Date: Feb 2022
Active Pharmaceutical Ingredients Market worth USD 322.7 billion by 2030
The Market Statsville Group (MSG) publishes the new report on the "Active Pharmaceutical Ingredients Market by Business Mode (Captive API and Merchant API), by Synthesis Type (Synthetic and Biotech), by Type (Generic and Branded), by Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopedic, and Other Applications), by Region – Global Share and Forecast to 2030". The global active pharmaceutical ingredients market size registers a CAGR of 7.8% to grow USD 322.7 billion by 2030 from USD 177.0 billion in 2021. Biologics and biosimilar drugs have several advantages, including highly effective and potent action, fewer side effects, and the ability to cure diseases rather than merely treat the symptoms, significantly increasing the demand for these products. Several biopharmaceutical products improved the quality of life and reduced the death rates in patients with cancer, cystic fibrosis, HIV/AIDs, and rheumatoid arthritis. For instance, the previously available medicines for rheumatoid arthritis provided symptomatic cures but allowed the steady onset of the diseases. However, the biologicals are targeting the underlying causes of the diseases. Biologics/biosimilars provided an alternative to the previously less effective and sometimes unsafe treatments, allowing clinicians to tailor treatments to specific the medical problems experienced by each patient.
Global Active Pharmaceutical Ingredients Market Segmentation
The overall active pharmaceutical ingredients market has been segmented into the component, waste type, method, application, and region.
- By Business Mode (Captive API and Merchant API)
- By Synthesis Type (Synthetic and Biotech)
- By Type (Generic and Branded)
- By Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopedic, and Other Applications)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Synthetic, by synthesis type, hold the largest market share during the forecast period
The market is bifurcated into biotech and synthetic by synthesis type. The synthetic segment generated the highest revenue of 77.2% of the global active pharmaceutical ingredients market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. The active pharmaceutical ingredient (API) of medicine is the substance that exerts the therapeutic effect. Drugs are a wide range of substances classified as natural products, semisynthetic or synthetic, or biotechnological products.
Synthetic drugs are manufactured using many process steps that need to be coordinated as well. On the one hand, there is the need to use production lines flexibly, and on the other, cross-contamination of the different APIs must be avoided. It is increasingly important to utilize the capacities of production plants worldwide as efficiently as possible.
North America accounts for the largest market share
Based on the regions, the global active pharmaceutical ingredients market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 32.8% in the global active pharmaceutical ingredients market. The US leads the world in R&D spending on pharmaceuticals. The US has the largest market for bulk drugs and finished dosage formulations. The US market operates as a free economy designed to implement transparent trade practices and restrict anti-competitive practices.
Moreover, The Canadian API market is growing at a healthy pace, which can be attributed to the increasing adoption of biologicals and biosimilars, the increasing prevalence of chronic disorders, and a rising R&D expenditure, along with increasing sophistication in oncology drug research. Canada has the highest number of biotechnology companies, focusing on human health, making it a strong market in active pharmaceutical ingredients. In addition, according to “Statistics Canada,” around 31% of the life science GDP comes from R&D activities.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the active pharmaceutical ingredients market. It also consists of leading companies such as Pfizer Inc., Novartis AG, BASF SE, Aurobindo Pharma, Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd, Lupin Ltd., Viatris, Boehringer Ingelheim GmbH, and Sun Pharmaceutical Industries Ltd.
Browse complete report: https://www.marketstatsville.com/active-pharmaceutical-ingredients-market
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