Active Pharmaceutical Ingredients (API) Market Size to Reach USD 105780 Million by 2027 at a CAGR of 6.6% | Valuates Reports

BANGALORE, India, Feb. 23, 2022 /PRNewswire/ -- The Global API Market is Segmented by Type (Synthetic APIs, Biotech APIs), by Application (Cardiovascular, CNS, Oncology, Respiratory, Genitourinary/Hormonal Drugs, Rheumatology, Diabetes): Opportunity Analysis and Industry Forecast, 2021–2028. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.

The global Active Pharmaceutical Ingredients Market was valued at USD 67700 Million in 2020 and it is expected to reach USD 105780 Million by the end of 2027, growing at a CAGR of 6.6% during 2021-2027.

Major Factors Driving the Growth of Active Pharmaceutical Ingredients Industry:

The active pharmaceutical ingredients market is expected to grow at a rapid rate over the forecast period, owing to an increase in the number of biosimilars and an increase in the cases of various chronic diseases.

Furthermore, factors such as increased drug R&D and biopharmaceutical uptake are expected to propel the API market forward.

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TRENDS INFLUENCING THE ACTIVE PHARMACEUTICAL INGREDIENTS MARKET GROWTH:

Chronic diseases such as diabetes, coronary artery disease, chronic obstructive pulmonary disease (COPD), asthma, hepatitis, arthritis, and cancer have increased significantly in major regions around the world over the last few decades. This is due to an increase in the global geriatric population, changing lifestyles, and dietary changes as a result of rapid urbanization. APIs are a type of drug that is used to treat and prevent a variety of chronic diseases. As a result, the active pharmaceutical ingredients market is expected to grow as the number of chronic diseases rises.

The outbreak of the COVID-19 pandemic in 2020 had a positive impact on the active pharmaceutical ingredient market, as countries and major players are producing large quantities of ingredients to meet the demand for COVID 19 treatment. As a result of the COVID-19 outbreak, drug companies have redirected their models to focus on a larger group of patients.

During the forecast period, the emerging biosimilars market is expected to propel the active pharmaceutical market even further. A biosimilar is a biological product that is very similar to a reference biologic but does not differ clinically in terms of safety, purity, or potency.

The Active Ingredients market is expected to grow due to increased R&D for new drugs to address rising diseases. The API manufacturer must develop a new chemical process in order to improve industrial efficiency, which necessitates a significant technological contribution from the API manufacturer. It is therefore critical for the API manufacturer to have a cutting-edge Research & Development (R&D) facility, allowing for the transition from laboratory scale to pilot plant, and then to full industrial scale, while maintaining the characteristics required by the pharmaceutical industry for drug production and distribution. In addition, the shift in the trend toward precision medicine is expected to provide lucrative growth opportunities for API market participants.

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ACTIVE PHARMACEUTICAL INGREDIENTS MARKET SHARE:

Based on type, Synthetic APIs are expected to be the most lucrative segment. This can be attributed to increased raw material availability and simplified synthesis protocols for these molecules.

Based on region, North America is expected to be the most lucrative segment. The growing incidence of preventable chronic diseases, increased government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in API manufacturing processes are all factors contributing to North America's market growth.

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Key Players

• Teva
• Mylan
• DSM
• Aurobindo Pharma
• Aspen
• Novartis
• BASF
• Pfizer
• Huahai Pharmaceutical
• Hisun Pharmaceutical
• Sun Pharmaceutical Industries
• Zhejiang Medicine
• Dr. Reddy's Laboratories
• Zhejiang NHU
• Bayer
• NCPC
• AbbVie
• Shandong Xinhua Pharmaceutical
• Northeast Pharm
• Harbin Pharmaceutical
• LKPC.

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