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Active Pharmaceutical Ingredients (API) Market: Introduction
According to the report, the global active pharmaceutical ingredients (API) market was valued at US $ 168 billion in 2020 and is expected to grow at a CAGR of approximately 6% from 2021 to 2031. An active pharmaceutical ingredient (API) is any substance. or mixture of substances used in a finished pharmaceutical product (FPP) which is intended to provide pharmacological action or to have a direct impact on the diagnosis, remedy, alleviation, therapy or prevention of a disease, or to have a direct effect on repairing, correcting or modifying physiological functions in humans. The growth of the global active pharmaceutical ingredients (APIs) market can be attributed to the increasing incidence and increasing prevalence of various diseases; and increased funding to government organizations and large corporations for the development of active pharmaceutical ingredients (APIs).
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North America dominated the global active pharmaceutical ingredients (API) market in 2020 and the trend is expected to continue during the forecast period. The presence of major market players, significant healthcare spending and the early availability of new products are stimulating the market in North America. In addition, a large patient base in the United States and the increasing number of active pharmaceutical ingredient (API) suppliers are propelling the market in the country.
Asia-Pacific is expected to be the second largest market for active pharmaceutical ingredients (APIs) during the forecast period. The region’s market is expected to grow at a high CAGR during the forecast period.
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Increasing incidence and prevalence of diseases, increasing entry of various companies, and increasing launch of new APIs to boost the global market
The active pharmaceutical ingredients (API) market is expected to grow at a rapid rate during the forecast period, owing to the increase in the cases of various chronic diseases. Rising incidence of chronic diseases is driving the global active pharmaceutical ingredients market. Over the past decades, the incidence of chronic diseases including diabetes, chronic obstructive pulmonary disease (COPD), coronary heart disease, arthritis, asthma, hepatitis and cancer has increased significantly in the major regions of the world. This could be attributed to the increase in the geriatric population across the world (by 2050, more than 20% of the world population is expected to be over 65), changing lifestyles and dietary changes. due to rapid urbanization.
According to the International Diabetes Federation, 463 million people worldwide were diagnosed with diabetes in 2019. In addition, the number of new cancer cases per year is expected to reach 23.6 million by 2030. Besides cancer, a number of other diseases have shown increased prevalence rates. Increased prevalence of cancer, cardiovascular disease and diabetes; The increase in sedentary lifestyle and increase in the geriatric population are the main drivers of the active pharmaceutical ingredients (API) market.
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Increased launch of various APIs is boosting the global active pharmaceutical ingredients (API) market. For example, in 2018 Pfizer announced the launch of Retacrit, an Epogen biosimilar from Amgen for the treatment of anemia.
In-house manufacturing to dominate the global market
In terms of type of manufacturing, the global active pharmaceutical ingredients (API) market has been segmented into in-house manufacturing and contract manufacturing. The in-house manufacturing segment dominated the global active pharmaceutical ingredients (API) market in 2020 and the trend is expected to continue during the forecast period. Global players, such as Merck KGaA, prefer in-house API production. It is one of the main drivers of the segment. These players believe that in-house manufacturing controls the process from start to finish. It offers the flexibility to adapt as needed. This is especially useful when a business wants to react quickly to the market and make a consumer-led product change, as they don’t need to go through another business or rely on someone else. These factors are expected to drive the growth of the segment during the forecast period.
Labor costs make up the majority of the cost of any manufacturing process. Outsourcing of manufacturing eliminates the responsibility and costs of hiring the necessary staff to do the job properly. This is a major factor that is likely to drive the demand for contract manufacturing in the near future.
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Brand name or innovative prescription drugs will be very lucrative
Based on drug type, the global active pharmaceutical ingredients (API) market has been categorized into branded or innovative prescription drugs, generic prescription drugs, and over-the-counter drugs. The branded or innovative prescription drug segment accounted for a significant share of the global active pharmaceutical ingredients (API) market in 2020. According to TMR Research, drug use continued to increase, with people in the United States. filling 5.8 billion prescriptions in 2018, an increase of 2.7% from the previous year. Much of this was due to the greater number of patients receiving existing brand name drugs and using newly launched drugs.
Synthetic to be a very attractive API
In terms of API type, the global active pharmaceutical ingredients (API) market has been categorized into synthetic, biological, and plant extracts. The synthetic segment accounted for a significant share of the global active pharmaceutical ingredients (API) market in 2020. This can be attributed to greater availability of raw materials and easier protocols for the synthesis of these molecules.
Cardiovascular as a major application of API
On the basis of applications, the global active pharmaceutical ingredients (API) market has been divided into anti-infective, cardiovascular, neurological, metabolic, respiratory, oncological, and others. The cardiovascular segment accounted for a significant share of the global active pharmaceutical ingredients (API) market in 2020. Pharmacotherapy is a major treatment modality for cardiovascular disease. Hypertension and cardiovascular disease (CVD) are fairly common conditions and cause significant medical disability and death around the world. New classes of cardiovascular drugs would be effective in the treatment of hypertension and cardiovascular diseases and would decrease their socio-economic consequences. One of the main factors driving demand for APIs is approval of new drugs. These factors are expected to propel the segment over the forecast period.
High API usage in the pharmaceutical and biotechnology industry
In terms of end user, the global active pharmaceutical ingredients (API) market has been categorized into pharmaceutical and biotechnology industry, CRO, CMO, and others. The pharmaceutical and biotechnology industry segment accounted for a significant share of the global active pharmaceutical ingredients (API) market in 2020. A large number of pharmaceutical and biotechnology companies and their preference for in-house manufacturing of finished products are driving the segment. . Additionally, pharmaceutical companies are opening their own manufacturing plants in emerging markets instead of importing to sell products, which is boosting the segment.
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North America to Dominate Active Pharmaceutical Ingredient (API) Market
In terms of region, the global active pharmaceutical ingredients (API) market has been segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America dominated the global active pharmaceutical ingredients (API) market in 2020, followed by Asia-Pacific. Rising prevalence of lifestyle-related diseases and increasing healthcare spending are expected to drive the market in North America during the forecast period.
The active pharmaceutical ingredients (API) market in Asia-Pacific is expected to grow at a significant CAGR from 2021 to 2031. Supportive government initiatives, changing lifestyles leading to the development of diseases, increased investment in R&D and technological developments in processes drug manufacturing industry to boost the region’s market.
Active Pharmaceutical Ingredient (API) Market Competition Landscape
The global pharmaceutical active ingredients (APIs) market is fragmented in terms of the number of players. The major players operating in the global market are Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer, Inc., Novartis AG, Mylan NV, Lonza, WuXi AppTec Co., Ltd., Piramal Pharma Solutions, Hisun USA, Inc., Ipca Laboratories Ltd., AbbVie, Inc., Alembic Pharmaceuticals Limited, BASF SE, Biocon Ltd., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Cambrex Corporation, Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, and GlaxoSmithKline plc.
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