(MENAFN - GetNews) The recently published Active Pharmaceutical Ingredients (API) Market Research Report says that the global API market will reach USD 215 BN registering approximately 4.93% CAGR throughout the forecast period (2015-2023).
The study includes Growth Study, Regional Analysis, Top Industry Players Formation, Major Drivers, Upcoming Trends and Forecast to 2023.
Active pharmaceutical ingredients (API) are defined as the part of any medicine that produces its effects. Unlike excipients that only help in delivering the medication to the system, APIs are the central components that are chemically active.Some medicines, such as combination therapies, have multiple active ingredients to treat different  symptoms.
Traditionally, APIs are produced by pharmaceutical companies, however, in recent years many companies prefer contract manufacturing (outsourcing of the manufacturing API) to cut costs.
The global active pharmaceutical ingredients market is quadrupling pervasively over the past few years, the reason being the burgeoning pharmaceutical industry med by the healthcare sector.
Furthermore, factors such as the growing trend towards personalized medicines, contract manufacturing, and supply chain consolidation are escalating the market on the global platform.

Top 11 Industry Players

  1. Pfizer Inc.
  2. Sanofi
  3. Bayer AG
  4. Hoffmann-La Roche AG
  5. Merck & Co., Inc.
  6. Abbott Laboratories
  7. Boehringer Ingelheim GmbH
  8. Novartis AG
  9. Eli Lilly and Company
  10. GlaxoSmithKline Plc (GSK)
  11. Teva Pharmaceutical Industries Ltd.

API Market: Growth and Analysis

The factors driving the market include the emergence of novel therapeutics and the development of advanced delivery systems. Additionally, prominent factors such as the augmenting demand for effective drugs, the rapidly growing pharmaceutical sector, and the rising demand for biological drugs attributing to its immediate effects are leading the market of APIs.
On the other hand, factors such as a weak pipeline, long gestation periods for newly-built facilities, alongside the receding tailwinds from high-value drugs revenues that indicate pressures and muted return ratios for manufacturers are restricting the market growth.
Moreover, the reluctance of manufacturers to put in adequate investments necessary for the R & D; and depleting funds coupled with growing quality compliance are presenting challenges to the market growth.
Nevertheless, the increasing demand for API is expected to support the market growth, prompting the manufacturers to pay little more attention to the R & D.

Detailed Market Segments

MRFR has segmented the analysis into six key dynamics for better understanding:
By Manufacturing Process: Captive Manufacturing and Contract Manufacturing.
By Type of Synthesis: Synthetic, and Biotech.
By API Formulation: Generic API and Innovative API.
By Application: Cardiovascular Disease, Oncology, Neurological Disorders, Orthopedic Disorders, Respiratory, Gastrointestinal Disorders, and Urology among others.
By Molecule: Small Molecule and Large Molecule.
By Regions: Europe, North America, APAC and the Rest-of-the-World.

API Market: Detailed Regional Analysis

North America dominates the global active pharmaceutical ingredients market, holding the significant market share, and the trend will probably carry on in the foreseeable future.
Factors influencing market growth include the burgeoning pharma industry, government initiatives & funding, and technological advancements in the region.
The US presently controls the significant portion in the regional market. In the US the pharmaceutical industry is among one of the significant and most exceptional ventures. The pharmaceutical organizations in the USA have developed quickly in comparison with other countries.
This factor is majorly related to the robust value sustained by the small molecule segment in both Canada and the U.S.
The European region holds the position of the world's second-largest market for active pharmaceutical ingredients following the North American market closely. This market is fostered by the resurging economy in the region that is increasing the healthcare expenses and penetration of healthcare in the region.
Additionally, huge market growth in countries like the UK, Germany & France drives the growth of the regional market on a large scale.
Furthermore, factors such as the research and development expenditure provided by the public and private associations and the increasing competition among key players are expected to foster market growth in the European region.
The Asia Pacific market for the active pharmaceutical ingredients perceives an exponential growth, emerging as one of the promising markets. Growing markets in Indian and China will lead the regional market.
Additional factors that would support the market growth in the region include the improved level of expense on equipment and infrastructure, extensive governmental initiatives in the form of favorable policies, funding, etc. motivating drug makers to increase the capacity to produce APIs.

Competitive Landscape

The fiercely competitive active pharmaceutical ingredients market appears to be fragmented due to many large and small-scale players churning the competition in the market.
Through the strategic initiatives such as partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain a competitive edge in the market.

No comments:

Post a Comment