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Oncology Active Pharmaceutical Ingredient (API) Market Analysis by APIs (Innovative Oncology APIs and Generic Oncology APIs); by Manufacturer Type (Captive and Merchant); and by Type of Cancer (Breast, Cervical, Lung, Liver, Colorectal, 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

  • June 24, 2022 - AbbVie Inc. conducted a survey, Emotional Impact Report, and released the findings from it. This survey included more than 300 chronic lymphocytic leukemia patients that grow out of blood cancer. The survey also offered mental and emotional support to patients living with slow-growing blood cancer.

  • August 11, 2022 Abbott Laboratories to emerge in a study published in the Lancet Neurology to elaborate on the capability of two blood-based biomarkers to predict the results from traumatic brain injury (TBI) and inform treatment interventions.

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

Oncology Active Pharmaceutical Ingredient (API) Market CAGR Chart To 2031

The global oncology 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 be estimated to the higher prevalence of cancer across the globe. Based on the report published by World Health Organization (WHO) it was stated that in 2020, approximately 10 million deaths were caused by cancer.

Oncology Active Pharmaceutical Ingredient (API) Market Size Overview Chart

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Oncology-active pharmaceutical ingredients are the substances that are found in anti-cancer drugs. Global oncology active pharmaceutical ingredient (API) market trends such as growing consumption of pain relievers and ongoing multiple R&D activities are further estimated to influence the market growth positively during the forecast period. It is observed that 1 out of 5 individuals suffers from chronic pain. The higher demand for oncology-active pharmaceutical ingredients is attributed to their efficacy and performance on the targeted cancerous cells. Thereby, all these factors are projected to fuel the market growth over the forecast period.

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

Growth Drivers

  • Increasing Consumption of Tobacco and Cigarettes - As of 2020, about 12 out of 100 adults in the USA were noticed to be smoking cigarettes. Tobacco and cigarettes are the leading cause of cancer and they are still highly consumed by adults. The prevalence of tobacco and cigarette consumption is generally high in every region. Hence, such a mounting consumption is estimated to foster the growth of the market during the forecast period.

  • Mounting Number of Geriatric Population- According to the data released by the World Bank. The number of geriatrics was noticed to be 747,238,580 in 2021.

  • Growing Healthcare Expenditure per Capita- A rise in the global healthcare expenditure is observed in recent decades, for instance, in 2019, it reached approximately 1100 U.S. dollars per capita.

  • Higher Prevalence of Medication Errors- For instance, reports of medication errors received by the U.S. FDA were stated to be more than 100,000 in 2019.

Challenges

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

The global oncology active pharmaceutical ingredient (API) market is segmented and analyzed for demand and supply by type of cancer into breast, cervical, lung, liver, colorectal, and others. Amongst these segments, the breast cancer segment is projected to acquire the largest market share over the forecast period on the back of rising cases of breast cancer. World Health Organization showed that in 2020 around 2.26 million cases of breast cancer were diagnosed across the globe.

Major Macro-Economic Indicators Impacting the Market Growth

Oncology Active Pharmaceutical Ingredient (API) Market Regional Growth By 2031

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 Oncology Active Pharmaceutical Ingredient (API) Market Regional Synopsis

Regionally, the global oncology 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 North America region is projected to hold the largest market share by the end of 2031. The growth of the market in the region is accented to the mounting prevalence of cancer. Data published by the Centers for Disease Control and Prevention showed that in 2019, 1,752,725 new cases of cancer were diagnosed while 599,589 people lost their lives due to cancer in a similar year. Additionally, the rising geriatric population and developing healthcare infrastructure are further expected to hike the growth of the market over the forecast period. Figures provided by the World Bank showed that in 2021, the number of geriatrics in the USA reached 56,545,938.

Oncology Active Pharmaceutical Ingredient (API) Market Share 2031

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The global oncology 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 oncology active pharmaceutical ingredient (API) market includes the following segments:

By APIs

  • Innovative Oncology APIs
  • Generic Oncology APIs

 

By Manufacturing Type

  • Captive
  • Merchant

 

 

By Type of Cancer

  • Breast
  • Cervical
  • Lung
  • Liver
  • Colorectal
  • Others

 

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

  • Merck & Co. Inc.
  • Pfizer Inc.
  • Abbott Laboratories
  • Sun Pharmaceutical Industries Ltd.
  • Novartis AG
  • Mylan N.V.
  • GSK plc
  • AbbVie Inc.
  • Teva Pharmaceutical Industries Ltd.
  • Eli Lilli and Company

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