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Small Molecule API Market Report 2024 - Small Molecule API Market Growth, Share And Trends
Small Molecule API Market
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According to The Business Research Company's, The small molecule api market size has grown strongly in recent years. It will grow from $193.44 billion in 2023 to $206.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to rise of generic drug manufacturing, increased r&d investment, aging population demands, expansion in oncology treatments, emergence of targeted therapies.
The small molecule api market size is expected to see strong growth in the next few years. It will grow to $275.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to supply chain resilience, digitalization in pharmaceutical manufacturing, increasing investment in oncology, adoption of green chemistry, pandemic-driven healthcare needs. Major trends in the forecast period include biopharmaceutical synergy, personalized medicine, advanced manufacturing techniques, api outsourcing and contract manufacturing.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to propel the growth of small molecules API market going forward. Chronic disease refers to a form of illness that lasts for three months or more and can deteriorate with time. Chronic conditions, such as cardiovascular diseases, diabetes, and cancer, require long-term medication, leading to a sustained demand for pharmaceutical treatments. Small molecules APIs often enable the formulation of drugs with optimized bioavailability, improved pharmacokinetics, and reduced side effects, contributing to the overall effectiveness and patient acceptability of long-term treatment regimens for chronic conditions. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the increasing prevalence of chronic diseases is driving the growth of the small molecule API market.
Strategic partnership is a key trend in the small-molecule API market. Many companies operating in the small-molecule API market are undergoing partnerships to strengthen their position in the small-molecule API market and advance the development of various drugs and therapies. For instance, in March 2023, CatSci Ltd, a UK-based pharmaceutical company partnered with AGC Pharma Chemicals, a Spain-based pharmaceutical company to fortify drug development. CatSci's non-clinical specialization now leverages AGC's manufacturing prowess, supporting clinical phase projects. AGC's clients access CatSci's advanced capabilities in therapeutic development, with a focus on scalable small molecule API manufacturing and diverse technologies. The collaboration prioritizes seamless tech transfer, aiming to provide strategic value, expedite drug development timelines, and deliver impactful small molecule API-based medicines globally.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Merck & Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, Albemarle Corporation, Boehringer Ingelheim International GmbH, Dr. Reddy's Laboratories Ltd., Aurobindo Pharma, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., Cambrex Corporation, Lonza Group AG, Siegfried Holding AG, AstraZeneca, F. Hoffmann-La Roche AG, Nanjing King-friend Biochemical Pharmaceutical Co. Ltd, Albany Molecular Research Inc., Allergan Plc, Atomwise Inc., BASF SE, BenevolentAI Limited, Certara L.P., Exscientia AI Limited, Gilead Sciences Inc., GlaxoSmithKline plc, HotSpot Therapeutics Inc., Insitro Inc., Johnson Matthey PLC, Novartis AG
Small Molecule API Market 2024 Key Insights:
• The small molecule api market size is expected to see strong growth in the next few years. It will grow to $275.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Surging Demand For Small-Molecule Drugs Fuels Growth In The Small-Molecule Api Market
• Strategic Partnerships Reshaping The Landscape Of The Small-Molecule Api Market
• North America was the largest region in the small molecule API market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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