Global active pharmaceutical ingredients (API) market is registering a substantial CAGR of 7.17 % in the forecast period of 2020-2026. Active pharmaceutical ingredient (API) is the component of any drug that generates its effect. Some drugs, such as combination therapy, have various effective components to cure distinct diseases or to behave in distinct respects.
Key Market Competitors:
Few of the major market competitors currently working in the global active pharmaceutical ingredients (API) market are Pfizer Inc., Novartis AG, Sanofi, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company., GlaxoSmithKline plc., Merck Sharp & Dohme Corp., AbbVie Inc., AstraZeneca, Aurobindo Pharma, BASF SE, Dr. Reddy’s Laboratories Ltd., LUPIN., Mylan N.V., Sun Pharmaceutical Industries Ltd, Piramal Pharma Solutions, Sandoz International GmbH, Saneca Pharmaceuticals a. s and others.
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Generally, the pharmaceutical companies themselves have produced APIs in their respective nations. But in latest years, many corporations have chosen to ship manufacturing abroad to reduce expenses. This has led to important modifications in the way these drugs are controlled, with more strict guidance and checks in location.
Segmentation: Global Active Pharmaceutical Ingredients (API) Market
- By Type (Innovative Active Pharmaceutical Ingredients, Generic Active Pharmaceutical Ingredients)
- By Type of Manufacturer (Captive API Manufacturers, Merchant API Manufacturers)
- By Type of Synthesis (Synthetic Active Pharmaceutical Ingredients, Biotech Active Pharmaceutical Ingredients)
- By Type of Drug (Prescription Drugs, Over-The-Counter Drugs)
- By Therapeutic Application (Communicable Diseases, Oncology, Pain Management, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Other Therapeutic Applications)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis:
Global active pharmaceutical ingredients (API) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of active pharmaceutical ingredients (API) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers
- Increased occurrence of chronic diseases is driving the growth of the market
- Technology advances in API Manufacturing is propelling the growth of the market
- Increasing generic significance is boosting the growth of the market
- Increasing implementation of artificial intelligence-based drug discovery instruments is contributing to the growth of the market
Market Restraints
- Drug costs monitoring strategies throughout countries is hampering the growth of the market
- Strong rivalry among manufacturers of the API is hindering the growth of the market
- Growing development of anti-counterfeit drugs is restricting the growth of the market
Reasons to Purchase this Report
- Current and future of global active pharmaceutical ingredients (API) market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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