Global Active Pharmaceutical Ingredients Market (2021-2030) – By Manufacturer Type, Type, Synthesis Type, Drug Type, Therapeutic Application, Distribution Channel, and Region – ResearchAndMarkets.com

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DUBLIN – (COMMERCIAL THREAD) – The report “Active Pharmaceutical Ingredients Market Research Report: By Manufacturer Type, Type, Synthesis Type, Drug Type, Therapeutic Application, Distribution Channel – Revenue Estimated for Global Industry Up in 2030 ”was added to ResearchAndMarkets.com offer.

The global active pharmaceutical ingredients market was valued at $ 184,311.2 million in 2020, and is expected to reach $ 357,005.7 million by 2030, demonstrating a CAGR of 6.9% of 2021 to 2030.

Mushrooming Geriatric Population: According to the World Health Organization (WHO), the increase in average life expectancy in recent years has caused a sharp increase in the elderly population. According to the World Population Aging 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 and over will grow from 727 million in 2020 to over 1.5 billion by 2050 As geriatric people are vulnerable to chronic and acute illnesses due to weak immune systems, their growing population is driving the need for effective drugs, hence fueling the expansion of API market.

Increasing Incidence of Chronic Diseases: People with sedentary lifestyles and the prevalence of obesity increasing, the incidence of various chronic diseases, such as diabetes, is skyrocketing around the world. According to the WHO, 422 million people are currently living with it and the disease kills 1.6 million each year. Being a long term illness, patients need constant medication, especially insulin.

The COVID-19 pandemic has amplified global demand for pharmaceuticals. Due to the growing number of patients, drug research and development activities, especially those aimed at finding an effective vaccine, have increased. In addition, the API market has been positively impacted by the growing demand for these products during the pandemic. For example, the Pharmaceutical Export Promotion Council (PHARMEXCIL) of India recorded a significant increase in the cost of penicillin, one of the best-known antibiotics, from $ 6.16 per unit in January 2020 to 8.69 $ the unit in just one month.

The oncology category has dominated the API market in recent years, in the therapeutic applications segment. The high incidence of cancer is driving a growing need for highly potent APIs (HPAPIs). According to the American Cancer Society, by the end of 2021, nearly 1.9 million new cancer cases and 608,570 related deaths will be reported in the United States. Likewise, according to the WHO, there were 2,003,789 cases of various types of cancer in Southeast Asia in 2018. In addition, the disease claimed the lives of 1,336,026 people in the same year.

Geographically, North America is expected to dominate the API market in the coming years due to the increasing prevalence and awareness of chronic and lifestyle-related diseases, increasing attention by governments on generic drugs, growing needs for specialty drugs and biologics, rapid technological advancements, and an increasing number of pharmaceutical R&D activities in the region. For example, according to the Centers for Disease Control and Prevention (CDC), in 2018, chronic diseases cost the U.S. health care system $ 3.5 trillion.

Market dynamics

Tendencies

  • Partnerships and mergers and acquisitions

  • Technological breakthrough in API manufacturing

Conductors

  • Geriatric population on the rise

  • Increased incidence of chronic disease

  • Growing importance of generics

  • Impact analysis of engines on market forecasts

Constraints

  • High manufacturing costs

  • Unfavorable drug price control policies

  • Strict regulations

  • Impact analysis of constraints on market forecasts

Companies mentioned

  • Cipla SA

  • Dr Reddy’s Laboratories Ltd.

  • Teva Pharmaceutical Industries Limited

  • Aurobindo Pharma Limited

  • Novartis AG

  • Pfizer Inc.

  • Bristol-Myers Squibb Company

  • Glenmark Life Sciences Limited

  • Johnson & johnson

  • Merck & Co. Inc.

  • AbbVie Inc.

  • Eli Lilly and company

  • GlaxoSmithKline plc

  • Sanofi

  • Takeda Pharmaceutical Company Limited

  • Amneal Pharmaceuticals Inc.

  • AstraZeneca plc

  • Sun Pharmaceutical Industries Ltd.

  • Alkem Laboratories Limited

  • Mylan NV

  • Lupine Limited

  • STADA Arzneimittel AG

  • Mallinckrodt plc

  • Glenmark Life Sciences Limited

  • MSN Laboratories Pvt. Ltd.

For more information on this report, visit https://www.researchandmarkets.com/r/jcejhf


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