29 April 2020
Visiongain has launched a new pharma report Active Pharmaceutical Ingredient Market Report 2020-2030: Forecasts by Synthesis (Biotech, Synthetic), by Manufacturer (Captive APIs, Merchant APIs), by API Type (Generic APIs, Innovative APIs), by Application (Cardiology, Oncology, CNS & Neurology, Orthopedic, Endocrinology, Pulmonology, Gastroenterology, Nephrology), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global Active Pharmaceutical Ingredient market is anticipated to grow at a lucrative CAGR of xxx% and anticipated to surpass USD xxx billion by 2020. The growth rate is attributed to growing biopharmaceutical sectors and rising geriatric population across the globe.
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Active pharmaceutical ingredients comprise all active portions of any drug. Thus, the reactions and results differ depending on the dosage administered by the drug. Good quality APIs are essential for producing effective and safe medicinal products. Manufacturers use certain standards to determine the potency of API in each medication.
The role of API manufacturers is evolving owing to rising pressures from competitors coupled with changing customer demands. Also, branded drug companies as compared to generic manufacturers are increasingly looking beyond their usual group of closely-knit European suppliers. Meanwhile, traditional generic companies are looking towards Asian economies for bulk active pharmaceutical ingredients. To remain competitive in the global active pharmaceutical ingredient market, the market players need to stick to evolving market trends.
Innovators have historically relied on a small number of suppliers they work with in confidence. Innovators often opt to perform the final stages of API synthesis themselves, outsourcing (at most) late-stage intermediate production. While this pattern continues to predominate, innovators have started looking beyond their current European suppliers to realize benefits from partnerships with manufacturers of Indian and Chinese APIs.
North America holds the majority of market share owing to the rising incidence of chronic diseases, growing government focus of generic drugs, rising demands for biologics & specialty drugs. Furthermore, North America depends on China and India for APIs, the COVID-19 pandemic across the Asia Pacific region has resulted in shortages due to amendments in import and export policies across the region. This is anticipated to restrain market growth over the course on the next 2 years.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to low drug penetration, rising disposable income coupled with growing healthcare expenditure in markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the Active Pharmaceutical Ingredient market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Active Pharmaceutical Ingredient market.
The comprehensive market report features companies such as Abbvie Inc., Astrazeneca, Aurobindo Pharma, Albemarle Corporation, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly and Company, F. Hoffmann-La Roche, Glaxosmithkline Plc, Merck & Co., Inc., Mylan N.V., Cipla Inc., Novartis AG, Pfizer, Inc., Sanofi, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries, Ltd., Dr. Reddy’s Laboratories Ltd. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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