NEW YORK, July 11, 2016 /PRNewswire/ --
According to a New Market Report Published by Persistence Market Research "Active Pharmaceutical Ingredient (API) Market" the Global Active Pharmaceutical Ingredient Market was Valued at US$ 127 Bn in 2014 and is Estimated to Reach US$ 186 Bn by 2020 at a CAGR of 6.6% From 2015 to 2020.
The global active pharmaceutical ingredients (API) market was valued at US$ 135 Bn in 2015 and is expected to grow at a year over year rate of 6.4% to reach US$ 143 Bn in 2016. North America will remain the most lucrative market for active pharmaceutical ingredients, representing a revenue share of 35% in 2016.
Increase in global incidences of lifestyle related diseases and development of high potency APIs will continue to positively influence the global API market in 2016. Demand for active pharmaceutical ingredients is also growing due to increase in the geriatric population globally. These factors are expected to support the growth of the market in 2016 and beyond.
On the basis of manufacturing process type, the global pharmaceutical ingredient market is segmented into API manufacturing type and contract API. The API manufacturing includes captive or in-house API. In terms of revenue, captive manufacturing type accounted for higher share of the market than in-house API in 2015. However, owing to concerns regarding its limitation on manufacturing niche APIs and high production cost, manufacturers are looking for alternatives, fuelling the growth of the in-house API segment.
For a detailed API Market report TOC, follow the link: http://www.persistencemarketresearch.com/market-research/active-pharmaceutical-ingredient-market/toc
On the basis of API types, the market is segmented into synthetic chemical APIs and biological APIs. While synthetic chemical API segment accounted for a higher revenue share of the market in 2015, biological API is expected register a witness a higher year-over-year growth in 2016. Furthermore, major pharmaceutical companies are preferring biological API segment.
On the basis of drug type, branded API segment accounted for higher revenue share than over-the-counter (OTC) drugs, and generic prescription drugs in 2015. However, owing to their low cost manufacturing process, generic prescription drug segment is expected to expand at a higher year-over-year growth in 2016.
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On the basis of therapeutic areas, the global API market is segmented into disorders such as metabolic, cardiovascular, oncology, neurological, musculoskeletal, non-steroidal anti-inflammatory drugs (NSAIDs), and other therapeutic uses. Cardiovascular Drugs is the largest segment in terms of revenues, accounting for a revenue share of 24% in 2015. On the other hand, the oncology segment is expected to witness the highest year-over-year growth in 2016 over 2015.
Asia Pacific is the second-largest market for active pharmaceutical ingredients globally, with factors, such as availability of low cost production facilities making the region a key manufacturing hub globally. The region is home to over 60% of world's population, with a high percentage that can be categorised as geriatric.
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Key players in the global API market include Teva Pharmaceutical Industries Ltd., and Zhejiang NHU Co., Ltd, Zhejiang Medicine Co.North China Pharmaceutical Group Corp. (NCPC) and Northeast Pharmaceutical Group Co, Dr. Reddy's Laboratories Ltd., Aurobindo Pharma, Sandoz (Novartis AG), Zhejiang Huahai Pharmaceutical Co.,Ltd, Ltd and Zhejiang Hisun Pharmaceutical Co., Ltd.
Long-term Outlook: The global active pharmaceutical ingredients market is expected to increase at a CAGR of 6.6% during the forecast period from 2015-2020 and reach US$ 185 Bn in revenues by 2020 end. North America will remain the largest market, with revenues increasing at a CAGR of 6.6% during the forecast period.
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Summary: Active pharmaceutical ingredients market forecast report offers analysis and insights. Demand for active pharmaceutical ingredients highest in North America.
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