MarketResearch.biz announces publication of its most recently generated research report titled, “Global Active Pharmaceutical Ingredient Market by Manufacturing Process (Captive Manufacturing and Contract Manufacturing), by API Type (Synthetic API and Biological API), by Drug Type (Prescription Drugs and Over-The-Counter Drugs), by Therapeutic Area (Communicable Diseases, Oncology, Ophthalmology, Cardiovascular Diseases, Diabetes, Respiratory Diseases, and Other) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Global Active Pharmaceutical Ingredient Market Forecast to 2028.”, which offers a holistic view of the active pharmaceutical ingredient market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2018–2023) is projected to be over US$ 9.0 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.
Global Active Pharmaceutical Ingredient Market: Market Dynamics
An increasing number of FDA approvals regarding new molecular entities, many large-scale manufacturers and providers are focusing on better API production, most of the key generic drug manufacturing firms have their captive API manufacturing facility are this is a trend that witnessed in the global market. Furthermore, the expiration of patents for branded highly prescribed drugs will continue to impact health care spending as many lower-cost generics are now entering to participate in the pharmaceutical market and lower down the costs.
In 2013, Amgen’s completed the patent period of Neupogen-white blood cell booster drug, post this in 2015 Sandoz subsidiary of Novartis launch the biosimilar product Zarxio which have lower price that the branded product which further hamper the market value of Neupogen.
Afterward, these patents miss coverage, there will be a necessity to produce these drugs in a low-cost manner in order to keep its price competitive. In addition, this, in turn, will generate an opportunity for various nations, that are low-cost manufacturing centers across the world.
Technological innovation and advancements in recent few years for API’s manufacturing process and equipment have allowed more prompt and rapid treatment done by healthcare providers.
• Use of enzymes, biocatalyst and reducing the size of particle by using advanced milling equipment to increase the production of active pharmaceutical ingredients have led to technological advancement
• General advantages using Enzymes in API are improve productivity, greater saving, huge range for selection, lower toxicity eg: Pregabalin- Lipase from TL Source
• According to WHO 2011, of the 30 initiatives identified, 20 supported formulation, 9 production process transferred technology for API
On the other hand, stringent regulations and rules set by several drug administrative organizations, inappropriate drugs, and cost control policies around various nations coupled with huge competition are some challenges that are expected to hinder the growth of global active pharmaceutical ingredients(API) market.
Global Active Pharmaceutical Ingredient Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global Active Pharmaceutical Ingredient market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global Active Pharmaceutical Ingredient market is expected to expand at a CAGR of 6.4% over the forecast period.
Global Active Pharmaceutical Ingredient Market: Segmental Snapshot
The global active pharmaceutical ingredient market has been segmented on the basis of manufacturing process, API type, drug type, therapeutic area, and region. The manufacturing process segment includes captive manufacturing and contract manufacturing. The API type segment includes synthetic API and biological API. The drug type segment includes prescription drugs and OTC drugs. The therapeutic area segment includes communicable diseases, oncology, ophthalmology, cardiovascular diseases, diabetes, respiratory diseases, and other. The regions covered in the analysis includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Manufacturing Process: The captive manufacturing segment accounted for highest revenue share contribution as compared to other segment. The contract manufacturing segment is expected to register a CAGR of over 6.4% between 2018 and 2028.
By API Type: The synthetic API segment accounted for highest revenue share contribution as compared to other API type segment. The biological API segment is expected to register a CAGR of over 6.8% between 2018 and 2028.
By Drug Type: The prescription drugs segment accounted for highest revenue share contribution as compared to other drug type segment, and is expected to register a CAGR of over 6.3% between 2018 and 2028.
By Therapeutic Area: The cardiovascular diseases segment accounted for highest revenue share contribution as compared to other therapeutic area segment. The oncology segment is expected to register a CAGR of over 6.9% between 2018 and 2028.
By Region: The market in Asia Pacific accounted for highest revenue share in the global Active Pharmaceutical Ingredient market in 2019, and is expected to register a CAGR of over 6.6% between 2018 and 2028.
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Global Active Pharmaceutical Ingredient Market: Competitive Analysis
The research report on the global active pharmaceutical ingredient market include profiles of some of major companies such Teva Pharmaceutical Industries Ltd., Merck & Co., Mylan N.V., Sanofi, Ipca Laboratories Ltd., Aurobindo Pharma, Cipla Limited, Lupin Limited, GlaxoSmithKline plc, and Novartis Pharmaceuticals Corporation.
The Global Active Pharmaceutical Ingredient Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Active Pharmaceutical Ingredient market for 2018–2028.