The global Active Pharmaceutical Ingredients (API) market size is expected to reach USD 368.52 Billion in 2032 and register a steady revenue CAGR of 6.8% over the forecast period, according to the latest report by Reports and Data. Increasing investments in Research & Development (R&D) activities regarding drug development and production is a key factor driving market revenue growth.

APIs are chemically and biologically active components of drugs, which help in cure, mitigation, treatment and prevention of diseases.  Numerous new facilities and production sites are being established with the objective to meet the rising demand for APIs in treating various diseases. For instance, on 9 May, 2023, Boehringer Ingelheim commenced the construction of a Chemical Innovation Plant at its primary site in Ingelheim, Germany. The primary purpose of this plant is to develop manufacturing processes for APIs and produce medications specifically intended for use in clinical trials. In addition, increasing prevalence of chronic diseases such as diabetes, heart disease, and others, is another major factor driving revenue growth of the market. According to the Centers for Disease Control and Prevention's (CDC) National Diabetes Statistics Report for 2022, approximately 37.3 million individuals, equivalent to 11.3% of the overall U.S. population, are affected by diabetes. Out of the total population, around 28.7 million people, or 28.5%, have been officially diagnosed with diabetes. This report also estimates that approximately 8.5 million individuals have diabetes but have not yet received a formal diagnosis as of 2022.

However, price fluctuations along with the easy availability of counterfeit drugs are major factors , which could restrain market revenue growth. According to the Pharmaceutical Security Institute (PSI), authorities in 137 countries discovered 4,344 cases of counterfeiting, illegal diversion, and theft of pharmaceuticals in 2020. These incidents involved a diverse range of 2,451 medicines from various therapeutic categories.

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Some major companies in the global market report include Pfizer Inc., Cipla Inc., Boehringer Ingelheim International GmbH., Novartis AG, Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb Company, Abbott, and AbbVie Inc.

Some Key Highlights from the Report

• The synthetic segment is expected to account for largest revenue share in the global API market over the forecast period. This is due to rising demand for personalized medicines and advancements in synthetic chemistry techniques. Synthetic APIs offer cost savings and enhanced affordability for patients as these typically require fewer raw materials and involve simpler manufacturing processes. Moreover, synthetic APIs enable the development of customized treatments, including modified-release formulations and combination drugs, to cater to individual patients' specific requirements.
• The oncology segment is expected to register steadily fast revenue growth rate in the global API market over the forecast period. This is due to rising prevalence of cancer and demand for precision oncology and increasing government funding and investments in cancer treatments. Companies are also focusing on collaborations to develop new cancer therapies and drugs.
• The Asia Pacific is expected to account for considerably large revenue share in the global API market over the forecast years. This is due to increasing Research & Development (R&D) activities and substantial investments in drug production, rising number of cancer-related deaths, and advancements in technology for drug manufacturing. For instance, in China, according to the National Center for Biotechnology Information, there has been a gradual decrease in the age-standardized mortality rate for overall cancer. It is expected to reach 140.80 by 2025. However, it is expected that the mortality rates among males due to liver and pancreatic cancer will increase.
• On 29 March 2022, Sanofi and IGM Biosciences partnered for the development, production, and commercialization of immunoglobulin M (IgM) antibody agonists targeting oncology, immunology, and inflammation. This partnership will leverage the IgM antibody technology platform to identify agonists for three oncology targets and three targets related to immunology and inflammation.

For the purpose of this report, Reports and Data has segmented the global API market based on type, synthesis type, manufacturer, drug type, application, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

• Innovative APIs
• Generic APIs

Synthesis Type Outlook (Revenue, USD Billion; 2019-2032)

• Synthetic
• Biotech

Manufacturer Outlook (Revenue, USD Billion; 2019-2032)

• Merchant (contract) Manufacturer
• Captive (in-house) manufacturer

Drug Type Outlook (Revenue, USD Billion; 2019-2032)

• Prescription Drugs
• Over-the-Counter Drugs

Application Outlook (Revenue, USD Billion; 2019-2032)

• Cardiovascular Diseases (CVDs)
• Respiratory Diseases
• Diabetes
• Oncology
• Pain Management
• Communicable Diseases
• Others

Regional Outlook (Revenue, USD Billion; 20219-2032)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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