The global small molecule API market is poised to grow at stupendous rate during the forecast period of 2019 to 2028. Key reason for this growth is rising demand for small molecule active pharmaceutical ingredient (API) owing to its ability to help in controlling biological processes. Small molecule API is an organic compound with low molecular weight and significantly smaller size such as of 1 nm. Majority of the small molecule can be given orally and are absorbed easily by the body. Owing to small size of this molecule, it swiftly diffuses and reaches to intracellular action site.
An upcoming research report from TMR on the small molecule API market offers complete analysis of vital elements supporting and hindering market growth. In addition, it provides dependable data on potential growth avenues. The report covers valuable information of the small molecule API market for the forecast period of 2019 to 2027.
The global small molecule API market is segmented on the basis of various key factors including API type, application, and region. Based on application, the market for small molecule API is classified into cardiovascular, oncology, metabolic, neurology, and infectious.
The global small molecule API market is growing at rapid pace on the back of rising number of critical diseases such as cancer, cardiovascular, and infections. This situation has created remarkable avenues for the development of companies engaged in the manufacturing of small molecule APIs.
Patents expiry of the top-selling pharmaceuticals is working as a driver for the global small molecule API market growth. In recent years, there is growing awareness in the major worldwide population regarding their overall health and advantages of small molecule API. In addition to this, increasing technological developments in manufacturing sector are fueling the growth of the global small molecule API market.
The global small molecule API market is moderately fragmented in nature. Presence of numerous well-established players denotes that the competitive landscape of the market for small molecule API is extremely intense. Major companies working in this market are using various strategies to stay ahead in the competition. Several key players are increasing investments in research and development activities. By using this move, they are advancing the quality of products they offer. Apart from this, many players are entering into partnership and collaboration agreements. These tactics are helping enterprises to expand their regional presence. All these activities connote that the global small molecule API market will grow at a stupendous rate in the upcoming period.
The list of key players in the global small molecule API market includes:
The global small molecule API market is spread across North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, North America is one of the prominent regions in the market for small molecule API. The region held lion’s share in the market growth in the earlier years owing to increased acceptance of accelerated regulatory review of innovative medicines.
Asia Pacific is projected to offer lucrative avenues for players from the small molecule API market in the forthcoming years. Key reasons supporting this growth are advancing pharmaceutical and healthcare sectors, strong research and development activities in API, and considerable number of people living with various disease conditions.