Active Pharmaceutical Ingredient Market - Emerging Trends to Boost the Global Growth


Posted July 13, 2022 by vmack2187

Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
 
Research Methodologies Followed:

Primary Research:

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Secondary Research:

Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the active pharmaceutical ingredients market. The secondary sources used for this study include Active Pharmaceutical Ingredients Committee (APIC), International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), International Pharmaceutical, Congress Advisory Association (IPCAA), European Generic and Biosimilar Medicines Association (EGBMA) and World Health Organization (WHO). These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.

COVID-19 impact on the active pharmaceutical ingredients market

With the WHO declaring the COVID-19 outbreak a pandemic, a mix of established pharmaceutical and biopharmaceutical companies, as well as small startups, have stepped forward to develop treatments that target the infection. In just a few weeks, scientists found a list of molecules that target COVID-19. Currently, around 155 molecules are under clinical investigation, and 45 molecules are under preclinical development to be targeted against COVID-19.

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In this list, there are four promising drugs (Remdesivir, Chloroquine & Hydroxychloroquine, Lopinavir & Ritonavir, and Lopinavir with Ritonavir plus Interferon beta-1a) that have been repurposed for use against COVID-19. On March 24, 2020, the WHO announced that it had initiated a global mega trial of the four most promising drugs against COVID-19. Countries are in a global race to develop and mass-produce an efficient vaccine to fight COVID-19. The economic and social burden of pandemics has prompted government bodies to increase funding for vaccine development on a global scale.

According to the WHO, as of June 2020, there were over 140 vaccines in various stages of development. Of these, 13 are now in the human clinical trial stage, while others remain at the very early stages of preclinical testing. Increase in funding and research for development of pharmaceutical products will drive growth for the market. However, coronavirus outbreak has disrupted business and economic activities globally.in the first quarter of 2020 It is expected to have a short-term impact on the active pharmaceutical ingredients market to a certain extent.

Major Growth Influencing Factors:

DRIVER: Adoption of organ on chip models in drug development

Despite massive investments in pharma R&D, there has been a direct decrease in the annual number of new FDA-approved drugs—almost directly proportional to the increase in R&D spending. To curb the high cost of drug development, there is a growing need to develop predictive tissue models using human cells to determine drug efficacy and safety in advance of clinical testing.

In this regard, the organ-on-a-chip technology is expected to fill the gaps in drug screening by offering predictive human tissue models. This technology has the potential to revolutionize the pharmaceutical industry by making drug development faster, cheaper, and successful. Thus, the adoption of organ-on-chip models in drug development is considered as a positive indicator of the growth of the APIs market.

RESTRAINT: Unfavourable drug price control policy

Over the last few years, there has been a gradual increase in the regulation of pharmaceutical drug prices globally. The US is a major unregulated market; however, several prominent countries have regulated drug prices. Governments induce price controls to limit spending on pharmaceuticals. However, regulated drug prices mostly result in revenue losses to pharmaceutical companies. These revenue losses lead to a reduction in global R&D spending, which results in fewer new molecular entities (NMEs) being developed per annum.

Such price control policies that reduce pharmaceutical revenues may provide modest relief to individual purchasers; however, they pose risks to long-term innovation in the pharmaceutical industry. For instance, the National Pharmaceutical Pricing Authority (NPPA) of India enforced the Drugs Price Control Order (DPCO) Act in 2013, which empowered it to fix a ceiling on the retail price of drugs. Since then, the list of drugs under price control has steadily expanded from 74 in 1995 to nearly 860 by 2019.

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OPPORTUNITY: Highly potent active pharmaceutical ingredients

Highly potent active pharmaceutical ingredients (HPAPIs) represent a significant change in the way pharmaceutical companies are using small molecules to deliver new therapies. The shift toward HPAPIs has led to the development of a pipeline of more effective medicines that require lower doses. The benefits of HPAPIs, such as their high efficacy, lower therapeutic dose requirement (owing to the selective mode of action), and the ability to bind to specific receptors, can be considered as the major factors responsible for their growing demand among manufacturers as well as customers.

The presence of small molecules has traditionally dominated the APIs market. As the generic APIs market continues to get highly competitive, API manufacturers are shifting toward newer avenues such as HPAPIs to differentiate themselves from the competition.

Geographical Growth Dynamics:

North America was the largest regional market for active pharmaceutical ingredients in 2019.

Geographically, the active pharmaceutical ingredients market is segmented into North America, Europe, Asia, and Rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and the Asia Pacific. The large share of North America in the global market is attributed to , the increasing number of innovative drugs going off-patent and cost-containment measures for healthcare are the key factors supporting the growth of the generic APIs market in this region. Innovative product launches and price increases in North America may, however, restrict the growth of the generic APIs market to a certain extent in the coming years.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags active pharmaceutical ingredient , active pharmaceutical ingredient market , active pharmaceutical ingredients , active pharmaceutical ingredients market
Last Updated July 13, 2022