Global Active
Pharmaceutical Ingredient (API) Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
Industry Insights
The global Active
Pharmaceutical Ingredient (API) market size was worth at USD 134.2 billion in
the year 2015 which is anticipated to reach a value of USD 239.8 billion by
2025, with CAGR of 6.0%. Rising prevalence of chronic diseases such as
neurological diseases, cardiovascular diseases, can lead to the growth.
The key drivers can be the
rising demand of efficient and rapid acting drugs and introduction of
innovative drug production facility. Major key players are choosing for
outsourcing the product from the developing regions such as India, Brazil and
China, which also anticipated to drive the market.
In addition, pharmaceutical
companies face tremendous loss in terms of revenue owing to the patent
expiration of blockbuster drugs. Expiration of patent results in increasing
focus for development of generic versions of the molecules. The R&D
investment of the company are no longer valuable after patent expiration. Thus,
the API outsourcing trend in rising.
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Manufacturer Type Insights
Based on the type of manufacturer,
it is categorized into outsourced or merchant or in-house or captive APIs.
According to market estimates, in 2015, in-house APIs was the largest segment
and outsourced APIs are anticipated to be the fastest growing market.
All pharmaceutical
companies does not have separate unit for the formulation of API. This has led
to rise in the outsourcing of the molecules from the production sites. The need
of investment in expensive production processes is eliminated by the
outsourcing.
Type Insights
Based on the type, APIs are
classified into innovative and generics. Branded products come under innovative
type, whereas the generic drugs are the ones, which are available OTC (over the
counter). Owing of high rate of prescription, high drug development
initiatives, and high price, the innovative APIs segment dominated in 2015.
Generic segment is
anticipated to be fastest-growing type, due to expirations of patents of
various blockbuster drugs. Patent expirations of branded drugs have very
serious negative impacts on the drug producers, as the companies face the
tremendous loss after expiration. Hence the drug manufacturers prefer more
generic drugs than the branded ones.
Application Insights
Cancer, neurological
disorders & CNS, endocrinal disorders and cardiovascular diseases are some
of the major applications of the API. In 2015, CVD (cardiovascular diseases)
dominated the market owing to its high rate of prevalence and high product
availability. CVD has been reported as the major cause of death in the U.S
since many years.
In addition, oncology is
expected to be the fastest-growing segment and is estimated to witness the CAGR
of 7% owing to high number of products waiting approval. Moreover, increasing
prevalence of cancer worldwide is anticipated to further boost market.
Regional Insights
In 2015, API market was
dominated by the North America and is anticipated to retain its position in
upcoming years owing to encouraging government initiatives for generic drug
usage, rising R&D expenditure, and technological advancements in the drug
manufacturing practices.
Asia Pacific is anticipated
to be the region with fastest growth owing to the increasing availability of
cheap and affordable labour. Hence, key major companies are setting up their
API production plants in developing countries of Asia Pacific such as China and
India.
Competitive Insights
One of the key
manufacturers of the API (Active pharmaceutical ingredients) is Teva
Pharmaceuticals Ltd. Some of the additional key players in this industry
includes Boehringer Ingelheim GmbH, AbbVie, Inc., Merck & Co., Inc. and
Cipla, Inc., New molecule launches, collaborations, acquisitions, and regional
expansions are some strategic initiatives taken by these Key players to retain
their position.
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