Active Pharmaceutical Ingredients Market 2024 with Top Key Players (Novartis AG, Sun Pharmaceutical Industries Ltd, Pfizer, Mylan N.V., Dr. Reddy's Laboratories), Global Analysis and Competitive Strategies

The main objective of this report is to define, describe, and forecast the global “Active Pharmaceutical Ingredients” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global active pharmaceutical ingredients market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.

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Global Active Pharmaceutical Ingredients Market: North America has amassed the growth in Active Pharmaceutical Ingredients Market

The global Active Pharmaceutical Ingredients market has been dominated by the North America region over the historic period 2015-16 followed by Europe.

Growing geriatric population, increasing prevalence of chronic and lifestyle diseases as well as presence of key players in the region are the prime factor responsible for the growth of Active Pharmaceutical Ingredients market in this region.

Rising number of healthcare facilities, increasing healthcare expenditure and growing awareness among the diseases are anticipated to boost the market for Active Pharmaceutical Ingredients.

Surging demand for geriatric drugs to boost the growth in Active Pharmaceutical Ingredients Market

Continual surging demand for geriatric drug is one of the recent trends in the global Active Pharmaceutical Ingredients market. Moreover, this trend is further anticipated to drive the global Active Pharmaceutical Ingredients market over the forecast period.

Moreover, the growth in demand for geriatric drugs is responsible owing to increasing geriatric population more likely having more than one chronic disorder.

Rising incidences of chronic and lifestyle diseases

Rise in incidences of chronic and lifestyle disease is the key factor responsible for the growth of global Active Pharmaceutical Ingredients market.

Moreover, the rising incidences of chronic disorders such as high blood pressure, diabetes or arthritis and lifestyle disease are responsible owing to factors such as changing lifestyle, unhealthy food, smoking & alcohol consumption and increasing aging populace.

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Leading vendors in the market are concentrating on tying up with new pharmaceutical companies to gain competitive edge which is anticipated to bring more opportunities and chances of growth.

The leading companies identified in the market as Novartis AG, Sun Pharmaceutical Industries Ltd, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Dr. Reddy's Laboratories, Actavis plc, Lonza Group AG, Hospira Inc. and BASF SE.

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