Players In The Pharmaceutical API Manufacturing Market Are Developing AI-Based Platforms For The Manufacturing Of APIs

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Sep 08, 2022, 11:00 ET

The Business Research Company's pharmaceutical API manufacturing market research report expands on key drivers, trends, and growth opportunities in the market.

LONDON , Sept. 8, 2022 /PRNewswire/ -- The use of artificial intelligence in API manufacturing is gaining popularity among the pharmaceutical API manufacturing market trends. Players in the API manufacturing market are deploying artificial intelligence (AI) for the continuous manufacturing of critical APIs necessary for producing crucial small-molecule drugs. Artificial intelligence is a machine-based learning which makes use of human intelligence functionalities like reasoning and problem-solving abilities to obtain insights and provide useful information. Companies in the market are developing an AI-based technology platform for the manufacturing of APIs. For example, in May 2020, Quartic.ai, a US-based industrial data and AI technology company, and Bright Path Labs, a US-based pharmaceutical manufacturing technology company, collaborated to develop an AI-based continuous manufacturing platform for the manufacturing of active pharmaceutical ingredients and other small-molecule drugs using Bright Path Labs' continuous bioreactor and the Quartic.ai smart manufacturing technology. The AI technology provided by Quartic.ai will help speed up the design, validation, and approval of molecules.

The global pharmaceutical API manufacturing market size is expected to grow from $179.05 billion in 2021 to $195.29 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The pharmaceutical API manufacturing market growth is expected to reach $250.66 billion in 2026 at a CAGR of 6.4%.

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The Rising Prevalence Of Cancer Is Expected To Drive The Growth Of The Pharmaceutical API Manufacturing Market

The rising prevalence of cancer is expected to drive the growth of pharmaceutical API manufacturing market during the forecast period. Cancer is a disease in which some of the body's cells grow uncontrollably and spread to other parts of the body. Drugs that specifically target cancer cells while doing little to no damage to healthy cells frequently require expensive HPAPIs. For example, according to the American Cancer Society, a US-based voluntary organization, an estimated 609,360 people in the United States will die from cancer in 2022, corresponding to almost 1700 deaths per day. Therefore, the rising prevalence of cancer is expected to drive the growth of the pharmaceutical API manufacturing market during the forecast period.

Huge Manufacturing Costs And Risk Of Failure – Major Restraints For The Pharmaceutical API Manufacturing Market

The huge costs involved in new API and drug development with a high risk of failure are expected to limit the growth of the Pharmaceutical API manufacturing market. The development of new drugs includes many stages, such as drug discovery, characterization, preclinical trials, bio-analytical testing, and clinical trials. The first stages involve a lot of investment and expenditure, yet the chance of success is low. Therefore, the prolonged process of development with a high risk of failure acts as a restraining factor for the Pharmaceutical API manufacturing market's growth.

Pharmaceutical API Manufacturing Market Segmentation

The global pharmaceutical API manufacturing market is segmented -

By Therapy Area: Cardiovascular Disorders, Metabolic Disorders, Neurological Disorders, Oncology, Musculoskeletal Disorders, NSAIDs, Others
By API Type: Chemical API, Biological API
By Drug Type: Innovative Drugs, Generic Prescription, Over-The-Counter (OTC) Drugs

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