Active Pharmaceutical Ingredients Industry Overview
The global active pharmaceutical ingredients market size was valued at USD 222.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.90% from 2023 to 2030. The growth can be attributed to the advancements in active pharmaceutical ingredient (API) manufacturing and the rising prevalence of chronic diseases, such as cardiovascular diseases and cancer. Favorable government policies for API production, along with changes in geopolitical situations, are boosting market growth. The API market is undergoing immense changes due to supply chain disruption by COVID-19. Countries such as India are being preferred over China for the export of API owing to geopolitical situations and the demand to reduce dependence on China for API products. Furthermore, governments of many countries have formulated plans and granted incentives to promote the production of API.
The COVID-19 pandemic had a positive impact on the global APIs market. The pharmaceutical industry was an epicenter in treating symptoms related to COVID-19, including high fever, cough, and cold. Due to the increased popularity of the pharma industry during the pandemic, the active pharmaceutical ingredients market also witnessed growth during the period. Following the World Health Organization's declaration of the COVID-19 outbreak as a pandemic, a diverse group of renowned pharmaceutical and biopharmaceutical companies, as well as new startups, stepped forward to create therapies to combat the virus.
Gather more insights about the market drivers, restraints, and growth of the Global Active Pharmaceutical Ingredients market
Scientists discovered a list of compounds that target COVID-19. Currently, there are approximately 155 compounds in clinical trials and 45 molecules in preclinical development to combat COVID-19. Four vaccines have been repurposed for treatment against COVID-19, including Chloroquine, Hydroxychloroquine, Lopinavir & Ritonavir, and Remdesivir. In March 2020, WHO started a worldwide trial of the four COVID-19 medicines. Increased investment and research and development in pharmaceutical products will propel the growth of the market further. However, the coronavirus outbreak has caused global business and economic disruption. It is expected to have a short-term impact on the active pharmaceutical ingredients industry in the first quarter of 2020.
The global geriatric population is rising. According to the UN, in 2018, the population aged 65 and above is anticipated to increase from 962 million in 2018 to 2.1 billion by 2050. Aging weakens the immune system and increases a patient’s susceptibility to acquiring infectious diseases. Moreover, impairment in body functions enhances the chances of getting other diseases, such as CVD and diabetes.
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Active Pharmaceutical Ingredients Market Segmentation
Grand View Research has segmented the global active pharmaceutical Ingredients market based on the type of synthesis, type of manufacturer, type, application, type of drug and region:
Active Pharmaceutical Ingredients Type of Synthesis Outlook (Revenue, USD Billion, 2018 - 2030)
- Biotech
- Synthetic
Active Pharmaceutical Ingredients Type of Manufacturer Outlook (Revenue, USD Billion, 2018 - 2030)
- Captive APIs
- Merchant APIs
Active Pharmaceutical Ingredients Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Generic APIs
- Innovative APIs
Active Pharmaceutical Ingredients Type of Drug (Revenue, USD Billion, 2018 - 2030)
- Prescription Drugs
- Over-the-counter Drugs
Active Pharmaceutical Ingredients Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Cardiovascular Diseases
- Oncology
- CNS and Neurology
- Orthopedic
- Endocrinology
- Pulmonology
- Gastroenterology
- Nephrology
- Ophthalmology
- Others
Active Pharmaceutical Ingredients Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Market Share Insights
August 2021: Teva Pharmaceutical and MEDinCell received approval from the U.S FDA for a new drug application to treat schizophrenia. Moreover, legal issues are slowing down the establishment of new API facilities.
Key Companies profiled:
Some of the prominent players in the Active Pharmaceutical Ingredients market include:
- Merck & Co., Inc.
- AbbVie, Inc.
- Bristol-Myers Squibb Company
- Boehringer Ingelheim International GmbH
- Cipla, Inc.
- Teva Pharmaceutical Industries Ltd.
- Albemarle Corporation
- Viatris Inc.
- Aurobindo Pharma
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
Order a free sample PDF of the Active Pharmaceutical Ingredients Market Intelligence Study, published by Grand View Research.
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