Active Pharmaceutical Ingredients (API) Market to Reach US$ 331.3 Bn by 2031; Shift to In-house Manufacturing of API Expanding Avenue, Finds TMR Study

- Rise in investments in synthetic APIs by pharmaceutical and biotech companies enriching revenue possibilities, especially for small molecule drugs; novel API for cardiovascular diseases extending canvas for R&D

- Pharma companies capturing enormous revenues in North America active pharmaceutical ingredients (API) market; growing number of pharmaceutical companies in Asia Pacific to grab profitable opportunities

ALBANY, N.Y., May 17, 2022 /PRNewswire/ -- Market demand for active pharmaceutical ingredients (APIs) have grown in size steadily for manufacturing of wide range of pharmaceutical formulations for chronic diseases and metabolic disorders. The safety and efficacy of APIs as well as cost of development of drugs have become crucial aspects for pharmaceutical and biotech companies. Globally, the active pharmaceutical ingredients market is projected to advance at of 6.4% during the forecast period of 2021–2031.

Trends in active pharmaceutical ingredients (API) market suggest that in-house manufacturing is likely to attract considerable traction among pharmaceutical companies in several low- and middle-income countries in Latin America and Asia Pacific. The TMR study also found that the pressing need for low-cost generics for numerous diseases is opening up new investment avenues for players in the market. Of note, this is evident in a number of Abbreviated New Drug Applications (ANDA) submitted to the U.S. FDA over the past few years.

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Key vendors in the active pharmaceutical ingredients market are tapping into promising avenues from the rise in synthetic API processes. The revenue potential in the active pharmaceutical ingredients (API) market has been rising noticeably, and analysts at TMR found that the shares is exceed that of biological processing used for synthesis of APIs.

Key Findings of Active Pharmaceutical Ingredients (API) Market Study

• Safety and Efficacy of APIs Unlocks Enormous Possibilities in Synthetic APIs: Marketing strategy for active pharmaceutical ingredients encompasses adopting new biotechnological approaches in synthesizing API molecules. The authors of the TMR study observed that the demand for synthetic APIs is expected to rise noticeably during the forecast period. Evidently, the number of synthetic APIs with promising efficacies and high safety profiles have enriched the drug pipeline of several drug manufacturers globally.
• Branded or Innovative Prescription Drugs Presents Massive Avenues: The patent expiry of blockbuster drugs might attract investments by API companies to offer molecules for generic drugs. Of note, the TMR study found that key vendors in active pharmaceutical ingredients market are tapping into the vast revenue possibilities that arise from the rise in number of small molecule drugs among pharmaceutical and biotech companies. The segment held a major share in 2020. Moreover, the trend is reiterated by a large number of U.S. FDA approvals have been small molecules.

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Active Pharmaceutical Ingredients (API) Market: Key Drivers

• High prevalence of chronic diseases and burden of cancer are steering the need for constant innovations in pharmaceutical formulations. This is a key driver of the active pharmaceutical ingredients (API) market.
• Strides being made in the pharmaceutical and biotech industry to meet wide range of needs for medications for various target populations are propelling the expansion of the active pharmaceutical ingredients (API) market.

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Active Pharmaceutical Ingredients (API) Market: Regional Growth Dynamics

• North America held a major share of the global active pharmaceutical ingredients (API) market in 2020. The dominance can be ascribed to the presence of several global prominent API manufacturers, approval of a spate of novel API molecules and their commercialization, and a well-established health system in the U.S. The country has offered massive avenues due to the large target population.
• The Asia Pacific active pharmaceutical ingredients (API) market is projected to expand at promising pace during the forecast period (2021–2031). Growing number of pharmaceutical companies as well as API manufacturers are leaning on capturing revenues by meeting rise in demand for biologics and generic drugs.

Active Pharmaceutical Ingredients (API) Market: Key Players

Some of the key players in the active pharmaceutical ingredients (API) market are GlaxoSmithKline plc., Eli Lilly and Company, Dr. Reddy's Laboratories Ltd., Bristol-Myers Squibb Company, Alembic Pharmaceuticals Limited, BASF, AbbVie, Inc., Ipca Laboratories Ltd., Hisun USA, Inc., Piramal Pharma Solutions, Lonza, Mylan N.V., Novartis AG, Pfizer, Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Merck & Co., Inc.

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Global Active Pharmaceutical Ingredients (API) Market: Segmentation

• Active Pharmaceutical Ingredients (API) Market, by Manufacture Type
• In House Manufacturing
• Contract Manufacturing
• Active Pharmaceutical Ingredients (API) Market, by Drug Type
• Branded or Innovative Prescription Drugs
• Generic Prescription Drugs
• Over-the-counter (OTC) Drugs
• Active Pharmaceutical Ingredients (API) Market, by API Type
• Synthetic
• Biological
• Plant Extracts
• Active Pharmaceutical Ingredients (API) Market, by Application
• Anti-infective
• Cardiovascular
• Neurological
• Metabolic Disorder
• Respiratory
• Oncology
• Others
• Active Pharmaceutical Ingredients (API) Market, by End User
• Pharmaceutical & Biotechnological Industry
• CROs
• CMOs
• Others
• Active Pharmaceutical Ingredients (API) Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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