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 the demand for low-cost substitutes across the globe resulting in a boost to active pharmaceutical ingredient (API) manufacturing. The approvals of biosimilars in Europe has added to the total API market revenue, and the recent approval of Novartis’ filgrastim biosimilar in the U.S. is expected to continue the upward trend in this market. The overall global active pharmaceutical ingredients market was valued at USD 119.7 billion in 2013 and is anticipated to reach USD 185.9 billion by 2020, expanding at a CAGR of 6.5% during the forecast period from 2014 to 2020.
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The global active pharmaceutical ingredients market is segmented on the basis of type of API manufacturing into captive (or in-house) and contract manufacturing. APIs are manufactured either in-house by the innovator/formulator company, or outsourced to contract manufacturing organizations. Over the years, the captive API manufacturing segment is witnessing a continuous decline in the global API market due to 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 active pharmaceutical ingredients market has also been analyzed on the basis of type of API (synthetic chemical API and biological API). Of these, the biological API segment is witnessing high traction due to large pharmaceutical companies focusing on this segment and high profit margins for formulator companies, even after loss of patent protection for the drug. In addition, the market analysis also covers segmentation on the basis of type of drug, such as branded or innovative prescription drugs, generic prescription drugs, and over-the-counter drugs. The demand for active pharmaceutical ingredients in the global market is expected to augment largely due to volume rise in generic prescription drugs worldwide.
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The global active pharmaceutical ingredients market has also been segmented on the basis of therapeutic areas into major segments namely, NSAIDs, oncology drugs, diabetes drugs, cardiovascular drugs, central nervous system drugs, musculoskeletal drugs, and other drugs (such as antibacterial, antiviral, antifungal drugs, etc.). The oncology APIs segment is expected to be the major growth driver of global API market, as most of the drugs in this segment contain High Potency Active Pharmaceutical Ingredients (HPAPIs) which itself is a rapidly growing segment in the global API market. Moreover, the market for select NSAIDs (paracetamol, ibuprofen, aspirin, and naproxen) has also been analyzed in detail this report.
Geographically, the global active pharmaceutical ingredients market has been segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World. North America dominated the global API market due to high demand for APIs in drug formulations and research and development programs in the 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 was the next largest market for APIs. This geography has become the most attractive market due to clustering of large number of generic medicine manufacturers.
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Key API manufacturing companies studied in the report include Boehringer Ingelheim Group, Cambrex Corporation, Dr. Reddy’s Laboratories, Ltd., BASF SE, Hospira, Inc., Lonza Group, Mylan, Inc., Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Actavis plc, and Wuxi Apptec.
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