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Active Pharmaceutical Ingredients (API) Market Size Will Anticipated to Touch US$ 331.3 Billion, Growing at CAGR of 6.4% by 2031 | TMR Research
Active Pharmaceutical Ingredients (API) Market
Active Pharmaceutical Ingredients (API) Market (활성 약제 성분(API) 시장) is expected to reach a market value of US$ 331.3 Bn in 2031, expanding at a CAGR of 6.4% from 2021 to 2031.
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Overview of Active Pharmaceutical Ingredients (API) Market
The global API market is segmented by type (innovative APIs, generic APIs), synthesis (synthetic, biotech), type of manufacturer (captive, merchant), therapeutic application (cardiology, oncology, CNS, endocrinology, others), and geographical regions. The market has witnessed substantial growth due to the increasing prevalence of chronic diseases, rising demand for generic drugs, and advancements in biotechnology.
Top Companies:
Merck & Co., Inc.
Teva Pharmaceutical Industries Ltd.
Sanofi
Pfizer, Inc.
Novartis AG
Mylan N.V.
Lonza
WuXi AppTec Co., Ltd.
Piramal Pharma Solutions
Hisun USA, Inc.
Ipca Laboratories Ltd.
AbbVie, Inc.
Alembic Pharmaceuticals Limited
BASF SE
Biocon Ltd.
Boehringer Ingelheim International GmbH
Bristol-Myers Squibb Company
Cambrex Corporation
Dr. Reddy's Laboratories Ltd.
Eli Lilly and Company
GlaxoSmithKline plc.
Recent Developments in Active Pharmaceutical Ingredients (API) Market
Recent advancements and trends in the API market include:
Biotech APIs: Increasing development and utilization of biotech APIs, including monoclonal antibodies and recombinant proteins.
High Potency APIs (HPAPIs): Growth in demand for HPAPIs used in targeted cancer therapies and other specialized treatments.
Green Chemistry: Adoption of green chemistry principles in API synthesis to minimize environmental impact and enhance sustainability.
Outsourcing: Rising trend of pharmaceutical companies outsourcing API production to contract manufacturing organizations (CMOs) for cost efficiency and expertise.
Regulatory Compliance: Strengthening regulatory frameworks to ensure API quality, safety, and efficacy, leading to increased investments in compliance and quality control.
Drivers of Market Growth
Several factors contribute to the growth of the API market:
Prevalence of Chronic Diseases: Rising incidence of chronic diseases such as cancer, diabetes, and cardiovascular disorders driving demand for APIs.
Generic Drugs: Expiration of patents for blockbuster drugs leading to increased production of generic APIs.
Biopharmaceutical Innovations: Advancements in biopharmaceuticals and personalized medicine creating demand for specialized APIs.
Aging Population: Growing aging population requiring more medications and treatments.
R&D Investments: Significant investments in research and development by pharmaceutical companies to innovate and improve API synthesis.
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Conclusion
The API market is poised for significant growth, driven by the increasing prevalence of chronic diseases, demand for generic drugs, biopharmaceutical innovations, aging population, and R&D investments. Innovations in biotech APIs, HPAPIs, green chemistry, outsourcing, and regulatory compliance are enhancing the market's potential.
Market Segmentation
Manufacturer Type
In House Manufacturing
Contract Manufacturing
Drug Type
Branded or Innovative Prescription Drugs
Generic Prescription Drugs
Over-the-counter (OTC) Drugs
API Type
Synthetic
Biological
Plant Extracts
Application
Anti-infective
Cardiovascular
Neurological
Metabolic Disorder
Respiratory
Oncology
Others
End User
Pharmaceutical & Biotechnological Industry
CROs
CMOs
Others
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