Rise in Entry of Various Companies, Launch of New APIs, Incidence of Diseases to Drive Active Pharmaceutical Ingredients [API] Market, Opines TMR

Active pharmaceutical ingredients [API] market will reach the valuation of US$ 331.3 Bn in 2031. Increased cases of health issues including cancer globally is projected to fuel market expansion during the forecast period.

Cardiovascular diseases to be key application of API

ALBANY, N.Y., Aug. 12, 2021 /PRNewswire/ -- Rise in prevalence of diseases & disorders and growth in government & organizational investments to develop APIs are major contributors to the expansion of the global active pharmaceutical ingredients (API) market. In addition, advancements in research & technology on biological processes and small molecule APIs are expected to prove beneficial for the increasing market demand.

According to the researchers at Transparency Market Research (TMR), the global active pharmaceutical ingredients [API] market is expected to expand at a CAGR of 6.4% during the forecast period of 2021–2031.

Active Pharmaceutical Ingredients [API] Market: Key Findings

• Increased Abbreviated New Drug Applications (ANDA) Boost Market Demand

The ANDA approvals for pharmaceutical companies suggest that the generic drug is equivalent to the original medication in key aspects such as dosage strength, route of administration, form, performance characteristics, intended use, and the quality of the drug. In the past few years, there is a notable growth in the ANDA across major parts of the globe. This factor is expected to drive demand opportunities for the global active pharmaceutical ingredients [API] market.

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Increase in Hypertension, Cardiovascular Health Issues Create Significant Sales Opportunities in Market

Cardiovascular diseases and hypertension are considered some of the widespread diseases that have resulted in noteworthy increase in the cases of deaths and medical disabilities across the globe. With increase in the number of patients dealing with these health issues, the demand for pharmaceutical products needed for the treatment of all these diseases is increasing. This scenario is likely to translate into growth opportunities for the global active pharmaceutical ingredients [API] market in the years ahead.

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Active Pharmaceutical Ingredients [API] Market: Growth Boosters

• With growing adoption of sedentary lifestyle, the number of people dealing with various health conditions is increasing across the major parts of the globe. This is one of the key factors boosting the sales opportunities in the global active pharmaceutical ingredients [API] market.
• At present, the companies engaged in the API manufacturing are concentrated on their business expansion in Asia Pacific, specifically several developing nations such as China, Taiwan, and India. The market is estimated to show the development at a rapid pace in the Asia Pacific region on the back of the presence of many active enterprises, including Aurobindo, Sun Pharma, and Teva Active Pharmaceutical Ingredients (TAPI) in the region. Moreover, the increased cases of cancer in the region is likely to result into market growth in the near future.

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Active Pharmaceutical Ingredients [API] Market: Some of Key Players

The report profiles key players working in the active pharmaceutical ingredients [API] market. Company overview, business strategies, financial overview, business segments, recent developments, and product portfolio of market players are covered in the present research report.

The list of important players in the market includes:

• Teva Pharmaceutical Industries Ltd.
• Merck & Co., Inc.
• Pfizer, Inc.
• Sanofi
• Mylan N.V.
• Novartis AG
• WuXi AppTec Co., Ltd.
• Lonza
• Hisun USA, Inc.
• Piramal Pharma Solutions
• AbbVie, Inc.
• Ipca Laboratories Ltd.
• BASF SE
• Alembic Pharmaceuticals Limited
• Boehringer Ingelheim International GmbH
• Biocon Ltd.
• Cambrex Corporation
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Dr. Reddy's Laboratories Ltd.
• GlaxoSmithKline plc.

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Global Active Pharmaceutical Ingredients (API) Market: Segmentation

• Active Pharmaceutical Ingredients (API) Market, by Manufacture Type
• In House Manufacturing
• Contract Manufacturing
• Active Pharmaceutical Ingredients (API) Market, by Drug Type
• Branded or Innovative Prescription Drugs
• Generic Prescription Drugs
• Over-the-counter (OTC) Drugs
• Active Pharmaceutical Ingredients (API) Market, by API Type
• Synthetic
• Biological
• Plant Extracts
• Active Pharmaceutical Ingredients (API) Market, by Application
• Anti-infective
• Cardiovascular
• Neurological
• Metabolic Disorder
• Respiratory
• Oncology
• Others
• Active Pharmaceutical Ingredients (API) Market, by End User
• Pharmaceutical & Biotechnological Industry
• CROs
• CMOs
• Others
• Active Pharmaceutical Ingredients (API) Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research

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