Active Pharmaceutical Ingredient (API) Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Active Pharmaceutical Ingredient (API) Market size was estimated at USD 165.7 billion in 2023 and is projected to reach USD 241.5 billion in 2030 at a CAGR of 8.1% during the forecast period 2024-2030.
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The Active Pharmaceutical Ingredient (API) market is pivotal in the pharmaceutical industry, serving as the core component responsible for the therapeutic effects of medications. APIs can be synthetic or derived from natural sources and are formulated into various dosage forms like tablets, capsules, or injections. These biologically active substances undergo stringent quality control measures to ensure safety and efficacy in pharmaceutical products.
Key Findings:
On the basis of Type, the dominance of the type segment in the global API market underscores its pivotal role in driving growth. These drugs typically require unique and complex APIs that are protected by patents, offering higher profit margins compared to generics or OTC drugs.
On the basis of Manufacturer, the dominance of in-house manufacturing in the global API market during the forecast period signifies several strategic advantages.
On the basis of Synthesis, the dominance of the synthetic segment in the global API market is pivotal for its growth trajectory. Synthetic APIs offer several advantages, including consistent quality, scalability, and cost-effectiveness compared to biological or plant-derived alternatives.
North America to Dominate the Market
North America held the largest Active Pharmaceutical Ingredient (API) Market due to rising chronic disease rates and government initiatives promoting innovative drug development. The region sees significant demand for biological APIs, driven by their adoption in treating various chronic conditions. For instance, the Alzheimer’s Association reports 6.5 million Americans aged 60 and above suffer from Alzheimer’s dementia, projected to rise to 15.7 million by 2050.
Competitive Landscape:
- Pfizer Inc.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Merck Co., Inc.
- Johnson Johnson
- Sanofi
- Roche Holding AG
- GlaxoSmithKline plc
- Aurobindo Pharma Ltd.
- Reddy's Laboratories Ltd.
- Cipla Ltd.
- Boehringer Ingelheim International GmbH
- Sun Pharmaceutical Industries Ltd.
- Bayer AG
- Bristol-Myers Squibb Company
- AbbVie Inc.
- Gilead Sciences, Inc.
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited and More
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Recent Developments
- In October 2022, Pfizer partnered with Acuitas to deploy a lipid nanoparticle delivery system in mRNA vaccines like COMIRNATY (tozinameran) and therapies. This advancement promotes broader adoption of mRNA therapeutics, boosting growth in the active pharmaceutical ingredient market through enhanced, scalable delivery solutions for innovative treatments.
- In August 2022, Sanofi and IGM have entered into a strategic collaboration agreement aimed at enhancing the development and commercialization of IgM antibody agonists targeting oncology, immunology, and inflammation.
The Active Pharmaceutical Ingredient (API) Market is segmented into various segments such as Type, Manufacturer Synthesis and Region:
Based on Type
- Innovative
- Generic
Based on the Manufacturer
- Captive
- Merchant
Based on the Synthesis
- Synthetic
- Biotech
The Report helps to identify the opportunities in Global Regions:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
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Reasons to Acquire
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Active Pharmaceutical Ingredient (API) Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Frequently Asked Questions
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