API (Active Pharmaceutical Ingredient) is a raw material used in the manufacturing of pharmaceuticals. The global API market is on a promising growth trajectory, with an estimated size of $22.24 billion in 2022. The compound annual growth rate (CAGR) is projected to be approximately 5.9% from 2023 to 2030.

Currently, China is the world's largest producer of raw pharmaceutical materials,followed by the United States and India. China and India dominate the market due to their strong manufacturing capabilities.

China occupies a leading position in the global supply chain of active pharmaceutical ingredients (APIs), with a sales market share of 90-95% in the global API market, largely due to the supply of intermediates. About 80% of the intermediates used in the production of raw pharmaceutical materials worldwide are manufactured in China. China is not only a major supplier of intermediates in developed markets such as the United States and Europe but also a significant supplier in the Indian intermediate market.

In Europe, Italy, Germany, and the United Kingdom have become key regions for the trade of raw pharmaceuticals due to the developed pharmaceutical and life sciences industries. Western Europe accounts for nearly 11% of global API manufacturers, the United States accounts for almost 6%, and Japan accounts for 5%. Globally, there are over 3000 API companies, with China holding 48% and India holding 19%. South Korea, as the third-largest raw pharmaceutical producer in Asia, follows China and India, and is also the fifth-largest raw pharmaceutical producer globally, representing 3% of raw pharmaceutical manufacturers.

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