Synthetic Small Molecule API Market Rising At A CAGR Of 5.73% From 2022 to 2030Posted by Neha Bora on August 24th, 2023 San Francisco, 24 Aug 2023: The Report Synthetic Small Molecule API Market Size, Share & Trends Analysis Report By Manufacturer (In-house, Outsourced), By Application (Cardiology, Oncology), By Region, And Segment Forecasts, 2022 - 2030 The global synthetic small molecule API market size is expected to reach USD 217.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.73% from 2022 to 2030. This can be attributed to the increasing demand for pharmaceuticals and new small molecule-based drugs globally. Moreover, small molecules API offers versatility between dosage forms and has an easier means of purification, which makes it more acceptable and increases the demand. There is an increasing dominance of synthetic drugs in the pharmaceutical industry, which is expected to propel the requirement of raw materials such as small molecule APIs for production. Moreover, technological advancements related to the enhancement of existing products are expected to provide new opportunities for small molecule therapeutics. For instance, in March 2022, Evonik launched the new EUDRATECSoluFlow technology that enhances the solubility of oral small molecules. The market is driven by positive government support for the production of APIs in various regions, particularly in Asia, where the majority of API manufacturers are dependent on the supply of API for the production of synthetic small molecule APIs. There has been an increasing focus on outsourcing activities for API production. For instance, in April 2020, for managing COVID-19, Wavelength Pharmaceuticals expanded the supply of key drug ingredients for certain pharmaceutical products needed to manage respiratory critical care patients and launched API CDMO services. Emerging markets such as China, India, and Southeast Asia represent significant opportunities for growth. The investment in new and complex technologies is relatively low for Asian manufacturers as they are more focused on less complex molecules that can be produced in bulk. Thus, the investment in high-yielding, low-cost technologies is an alternative for manufacturers in other developed regions such as Europe and North America to avoid competitive pressure. Key players operating in the market are focusing on collaboration for the production of potent API products. For instance, in August 2021, Almac Sciences signed an agreement with Pila Pharma for the production of the API XEN-D0501, a highly potent and selective small molecule TRPV1 antagonist. Moreover, CDMOs are constantly evolving by expanding their capacities to meet the heightened demand for synthetic drugs. For instance, in April 2022, AGC Inc. announced the expansion of its Spanish facility by 7500 m2 for synthetic pharmaceutical production, which is expected to enhance the demand for synthetic small molecule active pharmaceutical ingredients in the region. Access Research Report of Synthetic Small Molecule API Market @ https://www.grandviewresearch.com/industry-analysis/synthetic-small-molecule-api-market-report Synthetic Small Molecule API Market Report Highlights
Synthetic Small Molecule API Market Report Scope
List of Key Players of Synthetic Small Molecule API Market
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