Active Pharmaceutical Ingredients (API) Global Market Research Report 2023: A $388+ Billion Market by 2029 - Increasing Scope of HPAPI and Advanced Next Generation Biologics Markets - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Active Pharmaceutical Ingredients (API) Global Market - Forecast To 2029" & "Pharmaceutical Excipients Global Market - Forecast To 2029" report has been added to ResearchAndMarkets.com's offering.
The API global market is expected to grow at a high single digit CAGR from 2022 to 2029 to reach $388,002.4 million by 2029
The major factors driving the API market are increasing incidence and prevalence of various chronic diseases, adoption of biologics in disease management & increasing regulatory approvals and increasing R&D expenditure & expansion of manufacturing facilities.
Whereas, growing scope for HPAPI and next generation therapeutics such as cell therapy and gene therapy, increasing patent expiration and trend of outsourcing are providing immense opportunity to the API market. The high risk of contamination during the manufacturing of API, high cost for manufacturing of complex and advanced API's, presence of alternatives and stringent regulations associated with pharma manufacturing are hindering the market growth.
The global API market is mainly segmented based on synthesis, business type, application, and geography. Based on synthesis, the API global market is segmented into synthetic API, biotech API and HPAPI. Among these, synthetic API accounted for the highest revenue in 2022 and is expected to grow at a mid single digit CAGR from 2022 to 2029.
Biotech API is expected to grow at a double digit CAGR from 2022 to 2029. Based on product type, Biotech API is further segmented into antibodies, recombinant proteins, vaccines, cell therapy, gene therapy and others. Among these, antibodies segment accounted for the highest revenue in 2022 and is expected to grow at a double digit CAGR from 2022 to 2029.
Synthetic API global market based on customer base is further segmented into branded and generic synthetic API. Among these, branded synthetic AP global market accounted for the highest revenue in 2022 and is expected to grow at a mid single digit CAGR from 2022 to 2029. Generic synthetic API market is expected to grow at a high single digit CAGR from 2022 to 2029.
The Captive API global market is further segmented into branded and generic API. Among these, branded API accounted for the highest revenue in 2022 and is expected to grow at a mid single digit CAGR from 2022 to 2029. The merchant API global market is further segmented into branded and generic API.
The API global market based on application is segmented into infectious diseases, oncology, cardiovascular diseases, central nervous system, pulmonary diseases, gastrointestinal diseases, endocrine diseases, metabolic disorders, genito-urinary diseases, musculoskeletal diseases and others such as ophthalmology, nephrology, hepatology, ENT, dental, dermatology, and pain management.
In synthetic API global market based on application, infectious disease segment accounted for the highest revenue in 2022 and is expected to grow at a mid single digit CAGR from 2022 to 2029. Oncology is expected to grow at a high single digit CAGR from 2022 to 2029. In Biotech API global market based on application, musculoskeletal diseases segment accounted for the largest revenue in 2022 and is expected to grow at a double digit CAGR from 2022 to 2029.
The factors such as increasing generic pharmaceuticals and vaccines production, number of pharma companies with a strong network of manufacturing facilities, increasing outsourcing with number of CMO's and expanding manufacturing facilities, increasing development of new pharma and biopharma drugs, growing biotech R&D investment, presence of number of innovative biotech startups, presence of dedicated departments to support biotechnology research, increasing government investment to support the pharma and biotech industry, low labor cost, and increased prevalence of infectious and other chronic diseases are driving the market growth.
Factors Influencing Market
Drivers and Opportunities
- Increasing Incidence and Prevalence of Chronic, Communicable and Autoimmune Diseases
- Adoption of Biologics in Disease Management and Increasing Regulatory Approvals
- Increasing Investment in Research and Development (R&D) and Expansion of Manufacturing Facilities
- Patent Expiration of Major Drugs
- Increasing Scope of Hpapi and Advanced Next Generation Biologics Market
- Increasing Trend of Outsourcing and Adoption in Emerging Market
- Increase in the Geriatric Population
Restraints and Threats
- Contamination of API
- High Cost for Manufacturing Apis
- a Requirement of Highly Skilled Technicians
- Pierce Competition Between API Players
- Presence of Alternatives
- Stringent Regulatory Policies and Environmental Concerns
- International Organization for Standardization
- Iso 9001: 2015 Quality Management System
- Iso 13408 Aseptic Processing
- Iso 14644-1 Clean Room Standards
- South Korea
- Latin America
- Middle East
- Automation and Control
- Continuous Flow Manufacturing
- Cryogenic Technology
- Single - Use System (Sus)
- Artificial Intelligence in API Manufacturing
- Chemistry in Water
- M-Rna Technology in Vaccine Manufacturing
- Advancements in Hpapi Manufacturing
- Catalent Inc.
- Divis Laboratories
- Lonza Group Ltd.
- Pfizer Inc.
- Samsung Biologics Co. Ltd.
- Teva Pharmaceutical Industries Limited.
- Thermo Fisher Scientific Inc
- Wuxi Apptec Co. Ltd.
- 10 Wuxi Biologics (Cayman) Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xdo649
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