Global Merchant API Market to Reach $90.97 Billion by 2023, Fueled by Rising Diabetes Incidence and Growing Outsourcing Trend - ResearchAndMarkets.com
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Thursday, November 9, 2023
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The global merchant API market is on track to achieve a market value of US$90.97 billion by 2023, with a notable Compound Annual Growth Rate (CAGR) of 6.97% over the forecast period.
Key Points:
- The global merchant API market is on track to achieve a market value of US$90.97 billion by 2023, with a notable Compound Annual Growth Rate (CAGR) of 6.97% over the forecast period.
- Pharmaceutical companies are increasingly outsourcing manufacturing to focus on core competencies like research and development (R&D) and marketing, contributing to the growth of the merchant API market.
- The global merchant API market is segmented as follows:
Molecular Type: This segment is divided into Small Molecules and Large Molecules. - Small molecules currently hold the largest market share due to the growing demand for small-molecule drugs and the outsourcing trend.