Active Pharmaceutical Ingredients Market Research Report: Information By Manufacturing Process (Captive Manufacturing and Contract Manufacturing), Type of Synthesis (Synthetic and Biotech), By API Formulation (Generic API and Branded/Innovative API), Application (Cardiovascular Disease, Oncology, Neurological Disorders, Orthopedic Disorders, Respiratory, Gastrointestinal Disorders, Urology and others), Molecules (Large Molecule and Small Molecule) and Region - Forecast till 2028
Overview
The global active pharmaceutical ingredients market, during the forecast period 2015 to 2023, will register growth at a CAGR of 4.96%. The market for active pharmaceutical ingredients is set to reach USD 215,125.4 million by 2023. As per analysts, the global market is anticipated to witness growth owing to the factors such as the growing incidences of chronic diseases as well as upsurge in novel drug applications. However, the market will face challenges and restraints due to regulatory drawbacks and the rigorous supervisory strategies during the forecast period 2015 to 2023.
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Active Pharmaceutical Ingredients Market Segmental Analysis
The segmental scrutiny of the active pharmaceutical ingredient market is conducted on the basis of application, manufacturing process, type of synthesis, API formulation, molecule, and region. The manufacturing process based segmentation of the active pharmaceutical ingredient market comprises of captive manufacturing and contract manufacturing. The type of synthesis segment of the active pharmaceutical ingredient market consists of the synthetic segment and the biotech segment. The API formulation of the active pharmaceutical ingredient market comprises of generic API and innovative API. The application-based segmentation of the active pharmaceutical ingredient market includes oncology, neurological disorders, respiratory, urology, gastrointestinal disorders, cardiovascular disease, orthopedic disorders, and others. The molecule-based segmentation of the active pharmaceutical ingredient market comprises of small molecules and large molecules.
Active Pharmaceutical Ingredients Market Detailed Regional Analysis
The regional assessment of the active pharmaceutical ingredient market consists of the Americas, Europe, Asia Pacific, and other regions. The Americas regional active pharmaceutical ingredient market is projected to hold the primary share of the global market. The North American region leads in the Americas region due to the growing technological advancement in diagnostics connected with the mounting incidences of prolonged diseases and other neurological states. The active pharmaceutical ingredient market in Europe is anticipated to report for the subsequent market portion throughout the forecast period. Many CMOs existing in producing APIs and the escalating need to progress generic drugs are assumed to spur the regional market. The Asia Pacific region’s active pharmaceutical ingredient market is gauged to be the fastest developing region in the global market due to the prevalence of rapidly emerging diseases in the region.
Active Pharmaceutical Ingredients Market Competitive Analysis
The improvement in core industries performance on a global scale is estimated to fast track the development of the worldwide market in the upcoming period. The overall development prospects of the market players are estimated to improve steadily with the effect of the COVID-19 pandemic reducing. The entry of global players in key developing regional markets is predicted to have a favorable effect that will ripple into other areas of the market as well. The role of governmental bodies in facilitating the development of the market is estimated to be vital through the grant of special incentives to attract global titans to certain regions and contribute to the development of the market in the forecast period. Furthermore, the presence of better trade relations between several nations is estimated to offer more options for growth in the upcoming period. The optimism about COVID-19 related treatment methods such as the vaccines being rolled out in various regions is estimated to further improve the overall sentiment in the market.
The promising companies in the active pharmaceutical ingredient market are Pfizer Inc., F. Hoffmann-La Roche AG, Boehringer Ingelheim GmbH, Bayer AG, GlaxoSmithKline Plc (GSK), Sanofi, Eli Lilly and Company, Abbott Laboratories, Novartis AG, Merck & Co., Inc., and Teva Pharmaceutical Industries Ltd.
Industry Updates:
Feb 2021 Aurobindo Pharma is surveying to change its focus back to its origins of producing bulk drugs, particularly fermentation-based active pharmaceutical ingredients (APIs), for which Indian drug makers are almost completely reliant on China. The firm which is India-based plans to devote ₹3,000 crores over 30-32 months, and will produce four more fermentation-based bulk drugs that are not at present made in India. Covid-19 and the border tension with China indirectly have disrupted the stock of bulk drugs in the period from February-March 2020.
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