NEW YORK, Oct. 14, 2015 /PRNewswire/ -- The Global Active Pharmaceutical Ingredients (API) market accounted for $121.4 billion in 2014 and is expected to grow at a CAGR of 6.4% to reach $198.8 billion by 2022. Patent expiration of prominent drugs, government initiatives, regional penetration, increasing aged population are some of the factors that are driving the market growth. Strict validation and safety guidelines stated by WHO and fragmented market are the factors that are hampering the API market growth.
The Global Active Pharmaceutical Ingredients (API) market is segmented on the basis of type of API, manufacturers, therapeutic area and geography. On the basis of type of API, the active pharmaceutical ingredients market is segmented into synthetic chemical API and biological API. By type of manufacturers, the market is categorized into captive (or in-house) and contract manufacturing. By therapeutic applications, the market is segmented into oncology, anti-Infectives, cardiovascular and hematopoietic system, gastrointestinal disorder, hormonal-related disorder, metabolic disorder, musculo-skeletal disorder and others. Anti-infectives application commanded the largest market share in 2014, whereas oncology is expected to be the fastest growing application with a CAGR of more than 8.8 during the forecast period.
By geography, it is segmented into North America, Europe, Asia Pacific and Rest of the World. North America is the global leader in the active pharmaceuticals ingredients market due to its highly developed research and development projects in the field of therapies, medical sciences, and drugs. Asia Pacific is projected to be the fastest growing regional market with a CAGR of more than 8%. The fast growth is attributed to patent expirations of drugs, and favourable investments in medical research.
Some of the prominent players in the active pharmaceutical ingredients (API) market include WuXi Apptec, Teva Pharmaceutical, Pfizer, Novartis, Mylan, BASF, Actavis, Cambrex, Dr. Reddy's Laboratories and Novartis.
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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