Active Pharmaceutical Ingredient Future Demand Competitive Situation and Emerging Trends with Historic Forecast

According to the new market research report "Active Pharmaceutical Ingredient Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, Hormones, Cytokines), Drug (OTC, Rx) Application (Diabetes, Oncology, CVD) - Global Forecast to 2027", The global Active Pharmaceutical Ingredient market is estimated to reach USD 216.4 billion by 2027 from USD 145.9 billion in 2022, at a CAGR of 8.2% during the forecast period.

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Factors such as an increased incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. However, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.

On the basis of type, the APIs (Active Pharmaceutical Ingredient) market is segmented into innovative APIs and generic APIs. The innovative APIs segment is expected to dominate this market in 2021. Factors such as the higher price of innovative APIs as compared to their generic equivalents are driving the market. However, the generic APIs segment is expected to grow at a higher CAGR during the forecast period owing to the gradual shift in prescriptions from branded drugs to generic drugs across the globe.

On the basis of the type of synthesis, the Active Pharmaceutical Ingredient (APIs) market is segmented into synthetic APIs and biotech APIs. Synthetic APIs are expected to command a larger share of the market in 2021. Factors such as the increasing emergence of new molecules in the market and an increased number of new product approvals are driving the market.

On the basis of therapeutic applications, the APIs market is segmented into communicable diseases, oncology, cardiovascular diseases, diabetes, pain management, respiratory diseases, and other therapeutic applications (CNS and neurological disorders, nephrology, endocrinology, orthopedics, ophthalmology, and gastrointestinal disorders). The communicable diseases segment is the largest segment of the global APIs market. Factors such as the increasing global incidence of communicable diseases and growing antimicrobial resistance are driving market growth.

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Geographical Growth Scenario:

On the basis of region, the active pharmaceutical ingredients market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America dominated the market, followed by Europe. The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as the growing prevalence of chronic diseases, increase in disposable income, and initiatives taken by the government to encourage the adoption of generics to drive the APIs market in this region.

Key Players:

The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK).

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