USD 224.56 Billion
Report ID:
SQMIG35A2875 |
Region:
Global |
Published Date: April, 2024
Pages:
218
|Tables:
115
|Figures:
74
Active Ingredients Market size was valued at USD 237.47 Billion in 2023 and is poised to grow from USD 251.12 Billion in 2024 to USD 392.77 Billion by 2032, growing at a CAGR of 5.75% during the forecast period (2025-2032).
Increasing consumer trends towards personal grooming and cosmetics are driving demand for active ingredients in skin care, hair care, color and cosmetics. Increasing disposable income, urbanization and changing lifestyles are contributing to the expanding market for active ingredients in the personal care and cosmetics industry. Technological advances and innovations in the pharmaceutical industry led to the development of new drugs and treatments that require the use of active ingredients (APIs). The demand for high-quality and efficient APIs is driving investment in research and development, driving market growth in the pharmaceutical industry.
The number of elderly people worldwide is increasing. According to the United Nations, there are expected to be 771 million people aged 65 and older in the population by 2022, rising from 994 million in 2030 to 1.6 billion in 2050. The number of older people in Africa shows the fastest growth rate, also including those aged 60 and over. The population is projected to triple, followed by Latin America to 18.8 billion by 2050. Growth is viewed as high risk of developing diseases including cardiovascular diseases hence rapidly increasing global elderly population could be a major confirmatory influence for the global active ingredients market.
Global Market Size
USD 224.56 Billion
Largest Segment
Cardiology
Fastest Growth
Oncology
Growth Rate
5.75% CAGR
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By synthesis, the active pharmaceutical ingredients market is classified into synthetic and biotech. By application, the global market is divided into many segments such as cardiology, pulmonology, oncology, ophthalmology, neurology, orthopedic, and other applications. By brand the market is segmented into patented/ innovative API and generic API. By business mode, the market is segmented into captive API and Merchant API. Geographically, the Global Active Ingredients Market has been segmented into Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
Analysis by Application
The cardiology segment dominated the global active ingredients market in terms of revenue share in 2023 attributed to rising cardiovascular diseases across the globe. According to the World Heart Report 2023, more than half a billion people worldwide are affected by CVD, causing approximately 20.5 million deaths by 2021 nearly a third of global deaths and an increase of more than 100,000 121 million previously estimated CVD deaths spurred mass research on the topic. Simvastatin is a lipid-lowering drug that belongs to the statin class and is used to treat lipodystrophy. Rosuvastatin calcium is a new API used by AstraZeneca for cardiovascular diseases.
The oncology segment is expected to grow the fastest during the forecast period. The increasing incidence of cancer worldwide is a major driver of this market. Collaboration between pharmaceutical companies, research institutes, and regulatory agencies is critical to accelerate drug development, ensure patient safety, & drive innovation. For example, in March 2023, Pfizer Inc. will have 100,000 shares and CGen Inc. confirmed that a definitive union agreement had been reached. Through this strategic deal, Pfizer will acquire CGen, a leading biotechnology company that develops revolutionary cancer therapies. The deal includes a trading denomination of U.S. dollars. $229 per CGen share, giving it an enterprise value of US$229. $43 billion has been generated.
Analysis by Type
The patented/innovative API segment dominated the overall global active ingredients market by revenue share by 2023. The growth of the market is driven by increase in funding and better regulation for R&D facilities due to extensive research on this industry therefore, there are currently many new innovative products, and it is anticipated that it will be established soon. Furthermore, support from regulatory bodies for approval of new drugs is expected to facilitate incremental market growth, which can be attributed to increased government attention to healthcare and drugs.
The generic APIs segment is expected to show the fastest growth during the forecast period. The expiry of patents on pharmaceutical branded molecules is a key driver of great opportunities for the development of generic pharmaceutical Apis. The post-pandemic pharmaceutical industry has moved to aggressive patents by 2030, with a loss of almost 200 molecules alone and more than 100 biosimilars by 2023. This presents an opportunity for developers of generic APIs as API demand for these products is set to increase by the end of this decade. It includes more than 60 molecules that cover the oncology segment with strong API’s that generate significant revenue.
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North America led the global active ingredients market to account for 38.26% share by 2023 as rising incidence of cardiac, genetic, and other chronic diseases contributed to increased research in pharmaceuticals. AbbVie Inc. the availability of specialized services such as; Kuria; Pfizer Inc. (Pfizer One Institute); Viatris Inc., Fresenius Kaby AG was having a positive impact on growth. For example, in February 2022, Viatris received FDA approval for generic Restasis—a cyclosporine eye drops for the treatment of cataracts.
Asia Pacific is slated to expand at the fastest pace during the forecast years. The market is growing rapidly as most of the API production takes place in the countries in the region with high levels of API exports. China is the largest producer of APIs, producing more than 1600 types of pharmaceutical APIs and moreover, they are especially many Global players are setting up their activities in this area. Increasing investments and infrastructure to support and expand manufacturing facilities are going to drive the overall growth of the global active ingredients market.
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Drivers
Growing Demand for Functional Nutrients
Growing Aging and Health Problems
Restraints
Price Fluctuations in Emerging Nations to Restrict Market Growth
Concerns about Pharmaceutical Pricing Restricting Market Growth
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The competitive environment of the Global Active Ingredients Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Companies compete based on innovation and differentiation, developing functional innovations that improve performance, safety specifications and durability certifications. Investing in research and development (R&D) is essential to stay ahead in the competitive environment, as consumers demand products with scientifically validated ingredients and unique ingredients. Collaborations between manufacturers, research institutes and academic institutions foster innovation and accelerate product development in the materials market. Strategic partnerships enable companies to acquire complementary technologies, share resources, and leverage expertise to meet evolving customer preferences and market trends.
Top Player’s Company Profiles
Recent Developments
Rising Demand for Active Ingredients with Multifunctional Properties
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global active ingredients market covers the manufacture, distribution and application of active ingredients in various industries such as pharmaceutical, personal care, agriculture and household appliances. Active ingredients are pharmaceutical compounds which handle products ranging from pharmaceuticals and cosmetics to pesticides and detergents.
The global market witnessed a steady growth, driven by factors such as rising population, increased health awareness, demand for cosmetics and personal care products high, expanded agricultural activities to meet food demand affect these factors. The innovation in technological reagents has led to the development of safe, effective and environmentally friendly chemicals in order to reduce and monitor environmental footprint recognizing the safety of the products, manufacturers are increasingly focusing on green chemistry principles and sustainable manufacturing practices. Advanced techniques such as biotechnology, nanotechnology and synthetic biology are being used to discover and develop new functional materials with improved properties and properties.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 224.56 Billion |
Market size value in 2031 | USD 371.41 Billion |
Growth Rate | 5.75% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Active Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Active Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Active Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Active Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2875
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