The Asia Pacific API Intermediate Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).
The increasing frequency of different diseases is one of the key factors driving the market. The most frequently prescribed synthetic medications are used to treat diabetes and hypertension. It significantly contributes to the disease burden in developed and developing countries as a risk factor for ischemic heart disease and stroke.
The indications above are significant risk factors for other diseases and syndromes, including ischaemic heart disease, glaucoma, and cancer. Pharmaceuticals that have been artificially created, such as metformin, atorvastatin, and enalapril, are frequently prescribed to treat the indications mentioned above. The rising prevalence of various diseases, including illnesses with a variety of etiologies, is therefore anticipated to fuel demand for pharmaceutical drugs for disease management, which in turn is expected to contribute to the demand for APIs, positively affecting the expansion of the market throughout the forecast period.
According to the International Diabetes Federation, more than 60% of those who have diabetes reside in Asia, with nearly half of them in China and India combined. According to WHO, China has one of the world's fastest-rising aging populations. Due to rising life expectancy and falling birth rates, 28% of China's population is expected to be over 60 by 2040. The prevalence of diseases like diabetes, cancer, and others is anticipated to rise along with the aging population as they are predicted to be more susceptible to developing a variety of ailments. The market participants operating in the regional nations are expected to have significant growth opportunities due to all these factors.
The China market dominated the Asia Pacific API Intermediate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $23.7 billion by 2030. The Japan market is anticipated to grow at a CAGR of 6.9% during (2023 - 2030). Additionally, The India market would register a CAGR of 8.3% during (2023 - 2030).
Based on Type, the market is segmented into Bulk Drug Intermediates, and Chemical Intermediates. Based on End User, the market is segmented into Biotech & Pharmaceutical Companies, CMO, and Others. Based on Application, the market is segmented into Analgesics, Antidiabetic Drugs, Anti-Infective Drugs, Cardiovascular Drugs, Anticancer Drugs, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide API Intermediate Market is Projected to reach USD 237.7 Billion by 2030, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cation Pharma, Espee Group, Sandoo Pharmaceuticals and Chemicals Co., Ltd., Cipla Limited, Cambrex Corporation, Vertellus, Dr. Reddy’s Laboratories Ltd., Evonik Industries AG (RAG-Stiftung), Pfizer, Inc., Shree Ganesh Remedies Limited.
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