Global Active Pharmaceutical Ingredient/ API Market is Expected to Reach at a CAGR of 7.70% from 2018 to 2025
A new research report published by Fior Markets with the title Global Active Pharmaceutical Ingredient/ API Market by Type (Innovative, Generic), Synthesis, Drug, Therapeutic Application, Manufacturer, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025
As per the report, the global active pharmaceutical ingredient/ API market is expected to grow from USD 179.13 Billion in 2017 to USD 319.07 Billion by 2025 at a CAGR of 7.70% during the forecast period from 2018-2025. North America has captured the largest market share and generating the highest revenue during the forecast period. Presence of most of pharmaceutical companies and rising favourable government initiatives for usage of generic drugs and technological advancements in the field of drug manufacturing.
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Major players operating in the market are Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Sanofi, Bristol-Myers Squibb, Novartis AG, Boehringer Ingelheim, GlaxoSmithKline plc, Eli Lilly and Company, AbbVie Inc., Merck & Co., Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd Abbott Laboratories and others. Major players are engaged in developing new technologies to retain their foothold in the global market. For instance, in January 2018, Sterling Pharma Solutions expanded its presence in the Asia region due to growing Japanese API market. In February 2018, ACETO Corporation collaborated with Rising Pharmaceuticals and launched Atenolol tablets in range of 25mg, 50mg, and 100mg for hypertension.
Type segment is divided into generic and innovative. Innovative API is dominating and held the largest market share of 58.07% in 2017. High prescription rate, and extensive use of innovative APIs in drug development initiatives are favouring the growth of the segment. Synthesis segment is classified into biotech and synthetic. Biotech segment held the largest market share in the assessment period. High demand for protein-based therapeutics and increasing focus of manufacturers toward biological drugs are driving the segment. Therapeutic application segment is classified into communicable diseases, oncology, pain management, diabetes, cardiovascular diseases and others. The cardiovascular diseases segment held the largest market share of around 36.17% in 2017. The growth can be attributed to increasing prevalence rate and high amount of product availability. Manufacturer segment is bifurcated into in house API manufacturing and API contract manufacturing. In house API manufacturing is expected to grow at the CAGR of 9.71% in the forecast period. Most big pharmaceutical companies have their own API manufacturing facilities and integrated pharmaceutical supply chain
Rising geriatric population in developing countries and increasing healthcare expenditure are expected to enhance the growth of the market in the forecast period. In addition, growing technological advancement and increasing adoption of biologicals and biosimilars is boosting the growth of the market. Patent expirations are responsible for loss for pharmaceutical companies, hence restricting the growth of the market. However, rising prevalence of chronic diseases such as cancer, neurological diseases, and cardiovascular diseases are favouring the growth of the market.
About the report:
The global active pharmaceutical ingredient/ API market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire