Published Date: 30-Sep-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Synthetic Small Molecule API Market size is expected to reach $187.8 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
The In-house market shows the highest revenue in the Global Synthetic Small Molecule API Market by Manufacturer in 2021; thereby, achieving a market value of $118.1 billion by 2028. It is possible to attribute the segment's growth to manufacturers' efforts to reduce their dependence on CDMOs and suppliers for raw materials and instead focus on developing APIs. To support the growth of small-molecule technology, Lonza opened a new manufacturing complex in Visp, Switzerland, in April 2021.
The Oncology market would witness a CAGR of 5.9% during (2022 - 2028). One of the main factors propelling this market is the rising incidence of cancer worldwide. Several novel treatments are also being released as a result of increased oncology research and development, which further increases oncology acceptance and supports the oncology segment's growth. For instance, nine innovative medications that were created from small molecule API were released in 2021 to treat different types of cancer.
The North America market dominated the Global Synthetic Small Molecule API Market by Region in 2021; thereby, achieving a market value of $70.5 billion by 2028. The Europe market is experiencing a CAGR of 5.2% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Merck & Co., Inc., Viatris, Inc., Cipla Limited, Teva Pharmaceuticals Industries Ltd., Sun Pharmaceuticals Industries Ltd., AbbVie, Inc., Bristol Myers Squibb Company, Boehringer Ingelheim International GmbH, Aurobindo Pharma Limited and Albermale Corporation
Unique Offerings from KBV Research