Small Molecule API Market size is forecast to reach $221.6 billion by 2026, growing at a CAGR of 7.7% during the forecast period 2021-2026. A small molecule active pharmaceutical ingredient (API) is an organic compound with a molecular weight of less than 1 nm that aids in the regulation of biological processes. It is design to deliver various macromolecules with strong therapeutic effect with a minimal dosage, sometimes below 10 mgs and often into micrograms.
Small molecules are given orally and observed easily by the body. Small molecules consist of amino acids, monosaccharides and other components. Rising prevalence of chronic diseases such as diabetes, cancer, and heart diseases and cardiovascular diseases coupled with growing geriatric populations are the major factors driving the growth of the market. Increasing research & development activities and enhancing healthcare infrastructure is set to further enhance the overall market development of the Small Molecule API Market for the period 2021-2026.
Small Molecule API Market Segment Analysis – By Type
Synthetic/Chemical held the largest share in the Small Molecule API Market in 2020 and is estimated to grow at a CAGR 8.4% during the forecast period 2021-2026. Synthetic/chemical small molecule API require low cost of production owing to usage of low cost of raw materials for the production of synthetic active pharmaceutical ingredient. Synthetic small molecule API consist of many macro-molecules and monosaccharides. Synthetic small molecule drugs are important and highly effective than other drug. Synthetic/Chemical is estimated to register the higher CAGR over the period 2021-2026.
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Small Molecule API Market Segment Analysis – By Application
Cardiology held the largest share in the Small Molecule API Market in 2020 and is estimated to grow at a CAGR 9.2% during the forecast period 2021-2026. CVD drugs are mostly used by the people owing to rising number of patient suffering from various cardiovascular diseases and chronic diseases such as diabetes, cardiovascular diseases, cancer, obesity, osteoporosis, and pulmonary diseases. According to World Health Organization (WHO), cardiovascular diseases are leading cause of death across the globe. Cardiology is estimated to register the higher CAGR over the period 2021-2026.
Small Molecule API Market Segment Analysis – By Geography
North America dominated the Small Molecule API Market with a major share of 41.5% in 2020. This is attributed to riding number of cases of chronic diseases in this region and increasing approval of new small molecules in this region. According to FDA, the Center for Drug Evaluation and Research (CDER) approved 48 new drugs (38 New Chemical Entities and 10 Biologics) in 2019. Growing research and development in API is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the development of health infrastructures and increasing awareness of health care. Increasing awareness of early diagnosis is also increasing the growth of the market in this region.
Small Molecule API Market Drivers
Increasing Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases is increasing the growth of the Small Molecule API Market. This is attributed to the development of the technologically advanced devices with extended longevity. Some of the major factor of cardiovascular disease includes unhealthy diet, physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age. Thus, increasing the growth of the Small Molecule API Market during the forecast period 2021-2026.
Technological Advancements
Technological advancements is increasing the growth of the Small Molecule API Market. Technological advancements has enabled the manufacturers to deliver modern fermentation processes to deliver safe and effective next-generation small-molecule APIs. Increasing advancements in Small Molecule API has provided an opportunity to manufacturer to develop personalized medicine. Thus, increasing the growth of the Small Molecule API Market during the forecast period 2021-2026.
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Small Molecule API Market Challenges
Lack of Skilled and Trained Healthcare Professionals
Some of the factors that are set to impede the growth of the Small Molecule API Market are lack of skilled and trained healthcare professionals. High cost of Small Molecule API, shortage of pathologists, lack of compensation policy, and high initial investment is also set to hinder the growth of the market.
Small Molecule API Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Small Molecule API Market. In 2020, the Small Molecule API Market share is consolidated by the top ten players present in the market. The Small Molecule API Market, top 10 companies are Johnson & Johnson, Novartis AG, Sun Pharmaceuticals, Merck & Co, Inc., Aurobindo Pharma, Allergan, Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Sanofi S.A. and AstraZeneca
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