As cited by the research report titled ‘Global High Potency Active Pharmaceutical Ingredients (HPAPI) Market Size study, by Product (Synthetic, Biotech), by Manufacturer (In-house, Outsourced), by Drug Type (Generic, Innovative), Therapeutic Application (Oncology, Hormonal, Glaucoma and Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global high potency active pharmaceutical ingredients (HPAPI) market was worth USD 21.08 billion in 2020 and is projected to grow with a healthy CAGR of 10% to accumulate USD 41.08 billion over 2021-2027.
 

Increasing demand for HPAPIs in the treatment of cancer patients, rising investments from private and government entities, along with growing focus on precision treatment are major factors driving the global high potency active pharmaceutical ingredients (HPAPI) market growth. In addition, technological developments in manufacturing of HPAPI is augmenting the market scope.
 

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With Covid-19 outbreak, pharmaceutical companies, backed by government, are focusing on developing vaccines and medications, which boosting the demand for HPAPIs. Besides, increasing cases of cancer and other diseases, in consort with federal efforts to upgrade the manufacturing of APIs domestically are propelling the market growth.
 

For instance, the government of India, in 2020, announced Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of APIS, in which financial incentives will be provided to qualified manufacturers of 41 known eligible products which covers 53 APIs for next 6 years.
 

For the record, active pharmaceutical ingredient is a raw substance or mixture of substances used in manufacturing a medicine. An active pharmaceutical ingredient (API) is classified as a high potency active pharmaceutical ingredients (HPAPI) if it has an occupational exposure limit of or below 10 micrograms per cubic meter of air. They can target the diseased cells more precisely and selectively as compared to other APIs, thus are very crucial in ailments like cancer.
 

Speaking of the restraints, issue in the management & storage of product, and regulations associated with APIs are likely to hinder the market development over the estimated timeline.
 

From geographical frame of reference, North America is currently leading the high potency active pharmaceutical ingredients market forecast and is poised to showcase lucrative growth trends over the estimated timeline, on account of strong product demand for oncology treatment, and higher per capita income.
 

Whereas, Asia Pacific market is expected to garner notable returns over the forecast duration, due to growing number of cancer patients, and increasing expenditure on healthcare facilities.
 

Prominent players influencing the global HPAPI industry trends are Merck & Co. Inc., Boehringer Ingelheim GmbH, Covidien plc, BASF SE, Hospira Inc., Sanofi S.A., Roche Diagnostics Ltd., Bristol-Myers Squibb Company, Eli Lilly and Company, and Novartis International AG.