The U.S. Active Pharmaceutical Ingredients Market size is estimated to be growing at a CAGR of 10.24% between 2021 to 2026.
The active pharmaceutical ingredients market is projected to be majorly driven by the factors such as the prevalence of chronic diseases, the growing uptake of biopharmaceutical, and the rising importance of generics. On the other hand, growth can be attributed to the advancements in active pharmaceutical ingredient manufacturing and growing healthcare infrastructure. Over the years, U.S. has witnessed rising cardiovascular diseases, which is expected to improve the market growth. However, growing diabetes, asthma, and chronic obstructive pulmonary diseases have increased in the geriatric population across the united states.
Significantly growing drug research and development provide multiple opportunities for the manufactures to introduce advanced active pharmaceutical products. API in a drug is specifically used for treating, diagnosing, mitigating, or preventing human health problems. Also, it has a significant effect on the body's physiological functions, repairing, changing, or altering them, which is more likely to show a positive impact on the market growth. Active Pharmaceutical ingredients have a wide range of applications in the pharmaceutical industry, including oncology, central nervous system disorders, diabetes, neurological disorders, cardiovascular disease, pulmonary disease, and so on, which creates U.S. Active Pharmaceutical Ingredients Market growth.
Favorable government policies for API development, increasing incentives, and investment by the private and government organizations in the United States are likely to increase the market growth. Since ADCs are essential and effective cancer therapy modalities used in combination with clinically active drugs and monoclonal antibodies, the development of cancer-specific APIs is expected to propel the U.S. API market even further.
Active pharmaceutical component manufacturers must make costly investments to update their manufacturing facilities to meet requirements such as c GMP, which is a significant challenge for market growth. API chemical synthesis also requires costly and rare building blocks and raw materials, further increasing API manufacturing costs.
Impact of COVID-19 on the U.S. Active Pharmaceutical Ingredients Market:
The emergence of the COVID-19 pandemic in 2020 has had a positive impact on the market. Countries and major players are producing massive quantities of ingredients to meet the demand for COVID 19 treatment. However, during the first half of 2020, the market had a downfall on U.S. active pharmaceutical ingredients market. The virus had impacted the United States' drug supply chain and manufacturing of pharmaceutical products due to lack of workforce. However, to remain competitive in the market, large companies in the united states are introducing emerging technology and launching new products. Mergers and acquisitions, as well as innovative product growth, are examples of competitive strategies. Pfizer (US), for instance, signed a multi-year deal with Gilead Sciences Inc. in 2020 to manufacture and supply Gilead's antiviral medication (Remdesivir) for the treatment of COVID-19. Due to the COVID-19 outbreak, drug companies have redirected their models to focus on a larger consumer pool.
This research report on the U.S. active pharmaceutical ingredients market has been segmented and sub-segmented into the following categories.
By Type of Manufacturing Process:
By Type of Synthesis:
By API Formulation:
The United States had recorded the largest market share of active pharmaceutical ingredients in 2020 in the global market, and it is expected to continue to grow further during the forecast period. Increased technological advancements would boost the capabilities and manufacturing expertise of market players, allowing them to supply APIs in bulk to meet consumer demand, thereby propelling the active pharmaceutical ingredients (API) market. The growing prevalence of preventable chronic diseases, increased government emphasis on generic drugs, and the demand for biologics and specialty medicines contribute to the United States' vast share of the North American market. The united states market growth has significantly increased over the years as Large firms in the United States are adopting digital technologies and releasing new goods to remain competitive. Mergers and acquisitions, as well as the creation of new products, are examples of competitive strategies.
KEY MARKET PLAYERS:
Companies such as Sanofi, Bayer AG, Pfizer Inc., F. Hoffmann-La Roche AG, Abbott Laboratories, Merck & Co., Inc., Boehringer Ingelheim GmbH, GlaxoSmithKline Plc (GSK), Novartis AG, Eli Lilly and Company, and Teva Pharmaceutical Industries Ltd are playing a significant role in the U.S. active pharmaceutical ingredients market.