The global high potency active pharmaceutical ingredients (APIs) market was valued at USD 21.67 billion in 2020 and is expected reach USD 38.10 billion at a CAGR of 8.4 % over the forecast period. Highly potent APIs are capable of targeting diseased cell selectively and more precisely than other compounds. Increasing incidence of cancer resulted in increasing R&D pertaining to anticancer drugs which thereby propelling the demand for HPAPIs over the forecast period.
The rising number of biotech & pharmaceutical industry and increasing investments in R&D sector in developing economies such as Asia and Latin America regions are key factors expected to provide growth platform over the forecast period.
Rising incidence of cancer is expected to drive the HPAPI market over the forecast period. Side effects related to chemotherapy such as it also affects non cancerous cells hence targeted therapy approach is gaining popularity as it does not harm non cancerous cells. This is attributed to the rising demand of HPAPI in the future.
Emerging economies such as India, China, and the Middle East are present high growth opportunities for players in the HPAPIs market. In most of these geographies, the market is expected to show a high growth rate in the coming years owing to their huge population, increasing prosperity, and improving longevity (albeit at differing rates).
One of the major challenges faced by the players in this market, especially CMOs that offer HPAPI manufacturing services, is the continual evolution of industry standards, technologies, and regulations. Companies that are willing to enter this marker are required to adopt these newer technologies, which generally translates to huge investments. For example, SAFC (US) had to upgrade its HPAPI manufacturing facility in the US in 2016 to include more robust analytical technologies with improved sensitivity and detection levels that allow for the determination of potential API carryover at part-per-billion levels. Such a rapidly evolving environment poses a challenge to the players in this market.
The HPAPI Market is competitive in nature, with several major players competing for market space. Some of the prominent players in this market are Pfizer Inc. (US), Novartis International AG (Switzerland), Merck & Co. (US), Teva Pharmaceutical Industries Ltd. (Israel), Mylan, Inc. (US), BoehringerIngelheim (Germany), Sanofi (France), AbbVie (US), Eli Lilly and Company (US), AstraZeneca plc (UK), Bristol-Myers Squibb (US), and GlaxoSmithKline plc (UK).
Geographically, the HPAPI market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to dominate the market in 2018, followed by Europe. However, Asia is expected to grow at the highest CAGR during the forecast period. Factors such as growth in geriatric population, high prevalence of chronic and lifestyle diseases, increase in disposable income, prevalence of lifestyle- and age-related diseases, government efforts to reform healthcare and encourage the adoption of generics, and growing market for merchant manufacturers in this region owing to the low labor and manufacturing costs are driving the growth of the market in Asia.
Report : High Potency Active Pharmaceutical Ingredients (Apis) Market - By Type (Innovative HPAPI, Generic HPAPI) By Manufacturer (Captive HPAPI , Merchant HPAPI ) By Synthesis (Synthetic HPAPI , Biotech HPAPI , moAB, Vaccines) By Therapy (Oncology, Hormonal Disorders, Glaucoma, Other) By Region (North America, Europe, Asia, Rest of the World (RoW)) - Industry Analysis, Opportunity and Forecast 2020 To 2027