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

The Business Research Company’s COVID-19 drug associated APIs market report forecasts the COVID-19 drug associated APIs market size to grow to $8.02 Billion by 2027, with a CAGR (compound annual growth rate) of almost 6%.

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COVID-19 Drug Associated APIs Market Size Forecast

The global COVID-19 drug associated APIs market is expected to grow from $5.99 billion in 2022 to $6.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The covid19 drug associated apis market is expected to grow from $8.02 billion in 2027 at a CAGR of 5.9%.

North America held the largest COVID-19 drug associated APIs market share, and Middle East was the fastest-growing region in 2022.

Key COVID-19 Drug Associated APIs Market Driver ­– Increase In Demand For Antivirals, Antimalarials, And Bronchodilators

Active pharmaceutical ingredients (APIs) are the biologically active component used in manufacturing pharmaceutical drugs. Remdesivir and Favipiravir are two common antiviral medications used currently for the treatment of COVID-19 patients. Remdesivir is a medication approved for emergency use in the USA and Japan for the treatment of COVID-19 patients. Remdesivir received emergency use authorization (EUA) from the FDA on May 1, 2020, based on its preliminary data showing a faster time to recovery in hospitalised patients with several diseases. Favipiravir, which is used to treat influenza in Japan, has also shown a positive effect on COVID patients. As COVID-19 is a respiratory ailment, the demand for bronchodilators spiked significantly. Therefore, the increasing demand for antivirals, antimalarials, and bronchodilators is projected to boost the demand for the COVID-19-associated drug APIs market over the forecast period.

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Key COVID-19 Drug Associated APIs Market Trend – Focusing On Strategies Such As Plant Capacity Or Production Capacity Expansion

Key players operating in the pharmaceutical industry that manufactures COVID-19 drug-associated APIs are focusing on strategies such as plant capacity or production capacity expansion to meet the increasing demand due to the rising number of coronavirus cases across the globe. For instance, in March 2020, Alembic Pharmaceuticals Ltd announced that the company is ramping up the production for the company’s production for azithromycin to 20 tonnes per month. Likewise, In April 2020, FUJIFILM Corporation announced the expansion of its manufacturing capacity and increase in the production of influenza antiviral Avigan Tablet (Favipiravir) by nearly 2.5 times by the end of July. Avigan is currently undergoing clinical trials testing its safety and efficacy for the treatment of COVID-19 patients.

COVID-19 Drug Associated APIs Market Segment

1) By Drug Class: Antimalarials, Bronchodilators, Antibiotics, Antivirals, Other Drug Class

2) By Synthesis Type: Synthetic, Biotech

3) By Business Mode: Captive API, Merchant API

COVID-19 Drug Associated APIs Market Major Players and Strategies

Major players in the COVID-19 drug associated APIs market are Dr. Reddy’s Laboratories, Lianyungang Guike Pharmaceutical, Alembic Pharmaceutical, Wockhardt Ltd., Sandoz Srl, Lupin Limited, Aurobindo Pharma Ltd., Shanghai Shyndec Pharmaceutical (Haimen) Co. Ltd., and Yatai Pharma.

In February 2020, Dr. Reddy Labs announced the acquisition of the branded generics business of Wockhardt for an amount of $242 million (INR 1,850 crore). The acquisition is expected to scale up the former company’s presence in home markets including India, Nepal, Sri Lanka, Bhutan, and the Maldives. The Wockhardt business consists of a product portfolio of 62 brands in multiple therapy fields such as dermatology, neurology, respiratory, VMS, pain, gastroenterology, and vaccine. Wockhardt Ltd. was founded in 1999 and is a global biotechnology and pharmaceutical company based in Mumbai, India.

The COVID-19 Drug Associated APIs Global Market Report 2023 covers regional data on COVID-19 drug associated APIs market size, COVID-19 drug associated APIs market trends and drivers, opportunities, strategies, and COVID-19 drug associated APIs market competitor 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.

COVID-19 drug-associated APIs refer to the active pharmaceutical components that are employed in the production of COVID-19 medications. Chemicals called “active pharmaceutical components” serve as the foundation for pharmaceutical drugs and medicines and are responsible for pharmacological activity in the human body.

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