Press release
COVID-19 Drug Associated APIs Market Size, Major Drivers, Trends And Analysis Report 2024-2033
COVID-19 Drug Associated APIs Market
The Business Research Company offers in-depth market insights through COVID-19 Drug Associated APIs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The covid-19 drug associated apis market size has grown strongly in recent years. It will grow from $6.37 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to rising prevalence of covid-19, increasing awareness of covid-19 treatment options, expanding access to covid-19 drugs, growing demand for covid-19 drugs for prophylaxis, government initiatives, supply chain resilience.
The covid-19 drug associated apis market size is expected to see strongly grown in the next few years. It will grow to $8.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to development of new covid-19 drug modalities, increasing clinical trials for covid-19 drugs, rising demand for covid-19 vaccines, emerging variants, vaccination campaigns, pandemic preparedness. Major trends in the forecast period include customized api production, diversification of api sources, advanced manufacturing technologies, digitalization and data analytics, sustainability and green chemistry.
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Market Segmentation:
The covid-19 drug associated apis market covered in this report is segmented -
1) By Drug Class: Antimalarials, Bronchodilators, Antibiotics, Antivirals, Other Drug Class
2) By Synthesis Type: Synthetic, Biotech
3) By Business Mode: Captive API, Merchant API
Major Driver - Elevated Demand For Active Pharmaceutical Ingredients (APIS) Driven By Antivirals, Antimalarials, And Respiratory Medications In The Covid-19 Drug Market
High demand for antiretrovirals, antimalarials, sedatives, bronchodilators, and other respiratory drugs drives the demand for the active pharmaceutical ingredients (APIs) used in the production of COVID-19 drugs. Active pharmaceutical ingredients (APIs) are the biologically active components used in manufacturing pharmaceutical drugs. Remdesivir and Favipiravir are two common antiviral medications used currently for the treatment of COVID-19 patients. Remdesivir is a medication approved for emergency use in the USA and Japan for the treatment of COVID-19 patients. FDA has approved Airsupra (albuterol and budesonide) inhalation aerosol for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of asthma attacks in patients with asthma 18 years of age and older. Favipiravir, which is used to treat influenza in Japan, has also shown a positive effect on COVID-19 patients. As COVID-19 is a respiratory ailment, the demand for bronchodilators spiked significantly. Therefore, the increasing demand for antivirals, antimalarials, and bronchodilators is projected to boost the demand for the COVID-19 drug associated APIs market over the forecast period.
Competitive Landscape:
Major companies operating in the covid-19 drug associated apis market include Dr. Reddy's Laboratories Ltd., Lianyungang Guike Pharmaceutical CO. LTD., Alembic Pharmaceuticals Ltd., Wockhardt Ltd., Sandoz Srl, Lupin Limited, Aurobindo Pharma Ltd., Shanghai Shyndec Pharmaceutical Co. Ltd., Zhejiang Yatai Pharmaceutical Co. Ltd., Zhejiang Guobang Pharmaceutical Co Ltd., Cipla Limited, Shandong Boyuan Pharmaceutical Co. Ltd., Aspiro Pharma Ltd., Qilu Antibiotics Pharmaceutical Co. Ltd., Shenzhen China Resources Jiuxin Pharmaceutical Co. Ltd., Zhejiang Cheng Yi Pharmaceutical, Star Lake Bioscience Co.Inc., Hetero Labs Ltd., Geno Pharmaceuticals Ltd., Mylan Laboratories Ltd., Ipca Laboratories Limited, Zydus Takeda Healthcare Private Limited, Mangalam Drugs & Organics, Wallace Pharmaceuticals, Zhejiang Hisun Pharmaceutical Co. Ltd., Zhejiang Huahai Pharmaceutical Co. Ltd., Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Zhejiang NHU Co. Ltd., Zhejiang Xianju Pharmaceutical Co. Ltd., Zhejiang Yongtai Technology Co. Ltd., Zhejiang Zhebei Pharmaceutical Co. Ltd., Zhejiang Tianyu Pharmaceutical Co. Ltd., Zhejiang Aisheng Pharmaceutical Co. Ltd., Zhejiang Aokang Pharmaceutical Co. Ltd., Zhejiang Anji Huifeng Surgical Dressings Co. Ltd.
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Top Trend - Pharmaceutical Industry's Strategic Expansion In Api Production To Meet Surging Demand For Covid-19 Drugs
Key players operating in the pharmaceutical industry that manufacture COVID-19 drug-associated APIs are focusing on strategies such as plant capacity or production capacity expansion to meet the increasing demand due to the rising number of coronavirus cases across the globe. For instance, in October 2023, Merck & Co., Inc., a US-based pharmaceutical company, with a recent partnership with the Heavy Water Board in India, hopes to tap into the deuterated raw compound industry, which is presently worth around $100 million and has the potential to rise to $1 billion over the next five to ten years. Merck seeks to support India's chemical, pharmaceutical, and technical sectors by offering high-quality compounds for the manufacture of medicines, semiconductors, OLEDs, and electronics. Avigan is currently undergoing clinical trials testing its safety and efficacy for the treatment of COVID-19 patients.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. COVID-19 Drug Associated APIs Market Characteristics
3. COVID-19 Drug Associated APIs Market Trends And Strategies
4. COVID-19 Drug Associated APIs Market - Macro Economic Scenario
5. COVID-19 Drug Associated APIs Market Size And Growth
…..
27. COVID-19 Drug Associated APIs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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