Global Active Pharmaceutical Ingredient Market || keyplayers

An active pharmaceutical ingredient (API) is a drug or mixture of drugs applicable in a finished pharmaceutical product (FPP). API is a biologically active ingredient within the drug product intended for the treatment, diagnosis, or prevention of a disease. It is the definite component liable for the desired effect it has on the subject using it.

Rising prevalence of infectious diseases, cardiovascular conditions, and other chronic disorders among individuals globally is the major factor driving growth of the global market. In addition, due to rising prevalence of cancer, several manufacturers are focusing on development of highly potent APIs (HPAPI) and specialty APIs, thus boosting growth of the global market. According to data published by World health organization, cancer is the second leading cause of death globally and is projected to account for 9.6 million deaths in 2018. Furthermore, large numbers of drugs are in the pipeline to develop treatments for cancer, autoimmune disorder, and metabolic diseases. Increasing healthcare expenditure and rising geriatric population in developing countries are expected to enhance growth of the target market over the forecast period. However, increasing penetration of counterfeit drugs and unfavorable drug price control policies across various countries is expected to hamper growth of the global active pharmaceutical ingredients (API) market over the forecast period. Nevertheless, increasing demand toward the development of complex APIs used in novel formulations, targeting niche therapeutic areas is the major trend observed for the growth of the target market.

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The global active pharmaceutical ingredients (API) market is segmented based of type, business mode, synthetic type, application, and region.

Based on type, the global active pharmaceutical ingredients (API) market is segmented into generic and branded. On the basis of business model, the global market is segmented into captive API and merchant API. On the basis of synthesis type, the global market is bifurcated into synthetic and biotech. Biotech synthesis type segment held the highest market share, owing to high demand for protein-based therapeutics and increasing focus of manufacturers toward biological drugs. Based on application, the target market is classified into Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, and Orthopedic. Cardiology application segment accounts for the highest growth due to increasing prevalence rate and high amount of product availability.

Based on region the global active pharmaceutical ingredients (API) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2019, North America is anticipated to dominate the global market, followed by Europe. Increasing government focus on generic drugs, coupled with growing incidence of preventable chronic diseases and rising demand for biologics and specialty drugs are the major factor driving growth of the global market in this region. In addition, technological advancements in the manufacturing processes of APIs also boost growth in this region. Asia pacific is projected to register the highest growth over the forecast period. Availability of affordable labor is the major reason industries are setting up the API manufacturing plants in the developing countries such as India and China.

Key players operating in the global active pharmaceutical ingredients (API) market includes Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer, Inc., Bristol-Myers Squibb, Novartis AG, Boehringer Ingelheim, GlaxoSmithKline plc, Eli Lilly and Company, AbbVie Inc., and Merck & Co., Inc. Technological advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global market. For instance, in January 2018, Sterling Pharma Solutions has expanded its presence in the Asia region, owing to increasing Japanese API market. The company aim to provide services such as hazardous chemistry, fluorination, and continuous processing as well as growth in emerging Pharma sector of Japan. In February 2018, ACETO Corporation partnership with Rising Pharmaceuticals and developed Atenolol tablets in range of 25mg, 50mg, and 100mg for hypertension.

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This release was published on openPR.