With the emergence and long-term Impact of COVID-19, Global API Intermediate Market to reach USD 246.77 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global API Intermediate Market points towards a potential rise to USD 246.77 billion by 2030. Active Pharmaceutical Ingredient (API) intermediates commonly referred to as drug intermediates, are chemical compounds or substances formed during the synthesis or manufacturing process of an API. The final active pharmaceutical component utilized in the formulation of medicines is produced from these intermediates, which are the essential building blocks or precursor molecules.
API intermediates are used in developing novel pharmaceutical substances. The production of APIs uses compounds known as API intermediates as building blocks or precursors. The quality control processes use API intermediates as reference standards. The surge in demand for generic drugs, the rising trend of contract manufacturing and outsourcing, increase in the prevalence of chronic diseases such as cardiovascular disorders, diabetes, cancer, and respiratory ailments, coupled with the escalating geriatric populations are the key driving factors for the global API Intermediate Market.
Geographically, the global API Intermediate market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the regional pharmaceutical companies heavily investing in research and development activities to discover new drugs and improve existing drug formulations. Also, advances in pharmaceutical manufacturing techniques, such as continuous manufacturing and the use of process analytical technology (PAT), have improved the efficiency and quality of API production.
Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. Factors such as the rise in chronic diseases, spurring population, growing demand for affordable healthcare, and the expiration of patents for several branded drugs, along with the expansion of the pharmaceutical industry in emerging economies such as India and China are significantly propelling the market demand across the region.
The global API Intermediate market is highly competitive owing to the presence of several key players such as Espee Group, Hikal Ltd, Anyang General Chemical Co., Ltd, Evonik Industries AG Sandoo Pharmaceuticals and Chemicals Co., Ltd, Cambrex Corporation, Sanofi Cation Pharma Pfizer Inc, BASF SE and others.
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Key findings of the study suggest:
- Global API Intermediate Market is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2023-2030.
- In the Type segment, Bulk Drug Intermediates emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to regional pharmaceutical companies heavily investing in research and development activities to discover new drugs and improve existing drug formulations in the region.
- Asia Pacific is expected to grow at higher rate owing to growing demand for affordable healthcare in the region
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Bulk Drug Intermediates
- Chemical Intermediates
By Application:
- Analgesics
- Anti-Infective Drugs
- Antidiabetic Drugs
- Cardiovascular Drugs
- Anticancer Drugs
- Others
By End User:
- Biotech and Pharmaceutical Companies
- CMO
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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