Global Microbial API Market Size and Trends
The global microbial API market size is expected to reach US$ 96.11 Bn by 2030, from US$ 61.21 Bn in 2023, at a CAGR of 6.7% during the forecast period.
Global Microbial API Market Trends:
- Increasing adoption of generic drugs: The increasing adoption of generic drugs is positively influencing the microbial API market. As generic drugs offer cost-effective alternatives to branded medications, more patients are opting for generic options to treat diseases such as diabetes, cancer, hypertension, and other conditions. The easy availability and lower prices of generic drugs have encouraged people to seek medical help for health issues. This is expected to encourage pharmaceutical companies to develop more cost-effective generic drugs.
- Shift towards biologics from conventional drugs: The shift towards biologics from conventional drugs is expected to have a significant impact on the microbial API market. Biological drugs are increasingly becoming the preferred treatment option over traditional pharmaceuticals owing to their targeted mechanisms of action, improved efficacy, and favorable safety profiles. As biologics are large, complex molecules, they are capable of acting with higher specificity on certain biomolecular targets, such as in pain pathways. This allows them to achieve better clinical outcomes with fewer side effects for chronic pain conditions like arthritis, lower back pain, and neuropathic pain, which cannot be adequately managed with conventional oral analgesics. Thus, the shift from conventional drugs to biologics is also expected to increase the demand for microbial APIs.
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