According to the latest industry report by Fact.MR, a market research and competitive intelligence provider, the global sterile active pharmaceutical ingredients market stands at US$ 69.7 billion at present and is expected to progress at a CAGR of 6.4% between 2022 and 2032. The development of novel medications for uncommon conditions, rising prevalence of chronic diseases, and an ageing population have all increased pharmaceutical product use, which has raised pharmaceutical spending internationally. Pharmaceutical ingredients, when used in the creation of medicines, are said to be active.
The impact of COVID-19 resulted in market expansion of sterile active pharmaceutical ingredients (APIs) to address patients’ symptoms followed by variety of medical ailments. Market expansion has also been accelerated by ongoing API research and development. On the other side, it is anticipated that market progress will be hampered by high production costs and varied drug control laws across nations.
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Key Takeaways from Market Study
- The global sterile active pharmaceutical ingredients market is projected to expand at a CAGR of 6.4% from 2022 to 2032.
- The market stands at a value of US$ 69.7 billion in 2022.
- Under drug class, monoclonal antibodies lead the market and were valued at US$ 16.8 billion in 2021.
- North America leads the global market with 26.9% share in 2021.
- Demand for sterile active pharmaceutical ingredients is expected to increase at CAGRs of 5.9% and 5.5%, respectively, in Europe and North America, through 2032.
“Ever-growing population and emerging life-threatening diseases will boost the need sterile active pharmaceutical ingredients,” says a Fact.MR Analyst.
Despite challenging economic conditions, the business environment in the sterile active pharmaceutical ingredient market continues to display excellent opportunities. Market players such as Aurobindo Pharma Limited, Teva Pharmaceutical Industries Ltd., Corden Pharma GmbH, Dalton Pharma Services, Pfizer Inc, Sun Pharmaceutical Industries Ltd., Lonza Group, Albany Molecular Research Inc., Sanofi S.A, and Dr. Reddy’s Laboratories Ltd are competing to either retain or gain space and dominance in the global market.
Emerging industry players are attempting to enter the sterile active pharmaceutical ingredients market with distinct and innovative products. Moreover, product approvals by drug regulators & authorities and competition among manufacturers for product launches are driving market growth.
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Segmentation of Antimicrobial Susceptibility Test Industry Research
By Product :
- Kits, Reagents, & Consumables
- Automated Test Systems
- Culture Media
By Method :
- Broth Dilution Method
- Rapid Automated Method
- Disk Diffusion Method
- Gradient Diffusion Method
- Molecular Testing Method
By Test Type :
By Application .
- Clinical Diagnosis
- Drug Discovery and Development
By End-user :
- Diagnostic Laboratories and Hospitals
- Research and Academic Institutes
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
By Region :
- North America
- Latin America
- East Asia
- South Asia & ASEAN
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