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Active Pharmaceutical Ingredient Market Predicted to Reach US$ 307.5 Billion at a CAGR of 4% by 2034

02-20-2024 03:41 AM CET | Health & Medicine

Press release from: Fact.MR

Active Pharmaceutical Ingredient Market

Active Pharmaceutical Ingredient Market

The estimated size of the global active pharmaceutical ingredient (API) market stands at US$ 207.9 billion in 2024 and is anticipated to surge to US$ 307.5 billion by the end of 2034. This represents a steady growth trajectory, with a compound annual growth rate (CAGR) of 4% over the ten-year period from 2024 to 2034.

The market serves as a fundamental cornerstone of the pharmaceutical sector, playing a crucial role in delivering the therapeutic effects of medications. Active pharmaceutical ingredients (APIs) represent bioactive compounds that impart the necessary pharmacological actions to drugs, enabling their efficacy in addressing diverse medical conditions.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐š ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9124

The global active pharmaceutical ingredient (API) market is experiencing significant growth, driven by various factors such as the increasing prevalence of chronic diseases, rising demand for generic drugs, advancements in drug development technologies, and the growing focus on personalized medicine.

Growing Demand for Generic Drugs:

One of the primary drivers of the API market's growth is the increasing demand for generic drugs. As patents for several branded drugs expire, pharmaceutical companies are focusing on developing generic versions of these drugs to cater to the growing demand for affordable healthcare solutions. APIs serve as the key ingredients in generic drugs, and their availability and cost-effectiveness play a crucial role in driving market growth.

Shift Towards Outsourcing:

Pharmaceutical companies are increasingly outsourcing the manufacturing of APIs to specialized contract manufacturing organizations (CMOs) and contract development and manufacturing organizations (CDMOs). Outsourcing allows companies to benefit from cost savings, access specialized expertise, and streamline their operations. Additionally, outsourcing enables companies to focus on their core competencies such as drug discovery and commercialization while leveraging the capabilities of external partners for API manufacturing.

Increasing Focus on Biologics:

Biological drugs, including monoclonal antibodies, peptides, and recombinant proteins, represent a growing segment of the pharmaceutical market. APIs for biologics are produced using complex biotechnological processes and require specialized manufacturing facilities. As the demand for biologics continues to rise, there is a growing emphasis on the development and manufacturing of biologically derived APIs. This trend presents opportunities for companies specializing in biopharmaceutical manufacturing and biotechnology.

Regulatory Compliance and Quality Assurance:

Stringent regulatory requirements and quality standards govern the manufacturing and distribution of APIs to ensure patient safety and product efficacy. Regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) impose strict guidelines for API manufacturing practices, including good manufacturing practices (GMP) and quality control measures. Compliance with these regulations is essential for API manufacturers to obtain regulatory approvals and maintain market credibility.

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Bristol-Myers Squibb Company
Pfizer Inc.
Boehringer Ingelheim
Cipla Inc.
Eli Lilly and Company
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline PLC
Hepalink Group
Merck & Co. Inc.
Sandoz International GmbH
Aurobindo Pharma Limited
Fresenius Kabi LLC
Teva Pharmaceutical Industries Ltd.
Sanofi
Novartis AG
Mylan N.V.
AbbVie, Inc.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž:

The active pharmaceutical ingredient (API) market's competitive landscape is a dynamic mix of established pharmaceutical titans, contract manufacturing organizations (CMOs), and emerging entities vying for market dominance through innovation, strategic partnerships, and global expansions.

Pfizer Inc. reaffirmed its commitment to US manufacturing in June 2022 by injecting US$ 120 million into its Kalamazoo, Michigan facility. This investment will facilitate domestic production of its COVID-19 oral medication, PAXLOVIDTM (nirmatrelvir [PF-07321332] tablets and ritonavir tablets), boosting API and registered starting materials (RSMs) output for nirmatrelvir. The move is anticipated to create over 250 new high-skilled jobs at Pfizer's Kalamazoo site.

Meanwhile, Teva Pharmaceuticals is channeling investments into biologics production technology for APIs with cells aimed at biosimilars and novel biologics. This strategic move aligns with the escalating demand for biopharmaceutical products, positioning Teva Pharmaceuticals to capitalize on emerging market opportunities and solidify its market presence.

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐จ๐Ÿ ๐€๐œ๐ญ๐ข๐ฏ๐ž ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ ๐ˆ๐ง๐ ๐ซ๐ž๐๐ข๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก

By API Type :
Small Molecules
Peptides & Oligonucleotides
Carbohydrate Drugs
Steroidal Drugs
Others

By Synthesis Type :
Biotech
Synthetic

By Manufacturer Type :
Captive APIs
Merchant APIs

By End User :
Pharmaceutical Companies
Biopharmaceutical Companies
CMOs
CDMOs

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

The global API market is witnessing significant growth driven by factors such as the increasing demand for generic drugs, outsourcing trends, the rise of biologics, regulatory compliance requirements, and technological advancements. As pharmaceutical companies continue to innovate and adapt to evolving market dynamics, the API sector is expected to play a pivotal role in shaping the future of the pharmaceutical industry.

๐“๐จ๐ฉ ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Sterile Active Pharmaceutical Ingredient Market
https://www.factmr.com/report/1702/sterile-active-pharmaceutical-ingredient-market
Monoclonal Antibodies Market
https://www.factmr.com/report/monoclonal-antibodies-market
Lipids Active Pharmaceutical Ingredient Market
https://www.factmr.com/report/962/lipids-active-pharmaceutical-ingredient-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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Email: sales@factmr.com

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