The global radiotherapy devices industry is expected to reach a valuation of US$ 17.0 Billion by 2032, growing at a CAGR of 10.3% from 2022 to 2032. The market is driven by the rising prevalence of cancer and the increasing demand for effective and minimally invasive cancer treatments.
The global small molecule API market is also expected to witness significant growth in the coming years, with a projected valuation of US$ 216.97 Billion by 2032. The market is driven by the increasing prevalence of chronic diseases, the growing demand for personalized medicines, and the rising adoption of outsourcing in the pharmaceutical industry.
Small molecule APIs are low-molecular-weight drugs that can easily enter cells and interact with other molecules, such as proteins. This makes them a valuable tool for treating a wide range of diseases, including cancer, infectious diseases, and cardiovascular diseases.
The increasing prevalence of cancer is a major driver of the small molecule API market. Cancer is a leading cause of death worldwide, with an estimated 19.3 million new cases diagnosed in 2020. The increasing incidence of cancer is attributed to several factors, including aging, population growth, and lifestyle changes.
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The oncology market is growing enormously. High-potency drugs constitute significant new drugs that are under development. Small molecule demand still dominates the API market, however, new biological entity demand is also growing rapidly healthcare expenditure is resulting in new molecule discovery, the evaluation of various molecules for possible disease treatment, and the adoption of an innovative approach to these studies.
As increasing prevalence of chronic disorders like cardiovascular diseases, diabetes, cancer, and infectious diseases, and increasing research on small molecule APIs will boost the market growth. Besides this, government funding for API manufacturing units is also increasing in developing countries like India, Israel, and China. In May 2020, AstraZeneca recovered the global rights to brazikumab from Allergan. Small molecule monoclonal antibody is developed for Crohn’s Disease and Ulcerative Colitis and adds to their growing presence in Immunology
The coronavirus pandemic has changed public medical care needs and spending however this is viewed as a transient effect on the Small Molecule API market. The immense COVID-19 patient pool attracted the spotlight on the treatment of these patients, in turn increasing the demand for small molecule API.
Key Takeaways from Small Molecule API Market Study
- As a result of increasing healthcare spending and favorable reimbursement policies, the U.S. accounts for over 87% of the North American small molecule API market
- A rising focus on health and wellness will enable the U.K. to exhibit a little below 4% y-o-y growth in 2021
- Germany will account for the maximum sales in Europe. Besides this, the demand from France is expected to rise
- Increasing investment in research and development within pharmaceuticals will drive sales in China
“The market is highly competitive, compelling the key players to aim at strategic partnerships. Some of the leading players have been focusing on strategic collaborations to expand their footprint and portfolio” says the FMI Analyst
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The use of external resources (people, equipment, and/or expertise) to facilitate the preparation of Active Pharmaceutical Ingredients (API) or advanced intermediates has become a common practice for most pharmaceutical development organizations. In early development, the reasons to seek external support for the manufacture of API were attributed to several factors, including a lack of sufficient internal capacity, a need to source unique technical expertise, or a desire to achieve overall cost reductions.
For organizations that have no internal GMP manufacturing capabilities whatsoever (e.g. biotech companies), outsourcing is, of course, a necessity. However, companies that have some level of internal manufacturing capacity may have options to use outsourcing to their strategic advantage. This outsourcing capability has increased the source of generating more revenue for new emerging companies. For the fast growth of the industry, they follow outsourcing strategies.
In addition, key players in the Small Molecule API market are keenly focusing on carrying out strategic activities such as advanced technology for manufacturing, and acquisitions, to create a strong position in the market is leading to vigorous developments which is helping the market to grow at a considerable rate.
For Instance, In January 2020, Novartis acquired of operations of Aspen in Japan. This acquisition strengthened Sandoz’s position in the world market of off-patent medicines and generic drug manufacturing.
Key Participant Insights
Various manufacturers are undergoing partnerships, collaborations, acquisitions, and distribution agreements to improve their market footprint.
For Instance, in December 2020, Pfizer Inc. and PostEra announced a strategic partnership to accelerate small molecule drug discovery by developing a platform technology based on generative chemistry.
Also, in January 2020, Merck announced its strategic collaboration for an oncology platform with Taiho Pharmaceutical Co, Ltd. And Taiho Pharmaceutical Co., Ltd. to expand its focus on small molecule inhibitors for cancer research.
Key players in the Small Molecule API market are focusing on developing novel drugs due to their demand across various therapeutic areas. Some of the key players are
Hoffmann-La Roche Ltd, Albany Molecular Research Inc., AstraZeneca, Merck & Co., Inc., BASF SE, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Pfizer Inc., Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd., Novartis AG, Bristol-Myers Squibb, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, GILEAD Science Inc.,
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Small Molecule API Market by Category Molecule Type
- Standard API
- HPAPI
Production
- Captive/In-House
- Out Source
Application
- Clinical
- Commercial
Therapeutic Area
- Cardiovascular Diseases
- Respiratory Disorders
- Infectious Diseases
- Metabolic Disorders
- Oncology
- Immunology
- Neurology
- Urology
- Dermatology
- Ophthalmology
- General Health
- Others
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