Active Pharmaceutical Ingredient [API] Market Set to Surge to US$ 371.06 Bn By 2032, Rising Trends Towards Personalized Medicine Boost the Growth of API

The Active Pharmaceutical Ingredient (API) market is set for substantial growth, propelled by rising chronic disease rates, increased generic drug production, and advancements in biotechnology and nanotechnology improving drug delivery systems.

Pune, July 05, 2024 (GLOBE NEWSWIRE) — Active Pharmaceutical Ingredient Market Analysis:

“According to SNS Insider Research, The Active Pharmaceutical Ingredient Market is valued at USD 239.45 Billion in 2023 and is anticipated to surpass USD 371.06 Billion by 2032, with a compound annual growth rate of 5.37% over the forecast period 2024-2032.”

Growth of the Biopharmaceutical Sector and an Increase in Elderly Population Propelled the Active Pharmaceutical Ingredient Market

Earlier chronic, communicable, and genetic diseases are likely to become more common as life expectancy increases worldwide will increase the improvement in global API demand. For example, the International Diabetes Federation (IDF) reports that as of 2022 there are estimated diabetic cases to increase up to 643 million and then later on potentially will rise even more! “784” Million comes from projections by the year “2030” & “2045”.

In December 2023, following a report around 1.3 million people in Australia had diabetes in 2022, which was equivalent to the prevalence of type-2 diabetes at about one-fifth or more than five percent. Thus, peripheral neuropathy occurs when high blood sugar from diabetes injures the nerves that control the heart and blood vessels which further may cause different cardiovascular diseases such as coronary artery disease & stroke due to constricted arteries resulting in the need for drug administration consequently driving up API market expansion.

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Major Players Analysis Listed in this Report Are:

  • Aurobindo Pharma
  • Bristol Myers Squibb
  • Eli Lilly and Company
  • BASF SE
  • Cipla
  • Abbvie Inc.
  • Boehringer Ingelheim GmbH
  • Dr. Reddy’s Laboratories Ltd
  • Albemarle Corporation
  • Viatris Inc
  • Other Players

Moreover, a growing development of biosimilar and biologic drugs for new therapeutic classes coupled with the upcoming clinical trials solicit companies to undertake appropriate strategic steps to manufacture as well as develop APIs leading towards growth-enhancing prospects within the Active Pharmaceutical Ingredients Market. In yet another example, in September 2022 CuraTeQ Biologics (a wholly owned subsidiary of Aurobindo Pharma) invested around INR 300 Crore (~USD$3.82Mn) to expand capacity at biologics manufacturing facilities(arguments).

Further, it was approved to engage in the contract manufacturing of biologicals. Likewise, in September 2022, Novartis spent $300 million to further upgrade its biological drug production and development. Investments being made to enhance biologic manufacturing and increasing approvals of drugs are expected will drive the adoption in developed as well as developing countries, thereby driving demand for APIs used in drug preparation worldwide.

Active Pharmaceutical Ingredient [API] Market Report Scope:

Report Attributes Details
 Market Size in 2023  US$ 239.45 Billion
 Market Size by 2032  US$ 371.06 Billion
 CAGR  CAGR of 5.37% From 2024 to 2032
Base Year  2022
Forecast Period  2024-2032
Historical Data  2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Growth Drivers • Prevalence of Chronic diseases generating the need for active pharmaceutical ingredient
• An increase in demand for generic medicines is driving the active pharmaceutical ingredient market.

Segmentation Dynamics

The cardiology application segment accounted for the largest share in 2023 due to the increasing incidence of cardiovascular diseases worldwide. More than half a billion people suffer from CVD globally, and in 2021 it caused nearly 20.5 million deaths – one-third of total global mortality, according to the World Heart Report 2022. Nearly all investigational research into Active Pharmaceutical Ingredients (APIs) is driven by cardiovascular disease, which has become one of the most important global problems in public health. Simvastatin is a lipid-lowering agent of the statin class used in hyperlipidemia. Astra Zeneca uses one more API as an active analgesic for cardio sonic diseases and that is Rosuvastatin calcium.

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Over the years increasing number of cancer cases worldwide is one such notable health issue identified by most countries. Cancer prevalence increases exponentially with age, highlighting a critical need for efficient therapeutics. The oncology segment is projected to grow at the highest CAGR in the API Market during the projected timeframe due to rising cancer cases and awareness of early-stage treatment for the prevention of cancer. Exactly 1 year before, another study published by the Indian Journal of Medical Research conducted till March 2023 predicted that the Cancer burden could have gone up from the current level to over a million cancer cases. This data indicates an aggressive rise in several cancer cases across the country. However, the cancer incidence will surge even more over time during the forecast period leading to a greater exigency of API in formulating oncology drugs. Therefore, the market for APIs is anticipated to witness considerable effects throughout the forecast period.

Active Pharmaceutical Ingredient [API] Market Key Segmentation:

By Synthesis

  • Biotech APIs
    • By Type
      • Generic APIs
      • Innovative APIs
    • By Product
      • Monoclonal Antibodies
      • Hormones
      • Cytokines
      • Recombinant Proteins
      • Therapeutic Enzymes
      • Vaccines
      • Blood Factors
  • Synthetic APIs
    • By Type
      • Generic APIs
      • Innovative APIs

By Ingredients

  • Generic APIs
  • Innovative APIs

By Drug

  • Prescription
  • OTC

By Application

  • Cardiovascular Diseasest
  • Oncology
  • CNS and Neurology
  • Orthopedic
  • Endocrinology
  • Pulmonology
  • Gastroenterology
  • Nephrology
  • Ophthalmology
  • Others

Regional Analysis

North America is projected to dominate the market over the forecast period, on account of high occurrences of chronic diseases such as cancer, diabetes, and cardiovascular & neurological disorders coupled with the large geriatric population. Moreover, high healthcare expenditure and the presence of Manufacturer Aloke Biocomposites in the region are expected to drive market growth over the forecast period.

Due to the mounting prevalence of chronic ailments, there is an increasing demand for drugs, that can be efficiently utilized as treatment which is one more factor fueling the API Market. For example, in 2024 alone there are approximately the following new cancer cases expected to occur according to American Cancer Society statistics: in the United States total of 20,011,40 cases including gastrointestinal system: 353,820; breast: 313,510 and respiratory-related cancer: 252,950 cases.

Likewise, in July 2022 data from the Canadian Institute for Health Information revealed that approximately 2.4 million Canadians had heart disease come across June of the identical year. This drives the market of API for cancer and cardiovascular drugs manufacture which is expected to boost the growth of the North American API Industry.

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Competitive Landscape

The players operating in the market are Boehringer Ingelheim GmbH, Bristol Myers Squibb, Cipla, BASF SE, Abbvie Inc., Eli Lilly and Company, Dr. Reddy’s Laboratories Ltd, Albemarle Corporation, Viatris Inc, Aurobindo Pharma, and Other Players.

Recent Developments

  • In June 2023, Lonza acquired Synaffix to expand its ADC services offering.
  • In April 2023, Eli Lilly also committed a USD 1.6 billion investment in the U.S.-based LEAP Innovation Park. This brings the total investment to $3.7 billion for manufacturing complex APIs including those in products like genetic medicine.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Active Pharmaceutical Ingredient Market Segmentation, By Synthesis

8. Active Pharmaceutical Ingredient Market Segmentation, By Ingredients

9. Active Pharmaceutical Ingredient Market Segmentation, By Application

10. Active Pharmaceutical Ingredient Market Segmentation, By Drug

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

13.3.1 Industry News

13.3.2 Company News

13.3.3 Mergers & Acquisitions

14. Use Case and Best Practices

15. Conclusion

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