- 22 July 2019 17:22
Active Pharmaceutical Ingredients (API) Market Opportunities and Forecast, 2018 - 2026
The global Active Pharmaceutical Ingredient (API) market is likely to rise at noteworthy CAGR around 6.5% throughout the forecast period and reach around US$ 260 Billion by 2026.
Production of APIs has traditionally been done by the pharmaceutical companies themselves in their home countries. But in recent years many corporations have opted to send manufacturing overseas to cut costs. This has caused significant changes to how these drugs are regulated, with more rigorous guidelines and inspections put into place.
The Active Pharmaceutical Ingredient (API) is the part of any drug that produces its effects. Some drugs, such as combination therapies, have multiple active ingredients to treat different symptoms or act in different ways.
Where Are APIs Made?
While many pharmaceutical companies are located in the United States and England, most API manufacturers are overseas. The largest are located in Asia, particularly in India and China. More and more companies are turning to outsourcing to cut costs on expensive equipment, employees, and infrastructure. Notably, AstraZeneca Pharmaceuticals used to operate several manufacturing centers in the United States. Now, just 15 percent of their APIs are created in the U.S. and there are plans to end that small percentage and outsource all manufacturing overseas.
Active Pharmaceutical Ingredient (API) Industry, by Type of Synthesis: Biotech, Synthetic
Active Pharmaceutical Ingredient (API) Market, by Type of Manufacturer: Captive APIs, Merchant APIs
Active Pharmaceutical Ingredient (API) Market, by Type:Innovative APIs, Generic APIs
Active Pharmaceutical Ingredient (API) Market, by Application: Cardiology, Orthopedic, Oncology, Endocrinology, Pulmonology, Gastroenterology,CNS & Neurology, Nephrology, Ophthalmology, Others
Global Active Pharmaceutical Ingredient (API) Market, by Geography: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
The Active Pharmaceutical Ingredient (API) market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are AbbVie Inc.; Merck & Co., Inc.; Boehringer Ingelheim International GmbH; Teva Pharmaceutical Industries Ltd; Cipla, Inc.; Albemarle Corporation; Bristol-Myers Squibb Company; Sun Pharmaceutical Industries Ltd.; Mylan N.V.; Aurobindo Pharma; and Dr. Reddy’s Laboratories Ltd.