Small Molecule API Market Size, Share & Growth Analysis, [2030] | With CAGR of 6.8%

Pune, India, Dec. 08, 2023 (GLOBE NEWSWIRE) — The small molecule API market size is projected to grow from USD 154.95 billion in 2023 to USD 246.22 billion by 2030, exhibiting a CAGR of 6.8% during the forecast period.  Increasing global chronic disease rates have driven pharmaceutical companies to develop more therapeutic drugs to meet rising demand.

Fortune Business Insights presents this information in their report titled “Global Small Molecule API Market, 2023–2030.”

Key Industry Development: 
January 2022 – Pfizer Inc. announced that the U.S. FDA approved CIBINQO for the treatment of adults living with refractory, moderate-to-severe Atopic Dermatitis (AD).

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Key Takeaways:

• The pharmaceutical industry heavily favored small molecule APIs for their ability to be taken orally and penetrate cell membranes, offering unique therapeutic benefits.
• Rising global chronic disorders have increased the worldwide patient population, consequently driving a higher demand for new therapeutic products.
• North America accounted for the highest small molecule API market share and generated a revenue of USD 55.25 billion in 2022.
• The oncology segment dominated the market and is expected to grow at a higher CAGR.

List of Key Players Profiled in the Report

Teva Pharmaceutical Industries Ltd. (Israel), Cipla Inc. (India), Dr. Reddy’s Laboratories Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), Aurobindo Pharma (India), Merck KGaA (U.S.), AbbVie Inc. (U.S.), Lonza (Switzerland), Sanofi (France), Pfizer Inc. (U.S.)

Report Scope:

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Segments:

Increased R&D Efforts by Market Participants for Branded Products to Lead to the Segment’s Dominance

Based on type, the market is segmented into branded and generic. 

The demand for branded pharmaceuticals has been steadily declining over the years due to the main blockbuster drugs coming off-patent and their relatively high cost. As a result, it is anticipated that sales of generic small molecule APIs will increase significantly throughout the course of the projected period. Additionally, it is anticipated that the growing popularity of over-the-counter medicines and their relative affordability will support the rise of the generic market. 

Due to Strong Pipeline, Oncology Segment is Expected to Dominate

On the basis of indication, the market is segmented into oncology, diabetes, and others.

The oncology segment is anticipated to expand at a faster CAGR due to a number of factors, including the rising incidence of cancer worldwide and the development of more effective new therapies. Throughout the past few decades, there has been a considerable increase in the creation and discovery of new small molecule cancer drugs. Pharmaceutical companies are putting a lot of emphasis on targeted medications, which have a high potency and minimal toxicity and can target cancer cells specifically.

Raw Material Availability will Propel the Captive Segment

On the basis of manufacturing type, the market is segmented into captive and merchant.

In 2022, the captive segment held the biggest global market share. It has been crucial for pharmaceutical corporations to concentrate on the internal production of active pharmaceutical components now that raw materials are readily available and that significant investment has been made by pharmaceutical organizations to establish innovative manufacturing facilities. Also, the growth of the captive segment is being fueled by strategic actions taken by big players such as the expansion of manufacturing facilities and the signing of supply agreements with other players. 

By Type

By Indication

By Manufacturing Type

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Drivers & Restraints:

Pharmaceutical Product’s Increased Demand and Growing R&D Developments Drive Market Growth

The patient population across the globe has been rising due to the increasing prevalence of chronic diseases, which has resulted in demand for new therapeutic products. Pharmaceutical companies have increased their investment in research and development to focus on the production of therapeutic drugs that can be used as a substitute for the treatment of chronic disorders. Large pharmaceutical corporations’ actions will increase the market share of small molecule APIs.
 
However, increasing production of new biologic drugs, which can be used as an alternative to small molecule APIs while treating patients with various chronic diseases, may impede the market growth.

Regional Insights

Several People Suffering from Chronic Illnesses Contributed to the North America Market Growth

In 2022, the North America small molecule API market share was the largest and generated revenues of 55.25 billion. During the projected period, the regional market is expected to grow. Factors contributing to the growth of this region are the growing incidences of chronic diseases and government initiatives toward developing novel therapeutic drugs. For the treatment of several chronic diseases, small molecule drugs are used, which is driving the growth of the market.  

Europe witnessed positive growth trajectory in 2022 due to rise in funds for R&D initiatives and the presence of major pharmaceutical manufacturing companies in the region.
 

Competitive Landscape

Major Corporations Control the Market due to Diversified Product Portfolio

The global market is somewhat fragmented, with the key companies having a diverse portfolio. The presence of manufacturing facilities with advanced technologies and their approaches and persistent efforts toward launching new products have led to the key market players’ dominance. Apart from large pharmaceutical corporations, small and medium businesses in the market focus on launching small molecule therapeutic agents in the market. Companies focus on getting regulatory approvals to increase their market share.

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FAQ’s

How big is the Small Molecule API Market?

The small molecule API market size was valued at USD 146.14 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% during the forecast period, 2022-2030

What is the current size of Small Molecule API Market?

Global small molecule API market projected to reach USD 246.22 billion by 2030, exhibiting a CAGR of 6.8%.

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