The global HPAPI
market is expected to reach USD 25.86 billion by 2022, according
to a new report by Grand View Research, Inc. The increasing number of aspiring
manufacturers aiming to produce fast relief therapeutics in the developing
economies of India and China is expected to enhance demand over the forecast
period.
In addition, favorable regulations and healthcare reforms for
the commercialization and R&D of novel HPAPI are expected to drive market
growth during forecast period. Extensive capitalization required for
manufacturing plant setup has led to an increase in the number of CMO providing
outsourcing services.
North America HPAPI market, by product,
2012-2022 (USD Million)
Further key findings from
the study suggest:
·
The
synthetic HPAPI market was the largest in 2014 in terms of revenue. The biotech
HPAPI segment is identified as the most lucrative and its market is expected to
grow at a CAGR of 14.7% from 2015 to 2022. The demand is driven by factors such
as the growing demand for cancer therapeutics and increasing R&D
investments.
·
Innovative
HPAPIs dominated the overall drug type market in 2014. On the other hand, the
generic drugs market is expected to grow at the fastest rate of over 12.5% during
the forecast period. Some factors attributing to its growth include patent
expiration of many drugs and increasing demand for cancer treatment.
·
The
outsourced manufacturing segment is expected to witness lucrative growth over
the forecast period as major pharmaceuticals are focused on rigorous R&D
activities for new drug development. Growing demand for outsourcing as a viable
cost curbing initiative is likely to boost demand during the forecast period.
·
The
oncology treatment segment accounted for the largest revenue share as of 2014,
due to, the increasing demand for anti-cancerous drugs. In addition, the
growing geriatric population base prone to chronic diseases and awareness
levels pertaining to the benefits with associated HPAPI are some key factors
contributing to segment growth.
·
North
America was the largest regional market with revenue valued at over USD 4.5
billion in 2014. Growing prevalence of target population, rising patient and
healthcare professional awareness levels and established R&D infrastructure
for novel drug development are factors attributing to its market position.
Expiration of patents of key branded drugs in the North American and European
countries is also expected to improve usage rates.
·
Asia
Pacific is expected to register significant growth over the forecast period
with its market growing at a CAGR of 14.0% owing to, the presence of untapped
opportunities in emerging economies, growing investments in biotechnology
sector, supportive government initiatives and rapidly growing oncology market.
Additionally, increasing penetration of generic drugs in the region is expected
to provide a lucrative growth platform for key market players to capitalize on.
·
Key
players of the HPAPI market include Bristol-Myers Squibb, Pfizer Inc, Pfizer
Inc, Covidien Plc., and Sigma-Aldrich Corporation among others. Entering into
untapped territories via agreements with local manufacturers and distributors
is a viable sustainability strategy adopted by these players.
Grand View Research has segmented the
global HPAPI market on the basis of product, manufacturer, drug type,
application and region:
HPAPI Product
Outlook (Revenue, USD Million, 2012 – 2022)
- Synthetic
- Biotech
HPAPI
Manufacturer Outlook (Revenue, USD Million, 2012 – 2022)
- Inhouse
- Outsourced
HPAPI Drug Type
Outlook (Revenue, USD Million, 2012 – 2022)
- Innovative
- Generic
HPAPI Therapeutic
Application Outlook (Revenue, USD Million, 2012 – 2022)
- Oncology
- Hormonal
- Glaucoma
- Others
HPAPI Regional
Outlook (Revenue, USD Million, 2012 – 2022)
- North America
- Europe
- Asia Pacific
- Row
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