SEP 23 2020: The global Active Pharmaceutical Ingredient market size is expected to reach a value of USD 286.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Factors, such as increasing preference for outsourcing APIs and growing prevalence of various target diseases such as cancer and Cardiovascular Diseases (CVDs) are expected to drive the market growth.
A steady rise in consumer demand for APIs, especially in developing and under-developed countries, increases the adoption of these products. In addition, strategic collaborations play a key role in the adoption of these ingredients in various regions. For instance, in February 2019, Cipla Inc. partnered with Wealthy Therapeutics Private Limited to combine digital therapeutics and pharmacotherapy for better patient outcomes in cardiovascular diseases and diabetes.
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Private and public initiatives to manufacture active pharmaceutical ingredients within their countries, especially in developing countries such as India, is expected to drive the growth of the market. For instance, API production in India is promoted under the “Make in India” initiative.
Presence of prominent players and increasing government initiatives for the development of pharmaceuticals in various regions are also expected to boost the market growth. Increasing consumer awareness and demand for economical and effective treatment strategies, especially in Asia Pacific and Middle East and Africa, are driving the sales channels. In addition, high adoption and growing usage of online pharmacies are likely to drive the e-commerce sales of APIs.
The API market is competitive in nature and is becoming increasingly competitive. Consequently, manufacturers are required to enhance products in order to gain advantage over previously marketed products. For instance, in March 2019, Dr. Reddy’s Laboratories Ltd. launched XCEED-a B2B customer service portal. The platform was designed to manage the growing demand for generic active pharmaceutical ingredients by significantly increasing operational efficiency.
Further key findings from the study suggest:
• On the basis of type of synthesis, the synthetic segment dominated the active pharmaceutical ingredients market in 2019 owing to easy availability of raw materials and easier protocols in place for the synthesis of these molecules
• The biotech segment is estimated to register the highest CAGR owing to higher efficiency of these molecules and increasing demand for biopharmaceuticals
• Captive manufacturers held the largest share in 2019 due to easy availability of raw materials
• The merchant manufacturers segment is estimated to witness a lucrative CAGR over the forecast period
• The generic segment is estimated to register the highest CAGR over the forecast period. The segment is driven by factors such as lower cost and expiration of patents of branded drugs
• Asia Pacific is estimated to register a significant CAGR of 8.0% owing to the increasing number of pharmaceutical manufacturing plants in the region
• Some of the key players in the API market are Mylan N.V.; Teva Pharmaceutical Industries Ltd.; Boehringer Ingelheim International GmbH; AbbVie Inc.; Merck & Co., Inc.; Cipla Inc.; Albemarle Corporation; Dr. Reddy’s Laboratories Ltd.; Bristol-Myers Squibb Company; Aurobindo Pharma; and Sun Pharmaceutical Industries Ltd.
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Table of Contents
Chapter 1 Methodology And Scope
1.1 Market Segmentation
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Gvr’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Data Visualization
1.6 Validation & Publishing
1.7 Geographic Scope & Assumptions
1.8 Region-Wise Market Calculation
1.8.1 Region-Wise Market: Base Estimates
1.9 Market Cagr Calculation
1.9.1 Region Based Segment Share Calculation
Chapter 2 Executive Summary
2.1 API Market Outlook
2.2 API Market: – Segment Outlook
2.3 API Market: -Competitive Insights
2.4 Market Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.2 Penetration And Growth Prospect Mapping
Chapter 4 Market Dynamics
4.1 Market Driver Analysis
4.1.1 Growing Geriatric Population Base
4.1.2 Growing Prevalence Of Target Diseases Such As Hospital Acquired Infections, Genetic, Cardiovascular And Neurological Diseases
4.1.3 Increasing Preference For Targeted Therapy Approach In Cancer Treatment
4.1.4 Increasing Preference For Outsourcing APIs
4.2 Market Restraint Analysis
Continued………………
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