(PharmaNewsWire.Com, July 08, 2021 ) The growth in High Potency APIs Market is driven by factors such as increasing demand for oncology drugs, growing demand for antibody-drug conjugates, increasing focus of leading pharmaceutical companies on HPAPIs, advancements in HPAPI manufacturing technologies, and growing focus on precision medicine.
Expected Growth in Revenue:
The global High Potency APIs Market is expected to reach USD 26.84 Billion by 2023 from USD 17.72 Billion in 2018, at a CAGR 8.7%.
Global Key Players & Different Growth Strategies by Them:
Agreements, partnerships, collaborations, and alliances accounted for the largest share of the overall growth strategies followed by key players between 2015 and 2018. Some of the key players in the HPAPI market include Pfizer (US), Novartis (Switzerland), Merck (US), Teva (Israel), Mylan (US), Boehringer Ingelheim (Germany), Sanofi (France), F. Hoffmann-La Roche (Switzerland), AbbVie (US), Eli Lilly (US), Mylan (US), and Bristol-Myers Squibb (US).
Pfizer held the leading position in the High Potency APIs Market in 2017. The dominant position of the company can be attributed to its exhaustive product portfolio. The company has been operating in the APIs market for more than a decade and has a strong brand image, which gives it a competitive edge over other players.
To remain competitive and strengthen its market position, the company primarily focuses on adopting both organic and inorganic growth strategies such as acquisitions and expansions. In 2015, Pfizer acquired Anacor Pharmaceuticals (US), a leading biopharmaceutical company and Hospira (US) a global leader in biosimilars. Such acquisitions enabled the company to expand its product offerings and global market presence.
Novartis International AG held the second position in the High Potency APIs Market. The company has a strong brand recognition among end users and a wide global presence. In order to maintain its leading market position, the company invests a significant amount of its revenue in R&D activities. In 2016, the company invested 18.6% of its total revenue (USD 9.0 billion) on R&D. This significant investment enables the company to launch innovative and technologically advanced products in the market.
The company also focuses on inorganic growth strategies to strengthen its position in the market. For instance, in June 2016, Novartis entered into a licensing and collaboration agreement with Xencor (US), a biopharmaceutical company that develops engineered monoclonal antibodies. The purpose of this agreement was to develop bispecific antibodies for treating cancer. Such approaches help the company to strengthen its position in the global HPAPIs market.
North America to dominate the HPAPI market in 2018
In 2018, North America is expected to account for the largest share of the market followed by Europe. Factors such growing incidence of cancer, increasing investments in cancer research, technological advancements in HPAPI manufacturing, growing CMOs market, constructive government reforms like the Patient Protection and Affordable Care Act, growing focus of leading pharmaceutical companies in the HPAPIs segment, and increasing demand for antibody-drug conjugates (ADCs) are responsible for the large share of North America in the global High Potency APIs Market.
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