According to the research report, the global Active Pharmaceutical Ingredients (APIs) Market was valued at USD 177.4 Billion in 2019 and is projected to reach USD 306.1 Billion by 2027, growing at a CAGR of 7.1% during the forecast period.
Active Pharmaceutical Ingredient (API) is a substance involved in the Finished Pharmaceutical Product (FPP), aiming to enhance pharmacological activity or have a direct impact on the cure, mitigation, diagnosis, treatment of disease or the modification, correction or restoration of physiological functions in the human body. Pharmaceutical products are composed of various components, API is the main ingredient of a pharmaceutical product, for example a capsule or a tablet. The API form used in the formulation is the most thermodynamically stable crystalline form.
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Major factors favoring the global market include the sudden outbreak of novel corona virus, which is rapidly increasing the demand for pharmaceuticals and thus fueling the overall market growth. Moreover, increasing aging population, increasing cases of cardiovascular diseases, cancer, AIDS and other infectious diseases are further contributing to increase the demand for APIs used in medicines. For example, according to a report published in March 2020 by the World Health Organization (WHO), the number of patients with COVID-19 has increased to 200,000 and, almost after a period of twelve days, the number would exceed 100. 000. Moreover, the rising incidence of cardiovascular, oncology, diabetes, and lifestyle diseases coupled with the increasing geriatric population further increases the overall demand for the global market.
The best market players are:
Market players such as AbbVie Inc., Albemarle Corporation, AstraZeneca, Aurobindo Pharma, Boehringer Ingelheim, Bristol-Myers Squibb, Cipla Inc., Dr. Reddy’s Laboratories Ltd., ELI Lilly and Company, F. Hoffmann-La Roche, GlaxoSmithKline PLC, Lonza Group, Merck & Co., Inc., Mylan NV, Novartis AG, Pfizer, Inc., Sanofi, Sun Pharmaceutical Industries Ltd and Teva Pharmaceutical Industries Ltd. are some of the major players operating in the global market.
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Market players are focusing on the development of active pharmaceutical ingredients to meet the growing demand for critical drugs for the treatment of numerous diseases. For the treatment of various diseases such as cancer, HIV, arthritis, hepatitis B, diabetes, cardiovascular diseases, AIDS and various others, which are responsible for the majority of deaths worldwide, the innovation and demand for pharmaceuticals saw a high chart. over the few decades. This has further resulted in an increase in the growth of API over the past few years and also over the forecast period.
Major market players are building their capabilities to enhance their product portfolio and further establish their marketplace. For example, in July 2020, Advert International signed an agreement to acquire RA Chem Pharma Ltd, a pharmaceutical company integrated by Micro Labs Ltd. for $1.7 billion. Advert International aims to create one of the leading API platforms and is expected to leverage its operational and financial resources across the globe to scale RA Chem Pharma.
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Polaris Market Research has segmented the Active Pharmaceutical Ingredients market on the basis of product type, form, manufacturer type, application, and region.
Active Pharmaceutical Ingredient Product Type Outlook (Revenue – USD Million, 2016 – 2027)
Small molecule antibiotics
High Potency Active Pharmaceutical Ingredient (HPAPI)
Active Pharmaceutical Ingredient Forms Outlook (Revenue – USD Million, 2016 – 2027)
Active Pharmaceutical Ingredients Manufacturer Type Outlook (Revenue – USD Million, 2016 – 2027)
Application Outlook of Active Pharmaceutical Ingredients (Revenue – USD Million, 2016 – 2027)
CNS and neurology
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