Global Active Pharmaceutical Ingredients (API) Market Scenario Focusing on Improvements Shaping Industry Growth

Posted on 2018-05-08 by Mark Hub in Healthcare // 0 Comments

Albany, USA, 2018-May-08 — /EPR Network/ —Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Active Pharmaceutical Ingredients (API) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2023” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Active Pharmaceutical Ingredients (API) market have been elaborated upon in the research report.

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Be it the prevalence of chronic diseases, increasing population of geriatrics, or governmental push to provide adequate care to their citizens – the healthcare industry is on the rise and with that, the pharmaceutical industry is gaining traction. For the manufacturers of drugs, active pharmaceutical ingredients (APIs) are of great essence as their quality defines the effectiveness of the products. However, not all pharmaceutical companies possess in-house API manufacturing capabilities and it is not feasible for a single company to produce all the APIs required for their formulation offerings. This makes for an opportune situation wherein the bulk manufacturers and suppliers of these ingredients stand to gain from. According to this business intelligence study, the demand in the global active pharmaceutical ingredients market will multiply at a CAGR of 6.4% during the forecast period of 2017 to 2023. In terms of revenue, the active pharmaceutical ingredients market is estimated to attain a valuation of US$219,601.9 by the end of 2023, mounting from the market’s evaluated worth of US$151,591.7 as of 2017.

Apart from increased healthcare expenditure by the urban populations across the world and rapid increment people aged over 60 years, the global API market stands to gain addition traction from the increase in drug master file (DMF) filing from Indian companies. On the other hand, adverse regulatory policies are foreseen as a restraint that will curtail the progress of the API market. That being said, patent expiry of lucrative biological drugs is expected to open new opportunities in this market over the course of the aforementioned forecast period.

Generic API Market Anticipated to Grow Quickly in Near Future

Based on drug type, the active pharmaceutical ingredients market has been segmented into branded, generic, and over the counter (OTC). Among these, branded prescription drugs are the most profitable segment, promising to generate a revenue of US$164,481.9 million by the end of 2023. On the other hand, the generic prescription drugs segment is expected to grow at the highest rate among all counterparts in the forecast period of 2017 to 2023. With the rising cost of healthcare, governments and payers are pushing for increasing generics consumption over branded drugs, and thus driving growth of the generic APIs market. Additionally, several major pharmaceutical companies are also focusing on generic drugs along with branded drugs due to eroding product pipeline and patent expirations.

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Captive Manufacturing to Remain Prominent Segment Until 2023

API market segmentation by manufacturing process: captive and contract. In 2017, the captive manufacturing segment generated a revenue of US$100,476.0 million. And, although the demand for the same is expected to expand at a lower than the average CAGR of 6.1% during 2017 to 2023, the segment will hold onto its leading position. The captive API manufacturing market segment includes the ingredients that are produced for internal consumption of a pharmaceutical company, and is usually preferred in cases involving sensitive or patent-protected drugs. The captive or in-house API manufacturing segment, once dominated by Europe, is steadily shifting toward Asia-Pacific where low cost of manufacturing as well as demand from generic manufacturers is huge. By the end of 2023, the segment is estimated to be worth US$143,042.2 million.

Key Segments of the Global Active Pharmaceutical Ingredients Market

By Manufacturing Process

Captive Manufacturing
Contract Manufacturing

By API Type

Synthetic Chemical API
Biological API

By Drug Type

Branded Prescription Drugs
Generic Prescription Drugs
OTC Prescription Drugs

By Therapeutic Area

Cardiovascular Disorders
Metabolic Disorders
Neurological Disorders
Oncology
Musculoskeletal Disorders
NSAIDs
Other Therapeutics Uses

By Geography

North America
- S.
- Canada
Europe
- K.
- Germany
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Rest of the World (RoW)

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