Active Pharmaceutical Ingredients Market– Statistics And Analysis & ForecastPosted by Mrudula Anil Karmarkar on January 11th, 2021 The global active pharmaceutical ingredient market size is expected to reach a value of USD 286.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Factors, such as increasing preference for outsourcing APIs and growing prevalence of various target diseases such as cancer and Cardiovascular Diseases (CVDs) are expected to drive the market growth. Due to the massive lockdown in China, there is an observed shortage of API across the globe to pharmaceutical manufacturers. The effects of such an impact, due to the ongoing global pandemic will be fully accounted for in the updated market analysis. A steady rise in consumer demand for APIs, especially in developing and under-developed countries, increases the adoption of these products. In addition, strategic collaborations play a key role in the adoption of these ingredients in various regions. For instance, in February 2020, Cipla Inc. partnered with Wellthy Therapeutics Private Limited to combine digital therapeutics and pharmacotherapy for better patient outcomes in cardiovascular diseases and diabetes. Private and public initiatives to manufacture active pharmaceutical ingredients within their countries, especially in developing countries such as India, is expected to drive the growth of the market. For instance, API production in India is promoted under the “Make in India” initiative. Presence of prominent players and increasing government initiatives for the development of pharmaceuticals in various regions are also expected to boost the market growth. Increasing consumer awareness and demand for economical and effective treatment strategies, especially in Asia Pacific and Middle East and Africa, are driving the sales channels. In addition, high adoption and growing usage of online pharmacies are likely to drive the e-commerce sales of APIs. Active Pharmaceutical Ingredients Market Report Highlights
The API market is competitive in nature and is becoming increasingly competitive. Consequently, manufacturers are required to enhance products in order to gain advantage over previously marketed products. For instance, in March 2020, Dr. Reddy’s Laboratories Ltd. launched XCEED-a B2B customer service portal. The platform was designed to manage the growing demand for generic active pharmaceutical ingredients by significantly increasing operational efficiency. The global active pharmaceutical ingredient market size was valued at USD 170.8 billion in 2020 and is estimated to register a CAGR of 6.7% over the forecast period. Advancements in active pharmaceutical ingredient (API) manufacturing, growth of the biopharmaceutical sector, and increasing geriatric population are the key drivers of the market. Rising prevalence of infectious diseases and hospital-acquired infections are expected to drive market growth during the forecast period. According to a 2017 NCBI article on a survey conducted in a tertiary hospital in Japan, around 339 bacteremia UTI cases were identified. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/658/ibb Some of the key players in the market are AbbVie Inc.; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Cipla Inc.; Boehringer Ingelheim International GmbH; Merck & Co., Inc.; Sun Pharmaceutical Industries Ltd.; Bristol-Myers Squibb Company; Albemarle Corporation; Aurobindo Pharma; and Dr. Reddy’s Laboratories Ltd. Launches of new drugs and biological products, acquisitions, collaborations, and regional expansion are some of the strategic initiatives undertaken by these industry players to maintain stability in the market. For instance, in June 2020, Boehringer Ingelheim partnered with Solve. Care-an Estonian blockchain healthcare firm-to create a Diabetes Care Administration Network. The digital mode is aimed at streamlining treatment strategies for patients with type 2 diabetes. The platform will enable patients to communicate with healthcare providers, understand their insurance, co-ordinate with specialists, and access accurate records. Grand View Research has segmented the global active pharmaceutical ingredients market on the basis of type of synthesis, type of manufacturer, type: API Type of Synthesis Outlook (Revenue, USD Billion, 2015 - 2027)
o Monoclonal antibodies o Recombinant proteins o Vaccines
API Type of Manufacturer Outlook (Revenue, USD Billion, 2015 - 2027)
API Type Outlook (Revenue, USD Billion, 2015 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |