Active Pharmaceutical Ingredient Market Size Worth $306.1 Billion By 2027 | CAGR: 7.1%

According to the research report, the global active pharmaceutical Ingredient (API) market was valued at USD 177.4 billion in 2019 and is expected to reach USD 306.1 Billion By 2027, growing at a CAGR of 7.1% during the forecast period.

Active Pharmaceutical Ingredient (API) is a substance involved in the finished pharmaceutical product (FPP), aimed to enhance the pharmacological activity or have direct impact in the cure, mitigation, diagnosis, treatment of disease or in modifying, correcting or restoring physiological functions in the human body. Drug products are composed of various components, API is the primary ingredient of a drug product, for instance, capsule or a tablet. APIs form used in the formulation is the most stable crystalline form, thermo-dynamically.

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The prominent factors favoring the global market include the sudden outbreak of novel corona virus, which is rapidly escalating the demand for pharmaceuticals and thereby fueling the overall market growth. Additionally, rise in aging population, rising cases of cardiovascular diseases, cancer, AIDs, other infectious diseases, are further contributing to augmenting demand for APIs that are used in drugs. For instance, according to a report published in March 2020, by World Health Organization (WHO), the number of COVID-19 patients increased to 200,000 and in almost after twelve-day period, the number would exceed by 100,000. Moreover, rising incidence of cardiovascular, oncology, diabetes and lifestyle diseases coupled with rising geriatric populace is furthermore surging the overall demand for the global market.

Top Market Players Are:

Market participants such as AbbVie Inc., Albemarle Corporation, AstraZeneca, Aurobindo Pharma, Boehringer Ingelheim, Bristol-Myers Squibb, Cipla Inc., Dr. Reddy's Laboratories Ltd., ELI Lilly and Company, F. Hoffmann-La Roche, GlaxoSmithKline PLC, Lonza Group, Merck & Co., Inc., Mylan N.V., Novartis AG, Pfizer, Inc., Sanofi, Sun Pharmaceutical Industries Ltd, and Teva Pharmaceutical Industries Ltd. are some of the key players operating in the global market.

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Players in the market are focusing on developing active pharmaceutical Ingredient to suffice the rising demand of critical drugs for the treatment of numerous diseases. For the treatment of various diseases such as cancer, HIV, arthritis, Hepatitis-B, diabetes, cardiovascular diseases, Aids and various others, which are responsible for the majority of deaths across the globe, the innovation and demand for pharmaceuticals has witnessed elevated graph over the few decades. This has further resulted in rise in growth of API during the past years and also over the forecast period.

Major players in the market are strengthening their capabilities to enhance their product portfolio and further establish their market place. For instance, on July, 2020, Advert International signed an agreement for the acquisition of RA Chem Pharma Ltd, an integrated pharmaceutical company by Micro Labs Ltd. for USD 1.7 billion. Advert International aims for building one of the major API platforms and is expected to leverage their operational and financial resources across the globe to scale RA Chem Pharma.

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Polaris Market Research has segmented the Active Pharmaceutical Ingredient market on the basis of product type, form, manufacturer type, application, and region

Active Pharmaceutical Ingredient Product Type Outlook (Revenue - USD Million, 2016 - 2027)

Monoclonal Antibodies
Immunoglobulin
Cytokines
Insulin
Peptide Hormones
Blood Factors
Peptide Antibiotics
Vaccines
Small Molecule Antibiotics
Highly Potent Active Pharmaceutical Ingredient (HPAPI)
Others

Active Pharmaceutical Ingredient Form Outlook (Revenue - USD Million, 2016 - 2027)

Aqueous
Non-Aqueous Liquid
Dry Powder

Active Pharmaceutical Ingredient Manufacturer Type Outlook (Revenue - USD Million, 2016 - 2027)

Captive
Merchant

Active Pharmaceutical Ingredient Application Outlook (Revenue - USD Million, 2016 - 2027)

Cardiology
Oncology
CNS & Neurology
Orthopedic
Endocrinology
Pulmonology
Gastroenterology
Nephrology
Ophthalmology
Others

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