ALBANY, New York, June 24, 2019 /PRNewswire/ -- According to the report by Transparency Market Research, the global active pharmaceutical ingredients market is projected to worth approximately US$257.5 bn by the end of 2026. It is noticeable that the market valued nearly US$160.0 bn during 2017. This means that the market is expected to witness the growth with staggering 5.4% CAGR from 2018 to 2026.
The global active pharmaceutical ingredients market is broadly segmented in categories such as manufacturer APIs, drug, therapeutics, and regions the report. Under manufacturer category, the API contract manufacturing segment is likely to show highest growth in the market. The growth is attributed to factors such as prioritization of biomedical innovations by various governments across the globe. Moreover, the rising incidences of diseases like acute lymphoblastic leukemia and relapsed breast cancer, is one of the prominent reasons that is promoting the dominance of the segment in global active pharmaceutical ingredients market.
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Geographically, the active pharmaceutical ingredients market is witnessing a rapid growth in region of Asia Pacific. The region possesses maximum potentials for various businesses that can be leverages to derive substantial profit in the forecast period. Moreover, the prevalence of various acute diseases in the region is also one of the prominent growth influencing factors for the market.
Worldwide Growth of Chronic and Acute Diseases to Fuel the Growth of the Market
Growing instances of cardiovascular diseases, diabetes, and cancer are likely to drive the growth of global active pharmaceutical ingredients market from 2018 to 2026. The rising adoption of unhealthy lifestyle, sedentary lifestyle, and growing geriatric population are hew more factors that are influencing the growth of the market.
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On the hand, the growing preferences of anti-infective drugs for treatment is the most crucial factor that is driving the growth of global active pharmaceutical ingredients market in the forecast period. The growth of the market is also driven by the growing prevalence of chronic cardiovascular diseases and targeted drugs that are used to treat them. Owing to these factors, the global active pharmaceutical ingredients market is expected to witness a robust growth in the forecast period of 2018 to 2026.
Huge Monitory Investments to Hamper the Growth of the Market
Active pharmaceutical ingredients manufacturing requires a huge capital investment. Which can be a major concern for various players in the global active pharmaceutical ingredients market. Nevertheless, Stringent regulatory compliances by various governments across the globe is also one the challenges that players of active pharmaceutical ingredients market have to deal with.
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However, the rising use of specialty medicines are expected to elevate the pharmaceutical expenditures in various countries across the globe are projected to offer numerous opportunities to the players. These opportunities can allow the businesses to generate substantial profit and maintain the momentum for the growth of global active pharmaceutical ingredients market in forecast period of 2018 to 2026.
According to a recent report by Transparency Market Research, the growing demand for new and low cost drugs has raised the bar of competition in global active pharmaceuticals ingredients market. In order to sustain this highly competitive landscape, the emerging players are investing heavily on innovative product launches along with substantial investments in research and development activities. Some of the prominent players are looking forward to strategies such as mergers, collaborations, and partnerships as one the resorts to gain competitive edge over their rivals. Few of the key players are inclining towards acquisition of various small and medium scale businesses in order to increase their resource bank and maintain their dominance in global active pharmaceuticals ingredients market.
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Organizations such as Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Pfizer Inc., Boehringer Ingelheim International GmbH., Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche Ltd, and Bayer AG are the key players of global active pharmaceutical ingredients market.
The study presented here is based on a report by Transparency Market Research (TMR), titled, "Active Pharmaceutical Ingredients (API) Market (Manufacturer - In house API Manufacturing, API Contract Manufacturing; APIs - Synthetic Chemical API, Biotech or Biological API, Plant Extracts API, High-potency API, Classical Fermentation API; Drug - Branded or Innovative Prescription Drugs, Generic Prescription Drugs, OTC (Over-the-counter) Drugs; Therapeutic - Anti-infective Drugs, Metabolic Disorders Drugs, Cardiovascular Drugs, Respiratory Diseases Drugs) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026."
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