Global Active Pharmaceutical Ingredients Market, by Product Type (Low Potent APIs and High Potent APIs), by Molecule Type (Small Molecules and Large Molecules), by Formulation (Oral, Topical, Injectables, and Drops), by Application (Diabetes, Oncology, Cardiovascular, CNS, Analgesics, Ophthalmic, Respiratory, Dermatology, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 180.4 billion in 2020 and is expected to exhibit a CAGR of 6.7% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The increasing incidence of chronic diseases, and growing geographic presence of API manufacturer in emerging countries are some of the major factors that are expected to drive growth of the global active pharmaceutical ingredients market. For instance, in September 2018, Olon acquired an API manufacturing facility based in Mahad, India to build a long-term contract with Sandoz for the production of APIs.
Active Pharmaceutical Ingredients (APIs) provide health benefits and are used in disease diagnosis, prevention, and treatment. APIs cannot be used in the raw form as it is the crude form of drug which will not meet the appropriate pharmacodynamics and pharmacokinetics parameters. Certain drugs such as combination therapies have numerous active ingredients, which treat different symptoms or act in different ways. Manufacturers use different standards to determine the strength of an API. However, the standards differs from one brand to another, as per the company’s choice.
Global Active Pharmaceutical Ingredients Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak that started in Wuhan, China has spread across the globe and affected various industries globally. Supply of key materials has been severely disrupted due to forced quarantine, and insufficient labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components has affected the supply chain of the global active pharmaceutical ingredients market. The COVID-19 pandemic has alarmed the regulators and world leaders regarding impact of China dominance for global supply of active pharmaceutical ingredients and their chemical raw materials.
Browse 39 Market Data Tables and 35 Figures spread through 314 Pages and in-depth TOC on “Active Pharmaceutical Ingredients Market”- Global Forecast to 2027, by Product Type (Low Potent APIs and High Potent APIs), by Molecule Type (Small Molecules and Large Molecules), by Formulation (Oral, Topical, Injectables, and Drops), by Application (Diabetes, Oncology, Cardiovascular, CNS, Analgesics, Ophthalmic, Respiratory, Dermatology, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)"
To know the latest trends and insights prevalent in the global active pharmaceutical ingredients market, click the link below:
Furthermore, the increasing investment in research and development is also fueling growth of the global active pharmaceutical ingredients market. For instance, in October 2018, Lonza, a Swiss biopharma Contract Development Manufacturing Organization (CDMO), expanded its highly potent active pharmaceutical ingredient (HPAPI) capacity for the specific support of antibody-drug conjugate (ADC) payload manufacturing. It has added two new manufacturing suites at its Visp, Switzerland site for the manufacturing of antibody-drug conjugate (ADC) payload.
Key Takeaways of the Global Active Pharmaceutical Ingredients Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.