Active Pharmaceutical Ingredients Market Overview
The active pharmaceutical ingredient market size could be around USD 312 Billion by 2028 at a CAGR of 6.2%, anticipates Market Research Future (MRFR). Many biologics plays a stellar role in the treatment of HIV/AIDS, cancer, Alzheimer’s disease, multiple sclerosis, and various serious illnesses. Biosimilars serve as lower-cost options, and also can create an extremely sustainable healthcare system, by ushering in innovations, thereby offering advanced care to a high number of patients. According to the report by Amgen on biosimilars in 2015, the first biosimilar was approved by the US FDA called Zarxio. Moreover, the United States (US) healthcare community has been a pioneer by taking the first step into a new reality, including the assessment of the addition of biosimilars to the specialty drug portfolio.
In addition, other factors fuelling the growth of the active pharmaceutical ingredients market include the strong impact from pharmaceutical industry, growing adoption of biological and biosimilars, coupled with rising prevalence of cancer. But strict regulatory policies across several countries could hamper the growth of the active pharmaceutical ingredients market in the coming years. With that said the presence of drug price control policies across numerous countries along with large capital investment, fierce competition between the API manufacturers and production cost could be highly instrumental in the tremendous growth of the active pharmaceutical ingredients market.
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Active Pharmaceutical Ingredients Market Segmentation
The active pharmaceutical ingredients industry, depending on manufacturing process, can be considered for captive manufacturing as well as contract manufacturing. Out of these, the captive manufacturing segment attains the lead in the worldwide active pharmaceutical ingredients market.
The types of synthesis are synthetic as well as biotech. The synthetic segment is slated to obtain the lion’s portion in the global active pharmaceutical ingredients market.
The active pharmaceutical ingredients industry, in terms of API formulation, caters to generic API as well as innovative API. The leading spot is owned by the generic API segment in the market.
Major applications of active pharmaceutical ingredients are oncology, urology, cardiovascular disease, orthopedic disorders, neurological disorders, gastrointestinal disorders, respiratory, and more.
Molecule-wise, the segments covered in the study of the active pharmaceutical ingredients market include small molecule along with large molecule.
Active Pharmaceutical Ingredients Market Regional Outlook
The American active pharmaceutical ingredients market reigns over other region, thanks to the rapid technological advances in diagnostics in conjunction with the soaring rate of various chronic diseases as well as neurological conditions.
Asia Pacific is touted as the fastest developing active pharmaceutical ingredients market, on account of the rising healthcare expenditure, burgeoning aging patient population and the rapidly emerging economies with improving medical and pharmaceutical infrastructures. India, South Korea and China are some of the prime spots for global companies who outsource their drug manufacturing activities to these countries. Japan will be advancing at a rapid pace in the region, as the demand for a variety of health products continues to mount in the country.
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Active Pharmaceutical Ingredients Market Key Players
Teva Pharmaceutical Industries Ltd (Israel), Merck & Co., Inc (US), Sanofi SA (France), Eli Lilly and Company (US), Novartis AG (UK), Abbott (US), Bayer AG (UK), Boehringer Ingelheim GmbH (UK), Pfizer Inc. (US), Hoffmann-La Roche Ltd (Switzerland), GlaxoSmithKline Plc (UK) are the top manufacturers of active pharmaceutical ingredients in the worldwide industry.
Global life sciences & nutraceutical ingredients manufacturer Suanfarma acquires Monteloeder, a developer of active botanical ingredients with use in dietary supplements, beverages, and foods. The acquisition allows Suanfarma to foster its active-nutraceuticals range, while also focusing on the development, production and commercialization of active ingredients for pharmaceutical as well as veterinary sectors.
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