Active Pharmaceutical Ingredients Industry Overview
The active pharmaceutical ingredients market size is likely to touch USD 215,125.4 million at a 4.96% CAGR between 2017-2023, as per the latest Market Research Future’s active pharmaceutical ingredients market report. An API is a mixture of ingredients or a substance that is used while manufacturing a drug or pharmaceutical. It directly impacts diseases, and its pharmacological activity directly helps in the diagnosis, mitigation, cure, prevention, or treatment of a disease. These ingredients are purified animal or plant material, laboratory created, synthesized chemically, sterile intermediate, non-sterile inorganic mineral, fermented in a sterile environment, extracted from animal or plant, and biochemically created.
Numerous factors are adding to the global active pharmaceutical ingredients market growth. These factors, according to the recent MRFR report, include increasing prevalence of hospital-acquired infections and infectious diseases, increasing geriatric population, growing biopharmaceutical sector, and advancements in API manufacturing.
On the contrary, the availability of counterfeit drugs and unfavorable drug price control policies are factors that may limit the global active pharmaceutical ingredients industry growth over the forecast period.
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Active Pharmaceutical Ingredients Market Segmentation
The MRFR’s active pharmaceutical ingredients market research report provides an inclusive segmental analysis of the global active pharmaceutical ingredients market based on the molecule, type of synthesis, application, API formulation, and manufacturing process.
By type of synthesis, the active pharmaceutical ingredients market is segmented into synthetic and biotech segments. Of these, the synthetic segment will lead the market during the forecast period.
By the manufacturing process, the active pharmaceutical ingredients market is segmented into captive manufacturing and contract manufacturing. Of these, captive manufacturing will dominate the market during the forecast period.
By API formulation, the active pharmaceutical ingredients market is segmented into generic API and innovative API. Of these, the generic API segment will have a major share in the market during the forecast period.
By application, the active pharmaceutical ingredients market is segmented into gastrointestinal disorders, urology, respiratory, neurological disorders, orthopedic disorders, cardiovascular disease, oncology, and others. Of these, the oncology segment will have the largest share in the market over the forecast period for the rising prevalence of cancer worldwide.
Active Pharmaceutical Ingredients Market Regional Analysis
By region, the active pharmaceutical ingredients market report covers the recent trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will lead the market during the forecast period for technological advancements, high economic development, and rising incidence of cancer as well as other lifestyle-associated diseases.
The active pharmaceutical ingredients market in Europe is predicted to hold the second-largest share in the global active pharmaceutical ingredients market for the rising initiatives which support the creation of generic drugs. Moreover, favorable reimbursement policies, improving pricing, and huge manufacturing activities are also adding market growth.
The global active pharmaceutical ingredients market in the Asia Pacific region is predicted to develop at a quick pace during the forecast period. The availability of cheap labor and leading companies setting up active pharmaceutical ingredients’ plants in China as well as India are adding to the market growth.
The active pharmaceutical ingredients market in the MEA is predicted to have a small share during the forecast period.
Active Pharmaceutical Ingredients Market Key Players
Leading players profiled in the global active pharmaceutical ingredients (API) market report include Teva Pharmaceutical Industries Ltd, Novartis AG, Merck & Co., Inc., GlaxoSmithKline Plc (GSK), Boehringer Ingelheim GmbH, Abbott Laboratories, Sanofi, F. , Pfizer Inc., Eli Lilly and Company, Hoffmann-La Roche AG, and Bayer AG. Industry players have incorporated strategies such as mergers, acquisitions, product launches, and others to stay ahead in the competition.
Active Pharmaceutical Ingredients Industry News
Sanofi will soon set up a standalone company in France that will make active pharmaceutical ingredients (API).