Active Pharmaceutical Ingredient Market Growth: Market Share Analysis and Outlook
The Active Pharmaceutical Ingredient [API] Market size is expected to reach USD 347.92 billion by 2030 and its Size was valued at USD 211.81 billion in 2022, and grow at a CAGR of 6.4% over the forecast period 2023-2030.
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The Active Pharmaceutical Ingredient (API) market is a crucial component of the pharmaceutical industry. APIs are the biologically active components responsible for the therapeutic effects of drugs. They are the key ingredients that make medications effective in treating various diseases and conditions.
The API market has witnessed significant growth in recent years, driven by factors such as increasing prevalence of chronic diseases, rising geriatric population, and advancements in drug development technologies. As the demand for innovative and effective medications continues to rise, so does the need for high-quality APIs.
One notable trend in the API market is the shift towards outsourcing API manufacturing to contract manufacturing organizations (CMOs). This allows pharmaceutical companies to focus on their core competencies such as research and development, while relying on specialized CMOs for efficient and cost-effective production of APIs. This trend has led to increased competition among CMOs, driving them to invest in state-of-the-art facilities and technologies to meet the growing demand.
KEY MARKET SEGMENTS
- Innovative APIs
- Generic APIS
By Type of Synthesis
- Communicable Diseases
- Cardiovascular Disease
- Pain management
- Respiratory Diseases
Major Players Listed in the Report are as Follows:
Aurobindo Pharma, Bristol Myers Squibb, Eli Lilly and Company, BASF SE, Cipla, Abbvie Inc., Boehringer Ingelheim GmbH, Dr. Reddy’s Laboratories Ltd, Albemarle Corporation, Viatris Inc and Other Players
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