Dallas, Texas, United states, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Global Active Pharmaceutical Ingredients Market Is projected to reach USD 248.3 billion by 2027 from USD 187.3 billion in 2020, at a CAGR of 5.8% during the forecast period.
Two central components in the making of a drug are API’s and Excipients. API is the main component from which the drug is manufactured, however the excipient is the ingredient which isn’t the drug, but acts as a medium that facilitates the body to consume the drug, such as lactose or mineral oil in a pill.
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Key Players
Some of the key players operating in Active Pharmaceutical Ingredient (API) Market are Aurobindo Pharma Limited, Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Boehringer Ingelheim International GmbH, Cipla, Inc., F. Hoffmann-La Roche AG, Pfizer Inc., Merck & Co., Teva Pharmaceutical Industries Ltd.
Impact of the COVID-19
The surge in corona cases worldwide has played an essential role in active pharmaceutical ingredient manufacturers' development over the forecast period. The administration has done a molecule-by-molecule charting of active pharmaceutical ingredients (APIs) imported from China to uplift domestic construction and imports from third party suppliers in sight of the supply chain disruptions due to the COVID-19 pandemic. Pandemic has added a further difficulty as governments worldwide decided to boycott APIs manufactured in China.
Regional Analysis
North America currently leads the market for active pharmaceutical ingredients and is anticipated to continue its stronghold for a few more years due to the growing incidences of disease and rising aging population. The European regional active pharmaceutical ingredient market is anticipated to account for a second principal market share through the forecast period. The Asia Pacific active pharmaceutical ingredient market is assessed to be the fastest encouraging region in the worldwide active pharmaceutical ingredient market because of the commonness of quickly emerging markets are developing as core hubs for outsourcing drug manufacturing.
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Key Development
In 2020, Pfizer (US) signed a multiyear agreement with Gilead Sciences to manufacture and supply Gilead’s antiviral drug (Remdesivir) for the treatment of COVID-19.
In 2020, Novartis (Switzerland) acquired Aspen’s Japanese operations to strengthen its position in the global generics and off-patent medicines market. Novartis also entered into a manufacturing and supply agreement with Aspen.
In April 2020, Boehringer Ingelheim (Germany) acquired Northern Biologics, which focuses on therapeutic antibodies targeting the tumor microenvironment. This acquisition broadened Boehringer Ingelheim’s oncology product portfolio.
Market Segmentation
By Business Mode
- Captive API
- Merchant API
By Synthesis Type
- Synthetic
- Biotech
By Type of Drug
- Generic
- Branded
By Application
- Cardiology
- Pulmonology
- Oncology
- Ophthalmology
- Neurology
- Orthopedic
- Other Applications
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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