The active pharmaceutical ingredient (API) market is poised to grow at a CAGR of 6.9% from 2021 to 2030, driven by several factors, including the rising prevalence of chronic disorders, the increasing significance of generic drugs, and the expanding geriatric population. As per P&S Intelligence, the market value is projected to escalate from $184,311.2 million in 2020 to $357,005.7 million by 2030. APIs, defined by the World Health Organization (WHO), are substances or combinations used in pharmaceutical products that induce the desired effects within the body.
One of the primary growth drivers of the market is the increasing incidence of chronic illnesses, including cardiovascular diseases (CVDs), cancer, respiratory conditions, and diabetes. According to WHO, CVDs, cancer, respiratory diseases, and diabetes lead to around 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths globally every year, respectively, accounting for over 80% of all premature non-communicable disease (NCD) fatalities.
Additionally, the growing elderly population, driven by longer life expectancy and lower mortality rates, is expected to further propel the market’s growth in the coming years. Older individuals often have weakened immune systems, necessitating prolonged recovery times and intensive care, which can be supported through advanced API products. The United Nations Department of Economic and Social Affairs (UNDESA) estimates that the global population of individuals aged 65 and older will rise from 727 million in 2020 to approximately 1.5 billion by 2050.
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In the therapeutic application segment, APIs are categorized for use in treating diabetes, pain management, oncology, communicable diseases, CVDs, respiratory illnesses, and more. Among these, the oncology segment led the market revenue in 2020, driven by the growing cases of cancer and the rising demand for highly potent APIs (HPAPIs). According to the International Agency for Research on Cancer (IARC), there were 2.26 million breast cancer cases, 865,630 colorectum cancer cases, 770,828 lung cancer cases, 604,127 cervical cancer cases, and 448,915 thyroid cancer cases diagnosed in women worldwide in 2020.
Market players are currently focusing on product launches and facility expansions to strengthen their presence. For example, Sanofi introduced EUROAPI, a new entity for API development, production, and marketing, in January 2021. Similarly, Sandoz, a Novartis AG division, announced in May 2021 that it would enhance its production capacities in Palafolls, Spain, and Kundl, Austria.
Regionally, North America is expected to dominate the API market during the forecast period, driven by a high prevalence of chronic conditions, a growing number of R&D initiatives, advancements in technology, increased government focus on generics, and a rising demand for specialty drugs and biologics. Additionally, increased public awareness of lifestyle-related diseases, such as diabetes, will contribute to market growth in the region.
In conclusion, the expansion of the geriatric population and the growing incidence of chronic illnesses are significant contributors to the robust growth of the API market.
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