Synthetic Small Molecule API Market Size To Hit USD 217.17 Billion By 2030

 San Francisco, 24 Aug 2023: The Report Synthetic Small Molecule API Market Size, Share & Trends Analysis Report By Manufacturer (In-house, Outsourced), By Application (Cardiology, Oncology), By Region, And Segment Forecasts, 2022 - 2030

The global synthetic small molecule API market size is expected to reach USD 217.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.73% from 2022 to 2030. This can be attributed to the increasing demand for pharmaceuticals and new small molecule-based drugs globally. Moreover, small molecules API offers versatility between dosage forms and has an easier means of purification, which makes it more acceptable and increases the demand.

There is an increasing dominance of synthetic drugs in the pharmaceutical industry, which is expected to propel the requirement of raw materials such as small molecule APIs for production. Moreover, technological advancements related to the enhancement of existing products are expected to provide new opportunities for small molecule therapeutics. For instance, in March 2022, Evonik launched the new EUDRATECSoluFlow technology that enhances the solubility of oral small molecules.

The market is driven by positive government support for the production of APIs in various regions, particularly in Asia, where the majority of API manufacturers are dependent on the supply of API for the production of synthetic small molecule APIs. There has been an increasing focus on outsourcing activities for API production. For instance, in April 2020, for managing COVID-19, Wavelength Pharmaceuticals expanded the supply of key drug ingredients for certain pharmaceutical products needed to manage respiratory critical care patients and launched API CDMO services. Emerging markets such as China, India, and Southeast Asia represent significant opportunities for growth.

The investment in new and complex technologies is relatively low for Asian manufacturers as they are more focused on less complex molecules that can be produced in bulk. Thus, the investment in high-yielding, low-cost technologies is an alternative for manufacturers in other developed regions such as Europe and North America to avoid competitive pressure.

Key players operating in the market are focusing on collaboration for the production of potent API products. For instance, in August 2021, Almac Sciences signed an agreement with Pila Pharma for the production of the API XEN-D0501, a highly potent and selective small molecule TRPV1 antagonist. Moreover, CDMOs are constantly evolving by expanding their capacities to meet the heightened demand for synthetic drugs. For instance, in April 2022, AGC Inc. announced the expansion of its Spanish facility by 7500 m² for synthetic pharmaceutical production, which is expected to enhance the demand for synthetic small molecule active pharmaceutical ingredients in the region.

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

Synthetic Small Molecule API Market Report Highlights

• The growth of the overall market is attributed to the increasing production of pharmaceuticals with the increased demand for raw material
• The API market is witnessing a key shift with the rise in the preference for CDMOs for the production of synthetic small molecule active pharmaceutical ingredients in bulk
• By manufacturer, the outsourced segment is expected to witness lucrative growth over the forecast period owing to a dependency of small and mid-sized companies on outsourcing for commercial production
• The cardiology appolication segment dominated the market in 2021. This is attributed to the increasing prevalence of target diseases
• 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

Synthetic Small Molecule API Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 139.05 billion
Revenue forecast in 2030	USD 217.17 billion
Growth rate	CAGR of 5.73% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

List of Key Players of Synthetic Small Molecule API Market

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

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