REPORT OVERVIEW
The azilsartan medoxomil API market is expected to be worth USD 15 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 56 million by 2028 with a CAGR of 20.0 % during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Azilsartan medoxomil is an active pharmaceutical ingredient (API) used in the production of antihypertensive medications. It belongs to the class of angiotensin II receptor antagonists and works by blocking the binding of angiotensin II to its receptors, thereby reducing blood pressure. This drug is known for its high potency and long duration of action, making it an effective choice for the treatment of hypertension. Its use is widely recognized in the pharmaceutical industry for formulating medications that help manage high blood pressure in patients.
Globalization of the pharmaceutical market and the expanding access to healthcare in emerging economies contribute to the growing demand for azilsartan medoxomil APIs. All of these can be considered as the factors driving the azilsartan medoxomil API market share.
"COVID-19 Impact: Lockdowns and Travel Restrictions During Pandemic Decreased Market Growth"
COVID-19 was one of the biggest pandemics that affected the man-kind. The infectious coronavirus had an impact on various sectors, including the pharmaceutical industry and the supply chain of active pharmaceutical ingredients (APIs) like azilsartan medoxomil. The global disruptions caused by the pandemic, such as lockdowns, travel restrictions, and reduced manufacturing capabilities, have affected the production and availability of APIs.
Supply chains have experienced delays and shortages, leading to potential challenges in sourcing azilsartan medoxomil API for the production of antihypertensive medications. The increased demand for certain pharmaceutical products during the pandemic has further strained the supply chain. Therefore, the market experienced a downfall during the pandemic period.
LATEST TRENDS
"Improvements in Pharmacokinetics and Drug Delivery Systems to Fuel Market Growth"
In recent years, there have been several advancements and innovations in the field of azilsartan medoxomil APIs. Researchers and pharmaceutical companies have been focusing on improving the pharmacokinetics and therapeutic efficacy of azilsartan medoxomil. Novel drug delivery systems have been explored to enhance its bioavailability and increase patient compliance.
Additionally, efforts have been made to develop more stable formulations and overcome challenges such as low solubility. Nanoparticles, liposomes, and other nanotechnology-based approaches have been investigated to improve the delivery of azilsartan medoxomil. All of the above-mentioned factors are considered as the latest trends in the market.
SEGMENTATION
- By Type:
The market can be divided on the basis of type into the following segments:
0.99, and, others. The 0.99 segment is anticipated to dominate the market during the forecast period.
- By Application:
Classification based on application into the following segment:
20 mg tablets, 40 mg tablets, and, 80 mg tablets. The 20 mg tablets segment is predicted to dominate the market during the research period.
DRIVING FACTORS
"Growing Prevalence of Hypertension to Accelerate Market Growth"
Several key factors drive the demand for azilsartan medoxomil APIs in the pharmaceutical industry. Firstly, the growing prevalence of hypertension and related cardiovascular diseases worldwide has created a significant need for effective antihypertensive medications like azilsartan medoxomil. Additionally, the increasing awareness about the importance of blood pressure management and the rise in the aging population contribute to the demand.
Moreover, the favorable properties of azilsartan medoxomil, such as its high potency, long duration of action, and improved safety profile, make it a preferred choice for formulating antihypertensive medications. These factors, combined with advancements in drug delivery systems and innovative formulations, are driving the demand for azilsartan medoxomil APIs in the market.
"Competitive Landscape Within Pharmaceutical Industry to Propel Market Growth "
In addition to the factors mentioned earlier, there are other driving forces behind the demand for azilsartan medoxomil APIs. Regulatory guidelines and recommendations from healthcare authorities worldwide, emphasizing the use of angiotensin II receptor antagonists like azilsartan medoxomil as first-line treatments for hypertension, have significantly influenced its demand.
Along with this, the competitive landscape within the pharmaceutical industry plays a role, as manufacturers strive to develop and market new antihypertensive formulations containing azilsartan medoxomil. The patent expiry of competing drugs has also opened up opportunities for generic versions of azilsartan medoxomil, resulting in increased demand from pharmaceutical companies. These factors are having a positive impact on the azilsartan medoxomil API market growth.
RESTRAINING FACTOR
"Patent Protection Against this Drug to Decrease Market Growth"
While the demand for azilsartan medoxomil API exists, there are several restraining factors that can impact its market growth. Firstly, the patent protection of azilsartan medoxomil API limits the entry of generic manufacturers, reducing competition and potentially keeping prices high. Additionally, the complex synthesis process and specialized equipment required for manufacturing azilsartan medoxomil API can pose barriers to entry for new players in the market.
Regulatory requirements and compliance standards related to quality control and safety also add to the challenges. Moreover, fluctuations in raw material availability and prices, as well as the potential for adverse effects and contraindications, may influence the utilization and market acceptance of azilsartan medoxomil API.
Regional Insights
"Asia Pacific to Dominate Market Share in Upcoming Years"
Asia Pacific is one of the fastest developing regions in the amino APIs market. Countries like China and India play a significant role in this regard. Firstly, China and India have well-established pharmaceutical industries with a strong focus on API production. These countries have robust manufacturing capabilities, technological expertise, and cost advantages, making them major players in the global API market.
Additionally, the availability of skilled labor, favorable regulatory frameworks, and a vast network of suppliers contribute to the region's leadership. The Asia-Pacific region's dominance in azilsartan medoxomil APIs ensures a steady supply to meet the global demand for antihypertensive medications.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Takeda (Japan)
- Lupin (India)
- Acura Labs (India)
- Metrochem API (India)
- Jubilant Pharma (India)
- Zhejiang Hongyuan (China)
- Honour Lab (India)
- HEC Pharm (China)
- Enomark (India)
- CTX Life Sciences (India)
- Zhejiang Tianyu (China)
- Zhuhai Rundu (China)
- Valiant Co (India)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations
Frequently Asked Questions
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1. What value is the azilsartan medoxomil API market expected to touch by 2028?
The market size is expected to reach USD 56 million by 2028.
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2. What CAGR is the market expected to exhibit by 2028?
The market is expected to exhibit a CAGR of 20.0 % by 2028.
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Which are the driving factors of the market?
Globalization of the pharmaceutical market and the expanding access to healthcare in emerging economies contribute to the growing demand for azilsartan medoxomil APIs.
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Which is the leading region in the market?
Asia Pacific is the leading region in the market.
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Which are the key players or most dominating companies functioning in the market?
Takeda, Lupin, Acura Labs, Metrochem API, and, Jubilant Pharma are the top companies operating in the market.
