PUBLISHER: Allied Market Research | PRODUCT CODE: 1344273
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344273
According to a new report published by Allied Market Research, titled, "API Intermediate Market," The api intermediate market was valued at $139.4 billion in 2022, and is estimated to reach $285 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
Active pharmaceutical ingredients (APIs) are substances or combination of substances used to manufacture a drug product. The raw material used in formulation of active pharmaceutical ingredients is known as API intermediates. API intermediates are material produced in the process of manufacturing of API. There are two types of API intermediates, which includes chemical intermediates and bulk drug intermediates. A bulk drug intermediate refers to a chemical substance or compound that is produced during the manufacturing process of a pharmaceutical drug. A chemical intermediate, on the other hand, is a compound or substance that is produced during the synthesis or production of various chemicals, including pharmaceuticals, agrochemicals, dyes, polymers, and other industrial products.
The growth of the API intermediates market is driven by rise in the prevalence of chronic diseases and increase in number of geriatric populations. APIs and intermediates possess application in high-quality drugs used for the treatment of diseases, such as oncology, cardiology, central nervous system (CNS) and neurology, orthopedic, pulmonology, gastroenterology, nephrology, ophthalmology, and endocrinology. APIs and intermediates can potentially create a more sustainable healthcare system by introducing more innovative products. Thus, rise in number of populations suffering from chronic diseases, such as cardiac diseases, is anticipated to fuel the demand for API intermediates and boosts the market growth. For instance, according to the British Heart Foundation, around 1,139,140 people were suffering from heart and circulatory diseases in the UK in 2022. As per the same source, around 650,681 male and 488,320 female population were suffering from heart and circulatory diseases in the UK in 2022.
Moreover, according to the American Heart Association, 244.1 million people were estimated to be living with ischemic heart disease (IHD) in 2020. As per the same source, IHD was more prevalent in males than in females, 141.0 and 103.1 million people, respectively.
In addition, the American Cancer Society reported that, around 1,918,030 new cases of cancer detected in the U.S. in 2022. Moreover, World Cancer Research Fund International, (WCRFI), reported that around 18.1 million new cancer cases were detected in 2020 globally. Furthermore, rise in number of populations suffering from pulmonary and gastrointestinal disorders is expected to increase the demand for API intermediates and fuels the growth of the market. The global initiative for chronic obstructive lung disease (GOLD), in 2022, reported that 200 million people had chronic obstructive pulmonary disease (COPD), of which about 3.2 million die each year, making it the third-leading cause of death globally. In addition, as per the same source, asthma is one of the most common non-communicable diseases, globally affecting 262 million people in 2022.
High presence of companies who manufacture API intermediates is anticipated to boost the growth of the market. For instance, Shubham Specialty Products, Akums Drugs & Pharmaceuticals Ltd., Vasoya Industrial Pvt. Lmt., Corey Organics, Icon Pharma Chem, and SLN Pharmachem are some of the key market players who manufacture API intermediates.
However, the high cost associated with the acquisition of biopharmaceutical drugs is a major factor hampering the growth of global API intermediates market. Also, the high cAPItal investment required to produce API intermediates is expected to restrain the market growth.
On the contrary, rise in initiative taken by government of different countries such as India, China, Japan, and others, for development of healthcare infrastructure and increase in expenditure for development of API intermediates manufacturing units are anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.
The global API intermediates market is segmented into type, application, end user, and region. By type, the market is divided into bulk drug intermediates and chemical intermediates. On the basis of application, the market is divided into analgesics, anti-infective drugs, antidiabetic drugs, cardiovascular drugs, anticancer drugs and others. By end user, the market is segmented into biotech & pharmaceutical companies, CMO and research laboratories. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global API intermediates market include: Anyang General Chemical Co., Ltd., Sandoo Pharmaceuticals, Evonik Industries AG, Shree Ganesh Remedies Limited, Pfizer, Cambrex Corporation, Zeal & Innovation in Medicine, cation pharma, Hikal Ltd., and Espee.