The growing uptake of biopharmaceuticals is expected to drive United States active pharmaceutical ingredient market through 2026
According to TechSci Research report, “United States Active Pharmaceutical Ingredient Market By Method of Synthesis (Biological v/s. Synthetic), By Source (In-house v/s Contract Manufacturing Organizations), By Distribution Channel (Online v/s Offline), By Therapeutic Application (Cardiovascular Disease, Anti-diabetic, Oncology, Neurological Disorders, Musculoskeletal, Others), By Form (Tablet, Capsule, Injection, Others), By Molecule Type (Small v/s Large), By Potency (High v/s Low), By Drug Type (Innovator v/s Generic), By Region, Competition Forecast & Opportunities, 2016 – 2026”, the United States active pharmaceutical ingredient market stood at USD17.81 billion in 2020 and is projected to grow at a CAGR of 9.73% to cross USD31.48 billion by 2026.
This can be accredited to the growing geriatric population across the country which is susceptible to various chronic and infectious diseases. Additionally, the sudden outbreak and spread of COVID-19 pandemic has increased the demand for drug discovery, vaccines, among others to fight against the pandemic and other infectious diseases. This in turn is expected to positively influence the market growth through 2026. Also, growing prevalence of hospital acquired infections and advances in manufacturing techniques related to active pharmaceutical ingredients is further expected to fuel the market growth over the next few years. The increasing prescription drugs expenditure in the United States is further expected to spur the market growth.
However, high manufacturing costs associated with active pharmaceutical ingredients can hamper the market growth over the next few years. Moreover, quality concerns associated with the active pharmaceutical ingredients manufactured through contract manufacturers can further restrict the market growth.
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The United States active pharmaceutical ingredients market is segmented based on method of synthesis, source, distribution channel, therapeutic application, form, molecule type, potency, drug type, region, and company. Based on therapeutic application, the market can be categorized into cardiovascular disease, anti-diabetic, oncology, neurological disorders, musculoskeletal and others. The cardiovascular disease segment dominated the market in 2020 with a share of 24.56% owing to the growing prevalence of various cardiovascular diseases in the country. Based on drug type, the market can be bifurcated into innovator and generics. The innovator medicine segment dominated the market with a share of around 55.30% in 2020 owing to the increasing research and development activities by major biopharmaceutical companies for the development of new drugs. Additionally, the outbreak of pandemic COVID-19 has increased the need for the development of new drugs.
Teva Pharmaceutical Industries Limited, Merck & Co., Inc., Pfizer Inc., Dr. Reddy’s Laboratories Limited, Lupin Pharmaceuticals, Inc., Glenmark Pharmaceuticals, Inc., GlaxoSmithKline Plc, Novartis Inc. (Sandoz), Aurobindo Pharma USA, Inc., Sun Pharmaceutical Industries Ltd., Eli Lilly and Company, AbbVie Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Sanofi-Aventis U.S. LLC and others are some of the leading players operating in the United States active pharmaceutical ingredient market.
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“United States active pharmaceutical ingredients market is expected to witness significant growth of around 9.73% during the forecast period, owing to the increasing inhouse manufacturing of active pharmaceutical ingredients in the country. Additionally, the emergence of biosimilars is further expected to fuel the market growth through 2026. Furthermore, increasing government focus on generic drugs is expected to create lucrative opportunities for the market over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Active Pharmaceutical Ingredient Market By Method of Synthesis (Biological v/s. Synthetic), By Source (In-house v/s Contract Manufacturing Organizations), By Distribution Channel (Online v/s Offline), By Therapeutic Application (Cardiovascular Disease, Anti-diabetic, Oncology, Neurological Disorders, Musculoskeletal, Others), By Form (Tablet, Capsule, Injection, Others), By Molecule Type (Small v/s Large), By Potency (High v/s Low), By Drug Type (Innovator v/s Generic), By Region, Competition Forecast & Opportunities, 2016 – 2026” has evaluated the future growth potential of the United States active pharmaceutical ingredients market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the United States active pharmaceutical ingredient market.
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