IMARC Group, a leading market research company, has recently releases report titled “Small Molecule API Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global small molecule API market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the small molecule API market?
The global small molecule API market size reached US$ 173.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 247.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What is Small Molecule API?
Small molecule active pharmaceutical ingredients (API) refer to low molecular weight compounds that interact with biological macromolecules like proteins or enzymes to treat or prevent diseases. Unlike large molecule APIs, which are typically biological products like antibodies or proteins, small molecules can easily diffuse across cell membranes, allowing for a broad range of biological activities. They are generally administered orally in the form of tablets or capsules, although they can also be delivered through other routes. Small molecules serve as the basis for a vast majority of pharmaceutical drugs used today, including antibiotics, antivirals, and medications for chronic conditions like hypertension and diabetes.
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What are the growth prospects and trends in the small molecule API industry?
The increasing prevalence of chronic diseases like diabetes, hypertension, and cardiovascular disorders requires medications based on small-molecule APIs, which represents one of the key factors driving the growth of the market across the globe. Small molecules are generally less expensive and less complex to manufacture than large molecules, thus making them attractive to pharmaceutical companies. Technological advancements in drug discovery methods, such as high-throughput screening, are facilitating the identification of effective small molecules, which is accelerating the market growth. Advances in genomics and personalized healthcare are driving the need for specialized medications, where small molecule APIs play a critical role. The rise in outsourcing API manufacturing to specialized companies enhances the production capabilities of small molecule APIs. The ease of distributing small molecule drugs, due to their stability and less stringent storage requirements, makes them suitable for global markets, including emerging economies. High investments in research and development (RD) activities by pharmaceutical companies contribute to the discovery and commercialization of new small molecule drugs which is fueling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Synthetic
- Biotech
Breakup by Manufacturing Method:
- In-house
- Outsourced
Breakup by Application:
- Ophthalmology
- Cardiovascular
- Metabolic
- Dermatology
- Respiratory
- Urology
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgical Centers
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- AstraZeneca plc
- Baxter International Inc.
- Cambrex Corporation
- Dr. Reddy’s Laboratories Ltd.
- Lonza Group AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Limited
- Teva Pharmaceutical Industries Ltd.
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