The active pharmaceutical ingredients global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Active Pharmaceutical Ingredients Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The active pharmaceutical ingredients market size has grown strongly in recent years. It will grow from $218.45 billion in 2023 to $233.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to advancements in drug development, expansion of generic drug market, globalization of pharmaceutical manufacturing, regulatory initiatives for drug safety, rise in contract manufacturing organizations (cmos), focus on precision medicine, emergence of biopharmaceuticals, global pandemics and health threats.
The active pharmaceutical ingredients market size is expected to see strong growth in the next few years. It will grow to $305.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing healthcare expenditure, increasing focus on rare diseases, expansion of biosimilars market, advancements in green chemistry, focus on continuous manufacturing, regulatory support for innovation, globalization of clinical trials, focus on sustainable and ethical practices. Major trends in the forecast period include digitalization of drug development, investment in advanced manufacturing technologies, apis for rare diseases and orphan drugs, regulatory scrutiny on quality, api serialization and traceability, biopharmaceuticals and biotechnology products.
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Scope Of Active Pharmaceutical Ingredients Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Active Pharmaceutical Ingredients Market Overview
Market Drivers –
The increasing incidence of chronic diseases is expected to propel the growth of the active pharmaceutical ingredients market going forward. Chronic disease is one that often lasts for three months or longer and may worsen with time. Cancer, heart disease, stroke, diabetes, and arthritis are the most prevalent chronic diseases. APIs are used in high-quality medications that address oncology, cardiology, neurology, orthopedic, and other illnesses. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), a Belgium-based global organization to advocate for the global treatment, control, and cure of diabetes, by 2030, the number of people with diabetes is expected to increase to 578 million, and 700 million by 2045. Nearly half of deaths from diabetes occur in adults under the age of 60, making it one of the top 10 killers. Therefore, increasing incidence of chronic diseases will drive the growth of the active pharmaceutical ingredients market.
Market Trends –
Technological advancement in the active pharmaceutical ingredients market is a key trend gaining popularity in the active pharmaceutical ingredients market. Major companies operating in the market are focusing on implementing innovative technologies and methods in the optimized production of APIs such as continuous flow chemistry, advancements in lyophilization, powder handling, and process control to sustain their position in the market. For instance, in May 2022, the companies such as NovAliX, a France-based clinical research organization focused on drug discovery, ALYSOPHIL SAS, a France-based developer of an innovative industrial strategy based on continuous flow chemistry, De Dietrich Process Systems, a France-based global provider of engineered systems, process solutions, and process equipment and Bruker, a US-based developer, producer, and seller of high-performance scientific equipment as well as analytical and diagnostic solutions have partnered to introduce an innovative method for producing active pharmaceutical ingredients (APIs). The PIPAc (Production Intelligente de Principes Actifs) project, which is based on a Smart Production of Active Ingredients model, aims to advance API manufacturing by severing the lengthy and frequently complex supply chains connected with pharmaceutical production and developing rapid-response mobile API production units that are prepared for global deployment. PIPAc will develop next-generation, autonomous, and optimized unit by fusing cutting-edge synthesis, continuous flow chemistry, and in-flow analysis with artificial intelligence.
The active pharmaceutical ingredients market covered in this report is segmented –
1) By Type: Innovative APIs (Active Pharmaceutical Ingredient), Generic APIs (Active Pharmaceutical Ingredient)
2) By Manufacturer: Captive Manufacturers, Merchant Manufacturers
3) By Type Of Drug: Prescription Drugs, Over-The-Counter Drugs
4) By Therapeutic Application: Communicable Diseases, Oncology, Diabetes, Cardiovascular Disease, Pain Management, Respiratory Diseases, Other Therapeutic Applications
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Regional Insights –
North America was the largest region in the active pharmaceutical ingredients market share in 2023. The regions covered in the active pharmaceutical ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the active pharmaceutical ingredients market report are Albemarle Corporation, Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Limited, AbbVie Inc., Teva Pharmaceutical Industries Limited, Cipla Limited, Boehringer Ingelheim International GmbH, Merck KGaA, Sun Pharmaceutical Industries Limited, Bristol-Myers Squibb Company, Mylan Pharmaceuticals ULC, BASF Corporation, Lupin Limited, Johnson & Johnson Services Inc., F. Hoffmann-La Roche AG, Pfizer Inc., Novartis International AG, Sanofi S.A, Viatris Inc., Cadila Pharmaceuticals Limited, Amneal Pharmaceuticals Inc., Apotex Inc., Sun Pharmaceutical Industries Ltd., Lonza Group AG, HPM Chemicals and Fertilizers Ltd., GlaxoSmithKline plc, Godrej Consumer Products, Roche Holding AG, Daiichi Sankyo Inc., Catalent Inc.
1. Executive Summary
2. Active Pharmaceutical Ingredients Market Report Structure
3. Active Pharmaceutical Ingredients Market Trends And Strategies
4. Active Pharmaceutical Ingredients Market – Macro Economic Scenario
5. Active Pharmaceutical Ingredients Market Size And Growth
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27. Active Pharmaceutical Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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