Rise in Entry of Various Companies, Launch of New APIs, Incidence of Diseases to Drive Active Pharmaceutical Ingredients [API] Market, Opines TMR

Active pharmaceutical ingredients [API] market will reach the valuation of US$ 331.3 Bn in 2031. Increased cases of health issues including cancer globally is projected to fuel market expansion during the forecast period.

Cardiovascular diseases to be key application of API

News provided by

Transparency Market Research

Aug 12, 2021, 09:00 ET

ALBANY, N.Y., Aug. 12, 2021 /PRNewswire/ -- Rise in prevalence of diseases & disorders and growth in government & organizational investments to develop APIs are major contributors to the expansion of the global active pharmaceutical ingredients (API) market. In addition, advancements in research & technology on biological processes and small molecule APIs are expected to prove beneficial for the increasing market demand.

According to the researchers at Transparency Market Research (TMR), the global active pharmaceutical ingredients [API] market is expected to expand at a CAGR of 6.4% during the forecast period of 2021–2031.

Active Pharmaceutical Ingredients [API] Market: Key Findings

Increased Abbreviated New Drug Applications (ANDA) Boost Market Demand

The ANDA approvals for pharmaceutical companies suggest that the generic drug is equivalent to the original medication in key aspects such as dosage strength, route of administration, form, performance characteristics, intended use, and the quality of the drug. In the past few years, there is a notable growth in the ANDA across major parts of the globe. This factor is expected to drive demand opportunities for the global active pharmaceutical ingredients [API] market.

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Increase in Hypertension, Cardiovascular Health Issues Create Significant Sales Opportunities in Market

Cardiovascular diseases and hypertension are considered some of the widespread diseases that have resulted in noteworthy increase in the cases of deaths and medical disabilities across the globe. With increase in the number of patients dealing with these health issues, the demand for pharmaceutical products needed for the treatment of all these diseases is increasing. This scenario is likely to translate into growth opportunities for the global active pharmaceutical ingredients [API] market in the years ahead.

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Active Pharmaceutical Ingredients [API] Market: Growth Boosters

With growing adoption of sedentary lifestyle, the number of people dealing with various health conditions is increasing across the major parts of the globe. This is one of the key factors boosting the sales opportunities in the global active pharmaceutical ingredients [API] market.
At present, the companies engaged in the API manufacturing are concentrated on their business expansion in Asia Pacific, specifically several developing nations such as China, Taiwan, and India. The market is estimated to show the development at a rapid pace in the Asia Pacific region on the back of the presence of many active enterprises, including Aurobindo, Sun Pharma, and Teva Active Pharmaceutical Ingredients (TAPI) in the region. Moreover, the increased cases of cancer in the region is likely to result into market growth in the near future.

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Active Pharmaceutical Ingredients [API] Market: Some of Key Players

The report profiles key players working in the active pharmaceutical ingredients [API] market. Company overview, business strategies, financial overview, business segments, recent developments, and product portfolio of market players are covered in the present research report.

The list of important players in the market includes:

Teva Pharmaceutical Industries Ltd.
Merck & Co., Inc.
Pfizer, Inc.
Sanofi
Mylan N.V.
Novartis AG
WuXi AppTec Co., Ltd.
Lonza
Hisun USA, Inc.
Piramal Pharma Solutions
AbbVie, Inc.
Ipca Laboratories Ltd.
BASF SE
Alembic Pharmaceuticals Limited
Boehringer Ingelheim International GmbH
Biocon Ltd.
Cambrex Corporation
Bristol-Myers Squibb Company
Eli Lilly and Company
Dr. Reddy's Laboratories Ltd.
GlaxoSmithKline plc.

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Global Active Pharmaceutical Ingredients (API) Market: Segmentation

Active Pharmaceutical Ingredients (API) Market, by Manufacture Type

In House Manufacturing
Contract Manufacturing

Active Pharmaceutical Ingredients (API) Market, by Drug Type

Branded or Innovative Prescription Drugs
Generic Prescription Drugs
Over-the-counter (OTC) Drugs

Active Pharmaceutical Ingredients (API) Market, by API Type

Synthetic
Biological
Plant Extracts

Active Pharmaceutical Ingredients (API) Market, by Application

Anti-infective
Cardiovascular
Neurological
Metabolic Disorder
Respiratory
Oncology
Others

Active Pharmaceutical Ingredients (API) Market, by End User

Pharmaceutical & Biotechnological Industry
CROs
CMOs
Others

Active Pharmaceutical Ingredients (API) Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

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