The global High Potency API Contract Manufacturing Market Size was worth US$ 8 billion in 2022 and is predicted to be worth US$ 16 billion by 2032, growing at a CAGR of 7% during the forecast period. Because of the increasing frequency of cancer occurrences worldwide, the market is being driven by the use of HPAPIs.
Furthermore, the government is funding medicinal substance discovery and research, which is projected to propel the High Potency API Contract Manufacturing market forward. Contract product manufacture is employed due to the large investment capital necessary for manufacturing and production facilities. This will boost the global market throughout the forecast period.
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Some of the factors driving market expansion include rising pharmaceutical demand, a higher emphasis on precision medicine and high-potency APIs, and technological advancements in high-potency API synthesis.
The International Agency for Research on Cancer (IARC) has updated GLOBOCAN 2020 with fresh cancer burden forecasts, forecasting a 19.3 million case and 10 million cancer death burden in 2020. More than 50 million people will be diagnosed with cancer in the next five years, according to this new study. The use of high-potency API in various therapeutic regimens is also contributing to market growth.
Key Takeaways from the Market Study
- FMI projects the global High Potency API Contract Manufacturing market to expand at a 7% value CAGR by 2032
- The global High Potency API Contract Manufacturing market is estimated at a market value of US$ 8 Billion
- The global High Potency API Contract Manufacturing market is expected to garner a market value of US$ 16 Billion
- By application, oncology to experience major HPAPI contract manufacturing activities, yielding 63% of global revenue
“Demand for contract manufacturing of HPAPIs has expanded dramatically in recent years, and is one of the primary drivers of the global HPAPI market, owing to a rising number of prospective phase 3 drug candidates.” Says an analyst at FMI
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Market Competition
Piramal Pharma Solutions, Lonza, Catalent, Inc., VxP Pharma, Inc., Pfizer CentreOne, Gentec Pharmaceutical Group, AbbVie, Aurigene Pharmaceutical Services Ltd., CordenPharma International and Curia Global, Inc., are some prominent High Potency API Contract Manufacturing manufacturers.
- In June 2021, Lonza, for example, spent USD 21.5 billion in its Nansha, China, plant to enhance its API development and manufacturing capacity. Three 1,000 L GMP trains totalling 12 cu. ft. of reactor volume m. Additional expenditures will be made, as well as new research and GMP facilities capable of creating small-scale batches of highly effective APIs.
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