United States Active Pharmaceutical Ingredient (API) Market Report 2021: Synthetic Method of Synthesis Dominated the Market with a Share of 58.29% in 2020 - Forecast to 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "United States Active Pharmaceutical Ingredient Market, By Method of Synthesis, By Source, By Distribution Channel, By Therapeutic Application, By Form, By Molecule Type, By Potency, By Drug Type, By Region, Competition Forecast & Opportunities, 2016 - 2026" report has been added to ResearchAndMarkets.com's offering.
The United States Active Pharmaceutical Ingredient Market stood at USD17.81 billion in 2020 and is projected to grow at a CAGR of 9.73% to cross USD31.48 billion by 2026.
This can be attributed to growing prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer, respiratory disorders, among others. This has drastically increased the patient pool thereby increasing the demand for drugs. This in turn is expected to positively influence the market growth through 2026.
Additionally, increasing R&D by various biopharmaceutical companies in drug discovery is further expected to spur the market growth over the next few years. Besides this, growing importance of generics is also expected to foster the market growth in the next five years.
The United States Active Pharmaceutical Ingredient Market can be segregated based on method of synthesis, source, distribution channel, therapeutic application, form, molecule type, potency, drug type, region and company. Based on method of synthesis, the market can be split into synthetic and biological.
The synthetic method of synthesis dominated the market with a share of 58.29% in 2020 on account of the easy availability of raw materials and easier process for development of active pharmaceutical ingredients. While the biological method of synthesis segment is expected to grow at a rate of 10.82% during the forecast period owing to the growing demand for vaccines, monoclonal antibodies, recombinant proteins, biosimilars, among others.
Leading players operating in the market include Teva Pharmaceutical Industries Limited, Merck & Co., Inc., Pfizer Inc., Dr. Reddy's Laboratories Limited, Lupin Pharmaceuticals, Inc., Glenmark Pharmaceuticals, Inc., GlaxoSmithKline Plc, Novartis Inc. (Sandoz), Aurobindo Pharma USA, Inc., Sun Pharmaceutical Industries Ltd., Eli Lilly and Company, AbbVie Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Sanofi-Aventis U.S. LLC and others.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, in 2020, Pfizer (US) signed a multiyear agreement with Gilead Sciences Inc., to manufacture and supply Gilead's antiviral drug (Remdesivir) for the treatment of COVID-19.
Key Target Audience:
- Active pharmaceutical ingredient manufacturers, contract manufacturers and other stakeholders
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to active pharmaceutical ingredient
Years considered for this report:
- Historical Years: 2016 - 2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022- 2026
In this report, the United States Active Pharmaceutical Ingredient Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Method of Synthesis:
Market, By Source:
- Contract Manufacturing Organizations
- In-house manufacturing
Market, By Distribution Channel:
Market, By Therapeutic Application:
- Cardiovascular Disease
- Neurological Disorders
Market, By Form:
Market, By Molecule Type:
Market, By Potency:
Market, By Drug Type:
Market, By Region:
- Teva Pharmaceutical Industries Limited
- Merck & Co., Inc.
- Pfizer Inc.
- Dr. Reddy's Laboratories Limited
- Lupin Pharmaceuticals, Inc.
- Glenmark Pharmaceuticals, Inc.
- GlaxoSmithKline Plc
- Novartis Inc. (Sandoz)
- Aurobindo Pharma USA, Inc.
- Sun Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- AbbVie Inc.
- Bristol-Myers Squibb
- F. Hoffmann-La Roche Ltd.
- Sanofi-Aventis U.S. LLC
For more information about this report visit https://www.researchandmarkets.com/r/kr2zka
Laura Wood, Senior Press Manager
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