Active pharmaceutical ingredients market Share, Trends, Applications and Competitive Landscape Till 2027

Market overview

Looking at the latest market developments and trends, the active pharmaceutical ingredients (API) market was valued at approximately USD 177.05 billion in 2019. The current scenario suggests that the global market is expected to reach USD 258.60 billion by 2028. The market is projected to be registering a CAGR of nearly 7.50% during the forecast period.

In 2020, the COVID-19 pandemic outbreak had a favorable impact on the functions undertaken by the global market as the countries and major players are manufacturing high amounts of ingredients to maintain demand for the treatment of COVID-19. The COVID-19 pandemic outbreak has led drug manufacturers to redirect their models to focus on a larger pool of patients.

Market segmentation

Active pharmaceutical ingredients (API) cannot be considered part of any drug that produces its effects. Some drugs, like combination therapies, have multiple active ingredients to treat different symptoms or act in different ways. They are produced using highly technological industrial processes that require high investments during the research and development and the commercial production phase. The active pharmaceutical ingredients (API) market is segmented into captive API and merchant API based on the business model. Further, it is segmented based on the synthesis type into synthetic and biotech and based on the type of drug into generic and branded. The application segment of the market includes cardiology, pulmonology, oncology, ophthalmology, neurology, orthopedic, and other applications.

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Regional analysis

North America currently dominates the market for active pharmaceutical ingredients and is expected to continue its stronghold for a few more years. This region is expected to increase its market share due to the increasing incidences of disease and the rising aging population. The US holds the majority of the global market share in the North American region.

With the drastic spread of COVID-19 in the country, followed by the rising fatalities and other issues, the demand for drugs and ingredients increased, forcing the country to export many APIs from different countries, and local players also produced as per the demand. Most of its API requirements are met through imports that are done from the Asian markets. The US trade statistics suggest that nearly 75-80% of the APIs imported to the US are from China and India. These countries are projected to have well-established manufacturing facilities and a large talent pool serving the pharmaceutical sector.

The US government’s has announced recent political and trade policies to increase import duties and taxes are expected to drive operational costs and increase the pricing pressure on manufacturers. The FDA has also increased the application fees related to the new drug approvals and has increased the number of periodic inspections conducted on various off-shore contract manufacturing facilities to ensure the supply of high-quality products to the US market.

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Industry news

The launches of new drugs and biological products, acquisitions, collaborations, and regional expansions are some of the companies’ strategic initiatives to maintain stability in the market. It is likely to fuel market growth shortly. For instance, in 2020, Quartic.ai and Bright Path Labs have entered into a collaboration to develop AI-based technology for the continuous manufacturing of critical APIs required for producing crucial small-molecule drugs.

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