API Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

The global API market size was valued at US$ 2.3 Bn in 2019 and to reach US$ 4.5 bn by 2028 with a CAGR of 6.3% from 2021 to 2028.

The market growth can be primarily attributed to growing applications of chondroitin sulfate in the production of different medications used to treat various diseases, particularly osteoarthritis. In addition, as manufacturers continue to find sustainable production techniques to manufacture chondroitin sulfate, the demand is further anticipated to grow in the upcoming years. The widening applications of chondroitin sulfate in the healthcare sector will remain the key factor that will boost the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market during the forecast period.

The active pharmaceutical ingredient (API) production is a critical component of drug development and any substance or combination of substances used in a finished pharmaceutical product (FPP) is called active pharmaceutical ingredient (API). The market report includes Chondroitin Sulfate, Hyaluronic Acid and Pancreatin APIs. Finished dose of any drug is a combination of active pharmaceutical ingredients and excipients. Excipient is an inactive substance in a drug dose. Chondroitin sulfate is a dietary supplement and a vital part of cartilage, while hyaluronic acid is a major API used in therapeutic products used in osteoarthritis, skin problems, and cosmetic use. Chondroitin sulfate is also used as aqua feed product.

North America dominated the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in terms of revenue in 2020 and the trend is expected to continue during the forecast period.

Rise in Prevalence of Chronic Diseases to Drive Global Market

  • Increase in prevalence of chronic diseases such as osteoarthritis and gastric diseases across the world is the major factor boosting the growth of the global chondroitin sulfate, hyaluronic acid, and pancreatin market
  • Rise in clinical studies on different grade products used for treatment of different diseases also fuels the growth of global chondroitin sulfate, hyaluronic acid, and pancreatin market
  • In June 2017, IBSA Institut Biochimique SA carried out a new clinical trial called Chondroitin vs. Celecoxib vs. Placebo Trial (CONCEPT), which exhibited that pharmaceutical grade chondroitin sulfate is as effective as an anti-inflammatory drug (celecoxib) and superior to placebo for pain reduction and improvement of functional disability in patients with knee osteoarthritis
  • Moreover, surge in drug master file (DMF) filings by India and China-based companies and availability for multiple applications are other factors accelerating the growth of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market

Hyaluronic Acid to be Dominant Product

  • In terms of product, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been divided into chondroitin sulfate, hyaluronic acid, and pancreatin
  • The hyaluronic acid segment accounted for a major market share in terms of revenue in 2020 due to increase in geriatric population, which demands higher hyaluronic acid products for anti-aging solutions, launch of advanced products containing hyaluronic acid visco-supplements, and rise in prevalence of arthritis across the globe
  • Chondroitin sulfate dominated the market in terms of volume, owing to rise in prevalence of osteoarthritis & osteoporosis, increase in adoption of chondroitin sulfate as nutraceutical supplements, and surge in clinical trials for chondroitin sulfate for bone & joint health supplements and alternate sources for obtaining chondroitin sulfate

Powder to be Promising Type

  • In terms of type, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been classified into pellets, powder, and others
  • The powder segment accounted for a major market share in 2020 and the trend is expected to continue during the forecast period
  • The powder segment is likely to expand at a higher CAGR from 2020 to 2030, owing to higher demand for powder form, excellent free-flow properties for final formulation, easy transportation, cost effectiveness, and large number of bulk suppliers

Pharmaceutical Companies to Hold Major Market Share

  • Based on end user, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been categorized into pharmaceutical companies, biotechnology companies, and others
  • Pharmaceutical companies dominated the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in 2019, due to ongoing clinical trials by pharmaceutical companies and growing regulatory compliance

North America to Dominate Global Market

  • In terms of region, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America accounted for a major share of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in 2019, owing to rise in prevalence of osteoarthritis, larger cattle inventory source for APIs, presence of major companies for supplements, and ongoing clinical trials
  • According to the Osteoarthritis Action Alliance, an estimated 54.4 million adults in the U.S. are affected by some form of arthritis. Of these, osteoarthritis affects nearly 30.8 million adults.
  • The market in Asia Pacific is expected to expand at a higher CAGR from 2020 to 2030 due to increase in the geriatric population, higher production capacity of APIs with largest exporters in the world, low cost manufacturing, higher patient pool, and rise in awareness about different diseases & their treatments

Competition Landscape

  • The global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is fragmented in terms of number of players, with entry of several new players in the past few years. Key players in the global market include Summit Nutritionals International, Inc., Sioux Pharm, Inc., TSI Group Ltd., Shandong Runxin Biotechnology Co., Ltd., ZPD A/S, Pacific Rainbow International, Inc., SEIKAGAKU CORPORATION, Synutra, Inc., Bioiberica S.A.U., Newgen Biotech USA Inc., Nordmark Arrzneimittel GmbH & Co. KG, and Qingdao WanTuMing Biological Products Co., Ltd.
  • New products, technological development, strategic collaborations, and regulatory approval for different grade products are the major strategies adopted by major companies in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market

Market Segmentation

By Product

    • Chondroitin Sulfate
    • Hyaluronic Acid
      • Natural
      • Synthetic
    • Pancreatin

By Type

  • Pellets
  • Powder
  • Others

By End User

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Report Scope

The API market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of API market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global API market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the API market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted API market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the API capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of API by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global API market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major API market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of API market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the API industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

API market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to API market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of API market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new API market. These factors have benefited the growth of the global market for API. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for API. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of API are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Report Detail

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