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The significance of active pharmaceutical ingredient manufacturers
The significance of active pharmaceutical ingredient manufacturers in the pharmaceutical industry is mainly reflected in the following aspects:
Key components determine drug efficacy: Active pharmaceutical ingredients (APIs) are key components in the drug production process that determine the therapeutic effect of the drug. They are crucial for pharmaceutical companies to produce various drugs ranging from over-the-counter products to complex biologics.
An important link in the industry chain: In the pharmaceutical industry chain, API manufacturers are located upstream and rely on upstream raw materials such as basic chemical industries and agriculture, forestry, animal husbandry, and fisheries. The downstream industry of API is mainly in the field of chemical preparations. With the aging population and the development of modern society, the demand for chemical drug preparations is constantly increasing, which provides strong support for the API market.
Market growth trend: The global market for highly efficient active pharmaceutical ingredients (HPAPI) has continued to grow in the past few years, with a global market size of 197.997 billion yuan in 2022 and expected to reach 313.096 billion yuan by 2028, with a compound annual growth rate of 7.94%.
Outsourcing trend: With the advancement of production technology, HPAPI manufacturing outsourcing has become an increasingly growing trend. Large pharmaceutical companies tend to outsource non core manufacturing tasks to focus on core activities such as drug discovery and product release, while reducing costs and risks. For small and medium-sized companies, outsourcing provides a way to acquire professional knowledge.
Industry standards and regulations: In the seventh guideline of the ICH International Coordinating Committee, there is a precise definition of active pharmaceutical ingredients. Any substance or mixture that serves as the main active ingredient in the production of pharmaceutical products has pharmacological effects in the process of preventing, diagnosing, treating, relieving, or curing diseases.