New York, NY, April 24, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has 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, is expected to reach USD 213.84 billion in 2021 and is anticipated to grow at a CAGR of 6.3% between 2016 and 2021.
Active pharmaceutical ingredient (API) is used in the manufacturing of a pharmaceutical drug as a biologically active compound. API is an organic compound which has unique chemical structure and stereochemistry. Any medication is made up of two portions. The first is the active pharmaceutical ingredients, which is the essential element of the drug. The second is known as an excipient which is an inner part of the drug. The active pharmaceutical ingredient is the chemically active substance, which is intended to deliver the desired impact in the body.
Browse through 68 Tables & 48 Figures spread over 110 Pages and in-depth TOC on "Active Pharmaceutical Ingredients (API) Market Size & Trends and Global Forecast 2021”.
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The market for API is driven by a number of factors, such as increasing prevalence of chronic diseases, technological advancements in the API manufacturing, and growing incidences of age-related diseases. Furthermore, patent expiration of major drugs that increased generic drug sales, government initiatives flourishing the market growth. However, stringent regulatory requirement and decline in global economics may curb the worldwide active pharmaceutical ingredient market.
The global active pharmaceutical ingredient market is broadly segmented based on API synthesis, type of manufacturing, type of API, and type of drug, application and by region. On the basis of API, synthesis market is segmented into biotech API, synthetic chemical API, and HPAPI (Highly Potent Active Pharmaceutical Ingredient). The biotech API is the leading segment and acquired a significant share in overall API market in 2015. On the basis of the type of manufacturing, the market is segmented into API contract manufacturing and in-house API manufacturing. The contract manufacturing emerged as major segment due to lower cost and higher quality of production of the API. Type segment of API includes synthetic API and biological API.
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By type of drug, the market is segmented into branded drugs, generic drugs, and OTC (Over the Counter) drugs. The generic prescription drugs segment is expected to witness the highest growth in the upcoming years due to their low cost compared to branded drugs. Cardiology, oncology, anti-inflammatory, gastrointestinal and others are the key therapeutic application segmentation of API market. According to World Health Organization (WHO), cancer was one of the major causes of mortality across the globe. Thus, the oncology segment is expected to be the fastest-growing segment of the global API market.
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.
Browse the full "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 (Into Branded Drugs, Generic Drugs and OTC Drugs), for Cardiology, Oncology, Anti-Inflammatory, Gastrointestinal and Other Application - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/active-pharmaceutical-ingredients-market
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 the 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 a 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.
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Latin America represents huge potential for API market due to rapidly expanding economies and improving healthcare sector. In 2015, Mexico was the largest market in Latin America. Brazil is expected to show noteworthy growth due to increasing aging population and strengthening healthcare systems.
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.
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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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