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Active Pharmaceutical Ingredients (API) Market Comprehensive Study Explores Huge Growth 2022-2030

Active Pharmaceutical Ingredients (API) Active Pharmaceutical Ingredients

As per the report published by The Brainy Insights shows that the global active pharmaceutical ingredients (API) market is expected to grow from USD 211.0 billion in 2022 to USD 349.2 billion by 2030, at a CAGR of 6.5% during the forecast period 2022-2030. North America overshadow the global active pharmaceutical ingredients (API) market, with a 38% share of the market revenue in 2022. The active pharmaceutical ingredients (API) in the region have been growing to increase incidences of cancer and other lifestyle-induced diseases. Furthermore, the market for active pharmaceutical ingredients (API) is increasing rapidly in North America due to rising healthcare expenditures and well-established healthcare infrastructure in countries like the US.

Active pharmaceutical ingredients (API) market Size By Business Mode (Captive API and Merchant API), By Synthesis Type (Synthetic and Biotech), By Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopedic, and Other Applications), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

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Leading companies in the industry include Novartis AG, Sanofi, Pfizer Inc., Johnson & Johnson Private Limited, Abbott, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc., UCB S.A., Sunovion Pharmaceuticals Inc., GW Pharmaceuticals plc., AstraZeneca, GlaxoSmithKline plc, H. Lundbeck A/S, and Takeda Pharmaceutical Company Limited, among others offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The global API market is  anticipated to growing significantly in the coming years, driven by factors such as increasing demand for generic drugs, a growing geriatric population, and the rising prevalence of chronic diseases. The market is highly competitive, with many companies vying for market share, including both established pharmaceutical companies and newer, smaller players.

The business mode segment is subdivided into monoclonal Captive API and Merchant API. The Captive API segment overshadow the market, with a market share of around 58% in 2022. The captive API segment has been growing owing to the extensive investments by major players to develop high-end manufacturing facilities and easy availability of raw materials. The application segment is subdivided into cardiology, pulmonology, oncology, ophthalmology, neurology, orthopedics, and other applications. Over the forecast period, the cardiology segment is anticipated to grow at the fastest CAGR of 7.1%. The increasing cases of cardiology diseases increase the demand for active pharmaceutical ingredients, adding impetus to the segment’s growth. The synthesis type segment is subdivided into synthetic and biotech. In 2022, the synthetic segment accounted for the largest share of the market, with 56% and a market revenue of USD 118.1 billion. The segment growth is attributed to the increased accessibility of raw materials and simplifying the procedures required for synthesizing these compounds.

The market’s growth can be attributed to advancements in producing active pharmaceutical ingredients (APIs) and the rising prevalence of chronic illnesses such as cancer and heart diseases. The market expansion is being propelled by favorable government regulations and changes in geopolitical scenarios, leading to a preference for nations like India over China as API export destinations. Several governments have implemented policies and offered incentives to stimulate API production, further contributing to market growth.

Read Press Release on Pharmaceutical Market.

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