Pune, India, May 16, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s study asserts that the global active pharmaceutical ingredients (API) market has been projected to expand at a CAGR of 4.93% during the assessment period 2018 to 2023. The report reveals that the valuation of the market is estimated to reach a valuation of USD 215.12 Bn towards the end of 2023. In the recent years, drastic changes in lifestyle have been observed which has led to the large-scale prevalence of chronic diseases such as diabetes, cancer, etc. This, in turn, is prompting research & development of effective drugs which is providing impetus to market growth.
Patent expirations, especially of well-known drugs, has unleashed immense developmental opportunities into the active pharmaceutical ingredients market. This, in conjunction with the growth of contract manufacturing of API, is expected to intensify the competition in the market over the next couple of years. Additionally, the shifting focus of the pharmaceutical companies towards high potency APIs is further anticipated to favor the expansion of the market in the foreseeable future. On the contrary, the implementation of stringent policies that regulates drug pricing is projected to impede the expansion of the active pharmaceutical ingredients market in the forthcoming years.
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Key Players:
The noted players operating in the global active pharmaceutical ingredients market are Bayer AG, Pfizer Inc., Eli Lilly and Company, F. Hoffmann-La Roche AG, Boehringer Ingelheim GmbH, Sanofi, Abbott Laboratories, Novartis AG, Merck & Co., Inc., GlaxoSmithKline Plc (GSK), and Teva Pharmaceutical Industries Ltd.
Market Segmentation:
This MRFR report offers an exhaustive segmental analysis of the active pharmaceutical ingredients market based on manufacturing process, type of synthesis, API formulation, application, and molecule. By manufacturing process, the market has been bifurcated into captive manufacturing and contract manufacturing. The contract manufacturing segment is expected to exhibit a relatively steeper rise in the growth curve which is attributable to the ongoing trend of outsourcing API manufacturing.
On the basis of type of synthesis, the API market has been divided into synthetic and biotech. The biotech segment has been further sub-segmented into recombinant antibodies, monoclonal proteins, vaccine, and others. The synthetic segment, at present, has a command over the majority market share. However, the biotech segment is expected to scale a higher CAGR over the review period as it has lesser side effects.
The Active Pharmaceutical Ingredients Market, by API formulation, has been segmented into generic API and innovative API. Among these, the generic API segment is projected to retain its forefront position in the years to come reflecting a CAGR of 4.62% between 2018 and 2023.
Based on application, the API market has been segmented into cardiovascular disease, oncology, neurological disorders, orthopedic disorders, respiratory, gastrointestinal, urology, and others. The oncology segment holds the maximum share of the market on account of the rising burden of cancer. The region is anticipated to strike a CAGR of 5.48% across the projection period.
The market, by molecule, has been bifurcated into small molecule and large molecule. The small molecule segment held the lion’s share of the market in 2017. Meanwhile, the large molecule segment is likely to gain traction and surpass the small molecule segment exhibiting a higher CAGR.
Browse the market data and information spread across 80 pages with 177 data tables and 24 figures of the report “Active Pharmaceutical Ingredients Market- Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/active-pharmaceutical-ingredients-market-1385
Asia Pacific expected to expand at the highest CAGR during the forecast period
The geographical analysis of the global active pharmaceutical ingredients market encompasses Europe, Americas, Asia Pacific, and the Middle East & Africa (MEA). Americas has the largest share in the global market place owing to the presence of robust competition among global leaders in the region. The rising burden of chronic diseases in the U.S. and Canada is likely to catalyze the expansion of the regional market. The active pharmaceutical ingredients market in developed regions is on the verge of entering the phase of maturity. This, in turn, has catapulted the growth pace in Asia Pacific. The region is expected to thrive at the highest CAGR over the assessment period owing to the presence of a massive patient population.
Latest Industry News:
- Sterling Pharma Solutions, a manufacturer of active pharmaceutical ingredients (APIs), has completed the acquisition of CiVentiChem’s facility in North Carolina.
- Cambrex Corporation, a life sciences company that deals in small molecule active pharmaceutical ingredients, has opened a high-potency API facility worth USD 24 Mn in the U.S.
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