Active Pharmaceutical Ingredients (API) Market Remains Positive CAGR of 4.93% By 2023 | Global Analysis, Key Drivers, Trends, Opportunities And Restraints Influencing the Growth

Active Pharmaceutical Ingredients (API) Market Remains Positive CAGR of 4.93% By 2023 | Global Analysis, Key Drivers, Trends, Opportunities And Restraints Influencing the Growth

“Active Pharmaceutical Ingredients Market”
Global Active Pharmaceutical Ingredients Market Research Report By Type (Captive Manufacturing and Contract Manufacturing), By Types of (Synthetic and Biotech), By API Formulation (Generic API and Innovative API), By Application (Cardiovascular Disease,Oncology, Neurological Disorders, Orthopedic Disorders, Respiratory, Gastrointestinal Disorders, Urology and Other), By Molecule(Small Molecule and Large Molecule), By Region –Forecast to 2023.

Active Pharmaceutical Ingredients (API) Market – Overview

Active Pharmaceutical Ingredients or API, in short, are growing in an increscent manner due to the unmatched effects of active chemicals in the drugs and the portions that work on treating the condition. The bridging of foreign manufacturers and local distributors has led to extensive progress in the market over the past few years.

The launch of innovative and improved APIs in the market will boost the market’s progress to a great extent in the forthcoming period. Moreover, the constantly growing demand for biotech API has stimulated the firms to present better and new products to address the unmet requirements of the market.

The active pharmaceutical ingredient (API) market globally is expected to expand with a CAGR of 4.93 percent during the forecast period while earning revenues past the USD 215 billion mark by the year 2023.

The outlook for growth in the economy is likely to perceive a sweeping rise in the API industry owing to the growing occurrence of chronic disorders such as diabetes, cardiovascular diseases, obesity and other infectious diseases which will lead to the launch of numerous innovative drugs.

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The rising cases of chronic diseases are also one of the foremost reasons for hospitalization with a huge number of patients with these conditions who may need re-admission in hospitals owing to an infection that can cause other chronic diseases.

The expiration of patents of branded drugs has created a serious impression on drug manufacturers, as the companies can incur tremendous losses after expiration. Hence, the producers favor generic drugs over the branded ones. The generics are also expected to be the most rapidly growing type due to patent expirations of many blockbuster drugs.

However, the rapidly increasing scope for high-potency active pharmaceutical ingredients over the last decade has shifted the focus to the new biologics gold rush of recombinant proteins and monoclonal antibodies.

As a result of this, the chemical API market for western contract manufacturers, on the whole, has undergone a sharp decline till 2015. Many custom manufacturing organizations (CMOs) have shifted their emphasis to rescheduling plants or manufacturing of higher-value biologics.

Active Pharmaceutical Ingredients (API) Market – Key Players

Pfizer Inc.

Sanofi

Bayer AG

Hoffmann-La Roche AG

Merck & Co., Inc.

Abbott Laboratories

Boehringer Ingelheim GmbH

Novartis AG

Eli Lilly and Company

GlaxoSmithKline Plc (GSK)

Teva Pharmaceutical Industries Ltd.

Market Segmentation

The market is segmented on the basis of manufacturing process, type of synthesis, API formulation, application, and molecules.

By manufacturing process, the market is segmented into captive manufacturing and contract manufacturing. Captive manufacturing helps keep the profit within the company, saves money along with tax benefits which have pushed many pharmaceutical companies to follow captive type manufacturing, in turn, thrusting the market forward. Benefits associated with contract manufacturing are cost saving by the company outsourcing to other companies, obtaining high-quality products and fast speed of receiving finished products by the other company. These advantages also drive the companies to opt for contract manufacturing, thus leaving a positive impact on the market.

By type of synthesis, the market is segmented into synthetic and biotech. The market is segmented on the basis of formulation, which is generic API and innovative API. The generic formulation segment holds a lot of weight in the market due to their low cost compared to branded drugs.

By application, the market has been segmented into cardiovascular disease, oncology, neurological disorders, orthopedic disorders, respiratory, gastrointestinal disorders, urology, and others. Active ingredients are used to furnish direct effect in the diagnosis, cure, mitigation, treatment or prevention of disease or to affect the structure and function of the body, thus are very essential for healthcare domain. These properties are driving the active pharmaceutical market to experience phenomenal growth. The market is also segmented on the basis of molecule which includes small molecule and large molecule. 

Regional Analysis

The global active pharmaceutical ingredient market is segmented on the basis of North America, South America, Asia Pacific, Europe, and Africa.

Among all regions, the America region currently governs the substantial market share, and this is expected to continue during the foreseeable future. This is attributable to the vigorous popularity, and sizeable value of the small molecule segment in both Canada and the U.S. Additionally, the pharmaceutical organizations in the USA have developed quickly in comparison with other countries, thus the pharmaceutical industry is among one of the major and most exceptional ventures in the US nations.

The Europe and Asia Pacific regions are also projected to grow steadily in terms of revenue during the forecast period 2018-2023. In this, Europe accounts for the second largest market for active pharmaceutical ingredients trailed by the Asia Pacific region. The European government policy strongly supports the consumption of generic drugs, which is expected to increase the revenue of the generic drugs over the branded drugs in this region.

Within Asia Pacific region, the market growth is influenced by factors such as the amplified level of expense on equipment and infrastructure, expanding initiatives which are motivating investment in APIs from drug makers. Low working costs, contract manufacturing organizations services along with high investments in biological research also benefit the API market favorably.

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