Active Pharmaceutical Ingredient Market to reach USD 371.06 billion by 2032 at a CAGR of 5.37%
Progress in active pharmaceutical ingredient manufacturing, the expansion of biopharmaceuticals, and the aging of the global population are the API market’s key motorists. The market will be boosted by the rise in chronic diseases such as cancer and cardiovascular disease. The global geriatric population is growing rapidly. According to the UN, in 2022, the 65-and-older age group accounted for 771 million people, and by 2030 and 2050, it is expected to number 994 million and 1.6 billion, respectively.