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(Medical-NewsWire.com, May 25, 2022 ) Major Growth Boosting Factors:
The growth in High Potency APIs Market is driven by factors such as increasing demand for oncology drugs, growing demand for antibody-drug conjugates, increasing focus of leading pharmaceutical companies on HPAPIs, advancements in HPAPI manufacturing technologies, and growing focus on precision medicine.
Expected Revenue Growth:
The HPAPI market is projected to reach USD 39.6 billion by 2027 from USD 24.5 billion in 2022, at a CAGR of 10.1% from 2022 to 2027.
The innovative HPAPIs segment is expected to account for the largest share of the market in 2021.
Based on type, the High Potency APIs market is segmented into innovative and generic. The innovative segment is expected to account for the largest share of the HPAPI market in 2021. The large share can be attributed to the increased investments of innovator companies in R&D, manufacture, marketing, and supply of innovative HPAPIs as the revenue generated from these molecules are considerably high.
The synthetic APIs segment is expected to account for the largest share of the market in 2021.
On the basis type of synthesis, the High Potency APIs market is categorized into synthetic and biotech HPAPIs. The synthetic HPAPI segment is expected to command the largest share in 2021. The increasing emergence of new molecules in the market, rising number of product approvals, technological advancements in synthesis, and ease of production are driving the growth of the synthetic HPAPI segment.
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The Oncology segment is expected to account for the largest share of the market in 2021.
On the basis of therapeutic application, the High Potency APIs market is segmented into oncology, hormonal imbalance, glaucoma, and other therapeutic applications. The oncology segment is expected to account for the largest share of the global market in 2018. The growing incidence and prevalence of cancer across the globe and the launch of new target therapies in addition to technological advancements in the oncology HPAPI-antibody conjugate technology are major factors contributing to the growth of this segment.
The Asia region is the fastest-growing region of High Potency APIs Market from 2022 to 2027
HPAPI market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. Factors such as growth in geriatric population, high prevalence of chronic and lifestyle diseases, increase in disposable income, prevalence of lifestyle- and age-related diseases, government efforts to reform healthcare and encourage the adoption of generics, and growing market for merchant manufacturers in this region owing to the low labor and manufacturing costs are driving the growth of the market in Asia.
The major players in the HPAPI market include Pfizer Inc. (US), Novartis International AG. (Switzerland), Sanofi (France), Hoffmann La-Roche (Switzerland), and Bristol Myers Squibb Company (US).
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Mr. Aashish Mehra