The global synthetic small molecule API market size is expected to reach USD 217.96 billion by 2030 according to a new study by Polaris Market Research. The report “Synthetic Small Molecule API Market Share, Size, Trends, Industry Analysis Report, By Application (Cardiology, Oncology, CNS and Neurology, Orthopaedic, Endocrinology, Pulmonology, Gastroenterology, Nephrology, Ophthalmology, Others); By Manufacturer; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing demand for new small molecule-based drugs and pharmaceuticals worldwide has witnessed a steep increase in the production of synthetic APIs. Synthetic small molecules API provides versatility between dosage forms and has a smooth means of purification, making it more acceptable and increasing industry demand.
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The increasing dominance of synthetic drugs in the pharmaceutical industry drives the industry demand for raw materials. Furthermore, improving existing products is expected to open up new avenues for therapeutics.
The ease of production associated with small molecules, as well as their high effectiveness, has driven the growth of the industry. The increased use of breakthrough technologies and the arrival of specialized pharmaceuticals are expected to cause excellent shifts in the small-scale production sector.
The Covid-19 pandemic eases market growth by encouraging players to expand their businesses to avoid geographical shortages. Studies for repurposing existing synthetic molecule drugs to treat SARS-CoV-2 infection are ongoing, which is expected to drive the growth of the market.
To meet industry demand, the players frequently engage in merger and acquisition activities. For instance, Novasep and PharmaZell collaborated in April 2022 to establish a leading technologically driven CDMO for complex specialty API production.
Synthetic Small Molecule API Market Report Highlights
Polaris Market Research has segmented the Synthetic Small Molecule API market report based on type, functionality, end use and region:
Synthetic Small Molecule API, Manufacturer Outlook (Revenue - USD Billion, 2018 - 2030)
Synthetic Small Molecule API, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Synthetic Small Molecule API, Regional Outlook (Revenue - USD Billion, 2018 - 2030)