Global API Industry is Expecting Major Revenue Growth by 2025 - Exclusive Report by MarketsandMarkets™


Posted January 24, 2022 by mmvaidya01

This study involved four major activities in estimating the current size of the active pharmaceutical ingredients market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

 
According to the new market research report, "Active Pharmaceutical Ingredient (API) Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), By Product (Vaccines, Hormones), Drug (Otc, Rx), Application (Diabetes, Oncology, CVD) & Region - Global Forecast to 2025", The global active pharmaceutical ingredients market is projected to reach USD 248.3 billion by 2025 from USD 187.3 billion in 2020, at a CAGR of 5.8% during the forecast period.

Browse and in-depth TOC on ""Active Pharmaceutical Ingredient Market"
412 - Tables
39 - Figures
337 - Pages

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Growth Boosting Factors:

The rising drug R&D, the increasing incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals. On the other hand, unfavorable drug price control policies across various countries and high manufacturing costs are expected to restrain the growth of this market are the major factors driving the growth of this market.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the active pharmaceutical ingredients market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and market have been identified through extensive secondary research
# The revenues generated from the active pharmaceutical ingredients business of leading players have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

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Data Triangulation:

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

COVID-19 impact on the active pharmaceutical ingredients market

With the WHO declaring the COVID-19 outbreak a pandemic, a mix of established pharmaceutical and biopharmaceutical companies, as well as small startups, have stepped forward to develop treatments that target the infection. In just a few weeks, scientists found a list of molecules that target COVID-19. Currently, around 155 molecules are under clinical investigation, and 45 molecules are under preclinical development to be targeted against COVID-19. In this list, there are four promising drugs (Remdesivir, Chloroquine & Hydroxychloroquine, Lopinavir & Ritonavir, and Lopinavir with Ritonavir plus Interferon beta-1a) that have been repurposed for use against COVID-19.

On March 24, 2020, the WHO announced that it had initiated a global mega trial of the four most promising drugs against COVID-19. Countries are in a global race to develop and mass-produce an efficient vaccine to fight COVID-19. The economic and social burden of pandemics has prompted government bodies to increase funding for vaccine development on a global scale. According to the WHO, as of June 2020, there were over 140 vaccines in various stages of development. Of these, 13 are now in the human clinical trial stage, while others remain at the very early stages of preclinical testing. Increase in funding and research for development of pharmaceutical products will drive growth for the market. However, coronavirus outbreak has disrupted business and economic activities globally.in the first quarter of 2020 It is expected to have a short-term impact on the active pharmaceutical ingredients market to a certain extent.

North America was the largest regional market for active pharmaceutical ingredients market in 2019

The global active pharmaceutical ingredients market is segmented into North America, Europe, Asia, Latin America, and Rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and the Asia. The large share of North America in the global market is attributed to the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. However, the market in the Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to the low manufacturing costs, growth in the increase in disposable income, the high prevalence of lifestyle- and age-related diseases, and government efforts to reform healthcare industry.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags active pharmaceutical ingredient , active pharmaceutical ingredient market
Last Updated January 24, 2022