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Active Pharmaceutical Ingredient (API) Market Analysis by API Type (Branded and Generic); by Synthesis Type (Biotech and Synthetic); and by Application (Cardiology, Oncology, Pulmonology, Neurology, Ophthalmology, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • August 5, 2022 - Pfizer Inc. acquires U.S. FDA approval along with Myovant for MYFEMBREE, a once-daily treatment for premenopausal women with endometriosis to reduce non-menstrual and menstrual pain. Additionally, both the companies are jointly commercializing MYFEMBREE with immediate product availability.

  • August 4, 2022 – Abbott Laboratories to collaborate with WW International, Inc. to integrate WeightWatchers, a weight management program, for providing requisite assistance to people diagnosed with diabetes and improvising their health issues.

Global Active Pharmaceutical Ingredient (API) Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Active Pharmaceutical Ingredient (API) Market Forecast Chart

The global active pharmaceutical ingredient (API) market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated substantial revenue in the year 2021. The growth of the market can primarily be attributed to the higher prevalence of chronic diseases across the globe. 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. 

Active Pharmaceutical Ingredient (API) Market Overview Chart

Active pharmaceutical ingredients, also known as bulk drugs, are utilized by doctors and consumers to acquire the intended result. global active pharmaceutical ingredient (API) market trends such as rising demand for personalized medicine and outbreak of COVID-19 are estimated to fuel the growth of the market over the forecast period. As of August 2022, around 6000 million cases of COVID-19 were noticed across the globe, meanwhile, 60 million people died due to COVID-19 in a similar duration. Hence all these factors are anticipated to influence the growth of the market positively over the forecast period.

Global Active Pharmaceutical Ingredient (API) Market: Growth Drivers and Challenges

Growth Drivers

  • Escalating Geriatric Population- Data provided by the World Bank showed that there were 747,238,580 people aged 65 and above in 2021. People of elderly age are more likely to get sick or acquire chronic diseases since the body becomes weak with the passing of time. Geriatrics are more dependent on medicines than adults. Hence, this factor is projected to hike the growth of the market over the forecast period.

  • Spiking Cases of Medication Errors- U.S. FDA stated in 2019, that it receives over 100,000 reports of medication errors annually. Additionally, over 6 million patients in the USA get affected by some sort of medication error every year.

  • Higher Utilization of APIs to Treat Diabetes- A report published by the International Diabetes Federation (IDF) estimated the number of people living with diabetes to reach 643 million by 2030.

  • Spiking Prevalence of Cardiovascular DiseasesCardiovascular diseases are very prevalent worldwide, for instance, approximately 18 million people die annually due to some sort of cardiovascular disease.

  • Increasing Healthcare Expenditure Per Capita 32- The global healthcare expenditure is projected to rise Y-O-Y reaching about 1100 U.S. dollars per capita in 2019.

Challenges

  • Higher Price Associated with the Manufacturing Process
  • Possibilities of Side-Effects 
  • Lack of Awareness among the Global Population

The global active pharmaceutical ingredient (API) 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. For instance, approximately 600,000 people die due to heart diseases per year solely in the USA.

Major Macro-Economic Indicators Impacting the Market Growth

Active Pharmaceutical Ingredient (API) Market Growth By Year

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Active Pharmaceutical Ingredient (API) Market Regional Synopsis

Regionally, the global active pharmaceutical ingredient (API) market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031. The growth of the market in the region can be accounted to the higher prevalence of cardiovascular diseases. Data provided by the Centers for Disease Control and Prevention it was 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 USA government and rising healthcare infrastructure in the region are also anticipated to propel the growth of the market over the forecast period. 

Active Pharmaceutical Ingredient (API) Market Share Chart

The global active pharmaceutical ingredient (API) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global active pharmaceutical ingredient (API) market includes the following segments:

 

By API Type

  • Branded
  • Generic

 

By Synthesis Type

  • Biotech
  • Synthetic

 

By Application

  • Cardiology
  • Oncology
  • Pulmonology
  • Neurology
  • Ophthalmology
  • Others

Top Featured Companies Dominating the Global Active Pharmaceutical Ingredient (API) Market

  • Teva Pharmaceutical Industries Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Pfizer Inc.
  • Abbott Laboratories
  • AbbVie Inc.
  • Mylan N.V.
  • GSK plc
  • Eli Lilli and Company
  • Sun Pharmaceutical Industries Ltd.
  • Novartis AG
  • Merck & Co. Inc.

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