Active Pharmaceutical Ingredient Market: Segmented By Type (Innovative and Generic); By Type of Synthesis (Synthetic and Biotech); By Application (Communicable Diseases, Oncology, Cardiovascular Diseases, Diabetes, Pain Management, Chronic Respiratory Diseases, and Other) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Active Pharmaceutical Ingredient to surpass USD 336 billion by 2030 from USD 188 billion in 2020 at a CAGR 6.23% in the coming years, i.e., 2021-30.
Active Pharmaceutical Ingredients (API) are chemicals that are used in the production of pharmaceuticals. The APIs are present biologically in the drug and are responsible for the effects it causes. Any medicine is made up of two parts: the active pharmaceutical ingredient (API) and the excipient. The excipient is the drug's inactive ingredient that serves as a carrier for the API. E.g., paracetamol is the API and the binding agent (such as starch) is the excipient in a paracetamol tablet. APIs are used to root pharmacological activity or other direct effects for diagnosis, cure, mitigation, treatment, or prevention of disease, according to the Food and Drug Administration (FDA).
Global Active Pharmaceutical Ingredient Market is expected to project a notable CAGR of 6.23% in 2030.
In addition, favorable government policies for API production, coupled with changes in geopolitical situations, are bolstering the market growth.
Innovative segment to grow with the highest CAGR during 2020-30
Global Active Pharmaceutical Ingredient Market is segmented by type into Innovative and Generic. Innovative is expected to grow with the highest CAGR during the forecast period Increased FDA approvals for new molecular entities, the high cost of innovative APIs compared to generic drugs, and the innovator API companies' increased emphasis on R&D are all contributing to the innovative APIs segment's growth.
Oncology segment to grow with the highest CAGR during 2020-30
Global Active Pharmaceutical Ingredient is divided by Application into Communicable Diseases, Oncology, Cardiovascular Diseases, Diabetes, Pain Management, Chronic Respiratory Diseases, and Other. Oncology segment is expected to grow with the highest CAGR during the forecast period due to sedentary lifestyles and the growing prevalence of cancer. Besides, escalating demand for highly potent APIs (HPAPIs) for the treatment of cancer is boosting the segment growth.
Rising prevalence of chronic diseases
Chronic diseases such as diabetes, coronary artery disease, chronic obstructive pulmonary disease (COPD), asthma, hepatitis, arthritis, and cancer have risen dramatically over the last few decades. This is due to rise in the global geriatric population, shifting habits, and dietary shifts as a result of rapid urbanization. According to the International Diabetes Federation, 463 million people were diagnosed with diabetes worldwide in 2019. Furthermore, by 2030, the number of new cancer cases is projected to increase to 23.6 million a year. Aside from cancer, a variety of other diseases are becoming more common.
Growing Biosimilar market
The rising occurrence of various diseases, the rising number of off-patent biologic drugs, promising results in ongoing biosimilar clinical trials, and the demand for biosimilars in various therapeutic applications are the key factors propelling the biosimilars market growth. Biosimilars are generic variants of proprietary biologic drugs that do not have to meet the same strict regulatory criteria as branded biologic drugs (making them cost-effective as compared to patented biologics).
Stringent government regulations
Strict regulatory guidelines are estimated to hamper the growth of Global Active Pharmaceutical Ingredients market. Stringent global regulatory policies on quality assessments of active pharmaceutical ingredients production, facility registration, strengthened cGMP guidelines tightening surprise inspection regimes, and increased supply chain security concerns in developing countries impacted the cost of final active pharmaceutical ingredients products.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Active Pharmaceutical Ingredient Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Active Pharmaceutical Ingredient in North America held the largest market share of XX.X% in the year 2020. The growth is attributed to the rising occurrence of preventable chronic diseases, increasing government emphasis on generic drugs, escalating demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs.
Global Active Pharmaceutical Ingredient Market is further segmented by region into:
Active Pharmaceutical Ingredient Market Segments:
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