NSAID API Market Growth to Remain Stable during 2017 - 2025
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The improving access to healthcare with the rapid penetration of technology and other developments in the healthcare sector has increased the consumption of drugs, thereby directly creating a positive impact on NSAID API market. Furthermore, growing healthcare budgets of developed and developing countries are also making a significant contribution towards propelling the sale of NSAID API market. Furthermore, the compliance by Indian active pharmaceutical ingredients manufacturers with U.S. FDA norms is also anticipated to result in increasing applications of this substance.
The captive API manufacturing segment is witnessing a continuous decline in the global NSAID API market due to the high degree of competition and reduced profitability. High research & development costs and pricing pressure on finished products are important factors due to which pharmaceutical companies prefer outsourcing their API production instead of in-house manufacturing.
The global pharmaceutical industry has suffered enormously due to patent expiry of blockbuster drugs in the past few years. However, this has facilitated a surge in demand for low-cost substitutes across the globe resulting in a boost to NSAID API manufacturing. The approvals of biosimilars in Europe has added to the total NSAID API market revenue. Advancements in the production technology have enabled the production of biosimilars that are not exact copies of innovator drugs, but highly comparable regarding safety and efficacy. Europe has been the frontrunner in approving biosimilars, and the WHO has also set guidelines on similar lines of those set by the European Union. Regulatory pathways in the biosimilars space in different nations are evolving, and this implies a great market opportunity ahead for the biopharmaceutical companies.
Regionally, the market can be segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America dominated the global NSAID API market due to high demand for APIs in drug formulations and research and development programs in this region. The region is expected to continue its dominance in the coming years owing to increasing preference for generic medicines as a result of high healthcare costs in the U.S. Among other regions, Asia-Pacific is the next largest market for APIs. This region has become the most attractive market due to clustering of a large number of generic medicine manufacturers.
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Some of the players of NSAID API market include Aurobindo Pharma, Boehringer Ingelheim Group, Cambrex Corporation, Dr. Reddy’s Laboratories, Ltd., BASF SE, Hospira, Inc., Lonza Group, Mylan, Inc., Novartis AG, Pfizer, Inc., Sandoz (Novartis AG), Teva Pharmaceutical Industries Ltd., Actavis Plc, Wuxi Apptec, and Zhejiang NHU Co., Ltd. Currently, these players are focusing on partnering with other companies to acquire a new line of products to add value to their portfolio. Furthermore, companies are also anticipated to focus on expanding their capacities to cater to the vast unmet medical needs of the world.
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