The Global Active Pharmaceutical Ingredients Market is predicted to touch USD 215 billion at a 4.93% CAGR over the forecast period (2018-2023), states the latest Market Research Future (MRFR) report. Active pharmaceutical ingredient (API) is an active ingredient that is present in medicines. Drug components are made up of various components, of which active pharmaceutical ingredients is the primary ingredient, and the remaining are known as excipients. API is manufactured through different processes including recombinant DNA, fermentation process, chemical synthesis, isolation as well as recovery from natural sources, and a combination of such processes.
The global API market has witnessed a bevy of innovation and improvements in recent years which has created a positive tone for the development of the market. Besides, collaboration between foreign manufacturer and local distributors have opened new avenues for the growth of the market. The increasing burden of chronic diseases has induced the need for effective drugs for the treatment of such diseases. This has generated huge demand for APIs from the pharmaceutical industry. Moreover, various blockbuster drugs going off-patent has created a business opportunity for the growth of generics, which is expected to be among the fastest growing segment in APIs. Increased interest in personalized medicine and the growing number of contract research organizations have spurred drug development activities which are fostering the growth of the market. Other factors which are accelerating the growth of the market include ongoing R&D activities in the field of APIs and a growing emphasis on the reduction of cost of manufacturing. However, the recent years have witnessed a shift in the preference towards new biologics gold rush of recombinant proteins and monoclonal antibodies which might affect the market growth adversely.
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Key Players for Global Active Pharmaceutical Ingredients Market
Leading players profiled in the active pharmaceutical ingredients market report include Teva Pharmaceutical Industries Ltd, Merck & Co., Inc., Novartis AG, GlaxoSmithKline Plc (GSK), Abbott Laboratories, Boehringer Ingelheim GmbH, Sanofi, F. Hoffmann-La Roche AG, Pfizer Inc., Eli Lilly and Company, and Bayer AG. Key players are using various strategies to increase their market presence, such as collaborations, acquisitions, and introducing new ingredients.
August 2019– The State Council recently has ramped up measures for ensuring a stable supply of first-aid and basic drugs as professionals call for heightened efforts for encouraging active pharmaceutical ingredients’ production for addressing drug shortages.
April 2019 – Cambrex Corporation, a leading provider of small molecule active pharmaceutical ingredients, is expanding its production capacity of API manufacturing. An investment of USD 24 Mn has been invested for the same.
Segments for Global Active Pharmaceutical Ingredients Market
The MRFR report offers a wide segmental analysis of the active pharmaceutical ingredients market on the basis of the manufacturing process, synthesis, API formulation, application, and molecule.
Based on manufacturing, the active pharmaceutical ingredients market is segmented into contract manufacturing and captive manufacturing. Of these, the captive manufacturing segment will have the largest share in the market over the forecast period. This is owing to the availability of raw materials and intensive capitalization of leading companies in developing high-end manufacturing facilities.
Based on synthesis, the active pharmaceutical ingredients market is segmented into biotech and synthetic. Of these, the synthetic segment will dominate the market over the forecast period. This is owing to simple techniques of synthesis and easy availability of raw materials.
Based on API formulation, the active pharmaceutical ingredients market is segmented into innovative API and generic API. Of these, the innovative API segment will lead the market over the forecast period. This is owing to favorable government regulations and increased research and development initiatives for new drug development.
Based on application, the active pharmaceutical ingredients market is segmented into urology, gastrointestinal disorders, respiratory, orthopedic disorders, neurological disorders, oncology, and cardiovascular disease. Of these, the cardiovascular disease segment will have the maximum share in the market over the forecast period. It is owing to its increasing prevalence worldwide.
Based on molecule, the active pharmaceutical ingredients market is segmented into large molecule and small molecule.
Regional Analysis for Global Active Pharmaceutical Ingredients Market
Based on the region, the active pharmaceutical ingredients market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the Americas will lead the market over the forecast period. This is owing to the robust value that is sustained by the small molecule segment both in the US and Canada. Moreover, the pharmaceutical sector is the most exceptional and major ventures in the United States.
The active pharmaceutical ingredients market will have the second-largest share in the market over the forecast period.
The active pharmaceutical ingredients market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to growing expenses on infrastructure and equipment, and expanding initiatives that are motivating investments in active pharmaceutical ingredients from drug manufacturers for increasing the capacity of producing APIs.
The active pharmaceutical ingredients market in the Middle East and Africa is predicted to have moderate growth over the forecast period.
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