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Global Active Pharmaceutical Ingredients Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
Active pharmaceutical ingredients are chemically and biologically active constituents of drugs which have a direct effect in the diagnosis, cure, mitigation, treatment, and prevention of diseases. In other words, API is the central ingredient of the drug that produces the intended effects. Usually, the pharmaceutical companies get the active pharmaceutical ingredients manufactured in their respective nations, but in recent years many companies have opted to shift the manufacturing of APIs overseas to reduce costs. This has resulted in important modifications in the way these drugs are regulated, with more stringent guidelines and assessments put into place. The global API market witnessed incredible growth over the last few decades because of the augmented use of drugs in the treatment of diseases. The growing adoption of quality standards in API manufacturing like Good Manufacturing Practices (GMP) and the global acceptance of International Conference on Harmonisation (ICH) guidelines have helped in improving the safety standards. The global active pharmaceutical ingredients market is accounted approximate USD 180.5 billion in 2020 and it is expected to reach approximate USD 308.3 billion by 2030 with a CAGR of 5.5% during forecast period.
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Market Dynamics and Factors:
The growing geriatric population and inactive lifestyles have attributed to various disorders such as diabetes, cardiovascular diseases, cancer, and many others. This is a major factor driving the active pharmaceutical ingredient market globally. For instance, according to the National Cancer Institute in 2016, there were approximately 15.5 million cancer survivors in the U.S and this number is going to reach 20.3 million by 2026. Technological advancements in API manufacturing and strategic outsourcing are other major factors driving the market growth. Strategic outsourcing of API production leads to elimination of labour and capital costs and allows companies to focus on their core competencies. Government initiatives towards prioritised biomedical innovation is another major reason fuelling the active pharmaceutical ingredients market growth across the globe. For instance, the U.S Food & Drug Administration (FDA) has approved 45 drugs in 2017 which are used in the treatment of various disorders like acute bacterial skin infections, type 2 diabetes, relapsed breast cancer, refractory acute lymphoblastic leukaemia, and many others. This results in enhanced productivity and in turn creates opportunities for market growth. However, certain factors like increasing penetration of counterfeit drugs; lack of skilled workforce; limited accessibility of drugs in developing nations are restraining the market growth of active pharmaceutical ingredients.
Market Segmentation:
Global Active Pharmaceutical Ingredients Market – By Type
Chemical API
Biological API
Global Active Pharmaceutical Ingredients Market – By Drug Type
Generic
Innovative
Global Active Pharmaceutical Ingredients Market – By Manufacturers
Captive API
Merchant API
Global Active Pharmaceutical Ingredients Market – By Synthesis
Synthetic API
Biotech API
Global Active Pharmaceutical Ingredients Market – By Applications
Cardiology
Oncology
CNS & Neurology
Orthopedic
Endocrinology
Pulmonology
Nephrology
Gastroenterology
Others
Global Active Pharmaceutical Ingredients Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the global active pharmaceutical ingredients market in terms of market share during the forecast period. Rising prevalence of chronic geriatric diseases; presence of a large pool of API manufacturers in the region and their constant R&D activities are some of the major factors attributing to the market dominance of the North American region. Europe is the second most dominating region in the global active pharmaceutical ingredients market. According to EU government agency survey, around 49 million people in the European Union are suffering from cardiovascular diseases in 2017. The Asia Pacific region is projected to be the fastest growing active pharmaceutical ingredients market during the forecast period. The presence of an enormous patient population coupled with rising incidences of chronic disorders is driving the market in the APAC region. For instance, China accounts for almost 50% of lung cancer cases in the region. Countries like India, China, and Thailand are major countries affected by breast cancer in the APAC region. Furthermore, the availability of cheap labour is encouraging several key active pharmaceutical ingredients players to outsource their manufacturing to APAC region, thus contributing towards further market growth.
Competitive Scenario:
The key players operating in the global active pharmaceutical ingredients market are –
Pfizer, Novartis AG, Sanofi, Merck and Co., Bristol-Myers Squibb Company, Sun Pharmaceuticals, Cipla Inc., Dr Reddy’s Laboratories Ltd., Aurobindo Pharma, Bayer AG, Hoffmann-La Roche Ltd., GlaxoSmithKline.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Active Pharmaceutical Ingredients industry, although key threats, opportunities and disruptive technologies that could shape the Global Active Pharmaceutical Ingredients Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Active Pharmaceutical Ingredients Market most.
The data analysis present in the Global Active Pharmaceutical Ingredients Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Active Pharmaceutical Ingredients Market business.
The 2021 Annual Global Active Pharmaceutical Ingredients Market offers:
100+ charts exploring and analysing the Global Active Pharmaceutical Ingredients Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Active Pharmaceutical Ingredients Market type
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Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.
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