizer, Inc.
- Novartis International AG
- Sanofi
- Boehringer Ingelheim
- Bristol-Myers Squibb
- Teva Pharmaceutical Industries Ltd.
- ELI Lilly and Company
- GlaxoSmithKline0
- Merck Co., Inc.
- Abbvie Inc.
Related Reports
About the Company:
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.
Contact Us:
Renub Research
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Email: info@renub.com
LinkedIn: https://in.linkedin.com/company/renub-research
Website: https://www.renub.com/
