Active Pharmaceutical Ingredients Market Overview
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.
Various factors are propelling the active pharmaceutical ingredients market growth. Some of these factors according to the Market Research Future report, include growing incidences of chronic diseases, increasing importance of generics, rising uptake of biopharmaceuticals, advancements in active pharmaceutical ingredients manufacturing, and increasing geriatric population. Additional factors pushing market growth include growing biopharmaceutical sector, rising incidences of orthopedic and cardiovascular diseases and cancer, unhealthy and sedentary lifestyle, and burgeoning demand for low-cost medicines.
On the contrary, rising penetration of counterfeit drugs and unfavorable drug cost control policies are factors that may restrict the active pharmaceutical ingredients market growth over the forecast period.
Market Segmentation
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
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.
Key Players
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.
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