Major Growth Boosting Factors:

Market growth is driven mainly by factors such as rising drug R&D, the increasing incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals. On the other hand, unfavorable drug price control policies across various countries and high manufacturing costs are expected to restrain the growth of active pharmaceutical ingredient market.

Projected Revenue Surge:

The global active pharmaceutical ingredient market size is projected to reach USD 248.3 billion by 2025 from USD 187.3 billion in 2020, at a CAGR of 5.8% during the forecast period.

Overview:

This study involved four major activities in estimating the current size of the active pharmaceutical ingredient market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the active pharmaceutical ingredients market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and market have been identified through extensive secondary research.
# The revenues generated from the active pharmaceutical ingredients business of leading players have been determined through primary and secondary research.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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Based on type, the active pharmaceutical ingredient market is segmented into innovative and generic APIs. The innovative APIs segment accounted for the largest share of the global active pharmaceutical ingredients market in 2019. Increased FDA approvals for new molecular entities, high price of innovative APIs as compared to the generic drugs, increased focus on R&D by the innovator API companies are the factors contributing towards the growth of the innovative APIs segment.

On the basis of application, the active pharmaceutical ingredient market is segmented into communicable diseases, oncology, cardiovascular diseases, diabetes, pain management, chronic respiratory diseases, and other therapeutic application. neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. In 2019, the oncology segment is expected to register the highest CAGR during the forecast period. Growth in this market segment is driven by the increasing demand for highly potent APIs (HPAPIs) for the treatment of cancer.

Geographical Growth Scenario:

The global active pharmaceutical ingredient market is segmented into North America, Europe, Asia, Latin America, and Rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and the Asia. The large share of North America in the global market is attributed to the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. However, the market in the Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to the low manufacturing costs, growth in the increase in disposable income, the high prevalence of lifestyle- and age-related diseases, and government efforts to reform healthcare industry.

Global Key Players:

Key players in the active pharmaceutical ingredients market include Pfizer Inc. (US), Novartis International AG (Switzerland), Merck & Co. (US), Teva Pharmaceutical Industries Ltd. (Israel), Mylan N.V. (US), Boehringer Ingelheim (Germany), F. Hoffmann-La Roche AG (Switzerland), Sanofi (France), AbbVie (US), Eli Lilly and Company (US), AstraZeneca (UK), Bristol-Myers Squibb (US), and GlaxoSmithKline plc (UK).

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