Active Pharmaceutical Ingredients Market Size & Business Analysis
Author : Prashil CMI | Published On : 22 Sep 2021
The global Active Pharmaceutical Ingredients Market was valued at US$ 168.9 Bn in the year 2018 and is expected to reach US$ 273.3 Bn by the year 2026, growing at a CAGR of 6.2% during the forecast period.
The increasing demand for biopharmaceuticals is one of the most important factors that is driving the growth of the global active pharmaceutical ingredients market.
In addition, Porter’s Five Forces research provides the economic climate of the industry, which is covered in the Active Pharmaceutical Ingredients business review. The study focuses on market share and competition index analysis, which aids in determining the leading player’s contribution to the Active Pharmaceutical Ingredients business. The current macroeconomic trends in the Active Pharmaceutical Ingredients industry are included in this report. The detailed knowledge and recent primary changes in the regional life of major competitors are highlighted in the research study. The role of numerous variables such as economic, social, political, legal, and technical forces, as well as evolving business trends that have an impact on consumer growth is also studied.
The Active Pharmaceutical Ingredients Market report has been segregated based on distinct categories, such as product type, application, end-user, and region. Each segment is evaluated based on CAGR, share, and growth potential.
The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the most important competitors operating in the market on a universal and local scale. Active Pharmaceutical Ingredients (API) Market is split by Type and by Application. For the period 2016-2023, the growth among segments provides accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
- Innovative APIs
- Generic APIs
By Synthesis Type
- Synthetic API
- Biotech API
- In March 2018, Pfizer CenterOne introduced Enviero progesterone. This API is produced by using a first-of-its-kind progesterone synthesis developed by Pfizer. It is the first API launched under the green-chemistry program of Pfizer CentreOne. The procedure used for synthesizing this Progesterone API has led to a reduction in greenhouse gases, use of hazardous solvents, and waste produced. For instance, the carbon footprint of the progesterone manufacturing process has reduced by more than 70%.
- In 2018, Sanofi completed the acquisition of Ablynx, a biopharmaceutical company that is developing nanobodies for various therapeutic areas including immuno-oncology, hematology, and respiratory diseases, amongst others.
- In May 2018, Novartis successfully completed the acquisition of AveXis, a clinical-stage gene therapy company, for US$ 8.7 billion in cash. AveXis’ lead product is a one-time gene replacement therapy for spinal muscular atrophy.
Geographically, North America is dominating the global active pharmaceutical ingredients market. The increasing incidence of chronic diseases, rising demand for biologics, technological advancements in manufacturing processes, and favourable reimbursement policies will drive the growth of the API market in this region.