The global high potency active pharmaceutical ingredient market is highly fragmented in nature with a large number of local and global players operating across the globe, states a mew market research study by Transparency Market Research. The key players in the market are emphasizing on innovations and the expansion of the product portfolio, which is likely to support the growth of the overall market in the next few years. The rising number of strategic partnerships and the increasing mergers and acquisitions are predicted to generate potential growth opportunities for the market players in the coming few years. In addition to this, the entry of new players is likely to enhance the competitive landscape of the global high potency active pharmaceutical ingredient market in the next few years. Some of the leading players that are operating in the market across the globe are Lonza Group, Dr. Reddy’s Laboratories Ltd., Sigma-Aldrich Corporation, Cambrex Corporation, Pfizer, Inc., WuXi AppTec, Novartis AG, and Novasep.
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According to the market research study by Transparency Market Research, in 2014, the global market for high potency active pharmaceutical ingredient was worth US$2.64 bn and is predicted to reach a value of US$25.11 bn by the end of 2023. The market is predicted to register a healthy 8.30% CAGR between 2015 and 2023.
Asia Pacific to Witness High Growth in Coming Few Years
Among the key regional segments of the global high potency active pharmaceutical ingredient market, Asia Pacific is expected to account for a large share of the market in the next few years. The rising contract manufacturing activities is one of the main factor estimated to enhance the growth of the Asia Pacific market in the near future. In addition to this, the rising contribution from China and Japan is estimated to accelerate the growth of the Asia Pacific market in the coming few years. Furthermore, India is projected to witness a high growth in the next few years, thanks to the rising concentration of pharmaceutical manufacturing activities. Moreover, the rising investments by the leading players is another major factor that is predicted to enhance the growth of the Asia Pacific market in the next few years.
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On the basis of therapeutic area, the global market for high potency active pharmaceutical ingredient has been classified into anti-diabetic drugs, central nervous system drugs, cardiovascular drugs, musculoskeletal drugs, and oncology drugs. Among these, the oncology drugs segment is estimated to hold a large share of the overall market in the coming years. This segment is likely to register a healthy 8.30% CAGR between 2015 and 2023. The advent of innovative drugs is considered as one of the key factor that is estimated to accelerate the growth of the oncology segment throughout the forecast period.
Technological Advancements to Enhance Global HPAPI Market in Near Future
The rising demand for oncology drugs and the rising need for antibody-drug conjugates are the major factors that are estimated to accelerate the growth of the global high potency active pharmaceutical ingredient market in the near future. In addition to this, the rising focus of the key pharmaceutical companies and the rising focus on the precision medicine are estimated to enhance the growth of the market in the next few years. On the flip side, the need for large investments, high risk of cross-contamination, and the uncertainties that are associated with the products are estimated to hamper the growth of the market in the near future. Nonetheless, the rising opportunities for CMOS and CDMOS and technological advancements are expected to generate potential growth opportunities for the market players in the coming years.
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