Pune, India, Sept. 01, 2021 (GLOBE NEWSWIRE) -- This information is provided by Fortune Business Insights™ in a recent report, 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.
Synthetic API Segment to Grow Steadily Backed by their Cost-effective Nature
Based on synthesis, the market is bifurcated into biological API and synthetic API. Out of these, the synthetic API segment led in terms of API market share in 2018 backed by the cost-effective nature of raw materials used for producing these APIs. They are cheaper than the biological API. The biological API segment is anticipated to grow considerably throughout the forecast period on account of the rising technological advancements in biologics, as well as high demand for biopharmaceuticals to treat many diseases. Additionally, the surging number of FDA approvals for biological drugs, namely, recombined proteins, blood components, and vaccines would contribute to the growth of this segment.
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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 API 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. Also, several manufacturers have implemented favourable regulatory policies in this region to broaden their production capacity. It would also boost growth.
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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 Industry growth in the coming years. However, changes in price policies in the developing nations may hamper growth.
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Fortune Business Insights™ presents a list of all the companies operating in the industry. 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.
- Other key market players
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Some major points from 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 Ingredient
- Global 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
- North America Industry 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 Country
- U.S.
- Canada
- Europe Active Pharmaceutical Ingredient (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
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- Market Analysis, Insights and Forecast – By Country/Sub-region
- Asia Pacific Industry 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 Country/Sub-region
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Rest of World Market Analysis, Insights and Forecast, 2015-2026
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- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
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- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
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- Generic API
- Branded API
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- Market Analysis, Insights and Forecast – By Synthesis
- Competitive Analysis
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- Biological API
- Synthetic API
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- Key Industry Developments
- Global Market Share Analysis (2018)
- Company Profiles (Overview, Products & Services, SWOT analysis, Recent Developments, Strategies, Financials (based on availability))
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- Teva Pharmaceutical Industries Ltd
- AbbVie Inc.
- Abbott
- Aurobindo Pharma
- Cipla Inc.
- Dr. Reddy’s Laboratories Ltd
- Sun Pharmaceutical Industries Ltd
- Amgen Inc.
- Biocon
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- Mylan N.V.
- Others
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