Active Pharmaceutical Ingredients MarketSize and Trends

The global active pharmaceutical ingredients market is estimated to be valued at US$ 235 Billion in 2023 and is expected to exhibit a CAGR of 6.8% during the forecast period (2023-2030).

Figure 1. Global Active Pharmaceutical Ingredients Market Share (%), By Product Type, 2023

Global Active Pharmaceutical Ingredients Market – Drivers

The rise in prevalence of various infectious diseases and chronic disorders: The prevalence of chronic diseases like cardiovascular disorders, diabetes, and cancer has been increasing globally. APIs are used in the production of medications for these conditions, driving the demand for APIs. For instance, according to the Joint Research Center of the European Commission, the number of new cancer cases in Europe rose to 2.7 million in 2020, with 1.3 million deaths reported. Moreover, according to the World Health Organization (WHO) report published in September 2022, noncommunicable diseases (NCDs) or chronic diseases cause 41 million deaths each year, equivalent to 74% of all deaths globally. Additionally, the World Health Organization (WHO) reported that cardiovascular diseases caused more than 17.9 million deaths globally, accounting for 32% of all deaths.

Figure 2. Global Active Pharmaceutical Ingredients Market Share (%), By Region, 2023