The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s COVID-19 Drug Associated APIs Global Market Report 2023, the COVID-19 drug associated APIs market is expected to show significant growth in the forecast period.

The global COVID-19 drug-associated APIs market has experienced substantial growth, escalating from $5.99 billion in 2022 to $6.37 billion in 2023, reflecting a notable compound annual growth rate (CAGR) of 6.3%. Anticipated to reach $8.02 billion in 2027 with a CAGR of 5.9%, the market’s dynamics are shaped by the high demand for specific drug classes and the strategic responses of major players to the evolving needs of the pandemic.

1. Driving Forces: Antiretrovirals, Antimalarials, and Respiratory Drugs

• The surge in demand for active pharmaceutical ingredients (APIs) is propelled by the heightened need for antiretrovirals, antimalarials, sedatives, bronchodilators, and other respiratory drugs.
• APIs, the biologically active components used in drug manufacturing, play a crucial role in the production of COVID-19 medications.
• Notable antivirals like Remdesivir and Favipiravir, approved for emergency use, have contributed significantly to the increased demand for APIs.
• The respiratory nature of COVID-19 has led to a substantial demand spike for bronchodilators, further fueling the demand for COVID-19 drug-associated APIs.

2. Key Medications: Remdesivir and Favipiravir

• Remdesivir, authorized for emergency use in the USA and Japan, demonstrated a faster time to recovery in hospitalized COVID-19 patients.
• Favipiravir, initially used to treat influenza in Japan, has displayed positive effects on COVID-19 patients.
• The approval and utilization of these antiviral medications have played a vital role in shaping the API market landscape amid the ongoing pandemic.

3. Market Players: Responding Strategically to Demand

• Major players in the COVID-19 drug-associated APIs market, including Dr. Reddy’s Laboratories, Lupin Limited, and Aurobindo Pharma Ltd., are actively responding to the escalating demand.
• Strategies such as plant capacity expansion have been employed to meet the increasing demand, reflecting the industry’s commitment to addressing the global health crisis.
• Alembic Pharmaceuticals, for instance, ramped up the production of azithromycin to 20 tonnes per month in March 2020 to meet the growing requirements.
• FUJIFILM Corporation expanded its manufacturing capacity to increase the production of Favipiravir, undergoing clinical trials for treating COVID-19 patients.

4. Market Segmentation: Diverse Drug Classes and Synthesis Types

• The COVID-19 drug-associated APIs market is strategically segmented based on drug class, synthesis type, and business mode.
• By Drug Class:
  • Antimalarials
  • Bronchodilators
  • Antibiotics
  • Antivirals
  • Other Drug Classes
• By Synthesis Type:
  • Synthetic
  • Biotech
• By Business Mode:
  • Captive API
  • Merchant API

5. Regional Dynamics: North America Leads, Middle East Emerges

• In 2022, North America emerged as the largest region in the COVID-19 drug-associated APIs market, reflecting the region’s significant contribution.
• Looking ahead, the Middle East is expected to be the fastest-growing region during the forecast period, showcasing the global nature of the pharmaceutical response to the pandemic.

View More On The COVID-19 Drug Associated APIs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/covid19-drug-associated-api-global-market-report

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The COVID-19 Drug Associated APIs Global Market Report 2023  provides an in-depth analysis on the COVID-19 drug associated APIs market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the COVID-19 drug associated APIs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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