As per the report by Fortune Business Insights, the global small molecule API market size is projected to reach USD 246.22 billion in 2030, at a CAGR of 6.8% during the forecast period, 2023-2030
Pune, India, Dec. 08, 2023 (GLOBE NEWSWIRE) — The small molecule API market size is projected to grow from USD 154.95 billion in 2023 to USD 246.22 billion by 2030, exhibiting a CAGR of 6.8% during the forecast period. Increasing global chronic disease rates have driven pharmaceutical companies to develop more therapeutic drugs to meet rising demand.
Fortune Business Insights presents this information in their report titled “Global Small Molecule API Market, 2023–2030.”
Key Industry Development:
January 2022 – Pfizer Inc. announced that the U.S. FDA approved CIBINQO for the treatment of adults living with refractory, moderate-to-severe Atopic Dermatitis (AD).
Request a Free Sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/small-molecule-api-market-107457
- The pharmaceutical industry heavily favored small molecule APIs for their ability to be taken orally and penetrate cell membranes, offering unique therapeutic benefits.
- Rising global chronic disorders have increased the worldwide patient population, consequently driving a higher demand for new therapeutic products.
- North America accounted for the highest small molecule API market share and generated a revenue of USD 55.25 billion in 2022.
- The oncology segment dominated the market and is expected to grow at a higher CAGR.
List of Key Players Profiled in the Report
Teva Pharmaceutical Industries Ltd. (Israel), Cipla Inc. (India), Dr. Reddy’s Laboratories Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), Aurobindo Pharma (India), Merck KGaA (U.S.), AbbVie Inc. (U.S.), Lonza (Switzerland), Sanofi (France), Pfizer Inc. (U.S.)
|2023 to 2030
|Forecast Period 2023 to 2030 CAGR
|2030 Value Projection
|USD 246.22 Billion
|Market Size in 2022
|USD 146.14 Billion
|2019 to 2021
|No. of Pages
|By Type, Indication, Manufacturing Type, and Region
Browse Complete Report Details: https://www.fortunebusinessinsights.com/small-molecule-api-market-107457
Increased R&D Efforts by Market Participants for Branded Products to Lead to the Segment’s Dominance
Based on type, the market is segmented into branded and generic.
The demand for branded pharmaceuticals has been steadily declining over the years due to the main blockbuster drugs coming off-patent and their relatively high cost. As a result, it is anticipated that sales of generic small molecule APIs will increase significantly throughout the course of the projected period. Additionally, it is anticipated that the growing popularity of over-the-counter medicines and their relative affordability will support the rise of the generic market.
Due to Strong Pipeline, Oncology Segment is Expected to Dominate
On the basis of indication, the market is segmented into oncology, diabetes, and others.
The oncology segment is anticipated to expand at a faster CAGR due to a number of factors, including the rising incidence of cancer worldwide and the development of more effective new therapies. Throughout the past few decades, there has been a considerable increase in the creation and discovery of new small molecule cancer drugs. Pharmaceutical companies are putting a lot of emphasis on targeted medications, which have a high potency and minimal toxicity and can target cancer cells specifically.
Raw Material Availability will Propel the Captive Segment
On the basis of manufacturing type, the market is segmented into captive and merchant.
In 2022, the captive segment held the biggest global market share. It has been crucial for pharmaceutical corporations to concentrate on the internal production of active pharmaceutical components now that raw materials are readily available and that significant investment has been made by pharmaceutical organizations to establish innovative manufacturing facilities. Also, the growth of the captive segment is being fueled by strategic actions taken by big players such as the expansion of manufacturing facilities and the signing of supply agreements with other players.
By Manufacturing Type
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy – Small Molecule API Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/107457
Drivers & Restraints:
Pharmaceutical Product’s Increased Demand and Growing R&D Developments Drive Market Growth
The patient population across the globe has been rising due to the increasing prevalence of chronic diseases, which has resulted in demand for new therapeutic products. Pharmaceutical companies have increased their investment in research and development to focus on the production of therapeutic drugs that can be used as a substitute for the treatment of chronic disorders. Large pharmaceutical corporations’ actions will increase the market share of small molecule APIs.
However, increasing production of new biologic drugs, which can be used as an alternative to small molecule APIs while treating patients with various chronic diseases, may impede the market growth.
Several People Suffering from Chronic Illnesses Contributed to the North America Market Growth
In 2022, the North America small molecule API market share was the largest and generated revenues of 55.25 billion. During the projected period, the regional market is expected to grow. Factors contributing to the growth of this region are the growing incidences of chronic diseases and government initiatives toward developing novel therapeutic drugs. For the treatment of several chronic diseases, small molecule drugs are used, which is driving the growth of the market.
Europe witnessed positive growth trajectory in 2022 due to rise in funds for R&D initiatives and the presence of major pharmaceutical manufacturing companies in the region.
Major Corporations Control the Market due to Diversified Product Portfolio
The global market is somewhat fragmented, with the key companies having a diverse portfolio. The presence of manufacturing facilities with advanced technologies and their approaches and persistent efforts toward launching new products have led to the key market players’ dominance. Apart from large pharmaceutical corporations, small and medium businesses in the market focus on launching small molecule therapeutic agents in the market. Companies focus on getting regulatory approvals to increase their market share.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/small-molecule-api-market-107457
How big is the Small Molecule API Market?
The small molecule API market size was valued at USD 146.14 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% during the forecast period, 2022-2030
What is the current size of Small Molecule API Market?
Global small molecule API market projected to reach USD 246.22 billion by 2030, exhibiting a CAGR of 6.8%.
Active Pharmaceutical Ingredient Market Size, Share, Revenue Forecast and Opportunities
Contract Development and Manufacturing Organization (CDMO) Market Overview, Industry Share and Forecast
Contract Manufacturing Organization (CMO) Market Revenue, Size, Share, and Opportunities
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them in addressing various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road,
U.S.:+1 424 253 0390
U.K.: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
- Small Molecule API Market
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaChron.com takes no editorial responsibility for the same.