The Active Pharmaceutical Ingredient Market Size was valued at USD 239.45 billion in 2023 and is exp

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. The most rapid growth in the number of persons over age 60 will be in Africa, with a threefold increase in the number of persons over 60 years to 18.8 billion, and in Latin America, where, by 2050, there will be one-fifth of a billion such persons. Due to aging, there is a high risk of the onset of many diseases, including cardiovascular and neurologic ones, which also suggests that the rapidly growing global geriatric population will become a high-impact rendering driver of the API market.