Yahoo Finance 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.
Key Companies-
BASF SE
CordenPharma
Dr. Reddy’s Laboratories Ltd.
CARBOGEN AMCIS AG
Pfizer, Inc.
Sun Pharmaceutical Industries, Ltd.
Teva Pharmaceutical Industries Ltd.
Albany Molecular Research, Inc.
Sanofi S.A.
Merck & Co., Inc.
Novartis AG
F. Hoffmann-La Roche Ltd.
Bristol-Myers Squibb Company
Boehringer Ingelheim International GmbH
Cipla Inc.
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Competitive Landscape
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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