Given the debilitating impact of COVID-19 (Coronavirus) on Active Pharmaceutical Ingredients Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Active Pharmaceutical Ingredients Market Overview
The global active pharmaceutical ingredients market is expected to exhibit a strong 4.96% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global active pharmaceutical ingredients market is expected to reach a valuation of USD 215,125.4 million by 2023, according to the MRFR report. The impact of the COVID-19 pandemic on the active pharmaceutical ingredients market is also assessed in the report.
Get a FREE Sample with Complete TOC By Considering the COVID-19 impact on Global Market @ https://www.marketresearchfuture.com/sample_request/1385
Active pharmaceutical ingredients are that part of a drug that actually have the medicinal properties that work against the specific disease. Active pharmaceutical ingredients can be acquired from a number of sources, including natural and synthetic. Some drugs may contain more than one active pharmaceutical ingredient in order to counter different diseases. The growing prevalence of chronic diseases such as COPD and coronary artery disease is likely to be a major driver for the global active pharmaceutical ingredients market over the forecast period. The growing prevalence of chronic diseases has led to increasing innovation in the pharmaceutical sector in order to counter the spread of these diseases. Active pharmaceutical ingredients have become a key target for invention and innovation in the pharmaceutical industry in recent years as a result of this. This is likely to be a major driver for the global active pharmaceutical ingredients market over the forecast period.
The growing demand for biopharmaceuticals is likely to be a major driver for the global active pharmaceutical ingredients market over the forecast period. Biopharmaceuticals are obtained from biological sources such as animals and plants. This has become a popular practice in the pharmaceutical industry due to the consumers’ perception that these ingredients are healthier and more effective than synthetic active pharmaceutical ingredients. Biopharmaceuticals are also easier on the environment, as they degrade naturally without causing any adverse effects to the environment. The growing geriatric population is also likely to be a key driver for the active pharmaceutical ingredients market. The rising demand for generic drugs is also likely to be a major driver for the global active pharmaceutical ingredients market, as the demand for active pharmaceutical ingredients in developing regions is increasing and many consumers in developing regions can’t afford branded drugs. Generics are likely to remain highly important in the global active pharmaceutical ingredients market over the forecast period.
Active Pharmaceutical Ingredients Market Competitive Leaderboard:
Leading players in the global active pharmaceutical ingredients market include Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Novartis AG, GSK plc, Boehringer Ingelheim GmbH, Merck & Co. Inc., Bayer AG, Abbott, Pfizer Inc., F. Hoffman-La Roche Ltd., and Sanofi SA.
In September 2016, Pfizer Inc. completed the acquisition of Medivation Inc., increasing the former’s portfolio for anti-infective drugs.
Active Pharmaceutical Ingredients Market Segmentation:
The global active pharmaceutical ingredients market is segmented on the basis of manufacturing process, type of synthesis, API formulation, application, molecule size, and region.
By manufacturing process, the global active pharmaceutical ingredients market is segmented into captive manufacturing and contract manufacturing. The contract manufacturing segment is likely to grow over the forecast period, as contract manufacturing has emerged as a highly profitable industry in developing regions such as Asia Pacific.
By type of synthesis, the global active pharmaceutical ingredients market is segmented into synthetic and biotech. The biotech segment is further sub-segmented into monoclonal antibodies, recombinant proteins, vaccines, and others.
By formulation, the global active pharmaceutical ingredients market is segmented into generic and branded/innovative. The generic segment is likely to grow at a high rate over the forecast period due to the growing demand for generic APIs.
By application, the global active pharmaceutical ingredients market is segmented into cardiovascular disease, oncology, neurological disorders, orthopedic disorders, respiratory conditions, gastrointestinal disorders, urology, and others. The cardiovascular and oncology segments are likely to dominate the global active pharmaceutical ingredients market over the forecast period.
By molecule size, the global active pharmaceutical ingredients market is segmented into large molecule and small molecule.
Active Pharmaceutical Ingredients Market Regional Analysis:
The Americas, led by North America, holds the highest share in the global active pharmaceutical ingredients market, followed by Europe. Asia Pacific is expected to grow at the highest rate over the forecast period.
Obtain Premium Research Report Details, Considering the impact of COVID-19 @ https://www.marketresearchfuture.com/reports/active-pharmaceutical-ingredients-market-1385
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: www.marketresearchfuture.com/reports/active-pharmaceutical-ingredients-market-1385