Active Pharmaceutical Ingredient Market | Ongoing Trends and Recent Developments | Major Key Players like Pfizer Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany)

The study involved four major activities to estimate the current size of the Global Active Pharmaceutical Ingredient Industry. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.

Objectives of this Study:

• To define, describe, and forecast the global APIs Market on the basis of type, type of manufacturer, type of synthesis, type of drug, therapeutic application, and region
• To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micro-markets with respect to the individual growth trends, future prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
• To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
• To track and analyze competitive developments such as partnerships, agreements, collaborations, joint ventures, alliances, mergers & acquisitions, approvals, expansions, and R&D activities in the global APIs market.

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Expected Revenue Growth in the Global Active Pharmaceutical Ingredient Market:

The global APIs Market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period.

Factors Responsible for the Global Growth of This Industry:

The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the Global Active Pharmaceutical Ingredient Market.

On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.

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Geographical Growth Scenario for Active Pharmaceutical Ingredient Market:

“North America to dominate the Active Pharmaceutical Ingredient Market in 2019.”

In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs Market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.

Leading Active Pharmaceutical Ingredient Market Players and Growth Strategies Adopted by Them:

The global APIs Market has several big players. The key players in the market are Pfizer Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK).

These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.

Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018.

Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).

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This release was published on openPR.