Increasing Aging Population and Prevalence of Chronic Diseases Leads Demand for Active Pharmaceutical Ingredients (API) Global Market to Reach $345 billion by 2030

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A new report from Industry Experts Inc, on "Active Pharmaceutical Ingredients (API)", is published. According to this new global market research report, Active Pharmaceutical Ingredients (API) market is estimated at US$240.8 billion in 2024 and is expected to record a CAGR of 6.2% during the 2024-2030 analysis period and stand at a projected US$345.5 billion by 2030.

The Active Pharmaceutical Ingredients (API) market is primarily driven by the rising incidence of chronic diseases such as diabetes, cardiovascular disorders, and cancer. With the aging global population and increasing health issues related to lifestyle, there is a greater demand for effective medications, making APIs essential in drug development. The growing availability of healthcare and increased awareness in developing countries further boost the demand for affordable treatment options like biologics and biosimilars.

In 2024, synthetic APIs dominate the market with a share of 71.9% due to high demand for generic drugs and low production costs, which help Contract Development and Manufacturing Organizations (CDMOs) by reducing manufacturing expenses. Meanwhile, the biotech APIs segment is projected to record the fastest CAGR of 7% during the forecast period 2024-2030, driven by increased investment in biopharmaceuticals and innovations in treatments, particularly for cancer.

The report analyzes the global Active Pharmaceutical Ingredient (API) market covering the major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World.

The global APIs market studied in this report with respect to Type – Branded and Generic; Synthesis – Synthetic and Biotech; Manufacturer Type – Captive and Merchant; Molecule - Small Molecule APIs and Large Molecule APIs; and Application – Cardiology, Oncology, Neurology, Orthopedics, Endocrinology, Pulmonology and Others (Including Gastroenterology, Nephrology, Dermatology, Infectious Diseases, and Ophthalmology)

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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