Active Pharmaceutical Ingredients: Global Market Trends and Innovations
Navigate Fierce Competition and Regulatory Challenges: Analyzing Shifts in API Demand and Market Impact
BOSTON, Jan. 6, 2025 /PRNewswire/ -- According to the latest study from BCC Research, "Active Pharmaceutical Ingredients: Global Markets" is estimated to reach $347.9 billion by 2029, at a compound annual growth rate (CAGR) of 5.9% from 2024 through 2029.
This report comprehensively analyzes the global active pharmaceutical ingredients (API) market in order to help readers evaluate the market landscape, develop growth strategies, and assess their market position. BCC Research estimates the API market size for 2023, with forecasts through 2029. The analysis focuses on API demand across regions and countries, clearly understanding consumption trends rather than production output.
The API market is segmented by manufacturer type, production method, molecule type, and region. The report also covers industry growth trends, market drivers, restraints, and opportunities, in order to provide a thorough understanding of market dynamics. This global perspective allows businesses to identify evolving needs and make informed decisions to capitalize on opportunities in the API market.
The COVID-19 pandemic highlighted the risks of depending on specific regions for API production, prompting a trend towards diversification and reshoring to mitigate supply chain vulnerabilities and geopolitical risks. This report explores how these changes have impacted and will continue to influence the API market and demand patterns across different regions. It provides insights into the ongoing realignment of the global API supply chain.
The factors driving the global market for APIs include:
Resilient Pharmaceutical Demand: The demand for pharmaceuticals remains strong due to the continuous need for medications to manage chronic and acute diseases, ensuring a stable market for APIs.
Increase in Adoption of Generics: The expiration of patents for many branded drugs has led to a significant shift toward generics, which are more affordable and increase the demand for APIs used in their production.
Shift to More Complex Chemical Entities: The pharmaceutical industry focuses on developing more complex chemical entities, including highly potent active pharmaceutical ingredients (HPAPIs) and innovative drug formulations, necessitating advanced manufacturing techniques.
Growth in the Biologics Market: Biologics, including vaccines and gene therapies, are increasingly important, driving demand for APIs needed in these products.
Advances in API Manufacturing: Technological innovations, such as continuous manufacturing and biocatalysis, are improving efficiency and reducing costs in API production, helping to meet growing demand.
Government Support: Governments support domestic API production through funding, favourable regulations, and incentives, ensuring a stable supply chain and encouraging innovation in the pharmaceutical sector.
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Report Synopsis
Report Metric | Details |
Base year considered | 2023
|
Forecast period considered | 2024-2029
|
Base year market size | $247.8 billion
|
Market size forecast | $347.9 billion
|
Growth rate | CAGR of 5.9% for the forecast period of 2024-2029 |
Segments covered | Manufacturer Type, Production Method, Molecule Type
|
Regions covered | North America, Europe, Asia-Pacific, Rest of the World
|
Countries covered
| U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Denmark, Norway, Poland, Belgium, Austria, Netherlands, Sweden, Russia, China, Japan, India, Australia, South Korea, New Zealand, Taiwan, Singapore, Malaysia, Thailand, Philippines, Indonesia, Brazil, Turkey, Argentina, Israel, U.A.E., South Africa, Egypt, Turkey, Iran, Iraq, Peru, Columbia |
Market drivers
| • Resilient pharmaceutical demand • Increase in adoption of generics • Shift to more complex chemical entities • Growth in the biologics market • Advances in API manufacturing • Government support |
Interesting facts:
- As of August 14, 2023, around 75% of API manufacturing sites serving the U.S. market are outside the U.S., with 29% in Europe, 19% in India, and 15% in China.
- The number of biopharmaceutical manufacturing sites in the U.S. has grown by more than 50% in recent years.
- European manufacturers specialize in APIs with low production volumes, technologically complex production processes, and high-quality requirements.
The report addresses the following questions:
- The global API market was estimated at $247.8 billion in 2023 and is projected to reach $347.9 billion in 2029, growing at a CAGR of 5.9% during the forecast period.
- Manufacturer type, production method, molecule type, and region.
- The chemical synthesis production method segment is expected to dominate the market in 2029.
- The large molecule segment is the fastest-growing market.
Market leaders include:
- AUROBINDO PHARMA
- DIVI'S LABORATORIES LTD.
- EUROAPI
- EVONIK INDUSTRIES AG
- LONZA
- PFIZER INC.
- SIEGFRIED HOLDING AG
- TEVA PHARMACEUTICAL INDUSTRIES LTD.
- THERMO FISHER SCIENTIFIC INC.
- WUXI APPTEC
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