[225+ Pages Research Report] According to the recent research report; the global Active Pharmaceutical Ingredient Market in 2019 was approximately USD 177.6 Billion. The market is expected to surge at a CAGR of 5.5% and is anticipated to surpass USD 258.3 Billion by 2026. Top market players in the market are Abbvie Inc., Dr. Reddy’s Laboratories Ltd, Eli Lilly and Company, Cipla, Bristol Myers Squibb, Boehringer Ingelheim GmbH and others.
New York, NY, April 12, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Active Pharmaceutical Ingredient Market By Type (Innovative APIs, and Generic APIS), By Manufacturer (Captive Manufacturers, and Merchant Manufacturers), By Type of Synthesis (Synthetic, and Biotech), By Drug Type (Prescription Drugs, and Over-the-counter Drugs), and By Therapeutic Application (Communicable Diseases, Oncology, Diabetes, Cardiovascular Disease, Pain Management, Respiratory Diseases, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global Active Pharmaceutical Ingredient Market was estimated at USD 177.6 Billion in 2019 and is expected to reach USD 258.3 Billion by 2026. The global Active Pharmaceutical Ingredient Market is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2019 to 2026”.
Active Pharmaceutical Ingredient Market: Overview and Definition
APIs are synthetic and organically dynamic components of drugs that have a direct effect on disease cure, moderation, care, and counteraction. Because of the increased use of medications and biologics in the treatment of diseases, the global API market has grown dramatically in recent decades. The growing use of value models in API manufacturing, such as Good Manufacturing Practices (GMP) and current GMP (cGMP), as well as the global acceptance of International Conference on Harmonization (ICH) laws, has strengthened security guidelines. On the other hand, the API industry is facing challenges such as reducing development time, lowering development costs, improving process structure, and meeting quality requirements without sacrificing profit.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Active Pharmaceutical Ingredient Market?
2) What is the market size, share of the Active Pharmaceutical Ingredient Market?
3) Who are the top market players in Active Pharmaceutical Ingredient Market?
4) What will be the future market of the Active Pharmaceutical Ingredient Market?
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
Competitive Landscape – Top key vendors and other prominent vendors
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Active Pharmaceutical Ingredient Market: Industry Major Market Players
Bristol Myers Squibb
Boehringer Ingelheim GmbH
Dr. Reddy’s Laboratories Ltd
Eli Lilly and Company
Teva Pharmaceutical Industries Ltd
Sun Pharmaceutical Industries Ltd
Merck & Co.
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Active Pharmaceutical Ingredient Market: Market Dynamics
Advances in active pharmaceutical ingredient (API) manufacturing, as well as the increasing prevalence of chronic diseases like cardiovascular disease and cancer, are both contributing to the rise. Government policies that encourage API demand, as well as shifts in geopolitical circumstances, are propelling the market forward. The API market is experiencing significant changes as a result of COVID-19's supply chain disruption. Due to geopolitical circumstances and a desire to minimize reliance on China for API goods, countries such as India are being favored over China for API export. Furthermore, several governments have devised policies and provided incentives to encourage the development of goods.
Increased R&D programs for novel drug production, as well as favorable government legislation, are credited with the growth of the innovative APIs market. Many products are now in the pipeline as a result of extensive research in this area and are expected to be launched during the forecast era. The competition is expected to be driven by new entrants.
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In 2020, the synthetic API segment had the highest revenue share of 69.97 % this is due to the increased availability of raw materials and the ease with which these molecules can be synthesized. Many synthetic molecules are also expected to become off-patent in the coming years, boosting development.
Over the forecast era, the biotech segment is projected to develop at the fastest CAGR of 7.2%. Factors such as rising demand for biopharmaceuticals and higher molecule efficiency are propelling this segment forward. Furthermore, high investments in the biotechnology and biopharmaceutical sectors can be attributed to the biotech segment's growth. This opens the door to the development of new molecules that help in the treatment of diseases like cancer. Biotech-related API's high revenue makes the industry highly lucrative, attracting major players. For example, Clinigen, Inc.'s Proleukin (aldesleukin) is a biologic therapy for metastatic renal cell carcinoma.
Global Active Pharmaceutical Ingredient Market: Growth Factor
The growing activity for research and development on drug production increased popularity of generic products, and the use of biopharmaceuticals, are the key factors driving the growth of the global active pharmaceutical industry. The unfavorable policies of price regulation for drugs in different countries and high production costs are, however, likely to hamper demand growth.
The growing prevalence of chronic diseases would raise the demand for medicines, which is projected to accelerate the market growth of active pharmaceutical ingredients in the immediate future. The world's leading cause of death was cardiovascular diseases, estimating about 17.9 million lives a year, according to the WHO.
Around 5.8 million people in the U.S. were reported to suffer from Alzheimer's in 2018 by the Alzheimer's Association. The illness is the sixth most common cause of death for people over 65 years of age in the United States. The population of baby booms is estimated to reach 14 million and to intensify in the projected timeframe, approaching the age of about 65. By 2050, every 33 seconds a new case of this disease could arise.
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North America is projected to Dominate Global Active Pharmaceutical Ingredients Market Growth
North America had the highest market share of 41.5 percent in 2019 and is projected to hold that position during the forecast period. This can be due to the increasing epidemiology of cancer and other lifestyle-related diseases, which encourages R&D and thus boosts business growth.
During the forecast era, Asia Pacific is expected to have the highest CAGR of 7.4%. The presence of economies like China and India, which the world relies on for low-cost API production, is a benefit for the region. The market is expected to rise due to rising healthcare expenditure in the region.
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The global active pharmaceutical ingredients market is segmented as follows:
By Type of Synthesis:
By Drug Type:
By Therapeutic Application:
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