Global Active Pharmaceutical Ingredients Market Is Expected to Reach US$ 273.3 Bn By The Year 2026

The global active pharmaceutical ingredients market was valued at US$ 168.9 Bn in the year 2018 and is expected to reach US$ 273.3 Bn by the year 2026, growing at a CAGR of 6.2% during the forecast period.

An active pharmaceutical ingredient is that part of a drug that is intended to provide pharmacological activity, i.e., biological activity, in the treatment or prevention of diseases, or is intended to affect the function or structure of the human body.
The major factors driving the growth of the active pharmaceutical ingredients market are the increasing prevalence of chronic diseases, increasing uptake of biopharmaceutical products, and the rising importance of generic drugs. However, the increasing penetration of counterfeit drugs and drug price control policies across the globe are expected to impede the growth of this market.

The active pharmaceutical ingredients market was earlier dominated by cardiovascular, anti-infective, pain management, and analgesic drugs. However, the market has been witnessing an increasing demand for complex and novel formulations for the treatment of cancer, metabolic disorders, and autoimmune diseases.

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The global active pharmaceutical ingredients market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An in-depth analysis of the regional and country level market at the various segment and sub-segment levels has been provided. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & product launches that will assist or affect the market in the near future.

Cardiovascular diseases are expected to hold the largest market share in the therapeutic application segment

The high prevalence of cardiovascular diseases is one of the major factors for the dominance of the cardiovascular application segment. According to the World Health Organization, cardiovascular diseases are the number one cause of death globally, with an estimated 17.9 million of CVD related deaths in 2016. This number is expected to reach 187 million by the year 2030. The estimated global cost of cardiovascular disease was around US$ 863 Bn in 2010 and is expected to reach US$ 1,044 Bn by the year 2030.

The key drugs classes for the treatment of cardiovascular diseases are blood pressure lowering drugs and cholesterol reducing drugs. Statins are the most important family of drugs that is expected to drive the growth of the cardiovascular disease segment.

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The oncology therapeutic application is expected to grow at the highest rate during the forecast period. The International Agency for Research on Cancer estimates that the global incidence of cancer will reach 29.5 million by 2040, from 18.1 million in 2018. The increasing prevalence of cancer, coupled with the launch of new synthetic and biologic drugs for the treatment of cancer, is expected to drive the oncology application segment.

Biotech API segment is expected to grow at the highest CAGR during the forecast period
Based on the synthesis type, the active pharmaceutical ingredients market has been segmented into synthetic API and biotech API. The synthetic segment held the highest share in the base year. However, the biotech sub-segment is expected to grow at the highest CAGR during the forecast period. The high efficiency of biotech molecules, coupled with the increasing demand for biopharmaceuticals, is expected to drive the market for this segment. The biotech API segment is further divided into monoclonal antibodies, recombinant proteins, and others. The biotech API segment can be further divided into mammalian expression systems, yeast expression systems, microbial expression systems, and others, on the basis of the expression system.

North America is expected to dominate the market
In the base year 2018, North America dominated the market, followed by Europe. The major reasons behind the dominance of North America are the increasing prevalence of chronic diseases in the region and growing healthcare expenditure. Technological advancements in the manufacturing process of active pharmaceutical ingredients, increasing prevalence of cancer, and the rising demand for biologics are some other factors that are expected to drive the growth of the API market in North America.

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However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The majority of API manufacturers have presence in China or India. The region has advantages such as the availability of a cheap and talented labour pool. Additionally, the increasing prevalence of chronic diseases, rising incidence of cancer, and the increasing demand for quality healthcare in this region are also expected to augment the growth of the API market in the Asia-Pacific region.

Company Profiles and Competitive Intelligence:

The major players operating in the active pharmaceutical ingredients market are

·        AbbVie Inc. (US),

·        AstraZeneca Plc (UK),

·        Boehringer Ingelheim (Germany),

·        Bristol-Myers Squibb (US),

·        Eli Lilly and Company (US),

·        GlaxoSmithKline Plc. (UK),

·        Merck & Co. Inc. (US),

·        Novartis AG (Switzerland),

·        Pfizer Inc. (US),

·        Teva pharmaceuticals (Israel),

·        amongst others.

Pfizer Inc. is one of the leading players in the API market with a strong product portfolio and a strong brand image, which give it a competitive edge over the other players. In order to further strengthen its position in the market, the company has adopted both organic and inorganic strategies of growth such as partnerships, agreements, new product launches, and acquisitions, amongst others.

Teva pharmaceuticals is one the leaders in the API market, with over 370 quality APIs manufactured at its production facilities. The company has a strong R&D team of around 800 scientists and significant investments in R&D that have ensured a steady flow of API compounds.

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