According to a new market report published by Persistence Market Research “Active Pharmaceutical Ingredient (API) Market” the global active pharmaceutical ingredient market was valued at US$ 127 Bn in 2014 and is estimated to reach US$ 186 Bn by 2020 at a CAGR of 6.6% from 2015 to 2020.
North America accounted for the largest segment in the global active pharmaceutical ingredients market in 2014 due to fact that North America is the leading consumer of APIs and API exporters consider North America as the most lucrative market. India and China are the major suppliers of APIs to North America due to low production and labor costs. Moreover, biologics have become one of the top-selling drugs in North America. Thus, the expected market entry of biosimilars with flexible regulatory process would boost the API market in North America. The API market in the U.S. displays high level of competition, with mergers and collaborations between various key players such as Teva Pharmaceutical Industries Ltd., Sandoz (Novartis AG), Mylan, Inc., and Allergen plc.
Asia Pacific ranks second due to the factors such as availability of low cost production facilities and cheap labor in countries such as India and China. The cost difference ranges from 30% to 60% if the drugs are manufactured in China or India compared to other countries. Hence, China and India are expected to witness significant growth in the near future due to increase in production capacities and presence of large number of global and domestic players… Thus, Asia-Pacific is the most competitive market in API and the competition is expected to intensify between India and China, as these are the most attractive destinations for pharmaceutical manufacturing.
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In Europe pharmacists are offered incentives for substituting branded drugs with generic versions, which contributes to the growth of the API market in the region. Regulations also play a vital role in the API market, as the law disallows development of generic APIs in Europe until patent expiry. However, the governments of various countries in Europe have started supporting the manufacture of generic drugs post the financial crisis. Patent expirations of major blockbuster drugs in Europe during the forecast period would fuel the growth of the API market in the near future.
Teva Pharmaceutical Industries Ltd dominated active pharmaceutical ingredients market in 2014. Major factors attributed to its dominance are broad product portfolio and high market penetration. Zhejiang Medicine Co., Ltd. and Zhejiang NHU Co., Ltd secured the second market position in 2015. North China Pharmaceutical Group Corp. (NCPC) and Northeast Pharmaceutical Group Co., Ltd. held the third position in 2015. Other players in the active pharmaceutical ingredients market include Dr.Reddy’s Laboratories Limited, Sandoz (Novartis AG), Aurobindo Pharma Limited, Zhejiang Hisun Pharmaceutical Co., Ltd. and Zhejiang Huahai Pharmaceuticals Co., Ltd. and others
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Demand for generic drugs is increasing not only in developed countries, but also in developing and underdeveloped countries in South America and Africa. Brazil’s health authority Agência Nacional de Vigilância Sanitária (ANVISA) allows the procurement or manufacturing of APIs only for companies registered with ANVISA. Moreover, foreign companies find it difficult to enter the generics market in Brazil, as nearly 80% of the market is controlled by the four local companies namely, EMS, Medley, Eurofarma and Ache/Biosintetica.
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