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Active Pharmaceutical Ingredient (API) Market Size to Hit around US$ 249.7 Billion by 2027

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New York, United States: The Report on Active Pharmaceutical Ingredient (API) Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Active Pharmaceutical Ingredient (API) Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors. The global Active Pharmaceutical Ingredient (API) market gathered revenue around USD 187.9 Billion in 2020 and market is set to grow USD 249.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.1% during the prediction period 2021 to 2027

Overview of Active Pharmaceutical Ingredient (API) Market Study

Active Pharmaceutical Ingredient (API) market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

Get your Customized Research Report@ https://www.novaoneadvisor.com/report/customization/5908

Growth Factors:

Market growth is driven mainly by factors such as rising drug R&D, the increasing incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals. On the other hand, unfavorable drug price control policies across various countries and high manufacturing costs are expected to restrain the growth of this market.

Global Active pharmaceutical ingredients Market Dynamics
DRIVER: Increasing incidence of chronic diseases
Over the last few decades, the incidence of chronic diseases such as diabetes, coronary artery disease, chronic obstructive pulmonary disease (COPD), asthma, hepatitis, arthritis, and cancer has increased significantly in major regions across the globe. This can be attributed to the rising geriatric population across the globe (by 2050, more than 20% of the global population is expected to be aged over 65 years), changing lifestyles, and dietary changes as a result of rapid urbanization. According to the International Diabetes Federation, in 2019, 463 million people worldwide were diagnosed with diabetes. Moreover, the number of new cancer cases per year is expected to rise to 23.6 million by 2030. Apart from cancer, a number of other diseases have shown increasing prevalence rates.

RESTRAINT: High manufacturing costs
The high manufacturing cost of APIs is one of the major challenges faced by market players. Manufacturers often have to make costly investments for improvements in their manufacturing facilities to ensure compliance with standards such as the cGMP. This includes the renovation of production facilities, inculcating familiarity with qualification requirements and processes, and building a dossier of product efficacy and safety tests that meet the requirements of regulatory authorities. Furthermore, the costs of obtaining regulatory approvals are relatively higher for firms with small volumes. The chemical synthesis of APIs also often requires expensive and uncommon building blocks and raw materials, which further adds to API manufacturing costs.

OPPORTUNITY: Emerging biosimilars market
The rising incidence of various diseases, the increasing number of off-patent biologic drugs, positive outcomes in ongoing clinical trials for biosimilars, and the rising demand for biosimilars in different therapeutic applications (such as rheumatoid arthritis and blood disorders) are the major factors driving the growth of the biosimilars market. Biosimilars are generic versions of patented biologic drugs; hence, they do not need to comply with the stringent requirements of various regulatory authorities (making them cost-effective as compared to patented biologics). The expiration of patents and other intellectual property rights for originator biologics over the next decade is expected to open up opportunities for biosimilars to enter the market.

The innovative APIs segment dominated the active pharmaceutical ingredients market in 2019.
Based on type, the active pharmaceutical ingredients market is segmented into innovative and generic APIs. The innovative APIs segment accounted for the largest share of the global active pharmaceutical ingredients market in 2019. Increased FDA approvals for new molecular entities, high price of innovative APIs as compared to the generic drugs, increased focus on R&D by the innovator API companies are the factors contributing towards the growth of the innovative APIs segment.

The oncology segment will witness the highest growth during the forecast period
Based on application, the active pharmaceutical ingredients market is segmented into communicable diseases, oncology, cardiovascular diseases, diabetes, pain management, chronic respiratory diseases, and other therapeutic application. neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. In 2019, the oncology segment is expected to register the highest CAGR during the forecast period. Growth in this market segment is driven by the increasing demand for highly potent APIs (HPAPIs) for the treatment of cancer.

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COVID-19 Impact on Active Pharmaceutical Ingredient (API) Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Active Pharmaceutical Ingredient (API) market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Active Pharmaceutical Ingredient (API) market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Active Pharmaceutical Ingredient (API) market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Active Pharmaceutical Ingredient (API) market include:

Pfizer Inc., Novartis International AG, Merck & Co., Teva Pharmaceutical Industries Ltd., Mylan N.V., Boehringer Ingelheim, F. Hoffmann-La Roche AG , Sanofi, AbbVie, Eli Lilly and Company, AstraZeneca, Bristol-Myers Squibb, and GlaxoSmithKline plc.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

APIs Market, by Type

  • Innovative APIs
  • Generic APIS

By Type of Manufacturer

  • Captive Manufacturers
  • Merchant Manufacturers
    • Merchant Manufacturers Market, by Type
    • Innovative Merchant API Manufacturers
    • Generic Merchant API Manufacturers
    • Merchant Manufacturers Market, by Type of Synthesis
    • Synthetic APIs
    • Biotech APIs

By Type of Synthesis

  • Synthetic APIs Market
    • Synthetic APIs Market, by Type
    • Innovative Synthetic APIs
    • Generic Synthetic APIs
  • Biotech APIs Market
    • Biotech APIs Market, by Type
    • Innovative Biotech APIs
    • Biosimilars
    • Biotech APIs Market, by Product
    • Monoclonal Antibodies
    • Hormones
    • Cytokines
    • Fusion Proteins
    • Therapeutic Enzymes
    • Vaccines
    • Blood Factors
    • Biotech APIs Market, by Expression System
    • Mammalian Expression Systems
    • Microbial Expression Systems
    • Yeast Expression Systems
    • Insect Expression Systems
    • Other Expression Systems

By Type of Drug

  • Prescription Drugs
  • Over-the-counter Drugs

By Therapeutic Application

  • Communicable Diseases
  • Oncology
  • Diabetes
  • Cardiovascular Disease
  • Pain management
  • Respiratory Diseases
  • Other

Why Buy this Report?

The purpose of Nova one advisor’s Active Pharmaceutical Ingredient (API) market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Download This Full Research Report, Click Here@ https://www.novaoneadvisor.com/report/checkout/5908

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