Westford, USA,, March 08, 2023 (GLOBE NEWSWIRE) -- The active pharmaceutical ingredients market in North America is growing rapidly due to several factors. One key factor is the increasing prevalence of chronic diseases, which has led to a higher demand for APIs. Additionally, the region has made significant advancements in API manufacturing, further contributing to the market's growth. The global market also benefits from favorable government policies that support API production and changes in geopolitical situations that have created new growth opportunities. The market is seeing a surge in growth due to increased drug research and development activities. With the rise in the prevalence of diseases, pharmaceutical companies are investing more in developing new drugs, which has led to a surge in demand for APIs.
Coronary artery disease (CAD) is a major public health issue leading to many yearly deaths. SkyQuest estimates that CAD is responsible for approximately 600,000 deaths annually in the United States, roughly 1 in 4. As more people are diagnosed with CAD and seek treatment, drugs will be needed to manage the disease effectively. APIs play a critical role in developing these drugs, and their importance in the pharmaceutical industry is expected to grow.
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Browse in-depth TOC on the "Active Pharmaceutical Ingredients Market"
- Pages - 248
- Tables - 59
- Figures - 70
Active Pharmaceutical Ingredients (APIs) are the biologically active components responsible for the therapeutic effects of a drug. These chemical compounds are carefully selected and formulated to ensure their safety, efficacy, and stability. In addition, the manufacture and distribution of APIs are subject to strict regulatory oversight to ensure they meet rigorous quality standards and regulatory requirements.
Prominent Players in the Active Pharmaceutical Ingredients Market
- AstraZeneca
- Novartis AG
- Cadila Pharmaceuticals
- Sumitomo Dainippon Pharma Co. Ltd.
- Johnson & Johnson Private Limited
- Abbott
- Sanofi
- Teva Pharmaceutical Industries Ltd.
- UCB S.A.
- Pfizer Inc.
- GSK Plc.
- AstraZeneca
- GSK Plc.
- Jazz Pharmaceuticals, Inc.
Cardiovascular Segment to Contribute Largest Revenue Share owing to Rising Demand for Effective and Affordable Cardiovascular Drugs
The active pharmaceutical ingredients market is expected to experience significant growth in the cardiovascular segment between 2021 and 2030. This segment is predicted to be one of the fastest-growing API markets due to the rising prevalence of cardiovascular diseases, particularly in developing countries. Cardiovascular diseases, such as stroke, coronary heart disease, and heart failure, are the leading cause of death globally, accounting for approximately 31% of all deaths. In addition, as the global population ages, cardiovascular disease prevalence is expected to rise, driving demand for new and innovative treatments.
The active pharmaceutical ingredients market is projected to experience significant growth globally, with North America expected to play a leading role by 2030. This prediction is based on several factors, including a continuous rise in the prevalence of chronic diseases and the growing demand for generic drugs. Furthermore, the United States and Canada have implemented favorable policies to support the growth of the pharmaceutical industry, such as tax incentives, streamlined regulatory processes, and the introduction of the 21st Century Cures Act.
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Synthetic API Segment Witness Higher Traction Thanks to Wide Application of Synthetic APIs in Various Therapeutic Areas
According to market research reports, the synthetic API segment is anticipated to experience significant growth between 2021 and 2030, making it the fastest-growing segment in the active pharmaceutical ingredients market. This projected growth is attributed to several factors, including the rising demand for cost-effective drugs and the increasing prevalence of chronic diseases. As the global population ages and chronic disease incidence rises, pharmaceutical companies are pressured to develop new treatments quickly and cost-effectively. Synthetic APIs offer a potential solution to this problem, as they can be produced in large quantities and at a lower cost than natural alternatives.
The active pharmaceutical ingredients market is expected to grow significantly in the Asia Pacific region by 2030. This region is projected to emerge as the fastest-growing market for APIs, driven by factors such as rising population, increasing incidence of chronic diseases, and growing demand for generic drugs. Furthermore, the Asia Pacific region is also witnessing a significant rise in the number of contract manufacturing organizations (CMOs) and contract research organizations (CROs) providing cost-effective API manufacturing solutions to pharmaceutical companies.
In the highly competitive active pharmaceutical ingredients market, companies must constantly stay abreast of industry trends and emerging opportunities to gain a competitive edge. SkyQuest's report provides valuable insights and recommendations to help businesses expand their operations and make informed decisions that can lead to success in this dynamic market. With the right strategies, businesses can overcome challenges, take advantage of emerging opportunities, and achieve sustained success.
Key Developments in the Active Pharmaceutical Ingredients Market
- Aaquaries Global Industries Limited is a reputable pharmaceutical company specializing in the research, production, and marketing of active pharmaceutical ingredients (APIs). The Company is renowned for its niche API manufacturing and supplies high-quality pharmaceutical ingredients to top formulators worldwide. In addition, Aaquaries Global Industries Limited offers a wide range of services, including APIs, custom pharmaceutical services, generics, biosimilars, and differentiated formulations. In a recent announcement, Aaquaries Global Industries Limited revealed that it would invest approximately USD 200 million in the buyout of assets and patents.
- BioNxt Solutions Inc. has announced that they have entered a definitive technology transfer and patent assignment agreement to acquire specific technology and intellectual property assets related to a new solid oral drug dosage form coating and delivery technology. The Company is thrilled to acquire this technology, enabling them to enhance its drug delivery capabilities and expand its portfolio. The agreement is a significant milestone for BioNxt Solutions Inc., and they are excited about the potential impact this technology could have on the pharmaceutical industry.
- The pharmaceutical Company has announced that the US Food and Drug Administration (USFDA) has granted final approval for Vigabatrin for Oral Solution USP, 500 mg. This medication treats certain seizures in adults and children with epilepsy. The approval signifies that the drug has passed all safety, efficacy, and quality regulatory requirements. This medication is expected to relieve many people with epilepsy in the US. In addition, the availability of Vigabatrin for Oral Solution USP, 500 mg, will allow patients to manage their condition more effectively and improve their quality of life.
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Key Questions Answered in Active Pharmaceutical Ingredients Market Report
- How do economic, political, and social factors influence the growth of different industries in the global market?
- Can you provide examples of companies successfully navigating the global market by implementing innovative strategies?
- Which regions are projected to have the most significant growth in sales and revenue in the global market, and what are the driving forces behind this growth?
- What are some of the primary challenges faced by vendors operating in the global market, and what strategies can they use to improve their market position?
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