Global Active Pharmaceutical Ingredients Market is poised to grow significantly between 2023 and 2032, primarily owing to the increasing prevalence of chronic diseases. According to the Centers for Disease Control and Prevention estimates, approximately 60% of the total adult American population is currently suffering from chronic diseases such as heart disease, cancer, and diabetes.
Overall, the global active pharmaceutical ingredients market has been segmented in terms of therapeutic category, synthesis, contract outsourcing, application, drug, and region.
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Based on the therapeutic category, the anti-diabetics segment is anticipated to grow rapidly, accounting for more than USD 85 billion by 2032 end. The segmental growth can be accredited to the mounting cases of diabetes, especially among adults, and the development of effective medications to treat diabetes. As per the National Diabetes Statistics Report for 2020, in the USA, more than 34.2 million people suffer from diabetes.
In terms of synthesis, the chemical-based API segment will experience robust growth through 2032, due to advances in areas such as electrochemistry, reductive coupling, photoredox catalysis, and flow chemistry.
On the basis of application, the veterinary segment held more than 17% revenue share in 2022. The increasing awareness about animal health is expected to prompt the segment growth in the coming years. Besides, various governmental organizations are also leading awareness campaigns pertaining to animal health and pet adoption. Citing an instance, in June 2022, the USDA's Animal and Plant Health Inspection Service (APHIS) launched an awareness campaign, "Protect Our Pigs". This campaign was aimed to raise awareness about the spread of African swine fever in the USA and support pig owners, pork producers, and veterinarians.
In the context of the drug, the OTC segment is set to expand rapidly within the next ten years. Factors such as reduced prices and easy availability of drugs are anticipated to impel the product demand. Besides, governments from across the globe are also mulling up efforts to reduce the cost of essential drugs. For instance, in 2022, President Biden signed the Inflation Reduction Act of 2022 into law, which includes various provisions to lower the cost of prescription drugs for those people who have Medicare.
In the regional context, the North America active pharmaceutical ingredients market is set to grow significantly through 2032, owing to the availability of a range of pharmaceutical companies in the region. Besides, the outbreak of COVID-19 has also bolstered the regional market scope over the recent years.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market scope & definitions
1.3 Base estimates & working
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Active Pharmaceutical Ingredients industry 3600 synopsis, 2018-2032
2.1.1 Business trends
2.1.2 Therapeutic category trends
2.1.3 Synthesis type trends
2.1.4 Contract outsourcing type trends
2.1.5 Application trends
2.1.6 Drug type trends
2.1.7 Regional trends
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