Active Pharmaceutical Ingredient Market
SummaryThe Active Pharmaceutical Ingredient market is expected to reach USD 272.63 Billion by 2025 from USD 157.26 Billion in 2016 at a CAGR of 6.4%.
The Active Pharmaceutical Ingredient market is expected to reach USD 272.63 Billion by 2025 from USD 157.26 Billion in 2016 at a CAGR of 6.4%. Active Pharmaceutical Ingredient (API) is biological or chemical products in the drug that actively works in treating the condition or disease. A single drug may contain one or more APIs and create a reaction or response to the ailment/condition. Based on the intensity of reaction APIs are capable of, the dosage of a medicine is prescribed and have a wide range of function including treatment or cure of the various ailments, diagnosis of a disease/condition or prevention.
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The rising application of specialty medicines, increased demand of generic and branded drugs has increased the overall spending of the medicine market, thereby contributing to the growth of medicine market. However, particularly for the API market, availability of affordable labor costs and abundant raw material are the critical factors responsible for the substantial growth in the API market. The government’s favorable tax policies and supportive regulatory policies also encourage establishment of API manufacturing plants and are therefore contributing in fueling the growth of API market.
Consumption of non-controlled drugs by an extremely large patient population base is also a key factor leading to the increased sales of APIs. However, manufacturers of active pharmaceutical ingredient require long-term contracts with western drug manufacturers and application of sophisticated technologies in order to optimize of economies of scale which acts as a constraint for the API market.
Based on manufacturing process, the market is segmented into captive manufacturing and contract manufacturing. Contract Manufacturing holds substantial share in the API market as not all pharmaceutical companies are integrated with a separate unit for formulation of active drug ingredients leading to increased outsourcing of API molecules.
Types of active pharmaceutical ingredients described in the global market include synthetic chemical API and biological API. The Synthetic chemical API dominates the API market due to their extensive availability. However, rising demand for biosimilar and protein-based therapeutics are estimated to contribute toward lucrative growth of biotech APIs market. On the basis of drug type, the market is bifurcated into branded prescription drugs, generic prescription drugs, OTC prescription drugs. The branded prescription drugs are leading this segment due to their higher demand in developing countries.
The global therapeutics market encompasses sub sections such as cardiovascular disorders, oncology, metabolic disorders, neurological disorders, musculoskeletal disorders, NSAIDs and other therapeutic uses. Cardiovascular diseases hold the largest share in the therapeutics segment of API market due to high prevalence of heart diseases. However, the oncology segment is projected to increase its hold on the market owing to high number of products waiting for market approval.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The North American Region dominated the overall API market over the forecast period owing to the sophisticated R&D techniques and ample expenditure, favorable government policies for usage of generic drugs and advanced technologies.in the drug manufacturing field. Asia Pacific is expected to follow North American market due to increased demand and availability of affordable labor.
Major players profiled in the report include Sandoz (Novartis AG), Lonza Group, Pfizer, Inc., Boehringer Ingelheim Group, WuXi Apptec, BASF SE, Cambrex Corporation, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Allergan plc and Mylan, Inc.
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