High Potency APIs Market Overview: Type and Applications, Trends, Industry Analysis & Forecast, 2018-2023
High Potency APIs Market OverviewAccording to the latest analysis published by Market Research Future (MRFR), the global High Potency APIs Market is set to strike a CAGR of 8.40% during the forecast period 2018 to 2023. The valuation of the market is expected to reach USD 26.6 Bn by 2023-end from USD 16.3 Bn in 2017. High potency APIs facilitate precision and targeted therapy approach. Thus, the rising prevalence of chronic and old age diseases have intensified the demand for HPAPIs.
The rapid expansion of cancer patient pool is forecasted to accelerate the revenue creation for the market players globally. According to ‘Our World in Data’, 8.9 million people are estimated to have succumbed to cancer in 2016. Investments are expected to flow towards drug development which is likely to augment the global market through the review period. The competitive landscape of the market is highly lucrative and rising investments is prognosticated to boost the manufacturing of HPAPIs. Furthermore, the key players are anticipated to strategize agreements, acquisitions, and partnerships for gaining edge over competitors.
The developments witnessed in the healthcare sectors of the fast-developing economies such as China, India, and Japan are forecasted to revolutionize the HPAPI market in the foreseeable future. Nevertheless, lack of global regulatory framework is expected to hold the expansion of the market across the projection period.
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Global High Potency APIs Market – Segmental Analysis:
This MRFR’s report offers a detailed segmental analysis of the global high potency APIs market based on product, type and therapeutic area. By product, the global market has been segmented into biotech and synthetic. The rising demand for antibody-drug conjugates (ADCs) is expected to propel the expansion of the biotech segment in the foreseeable future.
By type, the market has been segmented into novel or innovative, and generic. The growth of the innovative segment can be ascribed to the availability of massive funds for research & development by the manufacturers.
By therapeutic area, the market has been segmented into oncology, glaucoma, hormonal, and others. The glaucoma segment is projected to witness substantial growth in demand over the assessment period.
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The high potency APIs market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. North America is one of the key regional markets of the global market. It is expected to witness substantial growth over the next couple of years. The strong value maintained by the healthcare sector in the region coupled with the rising prevalence of chronic diseases is projected to drive the expansion of the market in the upcoming years. The region accounts for a significant share of the cancer patient pool which is another major factor responsible for the growth of the regional market.
Investments are likely to flow towards the market, thus, catalyzing drug innovations and drug developments in the market. The support extended by governments in the form of favorable regulations are anticipated to aid the market proliferation during the review period.
The region is poised to witness demand generation at a rapid pace for effective and highly potent drugs, which is likely to pave the way for clinical researches. This, in turn, has been expected to catapult the market in North America on an upward trajectory. The factors that are predicted to indirectly favor the expansion of the market are increasing incidences of old age diseases, changing lifestyle, rising count of biotechnology industries, etc.