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Active Pharmaceutical Ingredients Market Size, Share, Growth and Report 2024-2031
Active Pharmaceutical Ingredients Market|| 2024-2031
The Active Pharmaceutical Ingredients (API) market involves the production and supply of the biologically active components in medications that produce the desired therapeutic effects. APIs are the essential ingredients responsible for the efficacy of drugs in treating various health conditions, including chronic diseases, infections, and disorders.
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Key Developments:
• On June 14, 2023, C2 PHARMA, a key manufacturer and supplier of ophthalmic and specialized active pharmaceutical ingredients (APIs), announced the successful clearance of a Drug Master Filing (DMF) for Digoxin. This API is supplied by their Polish manufacturing partner, Nobilus Ent, further enhancing their portfolio of essential pharmaceutical ingredients.
• Earlier, on November 18, 2022, Bajaj Healthcare Ltd achieved a significant milestone with the successful completion of the US Food and Drug Administration's (USFDA) pre-approval inspection of its API plant in Vadodara, Gujarat. The inspection concluded without any Form 483 observations, a testament to the company's high standards in manufacturing APIs, intermediates, and formulations.
• Additionally, on December 14, 2022, Eli Lilly and Company partnered with EVA Pharma to ensure a sustainable supply of high-quality, affordable insulin for over one million people with type 1 and type 2 diabetes in low- and middle-income countries (LMICs), primarily in Africa. This initiative aims to address a critical healthcare need in underserved regions.
Market Dynamics:
Rise in the Geriatric Population will help to Drive the Market Growth
A significant portion of the elderly population suffers from chronic conditions such as heart disease, cancer, type 2 diabetes, and arthritis, leading to a growing demand for health insurance policies within this age group. For example, Eurostat reported that as of January 2022, the EU population was around 446.7 million, with 21.1% being individuals aged 65 or older. This marks an increase of 0.3 percentage points from the previous year and 3.1 percentage points compared to a decade earlier.
Furthermore, a recent United Nations (UN) report predicts that the global population of individuals aged 65 and older will double in the next 30 years, reaching 1.6 billion by 2050, accounting for over 16% of the world's population. This increasing geriatric population is expected to significantly drive market growth for health insurance and related services.
Segment Covered in Waste Management Market:
By Type: Synthetic API, Biotech API.
By Nature: Generic API, Innovator API.
By Manufacturing type: Captive, Merchant.
By Application: Cardiovascular, Diabetes, Oncology, Orthopaedics, Neurology, NSAIDS, Others.
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Key players involved in Active Pharmaceutical Ingredients Market:
• Aurobindo Pharma
• Teva Pharmaceutical Industries Ltd
• Pfizer Inc.
• Novartis AG
• BASF SE
• Boehringer Ingelheim GmbH
• Dr. Reddy's Laboratories Ltd
• Lupin Ltd
• Mylan NV
• Sun Pharmaceutical Industries Ltd
*Note:
• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.
Regional Analysis:
The Active Pharmaceutical Ingredients Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. Active Pharmaceutical Ingredients Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
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