Press release
Active Pharmaceutical Ingredients Market will be Valued at $308.48 Billion by 2023: Global Key Players – Teva Active Pharmaceutical Industries, Ranbaxy Laboratories, Mylan N.V, Lupin, Aurobindo pharma, Albemarle Corporation, Ceva Animal Health
Active Pharmaceutical Ingredients
The Global Active Pharmaceutical Ingredients Market is accounted for $151.89 billion in 2017 and is expected to reach $308.48 billion by 2026 growing at a CAGR of 8.2% from 2017 to 2026. Increase in incidence of chronic diseases, rising prevalence of cancer, technological advancements in API manufacturing, growing importance of generics, rapidly increasing geriatric population, increase in abbreviated new drug applications (ANDA) and increasing uptake of biopharmaceuticals are some factors fueling the market growth. However, factors such as stringent regulatory requirements and unfavorable drug price control policies across various countries are restricting the market growth.
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Industry Insights:
Active pharmaceutical ingredients are any substance or combination of substances used in a finished pharmaceutical product with pharmacological activity. Active Pharmaceutical Ingredients are chemically and biologically active components of drugs with direct effect in cure, mitigation, treatment and prevention of diseases. An active ingredient (AI) is the ingredient in a pharmaceutical drug that is biologically active. The similar terms active pharmaceutical ingredient (API) and bulk active are also used in medicine, and the term active substance may be used for natural products. Some medication products may contain more than one active ingredient. The tradtional word for the API is pharmacon or pharmakon which originally denoted a magical substance or drug.
Major Players:
Some of the key players in Active Pharmaceutical Ingredients market include Teva Active Pharmaceutical Industries Limited, Ranbaxy Laboratories, Pfizer, Inc, Novartis, Mylan N.V, Lupin, Dr. Reddy's Lab, Boehringer Ingelheim GmbH, Aurobindo pharma, Albemarle Corporation, Ceva Animal Health, Inc., Virbac, Sun Pharmaceutical Industries Ltd., Merck Animal Health (U.S.), Elanco Animal Health (U.S.), Zoetis (U.S.), Merial Inc. (Sanofi) (France), Bioniche Animal Health (Canada), Bayer Healthcare (Germany), ELI Lilly and Company, Glaxosmithkline PLC, Abbvie Inc., Sanofi and Bristol-Myers Squibb.
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Market Segmentation:
Amongst Customer Base, Generic segment accounted for significant market share during the forecast period. Generic drugs benefit from the patent expiration of innovative drug as it makes them readily available in the market. The demand to produce quality medicines at lower and affordable costs creates a scenario, where the needs for generic drugs increase. By geography, Asia Pacific dominated the market due to the rising healthcare spending which has led to quality healthcare becoming accessible along with a higher demand for pharmaceutical products across APAC. The pharmaceuticals consumed here are mostly produced in onshore manufacturing units. Furthermore, contract manufacturing organizations are key outsourcing allies for pharmaceutical companies that supply their wares across the region.
Drug Types Covered:
• Generic Prescription
• Innovative Drugs
• Over-the-counter (OTC) Drugs
• Prescription Drugs
• Potency
Type of Synthesises Covered:
• Biotech Active Pharmaceutical Ingredients
• Synthetic Active Pharmaceutical Ingredients
Applications Covered:
• Anti-diabetic Drugs
• Cardiovascular Disease
• Central Nervous System and Neurological Disorders
• Diabetes
• Endocrinology
• Gastrointestinal Disorders
• Musculoskeletal drugs
• Non-steroidal Anti-inflammatory Drugs
• Oncology
• Orthopedic Disorders
• Respiratory
• Urology
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