The global high potency active pharmaceutical ingredient (HPAPI) market is led by players such as Alkermes plc., Cambrex Corporation, Dr. Reddy's Laboratories, and Lonza Group, among others, as per Transparency Market Research (TMR). The increasing entry barriers owing to regulatory restrictions and large capital investment have made the HPAPI market unattractive for new entrants, whereas huge gap in supply and demand lowers the competitive rivalry in the market for HPAPI. However, the rising demand for HPAPI in forthcoming years will raise the competition in the market in the coming years.
The global HPAPI market stood at US$12,644.6 mn in 2014 and is predicted to touch US$ 25,118.7 mn by 2023, rising at a 7.80% CAGR between 2015 and 2023. On the basis of therapeutic area, both cardiovascular and oncology drugs play a key role and constitute a share of 73% in the market. Amongst these, the segment of oncology drugs experienced a steep rise in the launch of cutting-edge therapeutic options. As stated by analysts, the patent expiry of blockbuster drugs including Humira, Rituxan, and Herceptin will make way for the manufacturers of generic drugs, hence making these drugs economical for more patients.
Asia Pacific to Emerge as Most Promising High Potency Active Pharmaceutical Ingredients Market
On the basis of type of HPAPI, the demand for synthetic chemical HPAPIs is more as compared biologics. Although, the highest selling drugs have biologics, still the count is quite meagre in comparison with synthetic HPAPI. In terms of geography, the region of Asia Pacific is predicted to emerge as the most promising high potency active pharmaceutical ingredients market and will exhibit a CAGR of 10.1% between 2015 and 2023. This is due to the skyrocketing contract manufacturing activities within this region. In Asia Pacific, China is predicted to outpace Japan’s current 40% share by 2025 end. On the other hand, India will also emerge as a key market owing to the increasing proliferation of activities of pharmaceutical manufacturers in this nation.
Increasing Cases of Cardiovascular Diseases Globally to Boost HPAPI Market
“The soaring research in oncology and the increasing cases of cardiovascular diseases, diabetes, and cancer have resulted in an increased demand for the required treatments, hence fuelling the growth of the global high potency active pharmaceutical ingredients market”, says a TMR analyst. In addition, the strategies of cost containment being adopted by companies via outsourcing will also work in favor of the growth of this market. Furthermore, the lucrative targeted therapeutic drugs’ pipeline will also stimulate the development of the market for HPAPIs.
However, the manufacturing of HPAPIs requires skilled workers and is capital intensive in nature. This poses a hindrance for the key players who would wish to penetrate in the market. Hence, only few key players were able to build their capabilities with the help of partnerships, research and development, and mergers and acquisitions. This gives technical expertise to only some of the main players, in return negatively impacting the growth of the market.
Nonetheless, the segment of oncology will experience patent expiry of top branded drugs as well as the introduction of number of branded drugs in the coming years. The pipeline of these drugs will bring in new opportunities in the global high potency active pharmaceutical ingredient market, states a TMR analyst.
This information is based on the findings of a report published by Transparency Market Research titled, “High Potency Active Pharmaceutical Ingredient (HPAPI) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
High potency active pharmaceutical ingredient (HPAPI) market is segmented as follows:
Global HPAPI Market, by Type
- Synthetic HPAPI Market
- Biological HPAPI Market
Global HPAPI Market, by Type of Manufacturer
- Captive or In-house HPAPI
- Contract or Third Party HPAPI Market
Global HPAPI Market, by Type of Drug
- Branded HPAPI
- Generic HPAPI
Global HPAPI Market, by Therapeutic Area
- Oncology Drugs
- Anti-diabetic Drugs
- Cardiovascular Drugs
- Central Nervous System Drugs
- Musculoskeletal Drugs
- Other Drugs
Global HPAPI Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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