Summary- A new market study, titled “Global Active Pharmaceutical Ingredient (API) Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023” Market Overview
Global Active Pharmaceutical Ingredient (API) Market
Active pharmaceutical ingredient (API) Market is a part of the drug that produces a pharmacological effect. Some drugs such as combination therapy have multiple active pharmaceutical ingredients (API) to treat different symptoms in different ways. API’s provide health benefits and play a vital role in prevention, treatment and diagnosis. Active Pharmaceutical ingredients may synthesize by a chemical process, biotechnological process, and various other processes. Active pharmaceutical ingredients used for making the wide range of drugs that used to treat chronic diseases such as cancer, metabolic disorders, cardiovascular disorders, and neurological disorders, and others. Some market players manufacture their own API and others buy from other API manufacturing companies to make drug formulations.
Active pharmaceutical ingredient (API) market is driven by various factors such as the increase in the incidence of chronic diseases, and penetration of healthcare systems in underdeveloped countries increased the consumption of drugs are expected to fuel the growth of API market. Furthermore, a surge in healthcare spending, development of healthcare infrastructure around the world enables boost the growth of active pharmaceutical ingredients market. However, unfavourable drug pricing policies in some countries and stringent regulatory requirements are hampering the Active Pharmaceutical Ingredient Market
API market has been segmented based on the type of synthesis, and application area
Based on type of synthesis, Active Pharmaceutical Ingredient Market is segmented into
Based on application area, Active Pharmaceutical Ingredient Market is segmented into
CNS & Neurological system
Active Pharmaceutical Ingredient Market is witnessing robust growth rate over the forecast period. Globally API market is highly fragmented with many players. Market players are banking on mergers and acquisitions to expand their manufacturing capabilities, geographical expansions and to increase the market share. In September 2015, Sun Pharmaceuticals acquired GlaxoSmithKline’s (GSK’s) opiates business in Australia, to strengthen its active pharmaceutical ingredients (API) and analgesic drug segments. In July 2014, Hospira acquired API manufacturing facility and an associated R&D facility from Orchid Chemicals & Pharmaceuticals, an Indian pharmaceuticals company. This acquisition enables Hospira to vertically integrate into the beta-lactam antibiotic APIs. Furthermore, contract API manufacturing is growing at a significant rate owing to the low cost of manufacturing. New treatments for various diseases are expected to spur the demand for active pharmaceutical ingredients (API) across the globe.
Geographically API market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts major pie in API market over the forecast period. In addition, a rise in biotechnological advances led to rising demand for the active pharmaceutical ingredients in North America region. Asia-Pacific is expected to record the fastest CAGR owing to many manufacturers and favourable government policies in the region. Europe API market is expected to grow at a significant rate during the forecast period owing to manufacturers prioritizing high-quality standards, advanced manufacturing installations, and high purity of intermediates. In Europe, Russia is expected to grow with significant CAGR in the API manufacturing market owing to recent entry of many multinational companies and change in government policies are encouraging manufacturers to enter into the market.
Some of the players in API market are Pfizer, Inc. (U.S.), Sanofi (France), Lonza Group (Switzerland), Boehringer Ingelheim (Germany), Novartis AG (Switzerland), GlaxoSmithKline plc (U.K.), Bristol-Myers Squibb (U.S.), Zhejiang Hisun Pharmaceutical Co., Ltd. (China), Aenova Group GmbH (Germany), Catalent, Inc. (U.S.), Teva Pharmaceutical Industries Ltd., (Israel) Aurobindo Pharma Limited (India), Eli Lilly and Company (U.S.), AbbVie Inc. (U.S.)., and Merck & Co., Inc. (U.S.) to name a few.
In June 2017, Bristol-Myers Squibb Company signed a definitive purchase agreement to divest its small-molecule active pharmaceutical ingredient (API) production facility in Ireland, to South Korean firm SK BIOTEK CO. LTD.
In November 2014, US-based AbbVie has acquired a small molecule active pharmaceutical ingredient (API) manufacturing site in Tuas Biomedical Park, Singapore, to expand global operations of small molecule and biologics manufacturing.
The report provides granular level information about the market size, regional market share and forecast from 2017-2023
The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
The report tracks recent innovations, key developments and startup’s details that are working in the industry
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
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