Sarasota, FL, Aug. 03, 2016 (GLOBE NEWSWIRE) -- Zion Market Research published a new report titled “Active Pharmaceutical Ingredients Market by API Synthesis (Biotech API, Synthetic Chemical API, and HPAPI), by Type of Manufacturing (Contract Manufacturing and In-House API Manufacturing), by Type of API (Synthetic API and Biological API), by Drug Type (Branded Drugs, Generic Drugs and OTC Drugs), for Cardiology, Oncology, Anti-Inflammatory, Gastrointestinal and Other Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global demand for active pharmaceutical ingredient market was valued at USD 148.22 billion in 2015 and is expected to reach USD 213.84 billion in 2021, growing at a CAGR of 6.3% between 2016 and 2021.
Active ingredients are portion of drugs that are accountable for the helpful health impacts experienced by consumers. The active ingredient in a medicine is called an active pharmaceutical ingredient (API). The quality of active ingredients in a drug has a direct impact on the efficiency and safety of that drug. Improperly manufactured and impure active ingredients have been related with harmful health effects. Hence, most of the countries around the world are now regulating active ingredients.
Browse 48 Market Figures spread through 110 Pages and an in-depth TOC on "Active Pharmaceutical Ingredient Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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APIs are frequently referred as "bulk pharmaceuticals”. Some active pharmaceutical ingredients are unidentified and therefore need additional substances, which can work in combination with the API to generate the required medicinal effect on body. In herbal medicines, the API is generally a mixture of various substances, which act collectively on the body.
The market for API is expected to have the highest growth rate in the forecast period. Increasing prevalence of diabetes, neurological disorders and other chronic diseases are the major driving factor of the global API market. One of the key drivers of the API market is an increase in the outsourcing of active pharmaceutical ingredients manufactured by pharmaceutical companies which is done to reduce both manufacturing and infrastructure costs. Such outsourced manufacturing activities are carried out by low-cost vendors in the Asia Pacific region.
North America dominated the API market and accounted for more than 35% share of the global API market in 2015. Government approvals for the production of novel medications and increasing awareness about the intake of generic drugs have led to the growth of the API market in North America.
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Europe was one of the leading players in global API market. European active pharmaceutical ingredients (API) market held a share of around 24% of the global market. Germany and France were the largest revenue contributors in this region. European government policy strongly supports the consumption of generic drugs over branded drug, which is expected to increase the revenue of the generic drugs over the branded drugs in this region. API market in Europe is predicted to grow at moderate rate in the near future.
Asia Pacific region is expected to be the fastest developing API market owing to low working costs, contract manufacturing organizations services and high investments in biological research. In addition, the high cost of skilled labor and energy are the main issues that forced European vendors to transfer their base to countries such as India and China. The pharmaceutical drug industry of Asia Pacific is growing by leaps at present. India is now one of the leading exporters of API and supplies them to around 200 countries worldwide.
Latin America represents huge potential for API market due to rapidly expanding economies and improving healthcare sector. In 2015, Mexico was largest market in the Latin America. Brazil is expected to show noteworthy growth due to increasing aging population and strengthening healthcare systems.
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Middle East & Africa is expected to witness decent growth in coming years due to increasing prevalence of various infections and developing pharmaceutical industry in the region.
Sun Pharmaceuticals Industries Limited, Novartis International AG, BASF SE, Pfizer, Inc., Aurobindo, Albemarle Corporation, and Boehringer Ingelheim among others are some of the leading players in API market.
The report segments the global active pharmaceutical ingredient market as:
Active Pharmaceutical Ingredient Market: API Synthesis Segment Analysis
- Biotech API
- Synthetic Chemical API
- HPAPI
Active Pharmaceutical Ingredient Market: Type of Manufacturing Segment Analysis
- Contract Manufacturing
- In-House API Manufacturing
Active Pharmaceutical Ingredient Market: Type of API Segment Analysis
- Synthetic API
- Biological API
Active Pharmaceutical Ingredient Market: Drug Type Segment Analysis
- Branded Drugs
- Generic Drugs
- OTC Drugs
Active Pharmaceutical Ingredient Market: Therapeutic Application Segment Analysis
- Cardiology
- Oncology
- Anti-Inflammatory
- Gastrointestinal
- Other
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