Pune, Oct. 20, 2020 (GLOBE NEWSWIRE) -- The global active pharmaceutical ingredients market size is set to gain impetus from the rising implementation of strict norms and regulations in several countries regarding the production of high-quality API. It is further aiding in upsurging the overhead costs of in-house API manufacturing. The report further mentions that the Active Pharmaceutical Ingredients Market size stood at 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.
Key Players Focus on Developing Various APIs to Boost Sales
The market includes many contract manufacturing organizations that are mainly aiming to develop biological APIs. Companies located mainly in Asia Pacific are focusing on creating generic APIs. But, key players situated in North America and Europe are moving towards the development of biological API. Below are a couple of the recent industry developments:
- January 2020: Astellas Pharma Inc. developed its brand new API manufacturing facility for a first-line immunosuppressant called Prograf. It will be used for organ transplantation.
- June 2016: AbbVie Inc. widened its small molecule API facility located in Singapore to strengthen its position in women’s health and oncology sectors.
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High Demand for Novel Drugs to Boost Growth
The Indian Brand Equity Foundation (IBEF) mentioned that during 2015 to 2020, the pharmaceutical industry of India is set to exhibit a considerable CAGR of 22.4%. As per one of our lead analysts, “The incidence of chronic diseases is surging at a fast pace worldwide backed by the rising geriatric population.
Rapid urbanization, as well as increasing adoption of sedentary lifestyle would also contribute to the growth.” Apart from that, there is an alarming rise in the number of new cases of chronic diseases. It is therefore, skyrocketing the demand for state-of-the-art drugs.
High demand for biosimilars and biologics would hence, propel the active pharmaceutical ingredient market growth in the coming years. However, changes in price policies in the developing nations may hamper growth.
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Presence of Many Contract Manufacturing Organizations to Favor Growth in Asia Pacific
In terms of region, the market is divided into Asia Pacific, Europe, Latin America, the Middle East and Africa, and North America. Amongst these, in 2018, North America procured USD 79.80 billion Active Pharmaceutical Ingredients Market revenue.
This growth is attributable to the rising government initiatives to develop unique drugs, as well as the rising prevalence of chronic diseases in this region.
Asia Pacific, on the other hand, is expected to outpace Europe and North America in the near future because of the rising number of pharmaceutical industries and contract manufacturing organizations present in the developing countries, such as India and China.
Owing to the availability of raw material in abundance and lower labour cost, these countries have started becoming major venues for outsourcing API manufacturing.
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List of all the companies operating in the active pharmaceutical ingredients market. They are as follows:
- Aurobindo Pharma
- Teva Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Mylan N.V.
- AbbVie Inc.
- Sun Pharmaceutical Industries Ltd.
- Abbott
- Biocon
- Cipla Inc.
- Amgen Inc.
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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
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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