High Potency Active Pharmaceutical Ingredients Market to Reach a Revenue of Around US$ 23.3 Billion by the End of 2023 at a CAGR of 11.1%, States Persistence Market Research
Market Study on High Potency Active Pharmaceutical Ingredients: Surge in oncology treatments to catalyze the demand in the forthcoming years
New York, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The High-potency pharmaceutical active ingredients market revenues were estimated at US$ 21.2 Billion in 2022 and is anticipated to grow at a CAGR of 10.9% from 2023-2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach US$ 23.3 Billion. The market revenue through in-house manufacturing is expected to grow at a CAGR of 11.1% from 2023 to 2033.
Several countries have enacted strict regulatory rules for the production of pharmaceutical ingredients since the pharmaceutical sector continues to grow at a rapid pace. These criteria have been imposed on firms in order to govern their manufacturing quality, hence improving the end product's therapeutic effectiveness. Rising in-house API manufacturing overhead expenses exacerbate this, which has caused pharmaceutical companies to shift their focus away from in-house production. As a result, several businesses have decided to outsource their API production.
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Asia Pacific is one of the regions that has seen enormous expansion in manufacturing, owing to which firms in western countries cite Asia Pacific as a relatively low-cost alternative for outsourcing production.
Various manufacturers currently have a strong presence in China and India, prompting biopharmaceutical companies to seek out contract development and manufacturing firms (CDMOs). For example, AGC Biologics, a worldwide biopharmaceutical CDMO, announced a collaboration with Ono Pharmaceutical Co., Ltd. in August 2020 for the development of new and innovative biopharmaceuticals in the clinical development stage. As a result, these companies have the technical know-how and capacities to manufacture APIs on a large scale, which is expected to boost the market throughout the forecast period.
Dr. Reddy’s Laboratories Ltd.
CARBOGEN AMCIS AG
Sun Pharmaceutical Industries, Ltd.
Teva Pharmaceutical Industries Ltd.
Albany Molecular Research, Inc.
Merck & Co., Inc.
F. Hoffmann-La Roche Ltd.
Bristol-Myers Squibb Company
Boehringer Ingelheim International GmbH
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The key players in the global High Potency Active Pharmaceutical Ingredients Market are
In July 2020, Albany Molecular Research, Inc. (AMRI) and BioSig Technologies, Inc. established a cooperation to deliver merimepodib for the manufacture of antivirals for the treatment of Covid-19. This supply agreement allows the business to stay afloat in the market while also increasing revenue.
In September 2020, Sequens, a pharmaceutical ingredient company, will open a high-potency active pharmaceutical manufacturing unit in Villeneuve-La-Garenne, France. This facility was built with a US $35 million investment.
In September 2020, MilliporeSigma launched a US$ 65 million extension of its high-potency active pharmaceutical ingredient and ADC production capabilities and capacities at its Madison, Wisconsin location.
In August 2020, in Visakhapatnam, India, Ajinomoto Bio-Pharma Services opened a new manufacturing plant, expanding its small molecule manufacturing capabilities.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the High-potency pharmaceutical active ingredients market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Product Type (Synthetic, Biotech), by Manufacturer Type (In-house, Outsourced), by Drug Type (Innovative, Generic), by Application (Oncology, Hormonal Disorders, Glaucoma, Other Applications), across five regions (North America, Latin America, Europe, Asia Pacific and the Middle East & Africa).
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