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Active Pharmaceutical Ingredient Market: Global Active Pharmaceutical Ingredient Share to surpass $213.84 Bn by 2027
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APIs are frequently referred as "bulk pharmaceuticals”. The active pharmaceutical ingredient is a biologically active portion of any pharmaceutical drug. Occasionally, API needs cofactor in order to attain specific effects on the body. Some active pharmaceutical ingredients are unidentified and therefore need additional substances, which can work in combination with the API to generate the required medicinal effect on the body. In herbal medicines, the API is generally a mixture of various substances, which act collectively on the body.
The market for API is expected to have the highest growth rate in the forecast period. The increasing prevalence of diabetes, neurological disorders, and other chronic diseases are the major driving factor of the global API market. One of the key drivers of the API market is an increase in the outsourcing of active pharmaceutical ingredients manufactured by pharmaceutical companies which are done to reduce both manufacturing and infrastructure costs. Such outsourced manufacturing activities are carried out by low-cost vendors in the Asia Pacific region.
However, strict regulations are one of the major challenges faced by the global API market. Such regulations are predominantly well defined in developed regions such as North America and Europe. Vendors in this market space are supposed to obey the detailed procedures prior to product commercialization.
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The global API market is segmented based on API synthesis, type of manufacturing, and type of API, application and by region. Depending on synthesis market is classified into biotech API, synthetic chemical API, and HPAPI. On the basis of the type of drug, the market is segmented into branded drugs, generic drugs, and OTC (Over the Counter) drugs. The branded drug segment accounted for the largest share in 2015. Different therapeutic application of the API market includes cardiology, oncology, anti-inflammatory, gastrointestinal and others. The oncology segment is anticipated to grow at the highest growth rate in coming years due to increasing prevalence of cancer worldwide.
North America is leading market for API and acquired the largest share in 2015. Asia-Pacific region is expected to emerge as fastest growing region due to low operation costs and high investments in medical research. Furthermore, the high cost of trained labor and energy are the most important factors that enforced European market to move their base to develop countries such as India and China.
Sun Pharmaceuticals Industries Limited, Novartis International AG, BASF SE, Pfizer, Inc., Aurobindo, Albemarle Corporation, and Boehringer Ingelheim among others are some of the leading players in API market.
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The report segments the global active pharmaceutical ingredient market as
Active Pharmaceutical Ingredient Market: API Synthesis Segment Analysis
Biotech API
Synthetic Chemical API
HPAPI
Active Pharmaceutical Ingredient Market: Type of Manufacturing Segment Analysis
Contract Manufacturing
In-House API Manufacturing
Active Pharmaceutical Ingredient Market: Type of API Segment Analysis
Synthetic API
Biological API
Active Pharmaceutical Ingredient Market: Drug Type Segment Analysis
Branded Drugs
Generic Drugs
OTC Drugs
Active Pharmaceutical Ingredient Market: Therapeutic Application Segment Analysis
Cardiology
Oncology
Anti-Inflammatory
Gastrointestinal
Other
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