The global active pharmaceutical ingredient market size is expected to reach a value of USD 286.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Factors, such as increasing preference for outsourcing APIs and growing prevalence of various target diseases such as cancer and Cardiovascular Diseases (CVDs) are expected to drive the market growth.
A steady rise in consumer demand
for APIs, especially in developing and under-developed countries, increases the
adoption of these products. In addition, strategic collaborations play a key
role in the adoption of these ingredients in various regions. For instance, in
February 2019, Cipla Inc. partnered with Wellthy Therapeutics Private Limited
to combine digital therapeutics and pharmacotherapy for better patient outcomes
in cardiovascular diseases and diabetes.
Private and public initiatives to
manufacture active pharmaceutical ingredients within their countries,
especially in developing countries such as India, is expected to drive the
growth of the market. For instance, API production in India is promoted under
the “Make in India” initiative.
Presence of prominent players and
increasing government initiatives for the development of pharmaceuticals in
various regions are also expected to boost the market growth. Increasing
consumer awareness and demand for economical and effective treatment
strategies, especially in Asia Pacific and Middle East and Africa, are driving
the sales channels. In addition, high adoption and growing usage of online
pharmacies are likely to drive the e-commerce sales of APIs.
The API market is competitive in nature
and is becoming increasingly competitive. Consequently, manufacturers are
required to enhance products in order to gain advantage over previously
marketed products. For instance, in March 2019, Dr. Reddy’s Laboratories Ltd.
launched XCEED-a B2B customer service portal. The platform was designed to
manage the growing demand for generic active pharmaceutical ingredients by
significantly increasing operational efficiency.
For Full Research Report On Active Pharmaceutical Ingredient Market Visit Here:
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Further key
findings from the study suggest:
- On the basis of type of
synthesis, the synthetic segment dominated the active pharmaceutical
ingredients market in 2019 owing to easy availability of raw materials and
easier protocols in place for the synthesis of these molecules
- The biotech segment is estimated
to register the highest CAGR owing to higher efficiency of these molecules
and increasing demand for biopharmaceuticals
- Captive manufacturers held
the largest share in 2019 due to easy availability of raw materials
- The merchant manufacturers
segment is estimated to witness a lucrative CAGR over the forecast period
- The generic segment is
estimated to register the highest CAGR over the forecast period. The
segment is driven by factors such as lower cost and expiration of patents
of branded drugs
- Asia Pacific is estimated to
register a significant CAGR of 8.0% owing to the increasing number of
pharmaceutical manufacturing plants in the region
- Some of the key players in
the API market are Mylan N.V.; Teva Pharmaceutical Industries Ltd.;
Boehringer Ingelheim International GmbH; AbbVie Inc.; Merck & Co.,
Inc.; Cipla Inc.; Albemarle Corporation; Dr. Reddy’s Laboratories Ltd.;
Bristol-Myers Squibb Company; Aurobindo Pharma; and Sun Pharmaceutical
Industries Ltd.
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https://www.grandviewresearch.com/industry-analysis/active-pharmaceutical-ingredients-market/request/rs1
Grand View Research has segmented
the global active pharmaceutical ingredients market on the basis of type of
synthesis, type of manufacturer, type, application, and region:
API Type of
Synthesis Outlook (Revenue, USD Billion, 2015 - 2027)
- Biotech
- Monoclonal antibodies
- Recombinant proteins
- Vaccines
- Synthetic
API Type of
Manufacturer Outlook (Revenue, USD Billion, 2015 - 2027)
- Captive APIs
- Merchant APIs
API Type Outlook
(Revenue, USD Billion, 2015 - 2027)
- Generic APIs
- Innovative APIs
API Application
Outlook (Revenue, USD Billion, 2015 - 2027)
- Cardiology
- Generic
- Innovative
- Oncology
- Generic
- Innovative
- CNS & Neurology
- Generic
- Innovative
- Orthopedic
- Generic
- Innovative
- Endocrinology
- Generic
- Innovative
- Pulmonology
- Generic
- Innovative
- Gastroenterology
- Generic
- Innovative
- Nephrology
- Generic
- Innovative
- Ophthalmology
- Generic
- Innovative
- Others
API Regional
Outlook (Revenue, USD Billion, 2015 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Mexico
- Brazil
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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