Global High Potency Active Pharmaceutical Ingredients Market value worth USD 25 billion by 2021| Mar
Added: (Fri Jan 12 2018)
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The Global High Potency Active Pharmaceutical Ingredients Market was worth USD 16.5 billion in 2016 and estimated to be growing at a CAGR of 8.7%, to reach USD 25 billion by 2021. High Potency Active Pharmaceutical Ingredients (HPAPI) can be defined as a pharmacologically intermediates or substances, active at concentrations of 150 micrograms per kilogram of body weight or below. They are usually highly selective and have the potential to bind to specific receptors or bind to specific enzymes which can cause cancer, developmental disorders and reproductive problems at low doses. Many new drugs have these high potency active pharmaceutical ingredients, hence the growth of this market is high.
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These High Potency Active Pharmaceutical Ingredients have new cures to many diseases, especially cancer. After the human genome was mapped, cancer drugs were made not only for different cancers but also for different patients. However the production of these drugs is challenging since they are active at very low concentrations. They can pose health hazards to workers if there is a leakage during production and monitoring has to be done specially against contamination of drugs with foreign substances. Hence it requires specialized equipment for handling HPAPI’s and managing air quality.
The Global High Potency Active Pharmaceutical Ingredients market is driven by factors such as their low price, growing number of pharmaceutical manufacturers and patients, rising healthcare prices and government initiatives to expand the usage of generic medicines to cut down healthcare costs. A few restraints that this market is facing are high price of equipment, lack of skilled workers and stringent regulatory requirements.
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The Global High Potency Active Pharmaceutical Ingredients market is segmented on the basis of type into innovative HPAPI’s and generic HPAPI’s. Innovative HPAPI’s has the largest market share due to factors like many number of them being patented, higher price as compared to generics, pharmaceutical manufacturers focusing on production of new drugs and demand for novel anti-cancer medicines. Based on synthesis, the market is divided into biotech HPAPI’s and synthetic HPAPI’s. Synthetic HPAPI’s have a larger market share due to rise of new drugs in the market, ease of production, technological improvements in synthesis and approval for the production of new drugs. Based on therapeutic application, the market is segmented into oncology, glaucoma, hormonal balance and others. Oncology has the largest share in the market. Factors such as rising incidence of cancer and launch of new target therapies is the reason for rise in the therapeutic segment.
The Global High Potency Active Pharmaceutical Ingredients market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the largest market share in the world followed by Europe. Asia-Pacific is the fastest growing market in the world. Factors like rising incidence of cancer, increased funding in cancer research and growing demand for cancer HPAPI’s are the important factors which is likely to propel the growth of this market in future.
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Some of the major players in the market include Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), Bristol-Myers Squibb (U.S.), Boehringer Ingelheim (Germany), Teva Pharmaceutical Industries Ltd. (Israel), Merck & Co., Inc. (U.S.), AbbVie Inc. (U.S.), and Mylan Inc. (U.S.).
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