Global Synthetic Small Molecule API Market is valued at approximately USD 131.55 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.73% over the forecast period 2022-2029. Synthetic small molecule active pharmaceutical ingredient (API) is generally formed of 20-100 atoms that are purified, well-defined, and easily studied ingredients. Synthetic small molecule API is highly used in the treatment of several ailments and illnesses and has various mechanisms of action. The rising prevalence of chronic diseases such as cancer, cardiovascular, etc., growing outsourcing of API production, coupled with the flourishing growth of the pharmaceutical industry are the primary factors that are propelling the market growth across the globe.
According to Statista, in 2018, the global pharmaceutical sector is estimated to produce a revenue of USD 1204.8 billion, and the amount grows and reached USD 1423.5 billion in the year 2021. Also, the pharmaceutical industry is expected to constantly grow, which is augmenting the market growth worldwide. Moreover, the growing investment in R&D activities and rapid launch of novel molecules by the key market players are presenting various growth prospects to the market over the forecasting years. However, the introduction of biologics and the lack of skilled professionals are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Synthetic Small Molecule API Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the space in terms of revenue, owing to the rising emphasis on the development of less complex molecules and the introduction of novel products. Whereas, the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as growing support from the government with favorable initiatives, coupled with the development of the emerging economies.
Major market players included in this report are:
Bristol-Myers Squibb Company
Boehringer Ingelheim International GmbH
Merck & Co., Inc.
Sun Pharmaceutical Industries Ltd.
Teva Pharmaceutical Industries Ltd.
Recent Developments in the Market:
In 2021, Rhizen Pharmaceuticals publicized that the company received FDA approval for its PI3K-delta inhibitor- a new drugUmbralisib, which is designed for the treatment of adults with refractory and relapsed marginal zone lymphoma and follicular lymphoma.
Global Synthetic Small Molecule API Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Manufacturer, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
CNS and Neurology
Rest of the World