NEW YORK, Jan. 16, 2017 /PRNewswire/ -- The active pharmaceutical ingredients market in terms of value is expected to reach USD 213.97 billion by 2021 from USD 157.95 billion in 2016, growing at a CAGR of 6.3% from 2016 to 2021. This market is categorized on the basis of type, type of manufacturer, type of synthesis, type of drug, therapeutic application, and region.
Major factors contributing to the growth of the active pharmaceutical ingredients market include increasing incidence of chronic diseases, rising prevalence of cancer, technological advancements in API manufacturing, growing importance of generics, rapidly increasing geriatric population, increase in abbreviated new drug applications (ANDA) and increasing uptake of biopharmaceuticals. Government initiatives to encourage adoption of generics also provide an impetus for the growth of this market. For instance, in 2008, the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, launched the Jan Aushadhi Scheme (Public Medicine Scheme) for providing quality medicines to the masses at affordable prices. Under this initiative, the government set up Jan Aushadhi stores to provide generic drugs to patients. Similarly, The European Union's decentralized procedure (DCP) for drug approval is an effective system for cross-border collaboration on the authorization of medicines. This is being used as a model for a number of new global initiatives in the harmonization of pharmaceutical regulatory standards. The implementation of such standards in turn is expected to drive the adoption of generic drugs.
Emerging biosimilars market, increasing scope for HPAPIs, emerging markets and emerging technologies have opened an array of opportunities for the active pharmaceutical ingredients market. However, factors such as a stringent regulatory requirements and unfavorable drug price control policies across various countries may restrain the growth of this market.
Based on type, the market is segmented into innovative and generic APIs. On the basis of type of manufacture, the APIs market is categorized into two segments, captive manufacturer and merchant manufacturer. On the basis of type of synthesis, the APIs market is segmented into synthetic APIs and biotech APIs. On the basis of type of drug, the APIs market is segmented into prescription and over-the-counter APIs. On the basis of therapeutic application, the APIs market is further segmented into oncology, cardiovascular diseases, diabetes, endocrinology, central nervous system and neurological diseases and other therapeutic applications.
Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the active pharmaceutical ingredients market and their product portfolios, developments, and strategies. The above-mentioned market research data, current market size, and forecast of the future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the active pharmaceutical ingredients market. The report analyzes the active pharmaceutical ingredients market by application, sales channel, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the active pharmaceutical ingredients market
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of leading players in the active pharmaceutical ingredients market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various active pharmaceutical ingredients products across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the active pharmaceutical ingredients market
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