Active Pharmaceutical Ingredients Market Size Is Expected To Reach USD 352.98 Billion By 2030

 San Francisco, 16 Aug 2024: The Report Active Pharmaceutical Ingredients Market Size, Share & Trends Analysis Report By Type Of Synthesis (Biotech, Synthetic), By Type Of Manufacturer (Captive, Merchant), By Type, By Application, By Type Of Drug, By Region, And Segment Forecast to 2024 - 2030

The global active pharmaceutical ingredients market size is expected to reach USD 352.98 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.75% from 2024 to 2030. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical Ingredients (API) manufacturing, and an increase in the geriatric population.

The growth of the captive API segment is propelled by companies investing in solving challenges and developing new chemical ways for the production of APIs in-house. This aids in reducing costs and the risk of contamination. Artificial intelligence and protein synthesis are expected to facilitate faster development with greater control over the process.

The rising prevalence of chronic and lifestyle-based conditions, such as cardiovascular diseases, is accelerating the demand for API. For instance, as per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that supports cardiovascular disease development. Cardiovascular diseases are one of the global, critical public health burdens driving extensive R&D for APIs in the field.

The active pharmaceutical Ingredients market was positively influenced by the COVID-19 pandemic, as countries and significant players produce large quantities of components to meet the demand for the treatment of COVID-19.  As a result of the outbreak, drug companies have changed the companies’ strategies to focus on a larger patient population. To treat coronavirus, the U.S., for example, requested that HCQ be imported from India. The virus has also impacted Canada's medicine supply system, potentially causing complications for patients. The increasing importance of generics, rise in consumption of biopharmaceuticals, and expanding drug research and development activities for drug manufacturing are the primary drivers driving the growth of the market. However, the market's expansion is likely to be hampered by unfavorable drug price control regimes in several countries and high manufacturing costs.

Developing nations like India are receiving an increased preference in the market over dominant API market countries, like China, owing to geopolitical situations. Furthermore, India has quality raw materials and products, a large workforce, a vast distribution network, and government subsidies through the "Make in India" program.

To address unmet medical needs, companies are collaborating to develop novel treatments. This allows firms to use their resources to aid in the development of products and enhance the supply chain. In November 2021, Merck & Co Inc. announced that it has acquired Acceleron Pharma, this acquisition would help Merck & Co to expand their cardiovascular portfolio and pipeline.

 

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Active Pharmaceutical Ingredients Market Report Highlights

• Innovative APIs held the largest share of 62.0% in 2023, owing to increasing research and development activities for novel drug development and positive government initiatives
• Captive APIs segment held the largest market share of 51.03% in 2023
• The synthetic API segment dominated the market with the largest revenue share of 70.66% in 2023, owing to the higher availability of raw materials and easier protocols for the synthesis of these molecules
• North America accounted for the largest revenue share of 38.26% in 2023 and is expected to maintain its lead over the forecast period. This is attributed to the rising epidemiology of cancer, along with other lifestyle-induced diseases, thus encouraging the R&D activities, thereby boosting the market growth

Active Pharmaceutical Ingredients Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 252.34 billion
Revenue forecast in 2030	USD 352.98 billion
Growth rate	CAGR of 5.75% from 2024 to 2030
Actual data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players of Active Pharmaceutical Ingredients Market

• Reddy’s Laboratories Ltd.
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.
• Cipla Inc.
• AbbVie Inc.
• Aurobindo Pharma
• Sandoz International GmbH (Novartis AG)
• Viatris Inc.
• Fresenius Kabi AG
• STADA Arzneimittel AG

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About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

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