The Active Pharmaceutical Ingredient Market report states that the API market size was USD 159.35 billion in 2020. The market is projected to grow from USD 174.17 billion in 2021 to USD 272.44 billion in 2028, exhibiting a CAGR of 6.6% during the forecast period. The global active pharmaceutical ingredient (API) market is expected to gain impetus from the increasing prevalence of infectious diseases and cancer. It would further surge the demand for API to develop unique drugs. The National Cancer Institute estimated that in 2018, approximately 1,735,530 new cases of cancer were diagnosed. This is likely to increase up to 23.6 million by 2030.
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Drivers & Restraints-
Rising Usage of Imported API for Developing Unique Products will Aid Growth
The Indian Brand Equity Foundation (IBEF) announced that the Indian pharmaceutical industry is anticipated to exhibit a CAGR 22.4% during 2015-2020. After India, the industry in China is considered to be the second largest. As the cases of chronic diseases are increasing rapidly day by day, there is a high demand for demand and biologics across the globe. Besides, in emerging countries, the utilization of imported API is increasing to develop highly innovative biopharmaceutical products. Several pharmaceutical companies globally are focusing mainly on research and development activities development activities to unveil state-of-the-art drugs. However, the frequent and unexpected changes in drug pricing policy, especially in the developing countries of the world may hamper the API market growth in the near future.
Segment-
Synthetic API Segment to Dominate Backed by its Low Production Cost
Based on synthesis, the market is bifurcated into biological API and synthetic API. Out of these, the synthetic API segment is expected to dominate in terms of API market share. This growth is attributable to the low production cost of chemically synthesized API. The biological API segment is anticipated to exhibit a high growth rate in the forthcoming years backed by the increasing innovations in biologics to fulfill the urgent medical needs.
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By Type
- Generic API
- Branded API
By Synthesis
- Biological API
- Synthetic API
By Geography
- North America (By Type, By Synthesis, and by Country)
- Europe (By Type, By Synthesis, and by Country/Sub-Region)
- Asia Pacific (By Type, By Synthesis, and by Country/Sub-Region)
- Rest of World (By Type, and By Synthesis)
Regional Analysis-
Presence of Numerous Pharmaceutical Companies to Favor Growth in Asia Pacific
Geographically, North America procured USD 79.80 billion revenue in 2018. This growth is attributable to the increasing prevalence of chronic diseases in this region. Coupled with this, the rising government initiatives to develop innovative drugs would also contribute to the market growth here. Asia Pacific, on the other hand, is likely to outpace Europe and North America by exhibiting a high CAGR. It would mainly occur because of the increasing number of pharmaceutical companies and contract manufacturing organizations in India and China.
List of Key Players Covered in the Market Report
- Teva Pharmaceutical Industries Ltd
- AbbVie Inc.
- Abbott
- Aurobindo Pharma
- Cipla Inc.
- Reddy’s Laboratories Ltd
- Sun Pharmaceutical Industries Ltd
- Amgen Inc.
- Biocon
- Mylan N.V.
- Others
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Chronic Diseases -2020
- New Product Launches by Key Players
- Recent Industry Developments – Partnerships, Mergers, And Acquisitions
- Therapeutic Applications of the Different Types of Active Pharmaceutical Ingredient
- Global Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Generic API
- Branded API
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America Active Pharmaceutical Ingredient Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Generic API
- Branded API
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Synthesis
- Biological API
- Synthetic API
- By Synthesis
- Canada
- By Synthesis
- Biological API
- Synthetic API
- By Synthesis
- U.S.
TOC Continued…..
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