DUBLIN--(BUSINESS WIRE)--The "Active Pharmaceutical Ingredient (API) Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), by Product (Vaccines, Hormones), Drug (OTC, Rx), Application (Diabetes, Oncology, CVD) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global active pharmaceutical ingredients market is projected to reach USD 248.3 billion by 2025 from USD 187.3 billion in 2020, at a CAGR of 5.8% during the forecast period.
Growth in the active pharmaceutical ingredients market is primarily driven by factors such as growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), rising geriatric population, and the growing prevalence of respiratory diseases and alpha-1-antitrypsin deficiency (AATD). However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market to a certain extent during the forecast period.
Biotech APIs segment is expected to grow at the highest CAGR during the forecast period
On the basis of type of synthesis, the APIs market is categorized into synthetic APIs and biotech APIs. The synthetic APIs segment is estimated to account for the largest share in 2019. However, the biotech APIs segment is expected to grow at a higher rate over the forecast period. Factors such as growing demand of biotech drugs due to their specificity in action, advancements in biotechnology, increase in the demand for monoclonal antibodies and their similarity with the natural biological compounds found in the human body influence the growth of this segment.
Monoclonal antibodies segment is expected to account for the largest share of the global APIs market, by product type.
Based on product, the biotech APIs market is segmented into monoclonal antibodies, hormones, cytokines, fusion proteins, therapeutic enzymes, vaccines and blood factors. In 2019, the monoclonal antibodies segment is estimated to account for the largest share of the APIs market. A large share of monoclonal antibodies is due to their rising application in oncology and other therapeutic areas, increase in the number of FDA approvals for innovative biopharmaceutical products and increasing investments and technical advances in R&D for development of various novel products.
North America will dominate the market during the forecast period.
Geographically, the active pharmaceutical ingredients market is segmented into North America, Europe, Asia, and rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and Asia. The major factors driving the overall growth of the APIs market in this region include the growing prevalence of preventable chronic diseases, increasing government emphasis on generic drugs, escalating demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs.
- Increasing Incidence of Chronic Diseases
- Technological Advancements in Api Manufacturing
- Growing Importance of Generics
- Increasing Uptake of Biopharmaceuticals
- Growing Adoption of Ai-Based Tools for Drug Discovery
- Adoption of Organ-On-Chip Models in Drug Development
- Focus on Precision Medicine
- Investments in Real-World Evidence by Pharmaceutical Companies
- Unfavorable Drug Price Control Policies
- High Manufacturing Costs
- Emerging Biosimilars Market
- Highly Potent Active Pharmaceutical Ingredients
- Emerging Markets
- Emerging Technologies
- Increasing Penetration of Counterfeit Drugs
- Pfizer, Inc.
- Novartis Ag
- Boehringer Ingelheim
- Bristol-Myers Squibb
- Teva Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Mylan N.V.
- Abbvie Inc.
- F. Hoffmann-La Roche Ltd.
- Dr. Reddy's Laboratories Ltd.
- Sun Pharmaceutical Industries Ltd.
- Cipla, Inc.
- API Pharma Tech
- BDR Pharmaceuticals International Pvt. Ltd.
- Sreepathi Pharmaceuticals Limited
- Shilpa Medicare Limited
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