Active Pharmaceutical Ingredients (API) Market to Reach USD 349.2 Billion By 2030; Favorable Government Regulations & Policies to Stimulate API Production Reflects Strong Growth: The Brainy Insights

The introduction of efficient treatments and ongoing clinical tests will create lucrative opportunities for the active pharmaceutical ingredient market during the forecast period. The market for active pharmaceutical ingredients (API) is increasing rapidly in North America due to rising healthcare expenditures and well-established healthcare infrastructure in countries like the US. North America region emerged as the largest market for the global Active pharmaceutical ingredients (API) market, with a 38% share of the market revenue in 2022.

Newark, Feb. 27, 2023 (GLOBE NEWSWIRE) — The brainy Insights estimates that the USD 211.0 billion in 2022 Active Pharmaceutical Ingredients (API) market will reach USD 349.2 billion by 2030. In just eight years, Active pharmaceutical ingredients have a rising prevalence of numerous chronic illnesses and the use of cutting-edge technologies in the production of active medicinal substances. In addition, Active pharmaceutical ingredients market growth may also be influenced by rising disease awareness and education and the patent expiration of branded APIs.

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Key Insight of Active pharmaceutical ingredients (API) Market

North America to account for the largest market size in 2022.

North America held the largest market share in 2022. Key factors favouring the growth of the active pharmaceutical ingredients (API) market in North America because of the US government’s current political and trade initiatives to increase import duties and levies. In addition, The Food and Drug Administration (FDA) has increased the costs for new drug approval applications and the frequency of random inspections of different contract manufacturing facilities situated outside of the United States. These changes were made to ensure that the United States market receives high-quality products.

The captive API segment is expected to augment the Active pharmaceutical ingredients (API) market during the forecast period.

The captive AP segment held the largest market share in 2022 and is expected to continue during the forecast period, as raw materials are easy to get. Furthermore, increased investments of market players in active pharmaceutical ingredients are expected to drive the segment’s growth.

The cardiology segment market size is 52.7 billion in 2022

The cardiology segment dominated the market with a USD 52.7 billion revenue in 2022. The segment is expected to grow at the highest CAGR during the forecast period. Due to the large population using various CVD medications due to the high prevalence of cardiovascular disorders, the cardiology segment commands a sizeable market share. Cardiovascular diseases (CVD) continue to be the main cause of morbidity and the leading cause of mortality in Europe, according to the European Society of Cardiology’s 2019 Statistics.

The synthesis segment dominated the market, with a market share of around 56% in 2022.

The synthesis segment is anticipated to grow at the highest CAGR in the forthcoming years. The segment growth could be attributed to the more straightforward processes needed for the synthesis of these chemicals as well as the improved accessibility of raw materials.

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Advancement in market

In April 2020, Boehringer Ingelheim purchased Northern Biologics. This acquisition expanded the oncology product line of Boehringer Ingelheim.

In October 2020, the highly potent API laboratory, located in Boulder, Colorado, will be finished, CordenPharma International stated. The company’s purpose was to satisfy client demand, and the new laboratory in Colorado will be involved in the production and commercialization of APIs. As a result, the company’s product portfolio in APIs has improved, and future revenue growth is anticipated.

Market Dynamics

Driver: Increase in chronic diseases

It is projected that the rising prevalence of chronic diseases will increase the demand for pharmaceutical treatments, which will fuel the growth of the market for active pharmaceutical ingredients during the forecast period. In addition, introducing new pharmaceutical and biological products, joint ventures, acquisitions, and geographic expansions are some strategic actions to maintain market stability.

Restraint: Highly Expensive

Various challenges, including stringent regulatory policies, drug price control regulations in several nations, and intense competition among established companies, hinder the industry’s growth. These issues pose significant obstacles that limit the industry’s expansion. However, despite these difficulties, the industry continues to evolve and adapt, constantly seeking new ways to overcome these challenges and achieve growth. For market growth and development, the industry must address these obstacles head-on and develop innovative solutions that can help overcome them.

Opportunity: Increasing R&D

There will also be new opportunities for the market’s growth rate due to an increase in research and development activities and expenditures by both public and private entities. The development of effective therapies and continuing clinical trials will also open up lucrative opportunities for the active pharmaceutical ingredient (API) market throughout the course of the forecast period. Future advancements in medical technology as well as a sizable amount of unmet demand for current treatments will accelerate the growth rate of the active pharmaceutical ingredient (API) market.

Challenge: Shortage of Demand

The global active pharmaceutical ingredients (API) market faces a decrease in demand due to the widespread availability of counterfeit and low-quality pharmaceutical products. The presence of these fake drugs not only undermines consumer trust in the market but also poses a significant threat to public health. As a result, the demand for simple and high-quality APIs has declined, affecting the growth of the global API market. Industry players must take action and establish measures to combat the production and distribution of fake pharmaceuticals to revive demand and secure the future of the API market.

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Some of the major players operating in the Active pharmaceutical ingredients (API) market are:

● Novartis AG
● Sanofi
● Pfizer Inc.
● Johnson & Johnson Private Limited
● Abbott
● Teva Pharmaceutical Industries Ltd.
● Bausch Health Companies Inc.
● UCB S.A.
● Sunovion Pharmaceuticals Inc.
● GW Pharmaceuticals plc.
● AstraZeneca
● GlaxoSmithKline plc
● H. Lundbeck A/S
● Takeda Pharmaceutical Company Limited

Key Segments cover in the market:

By Business Mode:

● Captive API
● Merchant API

By Synthesis Type:

● Synthetic
● Biotech

By Application:

● Cardiology
● Pulmonology
● Oncology
● Ophthalmology
● Neurology
● Orthopaedic
● Other

By Region

● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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