Market Research Report
High Potency Active Pharmaceutical Ingredients Market Size, Share & Trends Analysis Report By Product (Synthetic, Biotech), By Manufacturer Type (In-house, Outsourced), By Drug Type, By Application, By Region, And Segment Forecasts, 2021 - 2028
|High Potency Active Pharmaceutical Ingredients Market Size, Share & Trends Analysis Report By Product (Synthetic, Biotech), By Manufacturer Type (In-house, Outsourced), By Drug Type, By Application, By Region, And Segment Forecasts, 2021 - 2028|
Published: September 28, 2021
Grand View Research, Inc.
Content info: 140 Pages
Delivery time: 2-10 business days
The global high potency active pharmaceutical ingredients market size is expected to reach USD 38.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.4% from 2021 to 2028. The market is driven by an increased focus on targeted therapies and a surge in demand for cancer therapies.
The rising prevalence of cancer is a major factor expected to drive the market for high potency active pharmaceutical ingredients (HPAPIs). According to the WHO, cancer is the second biggest cause of death, causing over 9.6 million deaths in 2018 and the use of tobacco is responsible for 22% of cancer deaths. As per the CDC, the risk factors such as lifestyle changes including smoking, obesity, alcohol consumption, and exposure to UV radiation from the sun or tanning beds have contributed to the overall burden of the disease. Moreover, the cost of cancer care is anticipated to reach USD 174 billion by the end of 2020, which is anticipated to accelerate the market growth.
Increased demand for antiviral drugs such as remdesivir for COVID-19 treatment is fueling the demand for high potency antiviral HPAPIs. The change in supplier dynamics owing to COVID-19 and the increased focus of governments on pharmaceutical raw materials, such as HPAPIs, are driving the market.
Japan and China are among the leading countries with numerous biotech companies involved in the production of HPAPIs. The presence of major companies such as Takeda and Sankyo has boosted the development of biotechnology-derived APIs in these countries. Furthermore, the growth of the biotech segment can be attributed to the high investments in the biotechnology and biopharmaceutical sectors. This allows the innovation of new molecules that aid in the treatment of diseases, such as cancer.
Key players are leveraging various strategies to increase their production capabilities and promote the outreach of their product offerings. For instance, in July 2020, CordenPharma International announced the expansion of its peptide manufacturing unit in Colorado to address the increased demand for peptide APIs. This expansion will enable the company to grow and help in generating increased revenue.