The study involved four major activities to estimate the current size of the global active pharmaceutical products market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market.
The global active pharmaceutical ingredient market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period.
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. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Major Growth Boosting Factors:
The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.
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“The captive API manufacturers segment estimated to account for the largest share in 2019.”
Based on type of manufacturer, the active pharmaceutical products market can be divided into captive API manufacturers and merchant API manufacturers. In 2019, the captive API manufacturers segment is expected to account for the largest share of the APIs market. This can be attributed to the fact that most big pharmaceutical companies possess their API manufacturing facilities and are vertically integrated across the pharmaceutical supply chain.
Key Questions addressed by the report:
# Where will all these developments take the industry in the mid to long term?
# What types of annual and multi-year partnerships are API companies exploring?
# Which are the key players in the market and how intense is the competition?
# Which are the recent contracts and agreements key players have signed?
# What are the recent trends affecting the API manufacturers?
“North America to dominate the market in 2019.”
In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include 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. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.
The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research.
# The revenue generated from the sale of active pharmaceutical ingredients by leading players has 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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Global Industry Leaders:
The global APIs market has several big players. The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK).
These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global active pharmaceutical products market.
