The Worldwide Active Pharmaceutical Ingredients Market is expected to grow at a CAGR of 7.2% during forecasted period. Active Pharmaceutical Ingredient (API) is a biologically active pharmaceutical drug. API can be obtain by synthetic process or from natural sources. The global active pharmaceutical ingredients market is driven by increasing prevalence of chronic diseases, rising cancer population and adoption of the biologic and natural therapy by the people. According to WHO, approximately 14 million new cases was registered in 2012 and is expected to rise to almost 19 million by 2024. The number is increasing continuously due to increasing consumption of alcohol, poor lifestyle. Beside this technological development, increasing demand for the new and better treatment and increasing aging population are some other factors driving the growth of the market. Increasing demand for the generic drugs in developing countries like India and China has increased the demand development of new active ingredients. This two countries account nearly 80% of total generic drug sale. Stringent regulatory requirements and lack of awareness in majority of people may restrain the growth of the market.
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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: Global active pharmaceutical ingredients market is expecting a swift growth in coming future. Increasing prevalence of different chronic diseases, rising number of cancer patients and increasing governmental support for the development of the new drugs has driven the growth of the market. While high cost of R&D and strict regulatory requirement has restrain the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
International Active Pharmaceutical Ingredients Market Regional Analysis:
On regional basis, Global Active Pharmaceutical Ingredients Market is segmented into America, Europe, Asia Pacific and Middle East and Africa. America commands the largest market, majorly due to increasing prevalence of different chronic diseases and rise in the number of cancer patients. According to national cancer institute, in 2016 723,350 new cancer cases was registered in America. North America contribute a major share in America market. Besides increasing prevalence of cancer, well developed healthcare sector, increasing healthcare expenditure and adoption of biologic drugs by peoples has contributed in the growth of the market in this region.
Europe accounts the second largest market for active pharmaceutical ingredients which is followed by Asia Pacific. Asia Pacific region is expecting a fastest growth for active pharmaceutical ingredients market during forecast period from 2017-2023. Rapidly growing economies and rising awareness about the people is the major factor for the growth of the market. The majority of NSAIDs and antibiotic drugs are manufacture in India and China. Lower labor cost and availability of abundant raw materials in these countries are the key factor for the growth of API market in India and China. In addition to this, regulatory support and government encouragement to establish API manufacturing plants by favorable taxes are helping the active pharmaceutical ingredients market in Asia Pacific.
Key Players for Global Active Pharmaceutical Ingredients Market:
Teva Pharmaceutical Industries (Israel), Cipla (India), Dr. Reddy’s Laboratories (India), Novartis International AG (Switzerland), Sanofi (France), Pfizer, Inc. (US), Eli Lilly and Company (US), Aurobindo Pharma (US), Sun Pharmaceutical Industries (India), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), GlaxoSmithKline Plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US).
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Major TOC for Active Pharmaceutical Ingredients Market:
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 RESEARCH METHODOLOGY
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 MARKET DYNAMICS
3.4 Macroeconomic Indicators
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