Global Active Pharmaceutical Ingredients (API) Market to Reach US$ 357.0 Billion by 2032, Impelled by Emerging Pharmaceutical Industry

April 26, 2023 | Healthcare

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According to the latest report by IMARC Group, titled "Active Pharmaceutical Ingredients (API) Market Report by Drug Type (Innovative Active Pharmaceutical Ingredients (API), Generic Active Pharmaceutical Ingredients (API)), Type of Manufacturer (Captive Manufacturers, Merchant API Manufacturers), Type of Synthesis (Synthetic Active Pharmaceutical Ingredients (API), Biotech Active Pharmaceutical Ingredients (API)), Therapeutic Application (Oncology, Cardiovascular and Respiratory, Diabetes, Central Nervous System Disorders, Neurological Disorders, and Others), and Region 2024-2032," the global active pharmaceutical ingredients (API) market size reached US$ 234.7 Billion in 2023. Active pharmaceutical ingredients (API) refer to the biological component of a prescription or an over-the-counter (OTC) medication. This biologically active element represents the primary ingredient of numerous types of pharmaceutical drugs that produce its intended health effects. Besides this, it also helps healthcare providers to recognize the distinction between generics and brand name versions in order to avoid accidental overdoses and harmful interactions. Some of the popular APIs include amoxicillin, metformin, levothyroxine, atorvastatin, gabapentin, amlodipine, fluoxetine and albuterol. With the rising demand for effective treatments and pharmaceutical drugs among the masses, there has been a considerable increase in the overall API market across the globe.

Global Active Pharmaceutical Ingredients (API) Market Trends:

The global market is primarily driven by significant growth in the pharmaceutical industry. Coupled with the growing prevalence of numerous chronic illnesses, this is significantly supporting the demand for APIs across the globe. Apart from this, extensive research and development (R&D) activities conducted by key players to introduce improved product variants, such as highly potent active pharmaceutical ingredients, are creating a positive market outlook. The rapid advancements in the pharmaceutical industry during the pandemic have also provided an impetus to the active pharmaceutical ingredients market on the global level. Moreover, continual technological advancements in the field of biotechnology and life science are impacting the market favorably. Furthermore, the escalating number of research centers and scientific laboratories and the rising number of clinical trials are considered to be major growth-inducing factors. Other factors, including rapid urbanization, the increasing geriatric population and heavy spending by public and private agencies for upgrading the overall healthcare infrastructure, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 357.0 Billion by 2032, exhibiting a CAGR of 4.6% during 2024-2032.

Market Summary:

On the basis of the drug type, the market has been segmented into innovative active pharmaceutical ingredients (API) and generic active pharmaceutical ingredients (API).
Based on the type of manufacturer, the market has been bifurcated into captive manufacturers and merchant API manufacturers (innovative merchant API and manufacturers and generic merchant API manufacturers).
On the basis of the type of synthesis, the market has been categorized into synthetic active pharmaceutical ingredients and biotech active pharmaceutical ingredients.
Based on the therapeutic application, the market has been segmented into oncology, cardiovascular and respiratory, diabetes, central nervous system disorders, neurological disorders and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America, and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Pfizer, Inc., Novartis International AG, Sanofi, Boehringer Ingelheim, Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., ELI Lilly and Company, GlaxoSmithKline, Merck & Co., Inc. and Abbvie Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Drug Type, Type of Manufacturer, Type of Synthesis, Therapeutic Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia
Companies Covered	Pfizer, Inc., Novartis International AG, Sanofi, Boehringer Ingelheim, Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., ELI Lilly and Company, GlaxoSmithKline, Merck & Co., Inc. and Abbvie Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Active Pharmaceutical Ingredients (API) Market to Reach US$ 357.0 Billion by 2032, Impelled by Emerging Pharmaceutical Industry

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