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Active Pharmaceutical Ingredient Market size is poised to cross USD 475 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of active pharmaceutical ingredient was over USD 236 Billion. The growth of the market can primarily be attributed to the higher prevalence of chronic diseases such as cardiovascular diseases, and cancer across the globe, the rising demand for pharmaceutical drugs, and increasing geopolitical changes. The prevalence of chronic diseases is so high that nearly 40 million people lose their lives annually, out of which, about 15 million of them are classified as premature globally.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
6% |
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Base Year Market Size (2022) |
USD 236 Billion |
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Forecast Year Market Size (2035) |
USD 475 Billion |
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Regional Scope |
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Application (Cardiology, Oncology, Pulmonology, Neurology, Ophthalmology)
The global active pharmaceutical ingredient market is segmented and analyzed for demand and supply by application into cardiology, oncology, pulmonology, neurology, ophthalmology, and others. Amongst these segments, cardiology is anticipated to obtain the largest market share during the forecast period. The growth of the segment is ascribed to the higher prevalence of heart diseases, the increasing old population with high blood pressure, growing obesity, and cholesterol issues leading to surgeries or death in severe cases. For instance, approximately 600,000 people die due to heart disease per year solely in the USA. Furthermore, the surge in the number of cardiac arrest, usage of cardiac implants and heart transplant procedures around the world which require surgical procedures also brings the need for active pharmaceutical ingredients which in turn is anticipated to fuel segment growth.
Synthesis Type (Biotech, Synthetic)
The global active pharmaceutical ingredient market is also segmented and analyzed for demand and supply by biotech and synthetic. Out of these, the synthetic segment is attributed to garnering the highest market share during the forecast period. Owing to the great advantages of synthetic active pharmaceutical ingredients including the low production cost of chemically synthesized ingredients coupled with the reduced cost of raw materials are considered to be major factors anticipated to impetus a significant revenue generation. Furthermore, the easy process of developing these synthetic active pharmaceutical ingredients is considered to be another growth factor for segment expansion in the upcoming years. On the other hand, the biotech segment is also projected to hold a significant market share by growing at a steady CAGR value. The main factor for segment growth is the escalation in the demand for biopharmaceuticals along with the increased number of innovations in biologics to address the unmet medical needs for diseases. Also, the biotech segment attracts big pharmaceutical enterprises and major key players owing to the increased number of FDI approvals for biological drugs and medicines including vaccines, blood components, and recombinant proteins. Hence, all the factors add up to propel segment growth.
Our in-depth analysis of the global active pharmaceutical ingredient market includes the following segments:
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By API Type |
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By Synthesis Type |
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By Application |
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North America Market Forecast
The North American active pharmaceutical ingredient market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market in the region can be accounted for by the higher prevalence of cardiovascular diseases. Data provided by the Centers for Disease Control and Prevention stated that every 34 seconds, 1 person dies due to cardiovascular diseases in the USA while in 2020, 697,000 lost their lives due to a similar reason. Furthermore, recent policies of the U.S. government and rising healthcare infrastructure in the region, the rising number of novel drugs, and increasing molecular entities that go off-patent are also anticipated to propel the growth of the market over the forecast period. Furthermore, the presence of a strong healthcare network in the region along with rising healthcare expenditures is also anticipated to boost the market growth.
Asia Pacific Market Forecast
On the other hand, the Asia Pacific active pharmaceutical ingredient market is also projected to hold a significant market share with a noteworthy CAGR over the forecast period. The major factor for market growth is the growing geriatric population coupled with the presence of a large patient pool in the region. In addition, favorable policies by the regulatory bodies that promote the market players to opt for an active pharmaceutical ingredient for timely treatment and supportive reimbursement policies are also expected to contribute to the market growth in the region. In addition, the region's expanding healthcare industry is also expected to boost active pharmaceutical ingredient market growth during the forecast period.
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Abbott Laboratories to collaborate with WW International, Inc. to integrate WeightWatchers, a weight management program, to provide requisite assistance to people diagnosed with diabetes and improvise their health issues.
Author Credits: Radhika Gupta, Shivam Bhutani
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