ReportCrux Market Research has published a new report titled “Active Pharmaceutical Ingredients Market by API Type (Chemical API, and Biological API); by Drug Type (Innovative Drugs, Generic Prescription, and Over-the-Counter (OTC) Drugs); by Manufacturer (Captive (In-House) Manufacturer, and Merchant (Contract) Manufacturer); by Application (Anti-Diabetic Drugs, Non-Steroidal Anti-Inflammatory Drugs, Cardiovascular Drugs, Musculoskeletal Drugs, Neurology Drugs, Oncology Drugs, and Others); and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.
Active Pharmaceutical Ingredients Market Size
Active Pharmaceutical Ingredients Market is estimated to grow from USD 173.7 Billion in 2019 to USD 285.3 Billion by 2027, at a CAGR of 6.4% during 2020-2027
Market Overview
Healthcare investment has increased over time with improvements in the healthcare system. This increasing focus on spending on health care positively is influencing the active pharmaceutical ingredients market. The high rate of generic drug adoption in both developed and emerging economies is driving market development.
Another positive effect comes from the growing demand for specialty drugs that is projected to boost pharmaceutical sector spending. Backed by factors such consistent pricing, availability of sufficient production units, and higher purchasing capacity, developed nations are projected to show faster growth in purchasing relative to emerging economies.
Moreover, outsourcing of R&D activities has emerged as a major industry phenomenon because of reduced production costs and improved value chain operational performance. To maintain a balanced product range, market participants depend on the possession of both branded and unbranded generic drugs.
Growing prevalence of heart disease is also serving as a catalyst of growth for the overall market. Epidemiological studies have shown how trends in behaviors such as dietary abnormalities and smoking that may lead to obesity are correlated with increased risk of disease. Rising prevalence of obesity is thus expected to fuel demand for APIs. APIs target cancer cells effectively and thereby reduce drug access to healthy tissues.
The patent expirations of blockbuster drugs have given rise to generic copies wherein manufacturers have to bear the cost. After a patent expires, R&D advances made by the company will no longer be beneficial to the customer. As a result, pharma companies gauge profit from outsourcing the production of APIs because it eliminates the need for labor and the construction of expensive production units. Strategic outsourcing has enabled companies to focus on competencies, thus contributing to improved profitability.
Segmentation Analysis
By API Type
Based on the API type, the global market for active pharmaceutical ingredients is segmented into biological, and chemical API. From this, the biological API segment is likely to grow at high CAGR in the forecast period. The acceptance of branded generic drugs is likely to be high in developing economies of China and India, and generic drugs accounted for major share of the overall value-selling drugs in these fast-growing nations in 2018.
By Drug Type
The generic prescriptions segment held almost 70% share of the market in 2019
On the basis of drug type, the market is categorized into innovative drugs, generic prescription, and over-the-counter (OTC) drugs. The generic prescriptions segment held almost 70% share of the market in 2019.It is anticipated that growing use of specialty medicines will increase pharmaceutical spending worldwide with faster growth in affluent, developed nations relative to their developing counterparts. This is primarily due to the former having sufficient manufacturing units, higher purchasing capacity, and greater focus on straightforward pricing by assessing the population's measuring impact.
By Manufacturer
The captive segment held almost 57% share of the market in 2019
On the basis of manufacturer, the market is categorized into captive (in-house) manufacturer, and merchant (contract) manufacturer. The captive segment held almost 57% share of the market in 2019 due to the easy availability of raw materials and the intensive capitalisation of key players in high-end production facilities development. It is projected that the merchant API is the fastest growing segment in the forecast period. Growth in the segment is driven by factors such as high in-house production costs of these molecules and increased demand for biopharmaceuticals.
By Application
cardiovascular drugs segment held major share of almost 26% in 2019
Based on application, the market is categorized into anti-diabetic drugs, non-steroidal anti-inflammatory drugs, cardiovascular drugs, musculoskeletal drugs, neurology drugs, oncology drugs, and others. The cardiovascular drugs segment held major share of almost 26% in 2019 since the prevalence of target diseases is growing globally. According to the World Health Organization (WHO), cardiovascular diseases result in about 18 million deaths per year worldwide, 85% of which are caused by strokes and heart attacks.
By Region
Asia Pacific held almost 24% share of the overall market
Based on regions, the market is divided into Latin America, North America, Middle East & Africa, Asia Pacific, and Europe. Asia Pacific held almost 24% share of the overall market. As the region emerges as the global manufacturing hub, it is expected the application will experience widespread adoption in the region during the forecast period. The market in North America is likely to show consistent growth thanks to the region's strong economic growth coupled with technical advances. Increasing prevalence of cancer and other lifestyle-associated diseases is also driving key players to invest in R&D activities and thereby fueling market growth.
Segments of Market:
The global market for the active pharmaceutical ingredients is segmented into API type, manufacturer, drug type, application and region.
By API Type
- Biological
- Chemical
By Drug Type
- Innovative drugs
- Generic prescription
- Over-the-counter (OTC) drugs
Generic:70%
By Manufacturer
- Captive (in-house) manufacturer
- Merchant (contract) manufacturer
Captive:57%
By Application
- Anti-diabetic drugs
- Non-steroidal anti-inflammatory drugs
- Cardiovascular drugs
- Musculoskeletal drugs
- Neurology drugs
- Oncology drugs
- Others
Cardiovascular:26%
By Region
- North America
- Latin America
- Europe
- Asia-Pacific
- Middle-East & Africa
Asia-Pacific:24%
Key Market Analysis
Some of the major players in active pharmaceutical ingredients market are Bristol-Myers Squibb (U.S.), Sanofi (France), Boehringer Ingelheim (Germany), Novartis AG (Switzerland),AbbVie Inc. (U.S.), Pfizer, Inc. (U.S.), GlaxoSmithKline Plc (U.K.), Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland),Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (U.S.), and AstraZeneca Plc (U.K.)among others.
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The fructooligosaccharides industry is subject to witness a substantial growth due to the growing consummation of packaged food products, particularly in the North America and European region.
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