Active Pharmaceutical Ingredients (API) Market: Introduction
According to the report, the global active pharmaceutical ingredients (API) market was
valued at US$ 168 Bn in 2020 and is projected
to expand at a CAGR of 6.4% from 2021 to 2031.
An active pharmaceutical ingredient (API) is any substance or mixture of
substances used in a finished pharmaceutical product (FPP) that is intended to
provide pharmacological action or to otherwise have a direct impact in the
diagnosis, remedy, mitigation, therapy, or prevention of disease, or to have a
direct effect in repairing, correcting, or altering physiological functions in
humans. The growth of the global active pharmaceutical ingredients (API) market
can be ascribed to increase in incidence & rise in prevalence of various
diseases; and surge in funding from government organizations and large
corporates for developing active pharmaceutical ingredients (API).
Request
a Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1690
North America dominated the global active
pharmaceutical ingredients (API) market in 2020 and the trend
is anticipated to continue during the forecast period. Presence of major market
players, significant healthcare expenditure, and early availability of new
products drive the market in North America. Additionally, large patient base in
the U.S. and surge in the number of active pharmaceutical ingredient (API)
suppliers propel the market in the country.
Asia Pacific is expected to be the second largest
market for active pharmaceutical ingredients (API) during the forecast period.
The market in the region is likely to expand at a high CAGR during the forecast
period.
Rise in Incidence & Prevalence of Diseases,
Increase in Entry of Various Companies, and Surge in Launch of New APIs to
Drive Global Market
The active pharmaceutical ingredients (API) market
is projected to grow at a rapid pace during the forecast period, owing to rise
in cases of various chronic diseases. The increase in incidence of chronic
diseases drives the global active pharmaceutical ingredients market. In the
past few decades, the incidence of chronic diseases, including diabetes, chronic
obstructive pulmonary disease (COPD), coronary artery disease, arthritis,
asthma, hepatitis, and cancer has increased significantly in major regions
across the globe. This could be attributed to the increase in the geriatric
population across the world (by 2050, more than 20% of
the global population is anticipated to be aged over 65 years), changing
lifestyles, and dietary changes as a result of rapid urbanization.
Enquiry
Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1690
According to the International Diabetes
Federation, 463 million people across the world were diagnosed
with diabetes in 2019. Moreover, the number of new cancer cases per
year is expected to increase to 23.6 million by 2030.
Apart from cancer, a number of other diseases has shown rise in prevalence
rates. Rise in prevalence of cancer, cardiovascular diseases, and diabetes;
surge in sedentary lifestyle, and increase in geriatric population are the key
drivers of the active pharmaceutical ingredients (API) market.
The increase in launch of various APIs drives the
global active pharmaceutical ingredients (API) market. For instance, in 2018,
Pfizer announced the launch of Retacrit, a biosimilar of Amgen’s Epogen for the
treatment of anemia.
In House Manufacturing to Dominate Global Market
In terms of manufacture type, the global active
pharmaceutical ingredients (API) market has been segmented into in house
manufacturing and contract manufacturing. The in house manufacturing segment
dominated the global active pharmaceutical ingredients (API) market in 2020 and
the trend is projected to continue during the forecast period. Global players,
such as Merck KGaA, prefer in-house production of APIs. This is a major factor
driving the segment. These players believe that in house manufacture provides
control of the process from start to finish. It offers the flexibility to
adapt as and when required. This is especially useful when a company wants to
respond to the market quickly and make a consumer-led change to the product, as
it does not have to go through another company or rely on anyone else. These
factors are anticipated to boost the growth of the segment during the forecast
period.
Labor costs constitute majority of the cost of any
manufacturing process. Outsourcing manufacturing eliminates the responsibility
and costs involved in hiring the staff required to do the job properly. This is
a major factor likely to drive the demand for contract manufacturing in the
near future.
Request
Report Methodology: https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=1690
Branded or Innovative Prescription Drugs to be
Highly Lucrative
Based on drug type, the global active
pharmaceutical ingredients (API) market has been categorized into branded or
innovative prescription drugs, generic prescription drugs, and OTC drugs. The
branded or innovative prescription drugs segment accounted for a prominent
share of the global active pharmaceutical ingredients (API) market in 2020.
According to TMR Research, medicine use has continued to rise, with people in
the U.S. filling 5.8 billion prescriptions in 2018,
an increase of 2.7% over the previous year. This was largely
driven by more patients receiving existing branded drugs and using newly
launched drugs.
Synthetic to be Highly Attractive API
In terms of API type, the global active
pharmaceutical ingredients (API) market has been classified into synthetic,
biological, and plant extracts. The synthetic segment accounted for a
significant share of the global active pharmaceutical ingredients (API) market
in 2020. This can be attributed to higher availability of raw
materials and easier protocols for the synthesis of these molecules.
Ask
References: https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=1690
Cardiovascular to be Major Application of API
Based on application, the global active
pharmaceutical ingredients (API) market has been divided into anti-infective,
cardiovascular, neurological, metabolic disorder, respiratory, oncology, and
others. The cardiovascular segment accounted for a major share of the global
active pharmaceutical ingredients (API) market in 2020. Drug
therapy is a major treatment modality in cardiovascular disease. Hypertension
and cardiovascular diseases (CVD) are quite common conditions, and account for
significant medical disability and death worldwide. New classes of
cardiovascular drugs would be effective for the treatment of hypertension and
CVD and decrease their socioeconomic consequences. New drug approval is one of
the prominent factors that drives the demand for APIs. These factors are
expected to propel the segment during the forecast period.
High Use of API in Pharmaceutical &
Biotechnology Industry
In terms of end user, the global active
pharmaceutical ingredients (API) market has been categorized into
pharmaceutical & biotechnological industry, CROs, CMOs, and others. The
pharmaceutical & biotechnological industry segment accounted for a major
share of the global active pharmaceutical ingredients (API) market in 2020.
A large number of pharmaceutical & biotechnology companies and their
preference for in-house manufacturing of finished dose products drives the
segment. Additionally, pharma companies are opening their own manufacturing
plants in emerging markets instead of imports to sell products, which drives
the segment.
Request
For Custom Research: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1690
North America to Dominate Active Pharmaceutical
Ingredients (API) Market
In terms of region, the global active
pharmaceutical ingredients (API) market has been segmented into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America dominated the global active pharmaceutical ingredients (API) market
in 2020, followed by Asia Pacific. Rise in prevalence of lifestyle
diseases and increase in healthcare expenditure are anticipated to boost the
market in North America during the forecast period.
The active pharmaceutical ingredients (API) market
in Asia Pacific is anticipated to expand at a significant CAGR from 2021 to 2031.
Favorable government initiatives, changing lifestyles leading to the
development of diseases, rise in investment in R&D, and technological
developments in drug manufacturing processes boost the market in the region.
Competition Landscape of Active Pharmaceutical
Ingredients (API) Market
The global active pharmaceutical ingredients (API)
market is fragmented in terms of number of players. Key players operating in
the global market include Merck & Co., Inc., Teva Pharmaceutical Industries
Ltd., Sanofi, Pfizer, Inc., Novartis AG, Mylan N.V., Lonza, WuXi AppTec Co.,
Ltd., Piramal Pharma Solutions, Hisun USA, Inc., Ipca Laboratories Ltd.,
AbbVie, Inc., Alembic Pharmaceuticals Limited, BASF SE, Biocon Ltd., Boehringer
Ingelheim International GmbH, Bristol-Myers Squibb Company, Cambrex
Corporation, Dr. Reddy's Laboratories Ltd., Eli Lilly and Company, and
GlaxoSmithKline plc.
Global Active Pharmaceutical Ingredients (API)
Market: Segmentation
- Active Pharmaceutical Ingredients (API) Market, by Manufacture Type
- In House Manufacturing
- Contract Manufacturing
- Active Pharmaceutical Ingredients (API) Market, by Drug Type
- Branded or Innovative Prescription Drugs
- Generic Prescription Drugs
- Over-the-counter (OTC) Drugs
- Active Pharmaceutical Ingredients (API) Market, by API Type
- Synthetic
- Biological
- Plant Extracts
- Active Pharmaceutical Ingredients (API) Market, by Application
- Anti-infective
- Cardiovascular
- Neurological
- Metabolic Disorder
- Respiratory
- Oncology
- Others
- Active Pharmaceutical Ingredients (API) Market, by End User
- Pharmaceutical & Biotechnological Industry
- CROs
- CMOs
- Others
More Trending Reports by Transparency Market Research:
PET Radiotracer Market - https://www.transparencymarketresearch.com/pet-radiotracer-market.html
Gemcitabine HCL Market - https://www.transparencymarketresearch.com/gemcitabine-hcl-market.html
Ketoanalogue for Kidney Disease Market - https://www.transparencymarketresearch.com/ketoanalogue-for-kidney-disease-market.html
Gout Therapeutics Market - https://www.transparencymarketresearch.com/gout-therapeutic-market.html
Chronic Kidney Disease [CKD] Nutritional Supplement Market - https://www.transparencymarketresearch.com/chronic-kidney-disease-ckd-nutritional-supplement-market.html
Smart Insulin Pens Market - https://www.transparencymarketresearch.com/smart-insulin-pens-market.html
Atopic Dermatitis Drugs Market - https://www.transparencymarketresearch.com/atopic-dermatitis-drugs-market.html
Skincare Serums Market - https://www.transparencymarketresearch.com/skincare-serums-market.html
About Us
Transparency
Market Research, a global market research company registered at Wilmington,
Delaware, United States, provides custom research and consulting services. The
firm scrutinizes factors shaping the dynamics of demand in various
markets. The insights and perspectives on the markets evaluate
opportunities in various segments. The opportunities in the segments based on
source, application, demographics, sales channel, and end-use are analysed,
which will determine growth in the markets over the next decade.
Our
exclusive blend of quantitative forecasting and trends analysis provides
forward-looking insights for thousands of decision-makers, made possible by
experienced teams of Analysts, Researchers, and Consultants. The proprietary
data sources and various tools & techniques we use always reflect the
latest trends and information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary research
techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our
YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
No comments:
Post a Comment