Global Active Pharmaceutical Ingredients Market Size & CAGR (2021 to 2026)
As per our report, the global active pharmaceutical ingredients market size was valued at USD 340.16 billion for 2021 and is poised to reach 461.6 USD billion by the end of 2026, growing at a 6.3% CAGR during the forecast period.
Impact of COVID-19 on the global active pharmaceutical ingredients market:
The covid-19 had a huge impact on the pharmaceutical and biotech industries. During the COVID-19 outbreak, widespread lockdowns and transportation restrictions resulted in production shutdowns in almost every global pharmaceutical industry sector. The scarcity of raw materials caused by production halts and labor shortages during the COVID-19 outbreak has brought the pharmaceutical industry to the forefront of global attention. During such uncertain and demanding times, these closures have had an impact on global supply. As the real influence of the COVID-19 outbreak on pharma supply chains becomes clear, logistics managers should diversify their sourcing locations, seek alternative transportation capacity for cargo movement, and rethink their production and supplying network. Due to supply constraints, India is investing in domestic manufacturing. As the COVID-19 pandemic spreads, the global pharmaceutical supply chain is likely to be jeopardized in the coming months. As factories struggle to meet global API demands, pharmaceutical firms may face further delays in delivering key ingredients until operations at the plants resume fully.
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KEY DRIVING FACTORS:
Growing number of API drugs, R&D investments, and new drug development are driving factors in the API market.
The PI market is expected to grow at a 5% annual rate, reaching approximately $219 billion by 2023. ASIA produces 50% of the global supply of APIs and is expected to grow faster than the overall market growth rate. In addition, APIs are becoming more popular as a result of increased domestic sales and exports.
Over the last two decades, both R&D spending and the launch of new drugs have increased. In 2019, the pharmaceutical industry spent $83 billion on R&D. Pharmaceutical R&D encompasses all stages. However, over the last few years, significant advances in pharmaceutical R&D have begun to alter the R&D landscape.
The rising prevalence of chronic diseases and the increasing adoption of orphan drugs are driving factors in the API market.
Chronic diseases and multimorbidity are common, and their prevalence is expected to rise in the coming years is boost the global API market. According to WHO, chronic diseases (CDs) kill 41 million people worldwide each year, accounting for 71% of all deaths. CVDs cause the majority of CD deaths (17.9 million per year), followed by respiratory diseases (4.1 million), cancers (9.3 million), and diabetes (1.5 million). About 77% of CD deaths occur in low- and middle-income countries.
GARD has received information from the FDA on orphan products/drugs, treatments approved for rare diseases. Around 400 million people worldwide are affected by rare diseases when a disease affects fewer than 200,000 people in the United States at any given time or fewer than 1:2,000 people in Europe.
Global biopharmaceutical industry production is increasing globally, which is expected to reflect in the growth of the global API market.
The biopharmaceutical industry is one of the fastest-growing segments of the pharmaceutical industry. The rapid adoption of biosimilars is one of the main reasons the biopharma market is becoming more competitive. Biopharmaceuticals are booming and growing as a global high-tech biotechnology industry. However, the introduction of these innovative and novel biopharmaceuticals and their transformative potential has upset the industry’s interest.
RESTRAINING FACTORS:
However, unfavorable drug pricing policies in various countries, high manufacturing costs, fierce competition among existing players, and stringent regulatory policies are limiting factors for the growth of the global active pharmaceutical ingredients market. In addition, the commercialization of synthetic biology technology has proven to be extremely difficult for players due to its broad range of applications.
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KEY MARKET INSIGHTS:
- Based on the type, in 2020, the innovative APIs segment had the largest market share of 65.05%.
- Based on the application, in 2020, the cardiovascular diseases segment had the highest revenue share of 21.4%.
- Geographically, North America had the highest revenue share (39.5 percent) in 2020 and is expected to maintain this position throughout the forecast period.
- The global active pharmaceutical ingredients market is fiercely competitive. The leading companies in the market are Pfizer Inc., Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc, Sun Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Teva Pharmaceuticals Industries Ltd., Merck KGaA, Boehringer Ingelheim International GmbH, AbbVie, Inc., Bayer AG, and Novartis AG. Despite the growing market, an excess of small producers specializing in manufacturing niche APIs has resulted in more intense competition. As a result, the API market is rapidly expanding. China will account for 30% of the global generic API merchant market by next year.
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Recent Market Developments:
- In Feb 2020, Sanofi will launch a new API producer in Europe, which will produce and market active pharmaceutical ingredients (API) for the pharmaceutical industry.
- In Dec 2019, AbbVie’s API assets were acquired by Alkem Labs.
- In May 2019, GSK’s complex API site was acquired by Thermo Fisher.
SEGMENTS IN THE REPORT:
By Type of Manufacturing Process:
- Captive Manufacturing
- Contract Manufacturing
By Type of Synthesis:
- Synthetic
- Biotech
By API Formulation:
- Generic API
- Innovative API
By Application:
- Cardiovascular Diseases
- Oncology
- Neurological Disorders
- Orthopedic Disorders
- Respiratory
- Gastrointestinal Disorders
- Urology
- Others
By Molecule:
- Large Molecule
- Small Molecule
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
KEY MARKET LEADERS PROFILED IN THIS REPORT:
- Sanofi
- Bayer AG
- Pfizer Inc.
- Hoffmann-La Roche AG
- Abbott Laboratories
- Merck & Co., Inc.
- Boehringer Ingelheim GmbH
- GlaxoSmithKline Plc (GSK)
- Novartis AG
- Eli Lilly and Company
- Teva Pharmaceutical Industries Ltd.
BROWSE REGIONAL REPORTS:
- S. Active Pharmaceutical Ingredients Market
- Europe Active Pharmaceutical Ingredients Market
- APAC Active Pharmaceutical Ingredients Market
- Latin America Active Pharmaceutical Ingredients Market
- MEA Active Pharmaceutical Ingredients Market
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