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The active pharmaceutical ingredients market is projected to reach USD 238.3 billion by 2029 from an estimated USD 163.5 billion in 2024, at a CAGR of 7.8% during the forecast period. The major factors driving the growth of this market include the increasing R&D funding, increasing outsourcing of active pharmaceutical ingredients manufacturing services, increase in healthcare expenditure. However, the complications during API manufacturing, low profit margins and high manufacturing costs is a major factor restraining market growth to a certain extent.

The global active pharmaceutical ingredients market is a consolidated with top players such as, Pfizer Inc. (US), Teva Pharmaceutical Industries Ltd. (Israel), GSK PLC (UK), Sanofi (France), and  Viatris Inc. (US).

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Pfizer Inc. (US)

Pfizer Inc. dominated the active pharmaceutical ingredients market in 2023. The company's leading position is mainly attributed to its exhaustive product portfolio. The company’s strong brand image and sales and distribution network enable it to cater to a large consumer base and give it a competitive edge over the other players. With a strong global presence, Pfizer provides APIs under its CentreOne business segment. With a strong geographic presence, a broad portfolio of APIs, and continuous expansion in developed and developing regions, the company is expected to grow at a high rate in the active pharmaceutical ingredients market during the forecast period.

Teva Pharmaceutical Industries Ltd. (Israel)

Teva Pharmaceutical Industries Ltd. is one of the prominent players in the active pharmaceutical ingredients market. The prominent position of the company is majorly attributed to its exhaustive product portfolio of over 350 API products. Teva-API is the business unit responsible for the supply and production of APIs. The broadest API portfolio, coupled with a strong geographic presence, has ensured the company’s leading position in the active pharmaceutical ingredients market.

GSK Plc (UK)

GSK is involved in the contract manufacturing of APIs in the UK, Singapore, and Australia. The company also manufactures APIs for their own use, which is used in specialty medicine and general medicine. Furthermore, in September 2022, In an effort to minimize its environmental impact, GSK introduced a new Sustainable Procurement Programme. This program will guide their suppliers towards achieving net zero emissions and a positive influence on the environment. The initiative acknowledges that supply chains are a major source of environmental strain within the pharmaceutical industry, especially for resource-intensive processes like API manufacturing, which are resource-intensive in terms of heat, energy, and water production. Thus, a broad API portfolio and environment-friendly manufacturing of APIs leads GSK to the top position in the global active pharmaceutical ingredients market.

Sanofi (France)

Sanofi is a pharmaceutical company that develops and manufactures healthcare products. The company operates through two business segments: Biopharma and Consumer Healthcare. The company manufactures APIs for self-use through its Biopharma segment. In January 2021, Sanofi chose EUROAPI as the name for the future leading European company that will develop, produce, and market APIs. on May 3, 2022, in connection with the proposed spin-off, French Tech Souveraineté purchased 12% in EUROAPI shares from Sanofi for up to USD 162 million (EUR 150 million), with the The final purchase price for EUROAPI will be based on the average trading price of its shares on the Euronext Paris stock exchange over the first 30 days of trading. After the deal closes, Sanofi will still own around 30% of EUROAPI and they plan to be a long-term partner, helping EUROAPI grow as an independent company.

Viatris, Inc. (US)

Viatris Inc. is a global healthcare company formed through the combination of Mylan and Upjohn, a legacy division of Pfizer, in 2020. The company offers APIs for antibacterials, central nervous system agents, antihistamines/antiasthmatics, antivirals, antidiabetics, antifungals, and proton pump inhibitors. The company has a wide global presence, as it offers APIs in over 100 countries. Viatris has 50 manufacturing facilities worldwide and global centers in Bangalore, India; Pennsylvania, US; and Dublin, Ireland. The company’s global R&D centers are located in India and the US. Viatris has 12 R&D sites across Europe, India, Japan, and the US. Thus, broad product portfolio and high investment in R&D of innovative APIs leads Viatris the competitive  position in the global active pharmaceutical ingredients market.

Related Reports:

Active Pharmaceutical Ingredient Market by Type (Innovative, Generic), Manufacturer (captive, merchant), Synthesis (Synthetic, Biotech), Products (mAb, Hormones, Cytokines), Drug (OTC, Rx), Application (Diabetes, oncology, CVD) - Global Forecast to 2029

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