High Potency APIs /HPAPI Market Worth 26.84 Billion USD by 2023
PUNE, India, April 18, 2018 /PRNewswire/ --
According to a new market research report "High Potency APIs /HPAPI Market by Type (Innovative, Generic), Synthesis (Synthetic, Biotech, moAB, Vaccines, Recombinant Proteins), Manufacturer (Captive and Merchant), Therapy (Oncology, Glaucoma, Hormonal Imbalance) - Global Forecasts to 2023", published by MarketsandMarkets™, the global HPAPIs Market is expected to reach USD 26.84 Billion by 2023 from USD 17.72 Billion in 2018, at a CAGR 8.7%. The growth in this market is driven by factors such as increasing demand for oncology drugs, growing demand for antibody-drug conjugates, increasing focus of leading pharmaceutical companies on HPAPIs, advancements in HPAPI manufacturing technologies, and growing focus on precision medicine.
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The innovative HPAPIs segment to dominate the market in 2018
Based on type, the HPAPIs Market is segmented into innovative and generic HPAPIs. In 2018, the innovative HPAPIs segment is expected to account for the largest share of the market. The large share can be attributed to the increased investments of innovator companies in R&D, manufacture, marketing, and supply of innovative HPAPIs as the revenue generated from these molecules are considerably high.
Based on type of manufacturer, the captive manufacturers segment to dominate the market in 2018
On the basis of type of manufacturer, the HPAPIs Market is segmented into captive HPAPI and merchant HPAPI manufacturers. In 2018, the captive HPAPI manufacturers segment is expected to account for the largest share of the market. The large share of this segment is attributed to the preference of innovative companies to maintain in-house manufacturing facilities for economic benefits.
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The biotech HPAPIs segment is projected to grow at the highest CAGR during the forecast period.
On the basis of type of synthesis, the HPAPIs Market is categorized into synthetic and biotech HPAPIs. The biotech HPAPIs segment is expected to grow at the highest CAGR during the forecast period. Advances in biotechnology, growing demand for antibody-drug conjugates, growing demand due to their specificity in action, their similarity with the natural biological compounds, and significant growth in the demand for monoclonal antibodies are the major factors driving the growth of this market.
North America to dominate the HPAPIs Market in 2018
In 2018, North America is expected to account for the largest share of the market followed by Europe. Factors such growing incidence of cancer, increasing investments in cancer research, technological advancements in HPAPI manufacturing, growing CMOs market, constructive government reforms like the Patient Protection and Affordable Care Act, growing focus of leading pharmaceutical companies in the HPAPIs segment, and increasing demand for antibody-drug conjugates (ADCs) are responsible for the large share of North America in the global HPAPIs Market.
The HPAPIs Market is fragmented, with the presence of several large as well as emerging players. Prominent players in the HPAPIs Market include Pfizer (US), Novartis International AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva (Israel), Eli Lilly and Company (US), Merck (US), AbbVie (US), Mylan (US), and F. Hoffmann-La Roche (Switzerland). Players in this market are adopting various organic and inorganic strategies, such as agreements, collaborations, alliances, and partnerships; mergers and acquisitions; and expansions.
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