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Analysis Of The Global Active Pharmaceutical Ingredients Market 2023: Trends, Growth Insights, Restraints, Competitive Landscape, And Future Opportunities || Albemarle Corporation, Aurobindo Pharma, Dr. Reddy's Laboratories Ltd., AbbVie Inc
Active Pharmaceutical Ingredients Market
Active Pharmaceutical Ingredients Market Size, Growth Rate, And Forecast
The global active pharmaceutical ingredients market size is expected to grow from $204.11 billion in 2022 to $218.40 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The active pharmaceutical ingredients market size is expected to grow to $275.36 billion in 2027 at a CAGR of 6.0%.
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Active Pharmaceutical Ingredients Market Drivers
The increasing incidence of chronic diseases is expected to propel the growth of the active pharmaceutical ingredients market going forward. Chronic disease is one that often lasts for three months or longer and may worsen with time. Cancer, heart disease, stroke, diabetes, and arthritis are the most prevalent chronic diseases. APIs are used in high-quality medications that address oncology, cardiology, neurology, orthopedic, and other illnesses. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), a Belgium-based global organization to advocate for the global treatment, control, and cure of diabetes, by 2030, the number of people with diabetes is expected to increase to 578 million, and 700 million by 2045 from 463 million in 2019. Nearly half of deaths from diabetes occur in adults under the age of 60, making it one of the top 10 killers. Therefore, increasing incidence of chronic diseases will drive the growth of the active pharmaceutical ingredients market.
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Active Pharmaceutical Ingredients Market Segments
• By Type: Innovative APIs (Active Pharmaceutical Ingredient), Generic APIs (Active Pharmaceutical Ingredient)
• By Type Of Manufacturer: Captive Manufacturers, Merchant Manufacturers
• By Type Of Synthesis: Synthetic APIs (Active Pharmaceutical Ingredient), Biotech APIs (Active Pharmaceutical Ingredient)
• By Type Of Drug: Prescription Drugs, Over-The-Counter Drugs
• By Therapeutic Application: Communicable Diseases, Oncology, Diabetes, Cardiovascular Disease, Pain Management, Respiratory Diseases, Other Therapeutic Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the active pharmaceutical ingredients market.
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Active Pharmaceutical Ingredients Market Key Players
Major competitors in the active pharmaceutical ingredients market are Albemarle Corporation, Aurobindo Pharma, Dr. Reddy's Laboratories Ltd., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Cipla Inc.
The Business Research Company's "Global Active Pharmaceutical Ingredients Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Active Pharmaceutical Ingredients Market Include:
1. Executive Summary
2. Active Pharmaceutical Ingredients Market Characteristics
3. Active Pharmaceutical Ingredients Market Trends And Strategies
4. Active Pharmaceutical Ingredients Market - Macro Economic Scenario
5. Active Pharmaceutical Ingredients Market Size And Growth
………………
27. Active Pharmaceutical Ingredients Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Active Pharmaceutical Ingredients Market
29. Active Pharmaceutical Ingredients Market Future Outlook and Potential Analysis
30. Appendix
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