Growing Prevalence of Cancer and Rising Adoption of High Potency Active Pharmaceutical Ingredients for Different Indication Drive High Potency APIs Market Growth
According to our latest study on "High Potency APIs Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Type of Synthesis, Manufacturer, Therapeutic Application, and Geography," the market is expected to grow from US$ 22.74 billion in 2021 to US$ 42.65 billion by 2028; it is estimated to grow at a CAGR of 9.4% from 2022 to 2028.
High Potency APIs Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Download Free SampleHigh Potency APIs Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Generic and Innovative), Type of Synthesis (Synthetic and Biotech), Manufacturer (In-House and Outsourced), and Therapeutic Application (Oncology, Hormonal Imbalance, Glaucoma, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
According to the WHO, cancer is the leading cause of death, accounting for over 10 million deaths in 2020. As per the CDC, risk factors such as smoking, obesity, alcohol consumption, and exposure to UV radiation from the sun and tanning beds have contributed to the disease's overall burden. Due to the rising prevalence of cancer, there is a high demand for potent cancer therapeutics, including HPAPIs. To meet the rising demand, Pfizer, Sanofi, F. Hoffmann-La Roche, and other pharmaceutical companies are developing novel cancer therapeutics. Therefore, the rising cancer prevalence is expected to drive the market for High Potency APIs (HPAPI).
Based on type of synthesis, the high potency APIs market is bifurcated into synthetic and biotech. In 2021, the synthetic segment held a larger market share. The market growth for the synthetic segment is driven by an increase in the number of novel APIs, drug approvals, and ease of production.
Based on manufacturer, the high potency APIs market is bifurcated into in-house and outsourced. In 2021, the in-house segment accounted for a larger market share owing to large volume produced via companies in-house manufacturing facilities.
Based on therapeutic application, the high potency APIs market is segmented into oncology, hormonal imbalance, glaucoma, and others. In 2021, the oncology segment dominated the market due to the rising prevalence of cancer and the introduction of novel drugs.
North America dominated the high potency APIs market with ~35% share in 2021. The market growth in the region is majorly attributed to well-developed healthcare infrastructure, growing pharmaceutical and life science industry with expanding oncology sector, and rising strategic initiatives by prominent players. Moreover, the increasing prevalence of chronic and lifestyle diseases in the region fuels the growth of the market.
Pfizer Inc, F Hoffmann La Roche Ltd, Eli Lilly and Company, Bristol Myers Squibb Company, Novartis AG, Sanofi, Merck Sharp and Dohme Corp, Bayer AG, AbbVie, and Teva Pharmaceutical Industries Ltd. are a few of the key players profiled in the study of the high potency APIs market. Several other major companies were analyzed during this study to get a holistic view of the market and its ecosystem.
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