Global Small Molecular API Market to Reach USD 279.7 Billion Up to 2027: By Bolster Entry of Big CMOs in the Business Will Drive the Market
Global Small Molecular API Market To Reach USD 279.7 Billon up to 2027 | by Bolster Entry of Big CMOs in the Business will Drive the Market
Pune, India -- (SBWire) -- 07/02/2018 --Small Molecule API Market is increasing rapidly. The major factors that drive the growth of small molecule API are rise in demand for the small molecule drugs, entry of big CMO's into the business, Development in the infrastructure in the pharmaceutical industry, rising access to the medication in the people from developing and underdeveloped countries and others. Globally the market for small molecule API is expected to grow at the rate of about 7.0% from 2016 to 2027.
Others factors which drive the market for small molecule API include increasing demand for small molecule drugs, infrastructure development in the pharmaceutical industry, growing prevalence of chronic diseases, growing demand for better and useful products, technological advancements and increasing government support in R&D activities.
Increasing healthcare expenditure worldwide, the growth of the generic sector fueled by patent expirations, lower manufacturing costs, and ease of transportation are other factors aiding the growth of the market. Growing trend of outsourcing drugs, entry of big CMOs in the business, and easy procurement of raw materials have also proven to be advantageous to the market growth.
The market is also expected to gain traction with the development of better distribution network. On the other hand, patent expiry and high costs associated with R&D, stringent regulatory policies and austerity measures in Europe are expected to hinder the market growth. Additionally, rising demand for biological drugs, a greater focus on niche and personalized treatments are also likely to restrain the market growth.
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Key Players for Global Small Molecular API Market
Some of the key players in this market are: Albemarle Corporation, Allergan Plc, Aurobindo Pharma, Cambrex Corporation, Dr. Reddy's Laboratories Ltd, Glaxosmithkline Plc, Lonza, Merck Sharp & Dohme Corp., Mylan N.V., Novartis AG, Pfizer Inc., Siegfried AG, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd and others.
The global small molecule API market is highly competitive and fragmented. There has been plenty of innovation and change in terms of product development, and the market participants are trying to capitalize on this trend by implementing various strategies such as product innovation, mergers, and acquisitions to withstand the fierce competition and gain a competitive edge over the market. The key players operating in the market include Albemarle Corporation, Cambrex Corporation, GlaxoSmithKline Plc, Merck Sharp & Dohme Corp., Novartis AG, Siegfried AG, Teva Pharmaceutical Industries Ltd, Allergan Plc, Aurobindo Pharma, Dr. Reddy's Laboratories Ltd, Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Ltd., and others.
Small Molecular API Industry Trends/Updates
In June 2018, Cambrex, a manufacturer of small molecule drugs announced the expansion of Generic API R&D capabilities at Milan, Italy. It has invested USD 5 Million for process development and will also recruit additional scientists for the same.
In May 2018, Ajinomoto Althea, Inc. ("Althea"), a leader in contract development and manufacturing announced the expansion of their contract development and manufacturing operation and capabilities in collaboration with its sister concern, Ajinomoto OmniChem, a small molecule API manufacturer.
Regional Analysis for Global Small Molecular API Market
The key markets of the global small molecule API market include North America, Europe, Asia-Pacific and the Middle East & Africa. North America accounts for 38% share of the market and is expected to reach USD 106.3 Bn by the end of 2027. The Europe market is the second largest market for small molecule API followed by Asia-Pacific. Asia-Pacific market is slated to exhibit exponential growth over the forecast period and is likely to emerge as the fastest growing market. Emerging countries in the region have potential growth opportunities for the development of API unit and presence of major manufacturers in the region, low-cost base coupled with outsourcing of APIs from countries like India and China are likely to bolster the growth in the region.
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