Active Pharmaceutical Ingredients Market – Overview
The drugs that we use, such as tablets, injectable, syrups, and capsules) are an amalgamated combination Active Pharmaceutical Ingredients (API) and excipients. It is a chemical or a drug which is responsible for the therapeutic and pharmacological activities in the human body.
It is the most important ingredient in a drug that helps treat a disorder or a disease when administered. It is a substance that is integrated into a Finished Pharmaceutical Product (FPP).
As per Market Research Future’s in-depth analysis of the global Active Pharmaceutical Ingredient (API) market, the growth trajectory of the market is projected to remain positive with a CAGR of 4.93% over the next five years of the forecast period.
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APIs have gone on to become an integral component in the healthcare industry, primarily because of the clinical efficacy and value it offers. The development of advanced delivery systems coupled with the emergence of novel therapeutics is expected to expand the market opportunities of APIs in the forecast period.
There also lies the growing trend concerning personalized medicines which can also influence the market landscape of APIs. The other factors driving the growth of the active pharmaceutical market are increased focus towards curbing down the pricing of manufacturing and supply chain consolidation.
Competitive Analysis
The key companies identified in the global Active Pharmaceutical Ingredients Market are Merck & Co., Inc., GlaxoSmithKline Plc (GSK), F. Hoffmann-La Roche AG, Abbott Laboratories, Novartis AG, Eli Lilly and Company, Boehringer Ingelheim GmbH, Pfizer Inc., Teva Pharmaceutical Industries Ltd. Bayer AG, and Sanofi.
On Feb 2019, ProvideGx, LLC, a subsidiary company of Premier Inc. which provides healthcare improvement services, announced its collaboration with Baxter Healthcare Corporation. The move is aimed to make additional generic drugs available to counter the rising drug shortage issue in the US.
On Feb 2019, TPG Growth, a private equity firm, revealed its plans of investing $30 million in Solara Active Pharma. The funding will help support the Chennai-based drug manufacturer, Solara Active Pharma, spread its wings of expansion in the regulated markets.
Active Pharmaceutical Ingredients Market – Segmentation
The segmentation of the global Active Pharmaceutical ingredient market is based in terms of manufacturing process, application, API Formulation, type of synthesis, and molecules.
Manufacturing Basis: The market comprises of captive and contract manufacturing. The captive manufacturing segment holds the largest market share and is expected to maintain its hold in the forthcoming years.
Application Basis: The market includes neurological disorders, gastrointestinal disorders, orthopedic disorders, oncology, respiratory, urology, cardiovascular disease, and others. The oncology segment is projected to experience the fastest growth among all.
API Formulation Basis: The market covered are generic API and Innovative API. The generic API segment is the leading market player.
Type of Synthesis: The market is divided into synthetic and biotech.
Molecules Basis: The market is segmented into large molecules and small molecules.
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Detailed Regional Analysis
After an in-depth region-wise market sizing, the geographical segmentation of the global Active Ingredients Market is segmented into Asia Pacific (APAC), Europe, Middle East & Africa (MEA), and Americas.
At present, the Americas control a significant portion of the market share, and its dominance might persist in the future as well. This is massively associated with the robust value sustained by the small molecule segment across both the US and Canada. Additionally, in the Americas, the pharmaceutical industry is one of the most sought-after and major ventures.
The European and Asia-Pacific region is also anticipated to experience continued growth to further strengthen the revenue pockets of the Active Pharmaceutical ingredients market. Europe holds second place in terms of market share and is then followed by the Asia-Pacific. In the APAC region, the market’s growth direction is shaped by the heightened level of expenses on infrastructure and equipment and expanding initiatives.
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