Pharmaceutical API Manufacturing Global Market Report 2022: Sector to Reach $248 Billion by 2026 at a 6% CAGR
DUBLIN , Jan. 25, 2023 /PRNewswire/ -- The "Pharmaceutical API Manufacturing Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the pharmaceutical API manufacturing market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
The global pharmaceutical API manufacturing market reached a value of nearly $184,949.84 million in 2021, having grown at a compound annual growth rate (CAGR) of 5.08% since 2016. The market is expected to grow from $184,949.84 million in 2021 to $248,026.93 million in 2026 at a rate of 6.04%. The market is then expected to grow at a CAGR of 5.89% from 2026 and reach $330,161.93 million in 2031
Growth in the historic period resulted from an increase in pharmaceutical R&D expenditure, increasing preference for outsourcing APIs, growing prevalence of chronic illness, increased healthcare expenditure, a rise in disposable income, an increase in patent expiration and growing government policies for API production. Factors that negatively affected growth in the historic period were stringent regulations for approval of pharmaceutical drugs, pricing pressures from regulators, coronavirus pandemic and high competition between API manufacturers.
Going forward, a rise in ageing population, rapid technological advancements, rising prevalence of cancer, increasing mergers and acquisitions and high potential of emerging economies will drive the growth. Factors that could hinder the growth of the pharmaceutical API manufacturing market in the future include rising popularity of alternative therapies and natural remedies, high cost of API and drug development with threat of failure and Russia-Ukraine war.
The pharmaceutical API manufacturing market is segmented by therapy area into cardiovascular disorders, metabolic disorders, neurological disorders, oncology, musculoskeletal disorders and other therapeutics uses. The other therapeutics uses market was the largest segment of the pharmaceutical API manufacturing market segmented by therapy area, accounting for 45.57% of the total in 2021. Going forward, the oncology segment is expected to be the fastest growing segment in the pharmaceutical API manufacturing market segmented by therapy area, at a CAGR of 8.44% during 2021-2026.
The pharmaceutical API manufacturing market is segmented by API type into chemical API and biological API. The chemical API market was the largest segment of the pharmaceutical API manufacturing market segmented by API type, accounting for 71.89% of the total in 2021. Going forward, the biological API segment is expected to be the fastest growing segment in the pharmaceutical API manufacturing market segmented by API type, at a CAGR of 7.00% during 2021-2026.
The pharmaceutical API manufacturing market is also segmented by drug type into prescription drugs and over-the-counter (OTC) drugs. The prescription drugs market was the largest segment of the pharmaceutical API manufacturing market segmented by drug type, accounting for 88.20% of the total in 2021. Going forward, over-the-counter (OTC) drugs segment is expected to be the fastest growing segment in the pharmaceutical API manufacturing market segmented by drug type, at a CAGR of 6.58% during 2021-2026.
Asia Pacific was the largest region in the pharmaceutical API manufacturing market, accounting for 36.71% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the pharmaceutical API manufacturing market will be Asia Pacific and North America where growth will be at CAGRs of 6.63% and 6.24% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 6.05% and 5.37% respectively.
Market-trend-based strategies for the pharmaceutical API manufacturing market include focus on production facility expansion, use of artificial intelligence (AI), focus on greener API manufacturing, increasing investments and focus on use of QR code labelling.
Player-adopted strategies in the pharmaceutical API manufacturing market include focus on launching new research centers, focus on expanding business presence by increasing investments and focus on customer service.
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
7.1. Focus On Production Facility Expansion
7.2. Use Of Artificial Intelligence (AI)
7.3. Greener API Manufacturing
7.4. Increasing Investments
7.5. QR Code Labelling
8. Global Market Size And Growth
9. Global Market Segmentation
10. Global Market, Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Pipeline Analysis
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Pharmaceutical API Manufacturing Market, Conclusions And Recommendations
24. Copyright and Disclaimer
A selection of companies mentioned in this report includes
- Pfizer Inc.
- Sanofi S.A
- Teva Pharmaceutical Industries Ltd.
- Aurobindo Pharma
- Dr. Reddy's Laboratories
For more information about this report visit https://www.researchandmarkets.com/r/sdnl0c
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SOURCE Research and Markets