Active Pharmaceutical Ingredients Market Is Anticipated To Witness Significant Growth Prospects With Rising CAGR By 2030Posted by Mrudula Anil Karmarkar on April 27th, 2023 The global active pharmaceutical ingredients market size is expected to reach USD 352.98 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.0% during the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical Ingredients (API) manufacturing, and an increase in the geriatric population. The growth of the captive API segment is propelled by companies investing in solving challenges and developing new chemical ways for the production of APIs in-house. This aids in reducing costs and the risk of contamination. Artificial intelligence and protein synthesis are expected to facilitate faster development with greater control over the process. The rising prevalence of chronic and lifestyle-based conditions, such as cardiovascular diseases, is accelerating the demand for API. For instance, as per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that supports cardiovascular disease development. Cardiovascular diseases are one of the global, critical public health burdens driving extensive R&D for APIs in the field. The active pharmaceutical Ingredients market was positively influenced by the COVID-19 pandemic, as countries and significant players produce large quantities of components to meet the demand for the treatment of COVID-19. As a result of the outbreak, drug companies have changed the companies’ strategies to focus on a larger patient population. To treat coronavirus, the U.S., for example, requested that HCQ be imported from India. The virus has also impacted Canada's medicine supply system, potentially causing complications for patients. The increasing importance of generics, rise in consumption of biopharmaceuticals, and expanding drug research and development activities for drug manufacturing are the primary drivers driving the growth of the market. However, the market's expansion is likely to be hampered by unfavorable drug price control regimes in several countries and high manufacturing costs. Developing nations like India are receiving an increased preference in the market over dominant API market countries, like China, owing to geopolitical situations. Furthermore, India has quality raw materials and products, a large workforce, a vast distribution network, and government subsidies through the "Make in India" program. To address unmet medical needs, companies are collaborating to develop novel treatments. This allows firms to use their resources to aid in the development of products and enhance the supply chain. In November 2021, Merck & Co Inc. announced that it has acquired Acceleron Pharma, this acquisition would help Merck & Co to expand their cardiovascular portfolio and pipeline. To Request Sample Copy of this report, click the link: The growth can be attributed to the advancements in active pharmaceutical ingredient (API) manufacturing and the rising prevalence of chronic diseases, such as cardiovascular diseases and cancer. Favorable government policies for API production, along with changes in geopolitical situations, are boosting market growth. The API market is undergoing immense changes due to supply chain disruption by COVID-19. Countries such as India are being preferred over China for the export of API owing to geopolitical situations and the demand to reduce dependence on China for API products. Furthermore, governments of many countries have formulated plans and granted incentives to promote the production of API. Active Pharmaceutical Ingredients Market Report Highlights
The COVID-19 pandemic had a positive impact on the global APIs market. The pharmaceutical industry was an epicenter in treating symptoms related to COVID-19, including high fever, cough, and cold. Due to the increased popularity of the pharma industry during the pandemic, the active pharmaceutical ingredients market also witnessed growth during the period. Following the World Health Organization's declaration of the COVID-19 outbreak as a pandemic, a diverse group of renowned pharmaceutical and biopharmaceutical companies, as well as new startups, stepped forward to create therapies to combat the virus. Scientists discovered a list of compounds that target COVID-19. Currently, there are approximately 155 compounds in clinical trials and 45 molecules in preclinical development to combat COVID-19. Four vaccines have been repurposed for treatment against COVID-19, including Chloroquine, Hydroxychloroquine, Lopinavir & Ritonavir, and Remdesivir. In March 2020, WHO started a worldwide trial of the four COVID-19 medicines. Increased investment and research and development in pharmaceutical products will propel the growth of the market further. However, the coronavirus outbreak has caused global business and economic disruption. It is expected to have a short-term impact on the active pharmaceutical ingredients industry in the first quarter of 2020. The global geriatric population is rising. According to the UN, in 2018, the population aged 65 and above is anticipated to increase from 962 million in 2018 to 2.1 billion by 2050. Aging weakens the immune system and increases a patient’s susceptibility to acquiring infectious diseases. Moreover, impairment in body functions enhances the chances of getting other diseases, such as CVD and diabetes. List of Key Players in the Active Pharmaceutical Ingredients Market
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