Active Pharmaceutical Ingredient Market Growing Strong

  • Increasing incidence of chronic diseases and illnesses is the primary factor driving growth of the market.
  • Import-export policies across countries and adoption of herbal and homeopathy may hinder the market.
  • The market in Asia Pacific accounted for highest revenue share.

The global active pharmaceutical ingredient market is projected to value at approximately $1.5 billion in 2019, and is expected to register a CAGR of over 6.4%. The global active pharmaceutical ingredient market is segmented on the basis of manufacturing process, API type, drug type, therapeutic area, and region.

Global Active Pharmaceutical Ingredients Market: Introduction

Active Pharmaceutical Ingredients (API) is commonly referred as ‘Drug substance” or ‘Bulk pharmaceutical chemical’. Active ingredient is the substance which is biologically active in pharmaceutical drug. Active Pharmaceutical Ingredients (API) of good quality are core to the manufacturing of effective and safe essential drugs. Initially only limited number of large manufacturers of finished pharmaceutical products have their own API manufacturing plants. The majority of manufacturers used to buy all APIs from the open market. Some drug contains more than one active pharmaceutical ingredients. All drug contains two main components, active pharmaceutical ingredient(API) which is the main component which show the therapeutic effect and excipients which helps in delivery of medication. Excipients are chemically inactive substance such as mineral oil, act as vehicle for conveying active ingredient to target site. Active Pharmaceutical Ingredients(API) play important role in diseases prevention and treatment. For any disease, treatment is chosen on the bases of active ingredient used in it.

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Global Active Pharmaceutical Ingredients Market: Dynamics

Primary factors driving growth of the global active pharmaceutical ingredients market is increasing the incidence of chronic diseases and illnesses. Moreover, factors such as growing trend related to new high-tech therapeutics, the development of innovative and novel delivery systems, and technological advancements for manufacturing of API are some of the factors are expected to boost active pharmaceutical ingredients market globally. In addition, import-export policies across countries and Adoption of herbal and homeopathy are the major factors hinder the demand of API globally.

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Global Active Pharmaceutical Ingredients Market Analysis, by Manufacturing Process

On the basis of manufacturing process, the market is segmented into captive manufacturing and contract manufacturing. Among the manufacturing process segments in 2019, the captive manufacturing segment is estimated to account for highest revenue share in the global market. Revenue from the contract manufacturing segment is projected to expand at CAGR of over 6.4%.

Global Active Pharmaceutical Ingredients Market Analysis, by API Type

Based on API type, the global market is segmented into synthetic API and biological API. The synthetic API segment accounts for maximum share and is expected to continue to grow at the same rate over the forecast period. Among the API type segments in 2019, The biological API segment is expected to register a CAGR of over 6.8% between 2018 and 2028.

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The global active pharmaceutical ingredient market has been segmented on the basis of manufacturing process, API type, drug type, therapeutic area, and region. The manufacturing process segment includes captive manufacturing and contract manufacturing. The API type segment includes synthetic API and biological API. The drug type segment includes prescription drugs and OTC drugs. The therapeutic area segment includes communicable diseases, oncology, ophthalmology, cardiovascular diseases, diabetes, respiratory diseases, and other. The regions covered in the analysis includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

  • By Manufacturing Process: The captive manufacturing segment accounted for highest revenue share contribution as compared to other segment. The contract manufacturing segment is expected to register a CAGR of over 6.4% between 2018 and 2028.
  • By API Type: The synthetic API segment accounted for highest revenue share contribution as compared to other API type segment. The biological API segment is expected to register a CAGR of over 6.8% between 2018 and 2028.
  • By Drug Type: The prescription drugs segment accounted for highest revenue share contribution as compared to other drug type segment, and is expected to register a CAGR of over 6.3% between 2018 and 2028.
  • By Therapeutic Area: The cardiovascular diseases segment accounted for highest revenue share contribution as compared to other therapeutic area segment. The oncology segment is expected to register a CAGR of over 6.9% between 2018 and 2028.
  • By Region: The market in Asia Pacific accounted for highest revenue share in the global Active Pharmaceutical Ingredient market in 2019, and is expected to register a CAGR of over 6.6% between 2018 and 2028.

Global Active Pharmaceutical Ingredient Market: Competitive Analysis

The research report on the global active pharmaceutical ingredient market include profiles of some of major companies such Teva Pharmaceutical Industries Ltd., Merck & Co., Mylan N.V., Sanofi, Ipca Laboratories Ltd., Aurobindo Pharma, Cipla Limited, Lupin Limited, GlaxoSmithKline plc, and Novartis Pharmaceuticals Corporation.

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