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.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "COVID-19 Drug Associated APIs Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151650/?utm_source=GNW
, Shanghai Shyndec Pharmaceutical (Haimen) Co Ltd, and Yatai Pharma.
The global COVID-19 drug associated apis market is expected to grow from $4.73 billion in 2020 to $5.09 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.66 billion in 2025 at a CAGR of 7%.
The COVID-19 drug-associated APIs market consists of sales of active pharmaceutical ingredients used in the manufacturing of COVID-19 drugs.The active pharmaceutical ingredients are chemicals which are responsible for pharmacological activity in the human body and are used as a base in pharmaceutical drug or medicine.
The APIs used for the preparation of COVID-19 drugs and include Azithromycin, Fentanyl, Albuterol, Cisatracurium and others.
The COVID-19 drug-associated APIs market covered in this report is segmented by drug class into antimalarials, bronchodilators, antibiotics, antivirals, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The disruptions caused by the COVID-19 outbreak in the supply chain of medical products limited the growth of the COVID-19 drug-associated APIs market in the past few months.The source for APIs plays a crucial part in the strategic plan to combat the COVID-19 pandemic.
The majority of APIs for generic drug manufacturing across the globe are sourced from India, with nearly 30% generic APIs used in the USA.The restrictions imposed on the export of pharma products owing to COVID-19 supply chain disruptions restricted the market growth.
For instance, India imposed an export ban on 26 pharma products and medical devices in March 2020.The ban was imposed attributing to the supply chain disruptions on API and other bulk drugs due to restrictive measures such as lockdown and closure of factories in many countries across the globe to ensure that the disease spread is contained.
Thus, shortages caused by the disruptions in supply chains and restrictions imposed on the export of pharma products impacted the growth of the COVID-19 drug-associated APIs market over the last few months.
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 and 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.
High demand for some antiretrovirals, antimalarials, sedatives, bronchodilators, and other respiratory drugs drives the demand for the active pharmaceutical ingredients (APIs) used in the production of COVID-19 drugs.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 gained emergency use authorization (EUA) from the FDA on May 1, 2020, based on its preliminary data showing a faster time to recovery in hospitalized patients with several diseases.Favipiravir, which 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 COVID-19 associated drug APIs market over the forecast period.
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 tons 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.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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