Global Active Pharmaceutical Ingredients (API) Market to Reach $265.3 Billion by 2026

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Active Pharmaceutical Ingredients (API) – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Global Active Pharmaceutical Ingredients (API) Market
Global Active Pharmaceutical Ingredients (API) Market

FACTS AT A GLANCE
Edition: 7; Released: September 2021
Executive Pool: 5211
Companies: 266 – Players covered include AbbVie, Inc.; AstraZeneca PLC; Boehringer Ingelheim International GmbH; Bristol-Myers Squibb Company; Eli Lilly and Company; F. Hoffmann-La Roche AG; GlaxoSmithKline PLC; Pfizer, Inc.; Sanofi; Teva Pharmaceutical Industries Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Type (Innovative, Generic); Synthesis (Synthetic, Biotech); Application (Cardiovascular Diseases, Endocrinology, CNS & Neurology, Oncology, Gastroenterology, Orthopedic, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Active Pharmaceutical Ingredients (API) Market to Reach US$265.3 Billion by the Year 2026
APIs represent biologically-active substances and primary components for drug manufacturing. The production of APIs globally is mainly concentrated to developing nations due to their capability to scale production as per customization and low-cost manufacturing. The API market is slated to gain from increasing focus on generic and branded drugs as a result of rising prevalence of non-communicable and chronic medical conditions due to lifestyle changes and rapid urbanization. The market growth is anticipated to be augmented further from the transition away from conventional manufacturing techniques, rising investment in drug discovery, and strong adherence to product quality. The market is also benefitting from increasing influx of generic drugs that are produced following permission of a pharmaceutical company for creating the own version of the medicine. The COVID-19 pandemic and the resulting disruptions in supply chain are driving various governments to boycott sourcing of APIs from China. Despite these challenges, the API market is bound to progress ahead swiftly due to positive factors like pending approval of various generic and blockbuster drugs that rely on APIs.

Amid the COVID-19 crisis, the global market for Active Pharmaceutical Ingredients (API) estimated at US$177.5 Billion in the year 2020, is projected to reach a revised size of US$265.3 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Innovative, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$190.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Generic segment is readjusted to a revised 7.4% CAGR for the next 7-year period. This segment currently accounts for a 30.2% share of the global Active Pharmaceutical Ingredients (API) market. As patents for branded APIs expire, opportunities for generic APIs increase, resulting in an augmented API market demand.

The U.S. Market is Estimated at $71.5 Billion in 2021, While China is Forecast to Reach $35.4 Billion by 2026
The Active Pharmaceutical Ingredients (API) market in the U.S. is estimated at US$71.5 Billion in the year 2021. The country currently accounts for a 36.3% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$35.4 Billion in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 6.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR while Rest of European market (as defined in the study) will reach US$37.5 Billion by the end of the analysis period. China is a leading producer and exporter of APIs, accounting for about 20% of global API production. The country’s strong presence in API production could be attributed to factors such as low cost of utilities and strong government support. COVID-19 has highlighted various vulnerabilities associated with sourcing of APIs from other regions or countries, such as fractured supply chain and limited scope for immediate response to changes. These challenges are now prompting a number of European nations and the US to focus on relocation of pharmaceutical and API production back to home country. More

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