The Global Plant-Based API Market Size is predicted to witness a 7.49% CAGR during the forecast period for 2023-2031.
Active Pharmaceutical Ingredients (APIs) and excipients are the two most essential components in the manufacture of medication. The API is the chemical from which the medication is created. In contrast, the excipient is a component that isn't the drug but works as a medium that allows the body to absorb the medicine, including lactose or mineral oil, in a pill. The rising rate of chronic illnesses and the growing importance of generics are some of the vital drivers driving the growth of the Indian APIs industry.
Advances in active pharmaceutical ingredient (API) manufacture and the growth of the biotech sector are driving the market growth. The aging population positively impacts the development of several chronic and acute ailments that necessitate more advanced pharmaceuticals to mitigate their effects. This is why the global Active Pharmaceutical Ingredients (API) Market has been growing. COVID-19 has also had a major effect on the Active Pharmaceutical Ingredients (API) industry's growth.
Pharmaceutical companies have become the most significant industry in the globe during the pandemic due to the widespread use of various drugs to treat COVID-19 patients' symptoms and various medical conditions, including high fever, cough, and cold.
- In 2021-The University of Bristol identified a way for generating a major component of the malaria medicine artemisinin using genetically modified yeast. This procedure is more environmentally friendly and cost-effective than traditional medicine-making methods, which entail extracting it from the artemisia plant.
- In 2020-Amyris, a biotechnology company based in California stated that it had successfully manufactured a plant-based version of the anti-malarial medicine artemisinin. The medicine was created using a proprietary yeast strain and subsequently licensed to pharmaceutical companies for further development and commercialization.
Some Of The Plant Based API Market Players:
- Roquette Frères SA
- EVONIK Industries
- AG, Cargill, Inc
- Kothari Phytochemicals & Industries Ltd
- Medi pure Pharmaceuticals Inc.
- Centro flora Group
- Arborist, LLCs, BASF S
- Novartis AG
- Sanofi SA
- GlaxoSmithKline, plc,
- Hoffmann-La Roche AG
The Plant-Based API market is segmented based on product and application. Based on the product, the Plant-Based API market is segmented as alkaloids, anthocyanins, flavonoids, phenolic acids, terpenoids, lignans, and stilbenes. By application, the market is segmented into pharmaceuticals, nutraceuticals, herbal-based industries, and others[D1].
Based On Product, The Flavonoids Segment Is A Major Contributor In The Plant Based API Market
The flavonoids category will hold a major share of the global Plant Based API market in 2022. Because of its high amount of antioxidants and good anti-inflammatory properties, the flavonoid market has remained stable in recent years. It is one of the best on the market. Plant flavonoids have potential medicinal uses, which has led to their increased use in the pharmaceutical and nutraceutical businesses. Consumer demand for nutraceuticals is consequently driving the worldwide flavonoid market. Furthermore, the growing demand for convenience foods has expanded the usage of flavonoids in functional foods.
Herbal Based Industries Segment Witnessed Growth At A Rapid Rate
The herbal-based industries segment is projected to grow rapidly in the global Plant Based API market. Herbal treatments are used as alternative medicines in herbal therapy. They treat or prevent ailments, relieve symptoms, increase energy, relax, or lose weight. Herbs, unlike medicines, are not subjected to rigorous testing and regulation. Herbal medications are mostly used to treat chronic diseases and promote health. Still, their popularity is growing despite ineffective modern medicine for serious illnesses such as advanced cancer or new infectious diseases. This increased demand for herbal medication would broaden the worldwide market and open doors for other sellers to meet comparable demands. ,
The North America Plant Based API Market Holds A Significant Regional Revenue Share
The North America Plant Based API market is expected to register the highest market share in revenue soon. Substantial market participants, significant healthcare spending, and early product availability influence the market in North America. Furthermore, the U.S.'s vast patient population and rising supply of active pharmaceutical ingredients (API) fuel the industry there. The U.S. administration supports the creation of plant-based APIs by sponsoring and awarding research grants. In a similar vein, Canada is funding the creation of plant-based APIs. The nation is concentrating on creating new technologies to extract plant-based APIs effectively. The Canadian government is awarding funds to scientists and beginning to encourage the development of the market for plant-based APIs.
In addition, Asia Pacific is projected to grow at a rapid rate. One of the top nations for the manufacture of herbal medicines is China. Currently, China is concentrating on creating plant-based APIs for the pharmaceutical sector. The market in the region is boosted by favorable government initiatives, changing lifestyles that lead to the emergence of diseases, an increase in R&d expenditures, and technological innovations in drug production processes.
Plant Based API Market Report Scope:
Growth rate CAGR
CAGR of 7.49% from 2023 to 2031
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031
2019 to 2022
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Type And Application
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia
Roquette Frères SA, EVONIK Industries, AG, Cargill, Inc., Kothari Phytochemicals & Industries Ltd, Medipure Pharmaceuticals Inc., Centroflora Group, Arboris, LLCs, BASF SE, Novartis AG, Sanofi SA, GlaxoSmithKline, plc, F. Hoffmann-La Roche AG
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