DUBLIN--(BUSINESS WIRE )--The "Active Pharmaceutical Ingredients (API) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global active pharmaceutical ingredients (API) market size reached US$ 209.9 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 291.7 Billion by 2027, exhibiting a CAGR of 5.64% during 2021-2027.
The global demand of APIs is currently exhibiting strong growth. One of the major drivers of this market is the rising number of blockbuster patent expiries creating a significant opportunity for generic APIs. Moreover, there has been a strong demand for APIs for biologicals.
The global market for biologicals is currently exhibiting strong growth catalyzed by their high potency and ability to treat diseases beyond the scope of small molecule drugs. This is creating a strong demand for APIs for branded biological drugs and their biosimilar versions. Other factors catalyzing the global demand of APIs include ageing population, rising expenditures on healthcare, increasing prevalence of lifestyle diseases, etc.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Active pharmaceutical ingredient (API), is the term that is used to refer to the biologically active component of a drug (e.g. tablet, capsule). A drug is usually composed of several components. The API represents the primary ingredient. Other ingredients are commonly known as "excipients. Sometimes a drug can contain several APIs and its effect on a patient depends on the dosage prescribed and can vary from person to person.
In combination therapies, two or more than two active ingredients are used to treat different symptoms in different ways. Stringent quality control is a mandate when it comes to the manufacturing of drugs as the API represents the main component considered while making the prescription.
Pharmaceutical manufacturing occurs in two general steps. In the first step, manufacturers convert raw materials into APIs. The second step involves creating the final formulation by mixing APIs and excipients into tablets, capsules, solutions, etc. and finally packaging the drug for the end users.
Manufacturers either sell APIs in the open market (also known as the merchant market) or use them as inputs to make their final formulations. The global API market is extremely competitive with a number of large and small manufacturers.
Firms that engage in API manufacturing generally specialize and target their manufacturing based on a combination of the firms in-house skills and market opportunities. Catalyzed by lower costs, API manufacturing has gradually been shifting from the historical leaders in Western countries to manufacturers based in India and China.
Key Questions Answered in This Report:
The competitive landscape of the market has also been examined with some of the (active pharmaceutical ingredients companies) key players being
Based on the drug type, the market has been segmented as innovative active pharmaceutical ingredients and generic active pharmaceutical ingredients.
Breakup by Type of Manufacturer:
Based on the type of manufacturer, the market has been segmented as captive manufacturers and merchant API manufacturers.
Breakup by Type of Synthesis:
Based on the type of synthesis, the market has been segmented as synthetic active pharmaceutical ingredients and biotech active pharmaceutical ingredients.
Based on the therapeutic application, the market has been segmented as oncology, cardiovascular & respiratory, diabetes, central nervous system disorders, neurological disorders and others.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900