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Active Pharmaceutical Ingredients Market Size

  • Report ID: GMI5415
  • Published Date: Jan 2023
  • Report Format: PDF

Active Pharmaceutical Ingredients Market Size

Active Pharmaceutical Ingredients Market size was valued at over USD 228.5 billion in 2022. Driven by the increasing prevalence of chronic diseases, the industry is estimated to expand at more than 6.5% CAGR from 2023 to 2032.

 

Active Pharmaceutical Ingredients Market

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Increasing uptake of biopharmaceuticals is anticipated to fuel active pharmaceutical ingredients market progress. The popularity of biopharmaceuticals due to their ability of addressing previously incurable disorders has provided lucrative opportunities for new medications and R&D initiatives focusing on rare diseases. For instance, in 2022, Bluebird Bio, Inc. received FDA approval for its SKYSONA (elivaldogene autotemcel), dedicated to deaccelerating the progression of neurologic dysfunction with individuals suffering from cerebral adrenoleukodystrophy (CALD).

 

Furthermore, rising drug R&D initiatives by public and private players, fueled by growing government investments, are also benefitting the industry outlook. In June 2022, Evonik, specialty chemicals firm, together with the U.S. government, invested over USD 220 million in extending lipid production capacity for mRNA-based therapies in the country.

 

Dynamic pricing policies may restrain industry progression

Unfavorable drug price control policies is a major factor restraining the market development. These policies may appear to be cutting costs and improving access to medications and biopharmaceuticals, but they impact drug producers by slowing both their top and bottom-line growth. Nonetheless, in the coming years, consistent efforts by price regulators are speculated to support in overcoming this issue. Citing an instance, the National Pharmaceutical Pricing Authority of India allowed a 50% price hike for three drugs due to the high prices of APIs in them.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for active pharmaceutical ingredients recorded over USD 228.5 billion valuation in 2022 and is set to progress at more than 6.5% CAGR from 2023 to 2032 owing to rising drug R&D initiatives by public and private players.

Human segment is anticipated to cross USD 381 billion in revenue by 2032 end, due to the rising number of pharmaceutical R&D initiatives and innovation of cutting-edge medications with important clinical advantages.

Prescription segment is poised to expand at over 7% CAGR between 2023 and 2032 as a result of growing demand for medications for chronic diseases such as oncology, diabetes, cardiovascular diseases among others.

Europe APIs market is slated to reach over USD 119.5 billion by 2032 on account of the evolution of personalized medications, development of new high-tech therapies, and inventive delivery systems in the region.

Active Pharmaceutical Ingredients Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 423
  • Countries covered: 28
  • Pages: 295
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