APIs are important for the quality of pharmaceutical products. As such, it is crucial to select the right APIs to protect your health. There are a variety of good options available for sourcing APIs from overseas. A large number of companies are based in India. The majority of APIs originate from Asian countries, and the bulk of the world’s APIs are manufactured in Asia. Aside from being a major source of APIs, you can also find them in wholesalers and importers.
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APIs are used in all types of pharmaceutical products. These include prescription drugs and over-the-counter drugs. Moreover, APIs are also used in cosmetic products. The FDA’s regulations for APIs for cosmetics and consumer health products are the same as for pharmaceuticals. If a manufacturer fails to follow the regulations, they may face severe consequences. To avoid this, the Canadian government is developing new guidelines for the manufacturing of these active pharmaceutical ingredients.
The India active pharmaceutical ingredients market is estimated to be valued at US$ 19,993.2 million in 2021 and is expected to exhibit a CAGR of 8.3% during the forecast period (2021-2028).
Increasing demand for APIs is expected to propel growth of India active pharmaceutical ingredients market. For example, Hikal Ltd, in May 2021, signed a 10-year deal with a global pharmaceutical company for development and supply of a portfolio of niche APIs.
Moreover, increasing production of generic drugs is also expected to propel growth of India active pharmaceutical ingredients market over the forecast period. For instance, India was the largest producer of generic medicines, which supplied 50% of vaccines and 40% of drugs to the U.S. and 25% of drugs to the U.K., according to the India Brand Equity Foundation’s August 2021 report.
Expansion of production capacities is expected to offer lucrative growth opportunities for players in India active pharmaceutical ingredients market. For instance, in May 2020, Granules India Ltd. increased its capacity to manufacture paracetamol API by 1,800 tons per month and 22,000 tons annually. Similarly, Sri Krishna Pharmaceuticals increased its installed capacity of producing paracetamol to 12,000 million tons annually.
Moreover, increasing investment in R&D is also expected to offer lucrative growth opportunities for players in India active pharmaceutical ingredients market. For example, investment of Indian pharmaceutical companies in R&D increased (in term of sales) from 5.3% to 8.5% during 2012 to 2018, according to the India Brand Equity Foundation.
Increasing initiatives taken by the state governments to establish active pharmaceutical manufacturing plants is expected to boost the active pharmaceutical ingredient market growth during the forecast period.
Government initiatives to boost production of APIs is expected to propel growth of India active pharmaceutical ingredient market. For example, government of Haryana, in June 2020, announced plan to establish bulk drug/API Park in Panipat, Haryana.
Covid-19 Impact Analysis
As most API manufacturers are based in China and India, the global supply has been impacted significantly due to the COVID-19 outbreak in these countries. For instance, total API demand from the U.S. biopharmaceutical companies is fulfilled by 230 API manufacturing facilities in China (13% of total supply facilities), 510 in the U.S. (28%), and remaining 59% or 1,048 facilities other countries, according to the U.S. Food and Drug Administration.
The emergence of Covid-19 is has led to R&D of new drugs for the treatment of the infection. In June 2020, Glenmark Pharmaceuticals launched Favipiravir for the treatment of mild to moderate COVID-19 patients.
Major players operating in India active pharmaceutical ingredient market, include Aurobindo Pharma Limited, ASolution Pharmaceuticals Pvt. Ltd., Aarti Drugs Ltd., Century Pharmaceuticals Ltd., Chiral Drugs Pvt Ltd., Divi’s Laboratories Ltd., Hikal Ltd., Neuland Labs, Proventus Life Sciences Pvt Ltd, Dr. Reddy’s Laboratories, Lupin Limited, Sun Pharmaceutical Industries Limited, Solara, Teva Pharmaceutical Industries Ltd., and USV Private Limited.
Major players operating in India active pharmaceutical ingredient market are focused on adopting partnership strategies to enhance their market share. For example, AstraZeneca, in January 2018, partnered with Sun Pharmaceutical Industries, India, to promote and distribute AstraZeneca Pharma’s Axcer drug in India for the treatment of acute coronary syndrome.
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Reasons to buy this India Active Pharmaceutical Ingredients Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ India Active Pharmaceutical Ingredients market size estimation and recent advancements in the industry are explained.
The Study Objectives are:
✔ A comprehensive insight into key players operating in the India Active Pharmaceutical Ingredients Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 India Active Pharmaceutical Ingredients Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: India Active Pharmaceutical Ingredients Industry Impact
Chapter 2 India Active Pharmaceutical Ingredients Competition by Types, Applications, and Top Regions and Countries
2.1 India Active Pharmaceutical Ingredients (Volume and Value) by Type
2.3 India Active Pharmaceutical Ingredients (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 India Active Pharmaceutical Ingredients Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 Company Profiles and Key Figures in India Active Pharmaceutical Ingredients Business
Chapter 6 India Active Pharmaceutical Ingredients Market Forecast (2022-2028)
Chapter 7 Conclusions
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