Global Active Pharmaceutical Ingredients Market Outlook 2020-2030

Global Active Pharmaceutical Ingredients (API) Market Analysis 2020-2030

The global active pharmaceutical ingredients (API) market is anticipated to grow with a CAGR of 6.08% over the forecast period, i.e., 2021 - 2030. Factors such as the increasing number of generic drug approvals, followed by the growing demand for generic and biosimilar drugs, and the rising healthcare expenditure are anticipated to drive the growth of the market in the coming years. Moreover, factors such as the rising prevalence of chronic diseases worldwide, which is driving the need amongst the pharmaceutical drug manufacturers to develop advanced medicines to treat these diseases, is also expected to drive the demand for active pharmaceutical ingredients (APIs) in the coming years, and in turn, contribute to the growth of the market. The market is estimated to garner a revenue of near to USD 330 Billion by the end of 2030, up from a revenue of around USD 185 Billion in the year 2020.

The global active pharmaceutical ingredients (API) market is segmented by numerous segments, which include segmentation by type, synthesis type, therapeutic application, business mode, and by region. Based on therapeutic application, the market is segmented into communicable disease, oncology, diabetes, cardiovascular disease, musculoskeletal disorders, respiratory disorders, and other therapeutic applications. The cardiovascular disease segment is anticipated to garner the largest revenue of near to USD 70 Billion by the end of 2030, amongst all the other segments. Moreover, the segment generated a revenue of about USD 40 Billion in the year 2020.

On the basis of regional analysis, the global active pharmaceutical ingredients (API) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to garner the largest revenue of more than USD 125 Billion by the end of 2030 amongst the markets in all the other regions. Moreover, in the year 2020, the market in the region registered a revenue of around USD 70 Billion.

Some of the prominent industry leaders in the global active pharmaceutical ingredients (API) market that are included in our report are Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi-aventis Groupe, Boehringer Ingelheim International GmbH, Aurobindo Pharma, Dr. Reddy’s Laboratories Ltd., API Corporation, Bristol-Myers Squibb Company, KATSURA CHEMICAL CO., LTD., and others.