Active Pharmaceutical Ingredient (API) Market to Surpass US$ 326.7 Billion by 2028, Says Coherent Market Insights

SEATTLE, Dec. 9, 2021 /PRNewswire/ -- According to Coherent Market Insights, the global active pharmaceutical Ingredient (API) market is estimated to be valued at US$ 206.0 billion in 2021 and is expected to exhibit a CAGR of 6.8% during the forecast period (2021-2028).

Key Trends and Analysis of the global active pharmaceutical Ingredient (API) Market:

Increasing funding initiatives is expected to drive the growth of active pharmaceutical Ingredient (API) market. For instance, in May 2020, the U.S. Department of Health and Human Services (HHS) announced that it will provide a funding of US$ 354 million to Phlow Corporation, a pharmaceutical company, under a four-year contract to  produce the active pharmaceutical Ingredient (APIs) needed for medications to treat patients with COVID-19 and related illnesses. Similarly, in April 2021, the Chemicals and Fertilizers Ministry announced that the Government of India will invest around US$ 47 million to set up 16 manufacturing plants for Active Pharmaceutical Ingredient (API) in the country. The commercial production of these plants is projected to commence on April 1, 2023.

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Key Market Takeaways:

The global active pharmaceutical Ingredient (API) market is expected to exhibit a CAGR of 6.8% during the forecast period, owing to increasing facility expansion of the major market players to develop APIs. For instance, in February 2020, Sanofi, a pharmaceutical company developed a new major leading European manufacturing and supply capacities for production and marketing of active pharmaceutical Ingredient (API). This project consists of producing a separate company which combines with Sanofi's API commercial and development activities with six of its European API production sites such as Brindisi, Frankfurt Chemistry, Haverhill, St Aubin les Elbeuf, Ujpest, and Vertolaye.

Among product type, low potent APIs segment is expected to account for largest market share in the global active pharmaceutical Ingredient (API) market in 2021 due to lower cost of production of bulk API, less technical hindrance for low potent APIs, rising R&D expenses by biopharmaceutical companies, and increasing number of contract development and manufacturing organizations (CDMO). Low potent APIs product type include APIs, which are effective at higher dosage levels compared to high potent APIs. They are traditional APIs, which are used majorly for production of branded as well as generic drugs.

Among molecular type, small molecules segment is estimated to account for largest market share in the global active pharmaceutical Ingredient (API) market in 2021, owing to its high diffusion property through biological barriers and fluids due to small size of molecules. For instance, in April 2021, according to Nature Biomedical Engineering, chemotherapeutics, antibiotics, and steroids are examples of small-molecule medicines (900 daltons) that are discovered, manufactured, and utilized as pharmaceuticals. Small-molecule medicines, owing to their small size, may swiftly diffuse through biological fluids, through numerous biological barriers, and through cell membranes.

On the basis of formulation, oral segment is estimated to account for largest market share in the global active pharmaceutical Ingredient (API) market in 2021, owing to increasing pipeline drugs, which constitute oral Ingredient, increasing approval of new molecules with oral dosage forms, relatively easy manufacturing, and chemical stability. For instance, in July 2020, Glenmark Pharmaceuticals, an India- based pharmaceutical company commenced a Post Marketing Surveillance (PMS) study on FabiFlu, an antiviral medicine to closely monitor the efficacy and safety of the drug in 1,000 patients that are prescribed with the oral antiviral, as part of an open label, multicenter, single arm study.

On the basis of application, the cardiovascular diseases segment is expected to account for largest market share in the active pharmaceutical Ingredient (API) market over the forecast period, owing to the high prevalence of cardiovascular diseases. For instance, in June 2021, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) were the leading cause of death globally. An estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths and 85% of deaths were due to heart attack and stroke.

Among regions, North America is expected to hold dominant position in the global active pharmaceutical Ingredient (API) market growth during the forecast period. The expanding cancer epidemiology, as well as increasing incidence of other chronic diseases are stimulating R&D efforts and the U.S. FDA approvals, which are expected to drive the market growth. For instance, in May 2020, the U.S. Food and Drug Administration (FDA) approved atezolizumab (TECENTRIQ), manufactured by Genentech Inc., in North America. It is used for the first-line treatment of adult patients with metastatic non-small cell lung cancer (NSCLC).

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Competitive Landscape:

Key players operating in the global active pharmaceutical Ingredient (API) market include Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Dr. Reddy's Laboratories Ltd., Novartis AG, Mylan N.V., Amneal Pharmaceuticals LLC, Lonza Group, Lupin Limited, Fresenius Kabi, Hikma Pharmaceuticals, Cipla Limited, Glenmark Pharmaceuticals Limited, Sun Pharmaceutical Industries Ltd., Endo International plc, Aurobindo Pharma Limited, Apotex Inc, Taro Pharmaceutical Industries Ltd, Stada Arzneimittel AG, Krka Pharmaceuticals, CordenPharma International, Evonik Industries AG, and Biological E. Limited.

Market Segmentation:

Global Active Pharmaceutical Ingredient (API) Market, By Product Type:

• Low Potent APIs
• High Potent APIs

Global Active Pharmaceutical Ingredient (API) Market, By Molecular Type:

• Small Molecules
• Large Molecules

Global Active Pharmaceutical Ingredient (API) Market, By Formulation:

• Oral
• Topical
• Injectable
• Drops

Global Active Pharmaceutical Ingredient (API) Market, By Application:

• Diabetes
• Oncology
• Cardiovascular
• CNS
• Analgesics
• Ophthalmic
• Respiratory
• Dermatology
• Others

Global Active Pharmaceutical Ingredient (API) Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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SOURCE Coherent Market Insights