The Global Small Molecule (API) Industry is on the brink of unprecedented growth, with forecasts indicating a substantial increase from US$ 116 billion in 2023 to an estimated US$ 174 billion by 2033. This remarkable trajectory reflects a Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period.
As a cornerstone of the pharmaceutical sector, the Global Small Molecule (API) Industry plays an indispensable role in drug development and manufacturing processes. The anticipated surge in valuation can be attributed to several key factors, including heightened demand for novel therapeutic agents, continuous advancements in pharmaceutical research, and a growing global population contributing to a rise in disease prevalence.
Industry analysts highlight the robust 4.1% CAGR as evidence of sustained expansion and innovation within the Global Small Molecule (API) Industry. This growth is expected to be propelled by the unwavering commitment of pharmaceutical companies to research and development initiatives, coupled with the evolving dynamics of the healthcare landscape.
As the market continues to evolve, stakeholders, investors, and industry players are keenly watching the developments in the small molecule API sector. The anticipated increase in revenue to US$ 174 billion by 2033 underscores the market’s resilience and its vital role in shaping the future of pharmaceuticals.
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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 Global Small Molecule (API) Industry . 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 Highlights:
- Substantial Revenue Surge: The small molecule API market is anticipated to witness a significant increase in revenue, growing from US$ 116 billion in 2023 to a projected US$ 174 billion by 2033.
- CAGR of 4.1%: A robust Compound Annual Growth Rate of 4.1% reflects the steady and sustained expansion of the small molecule API market throughout the forecast period.
- Driving Forces: Factors such as heightened demand for innovative therapeutic solutions, ongoing advancements in pharmaceutical research, and a growing global population contributing to increased disease prevalence are driving the market’s upward trajectory.
- Industry Impact: The growth of the small molecule API market has far-reaching implications for pharmaceutical companies, researchers, and investors, shaping the future of drug development and manufacturing.
This impressive growth forecast positions the small molecule API market as a key player in the pharmaceutical landscape, promising opportunities for stakeholders and paving the way for advancements in healthcare globally.
“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 Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.
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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 Global Small Molecule (API) Industry 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 drugs 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 Global Small Molecule (API) Industry 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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Global Small Molecule (API) Industry 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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