ALBANY, N.Y., Sept. 22, 2020 /PRNewswire/ -- Active pharmaceutical ingredients (APIs) refer to vital chemicals that are responsible for making the drug work. Depending on type, biotech/biological API, synthetic chemical API, high-potency API, plant extracts API, and classical fermentation API are some of the products available in the active pharmaceutical ingredients (API) market.
Analysts at TMR emphasize that the global active pharmaceutical ingredients (API) market will show promising growth on the back of increase in number of abbreviated new drug applications (ANDA. This aside, the market will gain advantage of growing focus on government bodies toward biomedical innovation.
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Key Findings of Active Pharmaceutical Ingredients (API) Market Report
- The global active pharmaceutical ingredients (API) market was pegged at approximately US$ 169.1 Bn in 2018.
- Analysts at TMR highlight that the market will develop at a promising CAGR of 5.4% during 2019–2027.
- On regional front, Asia Pacific is one of the prominent regions for the market growth due to presence of major important players.
- The nature of active pharmaceutical ingredients (API) market is highly fragmented.
Explore 190 pages of top-notch research, incisive insights, and detailed country-level projections on 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 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/1690
Active Pharmaceutical Ingredients (API) Market: Key Driving Factors and Promising Avenues
- The global active pharmaceutical ingredients (API) market is estimated to experience prominent expansion opportunities during the forecast period of 2019 to 2027.This growth is attributed to growth in abbreviated new drug applications (ANDA) in the recent few years.
- Similarly, the market for active pharmaceutical ingredients (API) will gain promising avenues for development on the back of rising focus of government authorities toward biomedical innovation.
- The rising number of patients living with various critical health conditions such as cardiovascular diseases, cancer, and diabetes is stimulating noteworthy demand avenues in the global the active pharmaceutical ingredients (API) market.
- This aside, the market for active pharmaceutical ingredients (API) is expected to gain prominent sales opportunities in all worldwide location on the back of increasing older population and sedentary lifestyles of major populace all across the globe.
- In recent years, the active pharmaceutical ingredients (API) market is experiencing remarkable growth in demand for cost-effective drug substitutes. Several vendors engaged in the pharmaceutical drug manufacturing do not have adequate in-house capacity to fulfill this stupendous growth in demand. This situation has resulted in increased number of active pharmaceutical ingredients (API) producers. This scenario shows that the active pharmaceutical ingredients (API) market will grow at rapid pace in the upcoming years.
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Active Pharmaceutical Ingredients (API) Market: Competitive Assessment
The global active pharmaceutical ingredients (API) market experiences presence of many important players. As a result, the competitive landscape of the market is highly intense. Enterprises in the market for active pharmaceutical ingredients (API) are focused on the development of technologically advanced products. At the same time, they are growing efforts toward achieving regulatory approvals.
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Several enterprises in the active pharmaceutical ingredients (API) market are concentrated on strengthening their market position. To achieve this motive, they are executing strategies such as mergers and acquisitions, partnerships, and collaborations. Owing to all these activities, the active pharmaceutical ingredients (API) market is projected to show prodigious growth in the forecast period of 2019 to 2027.
The list of important companies working in the active pharmaceutical ingredients (API) market includes Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim International GmbH., Aurobindo Pharma, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Bayer AG, and F. Hoffmann-La Roche Ltd.
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The active pharmaceutical ingredients (API) market is segmented as follows:
Method of Manufacturing
- In-house API Manufacturing
- API Contract Manufacturing
Type of API
- Synthetic Chemical API
- Biotech/Biological API
- Plant Extracts API
- High-potency API
- Classical Fermentation API
Type of Drug
- Branded or Innovative Prescription Drugs
- Generic Prescription Drugs
- Over-the-counter (OTC) Drugs
- Anti-infective Drugs
- Metabolic Disorders Drugs
- Cardiovascular Drugs
- Oncology Drugs
- Central Nervous System Drugs
- Respiratory Diseases Drugs
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
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