Pune, July 09, 2020 (GLOBE NEWSWIRE) -- The global active pharmaceutical ingredient market is expected to gain impetus from the increasing prevalence of infectious diseases and cancer. It would further surge the demand for API to develop unique drugs. The National Cancer Institute estimated that in 2018, approximately 1,735,530 new cases of cancer were diagnosed. This is likely to increase up to 23.6 million by 2030. Fortune Business Insights™ published this information in a recently published report, titled, “Active pharmaceutical ingredient market Size, Share & Industry Analysis, By Type (Generic API, and Branded API), By Synthesis (Biological API, and Synthetic API), and Regional Forecast, 2019-2026.” The report further states that the API market size was USD 164.20 billion in 2018 and is projected to reach USD 261.28 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period.
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This Report Answers the Following Questions:
- Which company would remain on top in the coming years?
- Which segment is expected to dominate in the near future?
- What are the challenges and opportunities in the market?
- How will companies surge sales of API amidst COVID-19 pandemic?
Drivers & Restraints-
Rising Usage of Imported API for Developing Unique Products will Aid Growth
The Indian Brand Equity Foundation (IBEF) announced that the Indian pharmaceutical industry is anticipated to exhibit a CAGR 22.4% during 2015-2020. After India, the industry in China is considered to be the second largest. As the cases of chronic diseases are increasing rapidly day by day, there is a high demand for demand and biologics across the globe. Besides, in emerging countries, the utilization of imported API is increasing to develop highly innovative biopharmaceutical products. Several pharmaceutical companies globally are focusing mainly on research and development activities development activities to unveil state-of-the-art drugs. However, the frequent and unexpected changes in drug pricing policy, especially in the developing countries of the world may hamper the active pharmaceutical ingredient market growth in the near future.
The outbreak of the COVID-19 pandemic has created huge losses for a large number of companies. Most of them have either halted their operations or have reduced their workforce to maintain social distancing. Our reports would offer elaborate data about the effects of the pandemic on every market. You can opt for the strategy applicable to intensify competition.
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Segment-
Synthetic API Segment to Dominate Backed by its Low Production Cost
Based on synthesis, the active pharmaceutical ingredient market is bifurcated into biological API and synthetic API. Out of these, the synthetic API segment is expected to dominate in terms of API market share. This growth is attributable to the low production cost of chemically synthesized API. The biological API segment is anticipated to exhibit a high growth rate in the forthcoming years backed by the increasing innovations in biologics to fulfill the urgent medical needs.
Regional Analysis-
Presence of Numerous Pharmaceutical Companies to Favor Growth in Asia Pacific
Geographically, North America procured USD 79.80 billion revenue in 2018. This growth is attributable to the increasing prevalence of chronic diseases in this region. Coupled with this, the rising government initiatives to develop innovative drugs would also contribute to the market growth here. Asia Pacific, on the other hand, is likely to outpace Europe and North America by exhibiting a high CAGR. It would mainly occur because of the increasing number of pharmaceutical companies and contract manufacturing organizations in India and China.
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Competitive Landscape-
Key Players Focus on Developing New Drugs to Cure Chronic Disorders
The market houses a large number of API manufacturers, such as Mylan, Teva, AbbVie, and others. They possess a diversified product portfolio and wide networks across the globe. Most of them are nowadays focusing on developing new drugs to cure cancer and other related diseases. Below are two of the latest industry developments:
- February 2020: Sanofi declared its plans to develop a standalone organization that would be integrated with the former’s six European API production sites.
- January 2018: Pfizer partnered up with Sangamo Therapeutics, Inc. to co-develop a potential gene therapy for treating amyotrophic lateral sclerosis (ALS).
Fortune Business Insights™ presents a list of all the API manufacturers operating in the global market. They are as follows:
- Teva Pharmaceutical Industries Ltd
- AbbVie Inc.
- Abbott
- Aurobindo Pharma
- Cipla Inc.
- Dr. Reddy’s Laboratories Ltd
- Sun Pharmaceutical Industries Ltd
- Amgen Inc.
- Biocon
- Mylan N.V.
- Others
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Chronic Diseases -2018
- New Product Launches by Key Players
- Recent Industry Developments- Partnerships, Mergers, And Acquisitions
- Therapeutic Applications of the Different Types of Active Pharmaceutical Ingredients
- Global Active Pharmaceutical Ingredients (API) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Generic API
- Branded API
- Market Analysis, Insights and Forecast – By Synthesis
- Biological API
- Synthetic API
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
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