Press release
Specialty Active Pharmaceutical Ingredients (API) Market expected to grow at a CAGR of 8.8% during 2016 - 2024
IntroductionOver the last few years, manufacturing of specialty active pharmaceutical ingredients in contract manufacturing organizations (CMOs) is increasing at a rapid pace. In order to reduce operational costs, pharmaceutical companies in the health care industry are utilizing CMO services to develop active pharmaceutical ingredients. Thus, companies are developing finished pharmaceutical products (FPP) such as tablets, capsules and syrups etc. In order to meet customer needs, specialty active pharmaceutical ingredient manufacturers are entering into various manufacturing agreements with pharmaceutical companies. Moreover, agreements between specialty pharmaceutical ingredient manufactures for production of specialty active pharmaceutical ingredients is also expected to fuel market growth in terms of revenue over the forecast period. Furthermore, CMOs are providing robust manufacturing facilities with GMP and EU certificates to develop specialty active pharmaceutical ingredients. Furthermore, large market players in the pharmaceutical industry are currently following a backward integration strategy to manufacture active pharmaceutical ingredients to generate more revenue.
Market Value and Forecast
The global specialty active pharmaceutical ingredients (API) market is anticipated to record a year-over-year growth rate of 7.9% and reach a market value of US$ 119,513.1 Mn in 2016.
Market Dynamics
Patent expiration is the key factor driving overall growth of the generic drugs market. Thus, increasing generic drugs is expected to fuel production of specialty active pharmaceutical ingredients. Moreover, prevalence rate of various chronic disease such as cardiovascular, cancer and infectious diseases is expected to drive production volumes of specialty active pharmaceutical ingredients over 2016–2024.
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Market Segmentation, by Product Type
By product type, FMI has segmented the market into steroidal API, peptides, carbohydrate API, small molecule and high potency API. Among all products, small molecule segment accounted for largest market share in 2015 and the trend is projected to continue over the forecast period, with highest CAGR of over 8%. Small molecule segment revenue share is expected to high owing to increasing generic drugs in the pharmaceutical product segment. Peptide and carbohydrate are most lucrative segments after the small molecule segment.
specialty active pharmaceutical ingredients market
Market Segmentation, by Consumption
By consumption, the market has been segmented into in-house and outsourced. Outsourced segment is estimated to account for large market share in 2016 and the trend is expected to continue over the forecast period. Outsourcing segment revenue is expected to expand at a CAGR of over 10% during the forecast period, owing to increasing production of generic drugs and increasing prevalence of chronic diseases such as cancer, cardiovascular and diabetes.
Key Regions
North America market revenue is expected to expand at the highest CAGR over the forecast period. Increasing number of CMOs along with increasing production of generic drugs are factors expected to drive revenue growth of the overall specialty active pharmaceutical ingredient market in the region. As per FMI market analysis, the market in the U.S. is expected to register at a CAGR of over 8% during the forecast period due to robust manufacturing facilities and increasing government investments on development of new drugs in the country. The number of companies manufacturing active pharmaceutical ingredients in North America is relatively high when compared to other regions. Moreover, companies are entering into strategic agreements to increase production volumes of active pharmaceutical ingredients. This in turn is expected to drive overall revenues from the active pharmaceutical ingredients market in the region. Market in Europe is expected to expand at a moderate growth in a Y-o-Y over the forecast period.
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The Asia Pacific market is expected to expand at the highest CAGR in revenue terms, followed by Latin America and Middle East & Africa over the forecast period.
Key Players
Some key market participants included in FMI’s global specialty API market report include Johnson Matthey, Siegfried, Almac, PolyPeptide Laboratories, AmbioPharm, Inc., Corden Pharma, Pepscan, BCN peptide, Provence Technologies Groups, SennChemicals AG, Avecia OligoMedicines, Santaris Pharma, ST Pharm Oligo Center, Cepia Sanofi, Biospring, Pfizer CenterSource, Symbiotec Pharma Lab Pvt. Ltd., Gadea Grupo Farmacéutico, STEROID S.p.A., Dolder AG , Dalton Pharma Services, FarmaBios Spa, Dextra Laboratories Limited, GlycoSyn, Inalco Pharma, Sussex Research, Pfanstiehl, Inc., Noramco, Inc., Ash Stevens Fermion (public) Olon SpA and others.
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