Apr 19, 2019 (AB Digital via COMTEX) — Active pharmaceutical ingredients or APIs are biologically active ingredients in any drug. MRFR has thoroughly studied the trends and patterns governing the global active pharmaceutical ingredients market over the forecast period of 2018-2023 in an in-depth report. MRFR has projected the active pharmaceutical market to reach USD 215.12 Bn at a positive CAGR of 4.93% by the end of 2023.
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The global API market has witnessed a bevy of innovation and improvements in recent years which has created a positive tone for the development of the market. Besides, collaboration between foreign manufacturer and local distributors have opened new avenues for the growth of the market. The increasing burden of chronic diseases has induced the need for effective drugs for the treatment of such diseases. This has generated huge demand for APIs from the pharmaceutical industry. Moreover, various blockbuster drugs going off-patent has created a business opportunity for the growth of generics, which is expected to be among the fastest growing segment in APIs. Increased interest in personalized medicine and the growing number of contract research organizations have spurred drug development activities which are fostering the growth of the market. Other factors which are accelerating the growth of the market include ongoing R&D activities in the field of APIs and a growing emphasis on the reduction of cost of manufacturing. However, the recent years have witnessed a shift in the preference towards new biologics gold rush of recombinant proteins and monoclonal antibodies which might affect the market growth adversely.
The global Active Pharmaceutical Ingredients Market has been segmented based on manufacturing process, type of synthesis, API formulation, application, and molecule.
By manufacturing process, the global active pharmaceutical ingredients market has been segmented into captive manufacturing and contract manufacturing. The prevalent of outsourcing API manufacturing is aiding the growth of the contract manufacturing segment.
By type of synthesis, the global active pharmaceutical ingredients market has been segmented into synthetic and biotech. The synthetic segment is leading the market.
The biotech segment has been further segmented into monoclonal antibodies, recombinant proteins, vaccines, and others. The monoclonal segment is the largest segment while the recombinant segment is expected to showcase rapid growth over the forecast period.
By API formulation, the global active pharmaceutical ingredients market has been segmented into generic API and innovative API. The generic API segment is expected to strike a CAGR of 4.62% over the forecast period due to patient expirations.
By application, the global active pharmaceutical ingredients market has been segmented into cardiovascular disease, oncology, neurological disorders, orthopedic disorders, respiratory, gastrointestinal, urology, and others. The oncology segment is the largest segment which is expected to register a CAGR of 5.48% over the forecast period.
By molecule, the global active pharmaceutical ingredients market has been segmented into small molecule and large molecule. The small molecule segment accounts for the larger share of the market while the large molecule segment is expected to exhibit rapid growth over the forecast period.
By region, the global active pharmaceutical ingredients market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The maximum share of the global active pharmaceutical market is held by the Americas. The small molecule APIs segment is scoring well in the region, especially in the US and Canada. A well-performing pharmaceutical industry in the US also acts a plus for the growth of the market.
The key players in the global active pharmaceutical ingredients market include Teva Pharmaceutical Industries Ltd., Pfizer Inc., F. Hoffmann-La Roche AG, Novartis AG, Merck & Co., Inc., Boehringer Ingelheim GmbH, Bayer AG, Eli Lilly and Company, Abbott Laboratories, GlaxoSmithKline Plc (GSK), Sanofi, and others.
April 2019 – Cambrex Corporation, a leading provider of small molecule active pharmaceutical ingredients, is expanding its production capacity of API manufacturing. An investment of USD 24 Mn has been invested for the same.
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