An FMI report released recently projects that the global high potency API contract manufacturing market will expand at a compound annual growth rate (CAGR) of 7% between 2022 and 2032. It is projected that the market will be worth US$ 8 billion at the end of the evaluation period.
Rising breakthroughs in high potency API (HPAPI) manufacturing technologies, combined with the quest for more effective drugs to improve patient outcomes, have significantly increased the number of HPAPIs in development pipelines, accelerating industry growth. Furthermore, a rising tendency in outsourcing operations due to greater risk management, lower costs, and the availability of modern ways to HPAPI controls has fueled growth.
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From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 5% and closing at US$ 6.5 Billion. The sector is seeing profitable expansion, and suppliers are quickly investing in new facilities and expanding their R&D laboratories. Piramal Pharm Solutions, for example, plans to expand its API and HPAPI research and manufacturing facilities in Michigan with increased capacity and additional capabilities in December 2020. To fulfill predicted demand, which included prospective possibilities, the corporation spent US$ 32 million in the plant. HPAPI regulatory oversight has grown stronger over time.
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
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.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global automotive axle market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product Type (Innovative and Generic), Synthesis (Synthetic and Biotech), Application (Oncology, Hormonal Disorders, Glaucoma and Others), Dosage Form (Injectable, Oral Solids, Creams and Others), across five major regions (North America, Latin America, Europe, Asia Pacific, South Asia, East Asia, Oceania and Middle East & Africa).
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Key Segments Profiled in the High Potency API Contract Manufacturing Market Industry Survey
High Potency API Contract Manufacturing Market by Product Type:
- Innovative
- Generic
High Potency API Contract Manufacturing Market by Synthesis:
- Synthetic
- Biotech
High Potency API Contract Manufacturing Market by Application:
- Oncology
- Hormonal Disorders
- Glaucoma
- Others
High Potency API Contract Manufacturing Market by Dosage Form:
- Injectable
- Oral Solids
- Creams
- Others
Author By:
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 areas such as 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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