Report ID: UCMIG35I2083
Report ID:
UCMIG35I2083 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size of the global small molecule API was worth USD 175.31 billion in 2021 and is expected to grow at a CAGR of 5.44% from 2022 to 2030. The demand for small molecule drugs and increased outsourcing trend are the major factors that are driving the market. The expiration of the patents of the leading molecules is further contributing to the growth by allowing new players to enter and increase the demand for raw materials, such as API, for cost-effective drug production. The COVID-19 pandemic has also played a significant role in the market's growth. Companies are diversifying their business geographically to avoid shortages caused by the pandemic. COVID-19 is also driving the investigation of small molecule products, like Molnupiravir, for treating the disease. Additionally, the repurposing of existing small molecule drugs is being studied for the treatment of SARS-CoV-2 infection.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Pharmaceuticals by segment aggregation, the contribution of the Pharmaceuticals in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35I2083