25-April-2019: The global active
pharmaceutical ingredient (API) market size is expected to reach at USD 268.12
billion by 2026 registering a CAGR of 6.8%, according to a new report by Grand
View Research, Inc. Rising trend of outsourcing APIs and growing prevalence of
various target diseases, such as cancer, Cardiovascular Disease (CVDs) are
anticipated to boost the market. Huge capital is required in API production as
the process needs extremely systematic protocols. Pharmaceutical companies can
actually benefit from outsourcing API production, as it eliminates the need for
installing expensive manufacturing units. Moreover, strategic outsourcing
enables companies to focus on their core competencies, ultimately resulting in
increased productivity. These factors are also estimated to drive the demand in
future.
Growing geriatric population
across the globe is also likely to contribute to the market expansion.
Estimates published by the WHO suggest that the global base of population
pertaining to the age group of 65 years and above is expected to rise from 7%
in 2000 to 16% in 2050. Latin America, in particular, is projected to witness
fastest growth, in terms of geriatric population, followed by Asia (66%),
Africa (64%), North America (41%), and Europe (23%). Patent expiration of
blockbuster drugs, growing outsourcing activities due to high manufacturing
costs, and stringent regulations for API production are expected to intensify
the market competition. As part of strategic geographic expansion, many
companies are setting up manufacturing plants in the developing regions like
Asia Pacific.
In
depth research report on Active Pharmaceutical Ingredient (API) Market
Further
key findings from the study suggest:
· Synthetic
APIs held the largest share of the API market in 2018 owing to easy
availability of raw materials and easier protocols for synthesis of these
molecules
· Biotech
APIs are estimated to register the highest CAGR over the forecast years due to
rising demand for biopharmaceuticals and higher efficiency of these molecules
· Captive
manufacturers led the market owing to intensive capitalization of major key
players in development of high-end manufacturing facilities
· Merchant
manufacturers segment is expected to be the fastest-growing segment over the
forecast period
· Generic
APIs are expected to register a lucrative CAGR over the forecast period on
account of factors, such as expiration of patents of branded drugs and lower
cost
· Cardiology
segment led the overall market in 2018. Increasing prevalence of target
diseases worldwide and high demand for fast-acting drugs are some of the key
factors responsible for the segment growth
· North
America held the largest market share in 2018. Asia Pacific is estimated to be
the fastest-growing region expanding at a CAGR of 8.2% over the estimated
period
· Some of
the major companies in the market are Teva Pharmaceutical Industries Ltd.;
AbbVie Inc.; Boehringer Ingelheim International GmbH; Cipla Inc.; Merck &
Co., Inc.; Bristol-Myers Squibb Company; Albemarle Corporation; Mylan N.V.;
Aurobindo Pharma; Sun Pharmaceutical Industries Ltd.; and Dr. Reddy’s
Laboratories Ltd.
Grand View Research has
segmented the global Active Pharmaceutical Ingredient (API) market on the basis
of type of synthesis, type of manufacturer, type, application, and region:
API
Type of Synthesis Outlook (Revenue, USD Billion, 2014 - 2026)
· Biotech
· Monoclonal
Antibodies
· Recombinant
Proteins
· Vaccines
· Synthetic
API
Type of Manufacturer Outlook (Revenue, USD Billion, 2014 - 2026)
· Captive
· Merchant
API
Type Outlook (Revenue, USD Billion, 2014 - 2026)
· Generic
· Innovative
API
Application Outlook (Revenue, USD Billion, 2014 - 2026)
· Cardiology
· Generic
· Innovative
· Oncology
· Generic
· Innovative
· CNS
& Neurology
· Generic
· Innovative
· Orthopedic
· Generic
· Innovative
· Endocrinology
· Generic
· Innovative
· Pulmonology
· Generic
· Innovative
· Gastroenterology
· Generic
· Innovative
· Nephrology
· Generic
· Innovative
· Ophthalmology
· Generic
· Innovative
· Others
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment