Technological Advancements in API Manufacturing is Expected to Provide Significant Opportunity to Active Pharmaceutical Ingredient Market Players
- Himanshu Patni
- June 4, 2022
- HEALTHCARE, NEWS
- Active Pharmaceutical Ingredient Market, Active Pharmaceutical Ingredient Market growth, Active Pharmaceutical Ingredient Market share, Active Pharmaceutical Ingredient Market size
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Global Active Pharmaceutical Ingredient Market is expected to witness a CAGR of around 6% during the forecast period. The active pharmaceutical ingredient (API) is the part of any drug that produces the intended effects. Some drugs have multiple active pharmaceutical ingredients. The rising prevalence of the various diseases coupled with the COVID-19 pandemic is expected to drive the market for active pharmaceutical ingredients. Furthermore, the surging investments in research and development of targeted, specific drug, and pharmacogenetic drugs is also expected to support market growth. Worldwide, the increase in chronic diseases results in an increased demand for the treatment and has positive impacts on the market of drug manufacturing. For instance, Istodax, a drug registered by Celgene Co. in 2009 for cancer (Cutaneous T-Cell Lymphoma) witnessed a 30% growth in 2018 compared with 2010 which accounted for US$ 16 million in 2010 and reached US$63 million in 2018.
For a detailed analysis of the synthesis in the API market browse through – https://univdatos.com/report/active-pharmaceutical-ingredient-market/
Based on synthesis, the market is bifurcated into biotech and synthetic. In the forecast period, the biotech segment is expected to witness significant growth. This is mainly due to the rising focus on increasing the accuracy of biopharmaceutical drugs along with the surging investments in biotechnology research is driving the market. Furthermore, these drugs also provide patient-specific treatments which increase the efficiency of the drug with minimal side effects.
On the basis of manufacturer type, the market is categorized into merchant APIs and captive APIs. Among the two, the captive API is expected to witness significant growth during the forecast period. This can be attributed to the improved marketing strategies along with the increased connectivity coupled with innovations in the manufacturing sector. Furthermore, the increasing government investments in pharmaceutical industries in developing countries such as India, China, Brazil, and Mexico also contribute to the growth of captive APIs.
Based on drug type, the active pharmaceutical ingredient market has been bifurcated into generic APIs and innovative APIs. Amongst them, the market for innovative APIs is expected to grow at a significant rate during the forecast period. The rising prevalence of novel diseases and increasing demand for the more targeted and effective drugs for the treatment of various chronic diseases is expected to drive the market.
For a detailed analysis of the drug type in the active pharmaceutical ingredient market browse through – https://univdatos.com/report/active-pharmaceutical-ingredient-market/
On the basis of application, the market is categorized into communicable diseases, oncology, diabetes, cardiovascular diseases (CVDs), pain management, respiratory diseases, and others. Among them, the cardiovascular segment dominated the market in 2020 due to the increasing prevalence of cardiovascular disorders and increasing awareness about the severity of heart diseases. However, the oncology segment is expected to witness growth in the foreseeable future. The sedentary lifestyle, increase cases of alcohol and tobacco abuse, and increasing pollution are some key factors responsible for the rising cases of chronic diseases such as cancer and diabetes across the world. Thus, need for effective treatment and drugs is expected to drive the API market during the forecast period.
For a better understanding of the market adoption of the Active Pharmaceutical Ingredient Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of World. During the forecast period, North America is expected to witness the highest CAGR during the forecast period. In addition, the higher geriatric population coupled with the rising number of patients with chronic diseases offer immense opportunities for market players to develop APIs. Furthermore, increasing investment in the biotechnology and biopharmaceutical industry along with rising healthcare expenditure in the region are some other major factors driving the North American API market.
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Some of the major players operating in the market include Merck & Co., Inc., AbbVie, Inc., Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Cipla, Inc., Teva Pharmaceutical Industries Ltd., Albemarle Corporation, Viatris Inc., Aurobindo Pharma, Sun Pharmaceutical Industries Ltd., and Dr. Reddy’s Laboratories Ltd.
Active Pharmaceutical Ingredient Market Segmentation
Market Insight, by Synthesis
Market Insight, by Manufacturing Type
• Captive APIs
• Merchant APIs
Market Insight, by Drug Type
- Generic APIs
- Innovative APIs
Market Insight, by Application
• Communicable Diseases
• Cardiovascular Diseases (CVDs)
• Pain Management
• Respiratory Diseases
Market Insight, by Region
- North America Active Pharmaceutical Ingredient Market
- United States
- Rest of North America
- Europe Active Pharmaceutical Ingredient Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Active Pharmaceutical Ingredient Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Active Pharmaceutical Ingredient Market
Top Company Profiles
- Cardiovascular Diseases
- Central Nervous System and Neurology