High Potency API Contract Manufacturing Market Share to Witness Significant Revenue Growth
High Potency API Contract Manufacturing Industry The global high potency API contract manufacturing market size is expected to reach USD 14.87 billion by 2030, registering a CAGR of 10.98% over the forecast period, according to a new report by Grand View Research, Inc. The main drivers of this market are rising demand for oncology drugs, advancements in manufacturing technology, and a rise in capacity to meet the increasing demand. Also, a rise in target therapies to cure chronic diseases is going to accelerate industry growth. The COVID-19 pandemic boosted the demand for high potency APIs (HPAPIs). During the first half of the pandemic, the supply chain was disrupted, which reduced research-based activities. However, during the second half, the industry started to gain importance due to a rise in demand for vaccines to fight the coronavirus. This rise has also increased the demand for raw materials and product intermediates of API molecules. ...