Active Pharmaceutical Ingredients Market is to grow by USD 86.47 billion from 2023 to 2028, Asia to account for 52% of market growth - Technavio
NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The active pharmaceutical ingredients market is expected to grow by USD 86.47 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 6.73% during the forecast period, according to Technavio Research. The market is segmented by manufacturing type (captive APIs and contract APIs), type (innovative APIs and generic APIs), and geography (Asia, North America, Europe, and the Rest of World (ROW)). Asia is estimated to contribute 52% to the growth of the global market during the forecast period. Indian companies have developed a very high level of competence in the manufacture of pharmaceutical products that comply with good manufacturing practice standards, having fulfilled regulatory needs by US and European-based generic drug manufacturers to commercially market their bulk products at large scale.
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Company Profile:
AbbVie Inc., Amneal Pharmaceuticals Inc., Apotex Inc., Aurobindo Pharma Ltd., Cadila Pharmaceuticals Ltd., Cambrex Corp., Cipla Ltd., Dr Reddys Laboratories Ltd., GlaxoSmithKline Plc, Indena S.p.A., INTERNATIONAL CHEMICAL INVESTORS S.E., Koninklijke DSM NV, Lupin Ltd., Novartis AG, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Thermo Fisher Scientific Inc., and Viatris Inc.
AbbVie Inc. - The company offers active pharmaceutical ingredients such as organometallic and gaseous HCl.
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Active Pharmaceutical Ingredients Market: Segmentation Analysis
The market share growth by the captive APIs segment will be significant during the forecast period. The global market for pharmaceutical ingredients has been substantially stimulated by an increase in the use of healthcare services.
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Active Pharmaceutical Ingredients Market: Market Dynamics
Key Driver
- Increasing the number of type II drug master files (DMF)
- Evolving API manufacturing scenario in developing scenario
- Growing need to focus on core competencies
The increasing number of type II drug master files (DMF) is the key factor driving the market growth. As pharmaceutical companies increasingly rely on API producers to outsource bulk actives for the production of generic drugs as well as high-end, highly complex patented pharmaceuticals, the market for active medicinal ingredients is rapidly developing.
Major Trend
The increasing geriatric population is an emerging trend shaping the market growth.
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What are the key data covered in this active pharmaceutical ingredients market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the active pharmaceutical ingredients market between 2023 and 2028.
- Precise estimation of the active pharmaceutical ingredients market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the active pharmaceutical ingredients market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of active pharmaceutical ingredients market companies.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Manufacturing Type
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com
SOURCE Technavio
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