Small Molecule API Market To Expand Industry Growth At USD 282.50 Billion By 2030

 San Francisco, 22 Sep 2022: The Report Small Molecule API Market Size, Share & Trends Analysis Report By Type (Synthetic, Biotech), By Application (Oncology, Pulmonology, CNS, Endocrinology), By Manufacturer, By Region, And Segment Forecasts, 2022 - 2030

The global small molecule API market size is expected to reach USD 282.50 billion by 2030, expanding at a CAGR of 5.44% during the forecast period, according to a new report by Grand View Research, Inc. It is driven by an increase in demand for pharmaceuticals globally and a high rate of new small molecule-based drug approval.

The increasing number of new pharmaceuticals entering the market is creating a lucrative opportunity for key players. For instance, as per NCBI in 2021, 75% of the drugs accepted by the FDA were small molecules, with the dominant therapeutic area being oncology. Over 50% of these approvals were from small and mid-sized companies which require support from CDMOs for the commercialization of products that enhance the growth rate of CDMOs.

The COVID-19 pandemic has made supply-chain shortcomings in the small-molecule API business apparent, as most of the production facilities are located in Asian nations such as India and China. This has increased the focus of players on creating an end-to-end integrated supply chain for the clients and increased the number of facilities in western countries with heightened support from the government for doing the same.

Merger and acquisition activities are frequently being undertaken by the players to meet the soaring demands globally. For instance, in April 2022, Novasep and PharmaZell announced a strategic merger for the creation of a leading technologically-driven CDMO for complex small molecules and specialty API production.

Expansion and diversification are becoming key strategies used by key players in the market to maintain their market share. For instance, in April 2021, Lonza announced its investment plan of USD 218.6 million for the construction of a manufacturing complex for small molecules in Switzerland. The facility is expected to ensure continuity and flexibility of supply for the products.

Emerging markets such as China, India, and Southeast Asia represent significant opportunities for growth. Furthermore, niche areas such as “halal API” further present growth opportunities owing to the rise in the demand for drugs in the segment, majorly in Middle Eastern and Southeast Asian nations. The synthetic small molecule API segment is largely driven by the presence of small companies and CDMOs that cater to the changing requirements of the industry. 

Access Research Report of Small Molecule API @ https://www.grandviewresearch.com/industry-analysis/small-molecule-api-market-report

Small Molecule API Market Report Highlights

• In 2021, synthetic APIs held the largest market share attributable to the high demand for the production of pharmaceuticals that are required in high volume
• The outsourced manufacturing segment held the largest market share owing to a dependency of small and mid-sized companies on outsourcing for commercial production
• Oncology is projected to grow at the fastest rate in the application segment as the adoption of cancer treatments is rising, creating a strong demand for API
• North America dominated the market in 2021 due to the presence of key players and rising support from the government for enhancing the API manufacturing capacity of the region

List of Key Players in the Small Molecule API Market

• Merck & Co., Inc.
• AbbVie, Inc.
• Bristol-Myers Squibb Company
• Albemarle Corporation
• Boehringer Ingelheim International GmbH
• Cipla, Inc.
• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.
• Reddy’s Laboratories Ltd.
• Aurobindo Pharma
• Sun Pharmaceutical Industries Ltd.

Access Press Release of Small Molecule API @ https://www.grandviewresearch.com/press-release/global-small-molecule-api-market